Best crowdfunding site for fashion

Mimoona goes international: Crowdfunding for the fashion industry

Photo Credit: PRThe world of fashion is considered to be extremely dynamic with trends changing throughout the year according to the seasons, celebrities and the whims of the market. This poses a challenge for the large retail chains who often try and dictate the trends but are ultimately subject to to the unpredictable nature of the market. As a result, big name brands and small time designers alike are often stuck with excess merchandise and relatively low profits as trends run out before inventory does.

To make the fashion world a little more interactive for these chains and allowing designers to figure out which styles users will want before mass production begins, Israeli startup is offering a unique product for the fashion industry that takes the notion of crowdfunding and uses it to determine which styles are worth producing, and which are better left on the drawing board.

Dictating fashion

Mimoona started out as a general topic crowdfunding platform for the Israeli market that sought to help entrepreneurs and owners turn ideas into businesses by asking the market to fund its launching costs. The company saw that one of the biggest problems facing entrepreneurs who use their site stems from the fact that project sponsors often have no idea what their market is looking for.Photo Credit: PR In addition, Mimoona noticed that 90% of users who actually invest money in a project are not likely to return and invest a second or third time. In response to these findings, the company began to look for ways to help entrepreneurs in marketing and market awareness on the one hand, and for ways to increase brand and project loyalty by the the local market/investor, on the other.

As part of the company’s attempts to find a successful formula they decided to try and expand to international markets, despite the heavy competition from foreign local markets who have their own crowdfunding sites. To differentiate its their product from the rest, Mimoona decided to focus on fashion and to appeal directly to designers and brands who already have a loyal market base that they can hit up again and again for different projects.

After a very short period it became clear that in the fashion industry, the need for insight into mass opinion was just as important as the need for financing itself, making crowdfunding the perfect venue. It can take the market between 6 and 20 different designs and collections each year to ‘guess’ what shoppers are going to pick up off the shelves and what will wind up waiting around and taking up space until the next clearance sale. At this time the company decided to adapt their existing product specifically to this need of the fashion world, with a focus on small and medium designers, where one too many flopped designs can lead to bankruptcy.

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by Aeurelius

No. 6 Spending $15 billion on a program that would hire construction workers to help rehabilitate and refurbishing hundreds of thousands of foreclosed homes and businesses
This is TEMPORARY JOBS!!! and why in the hell is tax payers footing the bill for foreclosed homes? Are you a retarded or what?
No. 7 Creating the National Infrastructure Bank (capitalized with $10 billion), originally proposed in 2007, to help fund infrastructure via private and public capita
This does jack shit to create jobs. It is a slush fund.
No. 8 Creating a nationwide, interoperable wireless network for public safety, while expanding accessibility to high-speed wireless services
Private sector does internet better

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