Fashion is a big industry and it keeps growing by the day. It is estimated that the global women’s clothing industry alone will exceed $621 billion by the end of this year.
If you are keen in this industry you need to keep an eye on the following startups:
This is based in New York. They have raised $236 million in funding and are looking to go public later this year. They run flash sales on their site.
Vente-Privee runs a sizable business with a primarily European focus, but they are also found in the U.S. They invested in the concept of members-only private sales of designer clothing.
Stitch has raised close to $50 million in venture capital. It is experimenting with personalized styling. It is a well-funded online fashion company sending personalized selection of items to people’s homes. You only pay for what you keep and return the rest.
Rent the Runway
Rent the Runway has built a $100 million plus business that successfully manages a complex logistics operation. This New York-based company operates on the premise that instead of buying expensive designer clothing, you can just rent them at a fee.
Nasty Gal sells vintage fashion online. It is headquartered in Los Angeles and is a classic story of an eBay seller who really found a niche and developed a brand around it. It currently does over $100 million in revenue and has raised close to $50 million in funding.
Net A Porter
Net A Porter was founded in 2000 and was acquired in 2010. It is based in London and focuses on luxury fashion. Its revenue now is well over $500 million. It may not be considered a startup as such because it has already found a great exit.