The Tinder of Fashion & Beauty: Can Swiping Help Reduce Waste?
Most of us will be all too familiar with the spasmodic search for the perfect pair of jeans that fit just right, and you would never dream of getting rid of. Once you find it, that’s it; a deal sealed with blood, and the sweat dripping onto the changing room’s floor.
But, good news, something is happening – has already happened. The world of retail has been undergoing rapid and substantial changes, as brands are trying to adapt to the volatile appetites of shoppers who are seeking more experiential and customisable experiences. Just ask FashWire’s CEO Kimberly Carney.
Back in 2009-2010, Kimberly owned a men’s and women’s fashion boutique. She also knew that the traditional retail business model would not stand the test of time, not if it remained disconnected from the tech world. So, while witnessing the steady growth of tech giants like Google, Amazon and the newly-born Facebook, Kimberly realised that fashion really had to start adapting to tech.
“Back then, we would go in and we would handwrite our orders. That was around the time they were starting to get more digitised programmes,” she tells me. “And there were these smaller brands that I just loved, being represented at the MAGIC Fashion Trade shows in the US. So I would take a chance and spend like $2,000, thinking they would sell, but they wouldn’t. I thought there had to be a way to give exposure to smaller brands and emerging designers. And that was the catalyst to launch FashWire.”
And in 2018, Kimberly finally launched her app: an innovative 2-sided marketplace that would allow the consumers’ decision-making to directly influence the brands’ decision-making, by providing the data that designers and brands so need in order to grow more strategically and sustainably. After purchasing the app for a $2.99 one-time fee, the swiping begins: customers can browse a tailored range of products, made by nearly 500 brands based in 45 different countries.
“We were built on sustainability because when you get that data to the brands, then they create less product – they know what the consumers want. Demand forecasting is so hard, but if you can leverage technology, get the data of what the consumer likes, of what they don’t like, and of what the brands are making, then you can take that and you make better production decisions. Traditional forecasting is just not working anymore.”
GlossWire, the beauty sister of FashWire, launched in 2021 with 50 brands. “I know fashion, I didn’t know beauty,” Kimberly admits. “The way that I learned about beauty was by hosting a pitch competition in partnership with Cosmoprof, and I let them pitch to me.” And now, after beauty, they have also entered the home decor realm with CasaWire, the newest addition, launched with the help of Selling Sunset’s Amanda Smith. They created virtual rooms to deliver a more immersive experience, showing shoppers what their picks would look like in a space.
Kimberly and her team have been traveling to trade shows all over the world, getting more and more brands on board. When I ask her what’s the key to get brands and investors interested, and form solid partnerships, Kimberly tells me that is all about human connection.
“The fact that we go and meet the brands in person, really makes a difference. They trust us, they see who we are, and we can establish a relationship. With investors, I just tell them the story, but I also don’t ask for money. I just tell them ‘if you want to be part of this, great. If you don’t, that’s okay too. We’ll be fine either way!’”
Written by Benedetta Mancusi