While Amazon and Wal-Mart have a shoot-out over book prices, the apparel market online is heating up, and I am amazed at the variety of business models that are surfacing. At first I thought magazines would have the edge - see something you like online while reading and buy it. Then the brick and mortar stores like Gap, Saks Fifth Avenue, Bloomingdales and Neiman Marcus began their big push online. Now its our turn - the entrepreneur approach. The ability to compete with big brick and mortar names is unique to the internet and women are taking advantage of it, like Katherine Power and Hillary Kerr of WhoWhatWear (pictured above).
Retailing has always been about the right concept as much as the right outfit. Three apparel companies in particular are interesting because they capture what's great about the online space. Gilt Groupe and MyShape couldn't be more different - east coast versus west coast, high fashion versus high tech, exclusivity versus community. Gilt, founded by Alexis Maybank and Alexandra Wilkis Wilson to offer luxury brands at a discount, is run by a giant in the media industry, Susan Lyne, former CEO of Martha Stewart Living Omnimedia. MyShape is run by an experienced and tech savvy entrepreneur, Louise Wannier, and Mercedes de Luca, a former Yahoo! executive. Gilt has done a fantastic job building their brand, which allows them to branch out to other businesses. MyShape is all about convenience (personal shops) and the customer, with suggested pairings of skirts and coats, tops and jewelry; something a lot of busy women find very helpful. But how do you decide what to buy? This question creates yet another business model, one based on celebrity sightings. WhoWhatWear.com, started by Katherine Power and Hillary Kerr (pictured), makes a business of finding the items worn by celebrities, so if you see a movie star in something great or want the latest trend, you know where to go to buy it for yourself.
Creativity and innovation are alive and well in America. All these companies were started by women, young and old, and have plenty of women executives. And of course women customers. But who will win? Gilt Groupe, the brand built to sell luxury brands for less; MyShape, the customer convenience oriented shopping experience; or WhoWhatWear, the trends and style site? I hope they all do!
You are so right, i love it!!!!
Posted by: Molly | December 17, 2009 at 02:56 AM