For every successful business, be it a lifestyle business or a start-up-big-business the rules are the same: find an untapped market with a customer who is willing to pay. It's the 'Willing to pay' bit that foxes many businesses. So here's a story about new fashion biz Moda Operandi that's done it....and in the niche of full-price fashion retail. Amazing!
Here's a snippet of an interview
"Fashionista: To what do you attribute Moda’s massive growth over the last year?
Aslaug Magnusdottir: We’re offering something to a customer that has never been made available to them before: it’s a pre-order straight from the runway. We’re the only place to do that. When launching this business, part of it was a reaction to all the stuff that had been on discount for the last three years before that. We felt there was a full price customer being neglected. The online customer at the time was looking for a discount and didn’t care about securing the latest fashion, but we felt there was a customer out there who wants a good value for their money but they’re also looking for the newest merchandise and special pieces. And we found out we were right–that customer was out there and wasn’t being served online. People also feel more and more comfortable shopping online for clothes. Even five years ago it was a much smaller market–people were concerned about sizing. Now more people are comfortable with it and the price they’re willing to pay is rising."
You can read the whole article here