Archive for Vintage Clothing

The History of Etsy

Rob Kalin, Founder of Etsy

Etsy is an online marketplace where buyers and sellers can connect from all over the world to exchange unique handmade and vintage products. Etsy’s niche market attracts buyers who are looking to purchase personal handmade and vintage products that cannot be found anywhere else. Robert Kalin, Haim Schoppik, and Chris Maguire are three entrepreneurs and friends who founded Etsy in 2005. The trio wanted to build a business that catered to sellers and allowed for sellers to advertise their products as they pleased. The idea for Etsy was that a group of sellers would generate more interest from potential buyers than a single seller would selling handmade products.

The idea for Etsy was born out of Kalin’s need to find a marketplace for his wooden computer cases. Kalin was working on building a forum for woodcrafters around the same time, and saw that crafters were desperately looking for a way to sell their goods. Kalin immediately recognized the need for a marketplace that could cater to artisans and small businesses. Etsy was able to capture hundreds of thousands of sellers within months due to many different factors. Etsy mostly was able to attract feminist crafters from a growing feminist movement in the early 2000s and was also largely seen as a more seller friendly alternative to eBay. In addition, Etsy was able to appeal to the masses who were anti-establishment and anti-consumerism by selling handmade and vintage goods.

Etsy did have it’s shares of challenges in its early days. In an interview Kalin stated: “the launch actually wasn’t going quite fast enough, so Maguire and Schoppik ended up basically moving into my apartment and we spent a solid six weeks working on it day and night.” I admire Etsy’s entrepreneurs because they demonstrate work ethic and doing whatever it took to make sure Etsy had successful growth. I also like how the company took a bold stance on its views and appealed to certain niche markets as opposed to the masses. Kalin, one of Etsy’s chief founders demonstrates that determination and focus is needed to drive growth. Etsy’s founder’s have taught me that identifying issues can lead to innovation and creativity.

New Idea, Vintage Clothing

Now in their mid-thirties and married, Susan Gregg and Eric Koger began in 2002 with some used clothes and an idea. Susan had always had a love for vintage clothing but eventually came to the point where her passion outgrew her closet. As college students, she and Eric were always looking for ways to make money, and so they had the idea to begin an online vintage clothing shop, naming it ModCloth.

ModCloth had very humble beginnings, with one part-time employee working out of their basement, but over the next couple of years they began expanding rapidly. By the time that Susan graduated college, she realized that ModCloth could be her full-time job. In 2007, ModCloth had one million dollars in sales and raised one million in capital. From there ModCloth continued to expand its sales, bringing in $150 million in revenue during 2014. They grew to the point where they were selling styles from designers all around the world.

One impressive way that they measured demand was through a program called “Be the Buyer.” This program allowed potential buyer to view sample products, vote on them, and give input on each product’s price, style, etc. “Be the Buyer” really helped Susan to understand her customers and what they were looking for in ModCloth.

I think that ModCloth is a wonderful example of a passion made profitable.

 

Susan and Eric with their beloved pug.

ModCloth has since been sold to WalMart. Their website and YouTube channel can be viewed here.

Warby Parker

When picking a product, I often hear people toss around the words “fashion” and “function” to describe their purchasing priorities. For me, there’s a third category that warrants equal consideration: the fiscal element. Luckily, one brand that has a tremendous impact of my life discovered how to ace every single one of these divisions. Warby Parker literally affects how I see the world. Yes, literally- not figuratively. They are an eyewear brand whose goal is to provide modish, high-quality eyesight for significantly less than other brands and to impact the world positively while doing it. 

The problem that commenced the creation of this company was the outrageously high price of a crucial product: glasses. The co-CEOs discovered this issue when one of them lost his frames while backpacking, and due to the (previously) expensive nature of the product, had to complete his first semester of grad school in the haze bad vision creates [see the rest of the story here]. They identified that one company had a monopoly on the industry and was creating, “artificially high prices” for the public’s only option. Solving this problem, the team now offers designer eyewear at substantially lower prices whilst simultaneously providing eyewear for those in need with every purchase. Their process is a win for the customer, a win for those in need of eyewear, and- through the buzz it’s created- a win for the company.

Although their number of stores is increasing, online is still a large contributor to Warby Parker’s sales. Glasses, which must be looked at in correlation to each individual’s face, are difficult to pick without having them there in front of you. Warby has two ways to workaround this. The first is a virtual try-on system where you upload a photo and and get to see the glasses on you virtually. The second is Warby offers their customers (and even just potential customers) a service where they send five frames to your home to try them on in person. These innovative methods make online glasses shopping possible and a highly-effective alternative if there isn’t a Warby store near you.

Another key elements of their brand is the atmosphere and community they’ve built. Everything about the brand, whether it be their packaging, website, store, or social media feeds portrays a unique blend of hipness and innovation. The are frequently community events, such as button making parties and concert series, hosted in their quaint and quirky storefronts. It’s very obvious Warby Parker thinks that fun should be a part of the glasses buying process, and honestly, the promotion they do of these events makes me want to be best friends with every single one of their employees. And the community! When I see people in Warby frames I can’t asking about them which without fail has always led to a pleasant, friendly conversation. This cool company has a lot of cool customers.

The best part about Warby Parker’s is that they wrap up fashion, function, social consciousness, and fun, into one neat looking and fiscally-responsible package. What more could a girl with poor eyesight ask for?

 

A Small Network Still Works

When researching millennial entrepreneurs there seems to be a connection between all of them. They did not begin a certain business, or create a product to gain revenue from it, but rather they had an idea, and put that idea to work. Consequently it usually ends up that their idea makes them money. But it is just the fact of providing a good or service that seems to drive these people.

Eric Koger and his wife Susan Gregg Koger were two young adults attending Carnegie Mellon University together. They both had a want to create a better way to get vintage and vintage style clothing. They figured that the best way they could accomplish this was through a website. So in 2002 launched the website Mod Cloth. This website went into full time operation by 2006.

While this idea seems menial to many of us today, due to the vast amount of web sites we can access at the touch of a button, In 2006 this was innovative for the service it was providing. Since there take off in 20006 they have moved from the Strip-District in Pittsburgh to San Francisco, where they are based.

A move in location was not the only thing that happened however. A move in the direction of online selling had also been created due to these two college students.

These two young entrepreneurs show me that innovation is a result of a network greater than yourself. Who knows, if Eric Koger didn’t meet Susan, the internet shopping experience may be a little different today.

Sweaters Anonymous

This is a really cool story about a young entrepreneur that I wanted to share with everybody. Sarah Gehman, a good friend who I grew up knowing in high school, and ALSO my roommate’s sister, began this business in 2012. Sarah is a missionary with the world’s biggest Christian mission organization, YWAM. Her job title is “Social media/marketing manager and photographer for the Ekballo Project. She is currently based out of the YWAM base is Kona, Hawaii. Sarah raises all her own money and one of the biggest things that she did to do this was through Sweaters Anonymous. It all began with her love of shopping at thrift stores. One day she realized that that she should try to turn this small obsession into something practical and decided that this could be a way to raise money for her YWAM trips. How this business works is that Sarah travels to various thrift stores and purchases used and sometimes new sweaters. Instead of regularly pricing the sweaters, she lists them on her website; http://sweatersanonymous.com/ and instead of pricing each sweater individually, she asks for a donation, so whatever a person is willing to give she will take. It is definitely a unique way to run a business. Sarah has been extremely successful, and she gives all of the credit to the Lord. Sarah quotes: “God is such a good God, and he doesn’t call us to do something that he won’t provide for”. To give an example of Sarah’s success, she has sold over 100 sweaters and has made 3,000 thousand dollars. Sarah has her own personal website, as well as a facebook page that she advertises these sweaters on. Check out Sarah’s Sweaters!

 

ModCloth

Having recently joined Swing Club at college, my roommates and I have become interested in vintage clothing, because not much could make swing dancing more fun than having a vintage style skirt that flares out when you spin.  While searching vintage clothing on the internet in our spare time away from our studies we came across a website called ModCloth.

As an entrepreneurship major, I found it interesting that the founders of ModCloth, Susan and Eric Koger, got their company up and running while in college.  It all started with Susan’s hobby of collecting vintage clothing, a love that began in high school. With Eric’s help Susan’s passion grew into a business. In college, Susan and Eric began selling vintage clothing online to help pay for books. After graduation from college, they continued the company, adding new clothing from independent designers.  With the continued growth of ModCloth, Susan and Eric now work with over 700 independent designers. Their inventory has grown significantly to include thousands of vintage inspired products from clothes to accessories to shoes and even home furnishings.

Susan and Eric’s ModCloth is a great example of the way in which a special hobby or interest can be turned into a profitable venture, creating great satisfaction for the entrepreneur and their customers.  ModCloth not only creates value for their customers, but they help other entrepreneurs by working with independent designers in their own entrepreneurial adventures.

ModCloth: eCommerce at its best!

images (2)ModCloth is an online retailer that specializes in vintage , vintage-inspired and indie clothing, accessories and decor. ModCloth was started in Pittsburgh in 2002 by Susan Gregg-Koger and her then-boyfriend, now-husband, Eric Koger. Eric started a web development business in 2000 and used his knowledge to help Susan launch an eCommerce site for the amazing pre-worn vintage items she’d found at vintage sales. The company began in the Kogers’ college house basement at Carnegie Mellon where they employed a student part-time to help with packaging and shipping. It now has, however, 450 full-time employees across offices in San Francisco, Los Angeles and Pittsburgh. It is one of the fastest-growing fashion and home eCommerce ventures to emerge in the past decade and the company did more than $100 million in sales last year.download (2)

ModCloth is extremely popular with fashion bloggers, vintage lovers, and online shoppers in general because there are up to 50 new products a day on the ModCloth website. That fresh content is essential to making browsing the ModCloth site a daily habit. Also, ModCloth’s Be the Buyer program allows customers to vote on which designs are created and sold by ModCloth. Combine all this with ModCloth’s great customer service and it’s no wonder that in 2010, ModCloth was  named the #2 Fastest-Growing Private Company in America according to Inc. It was also named to Forbes 30 under 30 list for Technology in 2011 and for Art and Style in 2012. ModCloth also made No. 19 on the World’s 50 Most Innovative Companies as well as No. 14 on the Most Innovative Social Media Companies list by Fast Company in 2013.2-3_ModCloth