Maybe it's the Southern California influence, but it's rare that I have a meeting where most people aren't in jeans --- myself included. While as a society, our work attire seems to be growing more casual, there's no denying the enduring appeal of dressing up for special occasions. If only it were that simple. In these moments, where we know we'll be photographed for posterity (and social media), the desire to look our best demands a combination of class, trendiness, timelessness, and individual expression that is tough to achieve --- not to mention doing so without breaking the bank. And women have it far more difficult than men.
For the millions of women who attend at least four special events each year (e.g. weddings, proms, formals, etc.), it seems like there are a multitude of factors stacked against them. Even in this era of fast fashion, the reality is that retail brands continue lag runway and celebrity red carpet trends by six to 12 months --- while category leaders like Zara, H&M, and Forever21 tend to focus primarily in casual fashion categories --- and selection remains considerably limited. The end result is that women are forced to choose among last season's styles and face a high likelihood of showing up at an event wearing the same dress as another guest. On top of these challenges around personal expression, fit remains an enormous issue as well, with most designers offering limited size options and unpredictability between designers making online shopping in this high-stakes category a major roll of the dice.
Not surprisingly, the vast majority of shoppers still report difficulty in finding a "perfect dress," or frankly anything close to it. And technology has done seemingly little to change the fact that truly personalized style is available only to the very few who have either the means to commission bespoke garments or the skills to produce them themselves. As a $29 billion global market, the special occasion dress category is a ripe target for disruption.
So I've been especially impressed by by the data-driven approach and supply chain innovations introduced by bespoke fashion retailer Fame and Partners. Most Americans aren't yet familiar with this brand, which launched in Australia nearly two years ago (since expanding into Europe), but I truly believe it's just a matter of time before it's the go-to option for women in all markets for every special occasion. I am thrilled to announce that Upfront Ventures is co-leading the company's $7.5 million Series A round with FirstMark Capital.
Fame and Partners offers consumers a totally new shopping experience, while addressing the unique challenges around special occasion fit, trend, and customization. This process begins with a proprietary social analytics engine that culls billions of data points to monitor and spot fashion trends before they become mainstream. Those style cues are then channeled to the company's in-house merchandising and design team to create garments that are months ahead of what are available on retail (or e-tail) shelves.
A proprietary rapid manufacturing platform then allows Fame and Partners to offer these new styles to consumers within just a few weeks days of spotting an emerging trend. (Compare that to >90 days for "fast fashion" competitors and nine-12 months for traditional retail.) Once a shopper finds the item she wants, she can customize the fabric, color, fit, hemline, or add other embellishments to create a truly personalized look that is manufactured and on her doorstep in under 15 days. Of course, the shopper doesn't see all the back end work that goes into this "just-in-time" manufacturing --- she simply sees a dress that's uniquely perfect for her.
Fame and Partners was founded by, Nyree Corby, a dynamic, driven, and hands-on entrepreneur whom impressed and inspired me from our very first meeting. Hers is a name I'm sure you'll be hearing a lot more more, particularly as the company moves its headquarters from Sydney to Los Angeles this Spring. (Btw, we're hiring.)
In a world of rapid ecommerce and retail disruption, the special occasion market is ripe for change and innovation. Fame and Partners' proprietary data and manufacturing platforms represent exactly the kind of thoughtful, orthogonal take on an old, staid industry that I think is required to affect this kind of change. And the company's early traction outside of North America speaks to the kind of value the company provides to its customers at the most impactful moments in their lives.
Please join me in welcoming Fame and Partners to the US, and to the Upfront Ventures portfolio. We look forward to being a part of the journey.