FashionStake Allows You To Become A Fashion Funder (With VIP Perks)

Harvard Business School student Vivian Weng has had first-hand frustration with the fashion industry both as a consumer who pays high prices for clothing and as someone who has worked with designers who struggle to reach their target audiences. In an attempt to “democratize fashion,” she’s just launched FashionStake, a website that allows users to put a “stake” into an up-and-coming designer. How it works: Pre-order an item from an exclusive collection, or pledge $50 or $150 to the designer’s target fund. Once the goal is met, the designer creates the collection for the users, who get a $125 store credit and a 40 percent discount. There are also some extremely special VIP perks for people who invest certain amounts, including tickets to NYC Fashion Week, freebies, and lunch with the designer. FashionStake already has some recognizable names on their roster: The first designer is Nicholas K, followed by Lewis Cho, Aira, and Yotam Solomon.This is an intriguing business model, but extremely risky. We’re not sure shoppers are willing to dedicate their money to something before actually getting the physical object. For planners and fanatics for designer exclusives, FashionStake is a sure bet. But, you do kind of strike out if the designer funding is not met. Your credit card doesn’t get charged anything, but you might feel weighed down with disappointment. What do you think of FashionStake—would you be willing to ante up $150 if your favorite designer was featured? [FashionStake via The Harvard Crimson]