Tuesday, 13 October 2009

Imagine A World Where Fans Pay To Keep Brands In Business - 13/10/09

In the wake of Japanese designer Yohji Yamamoto filing for bankruptcy (see yesterday’s MO Down), we thought we would draw your attention to Catwalk Genius, a relatively new fashion investment website, where fans can pay to keep their favourite designers in business.

According to a New York Times article: ‘Putting Your Money Where Your Style Is, the site uses “the Internet’s social networks to raise capital in return for a share of the profits in individual collections.”

The program, which has been operating for a year, has drawn US $11,000 in investments. Not a huge amount, but enough to make us mark Catwalk Genius as a website to watch. If this business model does take off at a phenomenal level, it may herald a new revolution in the fashion world.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au