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.