Fashion tech start ups in momentum

Last year saw an influx of new fashion tech start-ups, taking queue from early pioneers such as Gilt Groupe and Ideeli, where previously the industry had been hesitant to embrace new technologies, mobile apps and digital platforms.

 
And with no shortage of new ideas or interest from financial backers, this trend shows no signs of slowing down in 2012;here are some to look out for.

In recent news, Fab.com (a design ecommerce site) acquired Fashionstake. Fab.com is one of the biggest success stories among ecommerce startups. And while fashion has been a relatively new addition to their inventory, it’s been extremely well-received. Cofounder Bradford Shellhammer told us “We kept trying out things that veered more fashion and less interior product designs and it was met with tremendous successs. In addition, jewelry is our number two category, so that only gave us more confidence that fashion is a big deal.”

He continues that the most important factor in having a successful ecommerce startup is building an audience. “What [Fashionstake has] proven is it doesn’t matter what your curation is; it doesn’t matter what you’re presenting; you’re not going to sell anything unless you have people on your list to sell it to.”

Amongst the saturation of startups, the difference between those falling by the wayside and the successful ones is investment. For example, Fab.com just raised $40 million in their second round of funding. Polyvore just raised $14 million. Rent the Runway raised a whopping $15 million earlier this year. Moda Operandi raised $10 million earlier this year and has been on a bit of a hiring spree. Men’s ecommerce site Bonobos just raised $8 million with a goal of 15.

And without a doubt these tech startups are currently gaining such momentum and with this mix of fashion, technology and fashion proving so successful, there looks to be plenty more to come in 2012.