Start-Up of the Week: NOT JUST A LABEL
Jul 29th, 2008 by admin
Fashion is all around us. From the moment we get up and put on our terrycloth robes to the second we go out for a formal night on the town. We make a statement each time we get dressed or change what we’re wearing. Yet we rarely stop to think about the individuals who spark the trends – those who have and continue to create some of the greatest designs in history. I’m thinking little black dress…board shorts…stilettos… Fashion is certainly big business! But to break into the fashion industry and get your designs noticed takes a lot of work and money. And unfortunately these barriers mean that some of the best fashions probably go completely unnoticed. Well, now there’s help for those budding artists just starting out - those who might go on to become the next Calvin Klein, Giorgio Armani or Vivienne Westwood. That help comes in the form of an Internet facilitator known as NOT JUST A LABEL (NJAL). Here’s more from Stefan Siegel and his fashion-worthy start-up:
Please tell us about your start-up NJAL. What makes it unique? And how does it fit into the marketplace?
Stefan: Young aspiring fashion designers face enormous hurdles at the beginning of their careers and NOT JUST A LABEL believes that with a platform such as ours, we can provide the supporting leg for each designer. We put the spotlight on tomorrow’s fashion creators and bring young talents and the industry together. It is unique as it is the first Internet-based platform to solely showcase young fashion designers which offers them a free tool to showcase their collections and acts as a global directory and talent pool for the fashion industry.
Who are your target users? Advertisers?
Stefan: In terms of active users, we limit NJAL to fashion students and young designers. Students and graduates must have their first collection in place. In terms of independent designers and young labels, we focus on those who cannot yet afford sales agents, PR agencies and their own shops. Regarding visitors on our site, our target groups are fashion professionals ranging from editors, photographers, recruiters and many more.
What has been the most challenging aspect of launching this business?
Stefan: So far I think it was the setup of the Web site itself. NJAL is based on open source software elements and has been developed by my brother in-house. Therefore the initial launch has been postponed several times and we were not able to implement all the features we initially believed we could offer to designers. However, developing the site ourselves gave us also a lot of flexibility and the look and feel of the Web site is exactly how we initially wanted it to be.
Did you write a business plan? How did you fund the launch of your business? Are you currently seeking investment?
Stefan: Yes, I wrote a business plan in late summer 2007 as we planned to go and seek investments at a very early stage. We were, however, able to raise some funds from friends and family and decided to go our own way for the first year. We thought the whole idea of NJAL with its planned follow-up projects could eventually move many aspects in the fashion industry, and so we wanted to first prove that there was a gap where NJAL would fit in, and secondly we wanted to remain the artists, the creatives and not come across as too commercial to our users. NJAL has now been live for almost four months, we have over 400 young fashion designers from all over the world and we are now looking for investors or sponsors to support our follow-up projects which will happen both on and offline.
Is this your first start-up venture?
Stefan: Yes, I previously worked for large companies in the fashion and finance industries. Being self-employed is what I always wanted to do and even if it is a roller coaster of feelings and a constant mix between fear and joy, I would not go back to a corporate structure.
What advice can you give others looking to start their own businesses?
Stefan: I must say I am lucky to live in London, a city which lusts for new ideas and where young people believe in things that are new. We contemplated on where to base NJAL for the first year, as we knew the high living costs in London would affect the business very soon. However a young business must be located in a city filled with inspiration; a city where official channels are laid out to host new businesses and ideas and where your dialogue partners don’t tend to answer “why”, but rather “why not.”
If you had to start all over again, what are some things you would do differently?
I would have started six months earlier when the business idea first came to mind.
If I would ask Stefan, the founder of NJAL, my question would be: What do you hope to practically achieve out of this? Obviously, you’re trying to help the young designers. Would there be any efforts in attracting buyers/ press to have a look at your registered designers and possibly work with?