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Stylelend (YCombinator)

We supported Stylelend in developing and executing a B2B channel and innovation-based value proposition targeting large US retailers

#E-Commerce   #Fashiontech   #North America   

Company & Background

Stylelend is a peer to peer (P2P) marketplace in the fashion industry headquartered in New York City (and formerly in San Francisco), in which their users can share their (usually quite expensive or unique) pieces of clothing to the other users and the platform provides the cleaning, quality control, logistics and admin around the rentals.

Challenges & Needs

Stylelend was trying to diversify its value proposition, product, and business model to complement the pure P2P marketplace and provide the platform also to fashion retailers and fashion boutiques that would like to add a new rental feature with no overhead and risks.

Solutions & Impact

FFA supported Stylelend in a 4 week project (with a combination of remote and on-site work) to come up with the B2B product specifications and all the related components, such as B2B lending process, platform UX/UI and related platform pricing that would fit the target companies. We also worked with Stylelend to create the pitches and materials needed to explain the new proposition and supported the outreach process (end-to-end, from direct contact research and outreach, to pitching to brands)

These messages keep our motivation high and our team going strong

” FFA supported us to analyze and develop a B2B strategy that could go hand in hand with our existing P2P marketplace strategy. The biggest asset was that he and his team were looking at the problem in a completely different angle, putting their experience with past fashion startups, but also their independent frameworks at play. “

Lona Duncan

” FFA supported us to analyze and develop a B2B strategy that could go hand in hand with our existing P2P marketplace strategy. The biggest asset was that he and his team were looking at the problem in a completely different angle, putting their experience with past fashion startups, but also their independent frameworks at play. “

Lona Duncan
Founder & CEO | Stylelend

Company & Background

Stylelend is a peer to peer (P2P) marketplace in the fashion industry headquartered in New York City (and formerly in San Francisco), in which their users can share their (usually quite expensive or unique) pieces of clothing to the other users and the platform provides the cleaning, quality control, logistics and admin around the rentals.

Stylelend was selected by YCombinator and raised USD 3M in Venture Capital so far and have set and consolidated their operations in the US.

Challenges & Needs

Stylelend was trying to diversify its value proposition, product, and business model to complement the pure P2P marketplace model and provide the platform also to fashion retailers and boutiques that would like to add a new rental feature with no overhead and risks.

By doing so the idea was to obtain two main value propositions for both parties:

– For Stylelend it would provide a new source and supply of unique fashion items that their user could lend

– For large fashion retailers and fashion boutiques the opportunity to create a new business model of how to monetize their clothes (instead of normal direct sales). Especially certain designer dresses will be worn only 1 time for a special occasion, and not used anymore afterward, which makes buying a piece very inconvenient for the client.

For a company merely focused on B2C coming up with the whole B2B setup (product, value proposition, processes, pricing, presentation for sales/partnerships) is not straightforward and requires deeper understanding and experience in B2B Innovation and Sales.

Solutions & Impact

FFA supported Stylelend in a 4 week project (with a combination of remote and on-site work) to come up with the B2B product specifications and all the related components, such as B2B lending process, platform UX/UI and related platform pricing that would fit the target companies.

With all the components at hand, we structured different corporate partnership and sales presentations for specific types of fashion-related retailers and brands aimed at providing everything needed to assess the strategic potential of the collaboration with Stylelend (containing also deep elements on the non-cannibalization of this model to their existing sales-oriented business models).

 

Our Impact

FFA produced the presentations and decks which were used to close some very large US-based fashion retailers (names under non-disclosure) and high-end boutiques to set up a pilot on some pieces of the new season’s collection under the new Stylelend model.