Fast Fashion is not a new concept. Moving designs from the catwalk to retail quickly and offer them at affordable prices has made retailers like H&M, ASOS, Boohoo and Zara successful.
And traditional fashion retailers such as Banana Republic or Ann Taylor have lost market share as they are systemically not nimble enough to compete in the Fast Fashion retail space.
The younger generation wants the latest fashion NOW, not in 2 or 3 months!
Direct to Consumer May Disrupt the Space More (or Again)
Studies already show that Amazon is leading the way with millennials in fashion. And the company is even experimenting with new technologies such as the Echo Look (available now) and Smart Mirrors (New Patent) and Try-Before-You-Buy service offerings such as Amazon Wardrobe to defend its leading position.
But if a Swedish company has its say, they hope to spread their eCommerce DTC chops and social media skills around the world, and may one day be as famous as other Swedish pop-culture exports such as Abba and Ikea.
NA-KD is a Swedish fashion eCommerce company founded in 2015 by Jarno Vanhatapio that sells women’s clothes direct to consumers. The company reported is has raised $45 million in Series B funding.
Some estimates put this funding at just about the range of their total revenues for 2017. And that makes it a serous round of funding backed by confident investors that believe in their concept.
The company claims that it is already the most quoted online fashion brand on Instagram in Sweden and Germany. It credits a “highly scalable fashion collaboration platform with star influencers” as the reason for its success.
NA-KD plans to use the funding to target the U.S., UK, and other major European with nine country-specific sites. Some money will be used for internal recruitment and hiring more global influencers.
The Concept is Simple – The Execution is World Class
The company sells a collection of over 100 brands that include famous names such as Calvin Klein, Fila, Shein, and more.
But their real assets are the house brands as they can be more nimble in offering Fast Fashion styles and designs for their customers.
NA-KD’s global inspirations are already visible with “Free worldwide shipping – Free returns,” and on its website they claim to have shipped products to over 140 countries.
A large part of their success is this high level focus on social media marketing and use of fashion influencers and celebrities.
They even have a prominent link “Shop Instagram” that sends shoppers to an Instagram style page with images from their Instagram feed. Make shoppers feel comfortable with a product presentation in a familiar format.
The marketing and web presentations utilize the latest technologies and trends. Visuals are not just a collection of pictures, but also include animations, videos (check out the cool integration of video on this product page), and other advanced techniques.
Obviously, to be successful you need good products, in their case styles and designs shoppers want to buy. There is no doubt NA-KD has been able to deliver on that front.
The Future is Full of Opportunity
The future for NA-KD may include on-demand manufacturing. When the technology evolves from the lab to real world use, NA-KD will have a customer base ready to snap up the latest styles.
OnDemand manufacturing can bring Fast Fashion from catwalk to consumer in even less time!
And with another $45 million in funding, investors are betting NA-KD will be the next big thing, or at least very successful at what they are doing.
It appears to be a path that may redefine Fast Fashion again and leave traditional retailers in the dust!
What do you think about NA-KD and what they are doing? Drop us a note in the comments section below.