How does your business operate? Which goods and services does it offer?
SilkFred is a one-stop store where online buyers may find independent fashion brands and buy their products.
Which goods and services does it offer?
- Independent fashion brands can successfully market their goods on SilkFred, a platform.
- SilkFred supports over 140 distinct fashion designers by offering e-commerce stores for our businesses and a position on their cutting-edge marketplace platform.
- Finding distinctive clothing at a reasonable price might be challenging for fashion enthusiasts. Customers that enjoy discovering new brands are connected through SilkFred.
When did you begin, and what kind of assistance did you receive?
With angel funding, we started SilkFred in January 2012. We realized we needed to raise some money to spend in marketing and start making noise when we established our technology and got several designers to use it. To aid with operating expenses while we launched a crowdsourcing campaign on Crowd cube, we took out a start-up loan for £10,000, which helped us raise $145,000.
What is your greatest accomplishment to date?
With the help of the Crowd cube campaign, SilkFred was able to secure the funding required to expand the company. We are now exceeding our business plan’s forecasts and seeing rapid development in both sales and interest from new creators. Along with that, we made appearances on ITV and Sky News, gave John Bercow and the Digital Democracy Commission a tour of tech city, met with George Osborne and Matthew Hancock at No. 11, and received an invitation to the Royal Garden Parties in appreciation for our support of the Business is GREAT Britain campaign.
What has been the most difficult situation thus far?
There are difficulties every day when operating a start-up. Keeping up with how quickly we’re expanding in terms of both technology and customer service has been one of our major concerns. However, our whole attention is on giving both the customers who shop with us and the designers whose businesses we support the best possible experience.
What would you think sets you apart from the competition?
We are experts at promoting independent fashion and interacting with customers about the items from the designers we work with. Every aspect of our service, technology, and marketing is focused on this knowledge since we are well aware of the difficulties independent fashion designers confront. We work hard to build connections with our brands so that they can develop with us, which is why we have the coolest, most distinctive brands.
Which of your recent decisions has proven to be the best?
Having the proper team in place is crucial, and I believe creating a culture where people believe in what you’re doing and where you’re going is essential. I’m incredibly fortunate to be working alongside such a great and committed group of people.
Where do you envision the company?
We’ll have global reach! Expanding quickly and offering more tools to support independent fashion brands in bringing their items to market.
What guidance would you offer to other business owners?
It’s difficult, but practice resilience! Make the proper connections with investors, advisors, and mentors. When you require guidance or assistance in making a significant decision, you should be able to pick up the phone.