The world is going through difficult times, especially regarding environmental issues. To make matters worse, the projections aren’t that optimistic, as the emission of polluting gases is going through the roof.
In our magazine, the blog post “The future of fashion, now!”, written by Anas Alshanti, founder of Fundlify, brought up this important topic and pointed out the influence of the fashion industry on the increase of pollution and water waste. To contribute to the discussion, Anas addressed potential and efficient solutions that Fundlify provides to overcome this problem and support the development of the industry.
Fundlify is a first-of-its-kind crowdfunding platform empowering creators, startups, and brands to independently crowdfund new ideas, projects, and on-demand sustainable multiple production-runs. The project came from the ambition to shake up the fashion industry through sustainable development, in which brands, customers and the environment can benefit from it. The pillars are based on conscious consumption, waste reduction, and efficiency.
For fashion brands, the advantages of embracing crowdfunding & pre-orders into their business, are numerous. They help brands to build more efficient, sustainable, and scalable businesses that align with the goal of reducing carbon emissions.
“Sustainability is a journey of agile adaptation, commitment, conscious and consistent actions. Technology makes it possible for brands at every level to achieve the goal of a better sustainable future” – Anas Alshanti, Founder of Fundlify.
To dive into the successful impacts on fashion brands, we had the amazing opportunity to talk to Kyle Rancourt, from Rancourt & Co – a family business that became an important player in the leather footwear market in North America.
The company relies on crowdfunding and efficiency to strengthen its business with sustainable growth, which also benefits customers that can purchase products at wholesale prices. To help you get insights about crowdfunding and how it is positively affecting their business, we are happy to share our talk with you:
What was your goal? and why crowdfunding / pre-orders?
Kyle: Our original goal was to raise funds for production during the pandemic. We felt that offering our best selling styles to our customers at wholesale pricing was a win-win, we could generate the volume we needed to keep our factory running and they would receive handmade shoes at a great price. The first round was so successful that it has now become part of our business model.
How did crowdfunding align with your journey to sustainability?
Kyle: Crowdfunding helps us with planning production and inventory to reduce potential waste and increase efficiency in the manufacturing process.
How did crowdfunding motivate your customers?
Kyle: I believe our customers were motivated by the pricing structure that allowed them to purchase our footwear at wholesale pricing. Another factor that helped was the limited time available to purchase – I think that motivates customers to act quickly.
What problems/challenges did you have that crowdfunding could solve for you? How do you see it improving?
Kyle: Production planning to increase efficiency or level-loading of manufacturing is a challenge. Crowdfunding has helped us to evenly distribute our production volume throughout the year.
Why did you go for Fundlify specifically? How did it help?
Kyle: researched many crowdfunding apps and found Fundlify to be the easiest to use within our inventory system and product structure. I was also attracted to the customizability of the crowdfunding collection pages and the crowdfunding product UI. I loved the ability to replicate an existing product and quickly create a crowdfunding campaign from it.
- How do you see the future of fashion?
Kyle: Fashion is always changing and runs in cycles. Currently, we are seeing a return to classic American style and handmade products. Our customer’s care about high-quality products made in traditional ways from a small manufacturer like us who produces footwear in environmentally friendly ways and supports American jobs.
Crowdfunding and pre-orders are essential for sustainable growth and the benefits reflect on everyone involved. The success of this incredible partnership also repeated with many other fashion brands – and we are thrilled to spread the idea that aims to revolutionize the industry. To learn more about Fundlify and its strong and impactful potential, visit their official webpage and give a read in our blog to get into details of the concepts we discussed in this post.