#boosh: India's first crowd designed fashion store

by Javed Anaz

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3800
Raised from 8 Backers
76% raised
0 days left
5000

Flexible Funding

About the project :

Folks,

HashBoosh started off as an academic project when our study group got together to do the Business Development project as part of our Executive Post Graduate program at IIMK. We got so consumed by it that we just could not leave it on paper. So we got digging and after months of research, meetings, travel, night outs, disappointments, excitement and all of that, we launched HashBoosh on February, 2016.

HashBoosh is one of it's kind fashion platform. At its core is a public community of fashion lovers and designers. Fashion designers can participate in HashBoosh's design challenges by submitting their designs. The community then votes on the designs and those designs that grabs sufficient attention are chosen to be manufactured, marketed and sold by HashBoosh. The designer wins prizes and royalty on sales of the product, but most importantly, the product will be co-branded with the designer and promoted. The fashion lover will find here unique products that he/she will find nowhere else.

HashBoosh attempts to solve two problems at once.

First, All designers dream about their own brand of clothing! But it is very difficult for a designer to reach the market on their own. To do so, they have to raise funds, manage procurement and production, take care of sales and marketing and much more. This leaves them with little time to do what they are really passionate about, Designing! 

Secondly, the large array of ecom fashion players have provided the customers a large veriety, but ubiquitous nature of products has been a put off to a large number of customers. The booming economy and the growing income of middle class along with the reason stated above has resulted in a steady increase in demand for unique and high quality products ( Great fit and finish, not mass produced). To add to this, the unspoken need for the fashion lover to have unique products in her wardrobe, which will save her from the embarrasment of finding someone else wearing the same or similar attire. The market is booming, but are the customers happy? Are the designers in any position to take advantage?

HashBoosh addresses both these problems.

To the desinger, it provides manufacturing, sales and marketing as service to designers so that they can get their products into market easily. The community is an audience to the designers to showcase their talent and provide much needed feedback and the designers, especially new ones and ametuers, can learn a lot by participating in the design challenges. The designers wins recognition, fame and rewards. Most importantly they get to brand their designs!

The crowd sourced nature of designs will guarantee that there is no dearth of unique designs! The fashion lover gets to chose from a curated collection of trend setting, brand new, unique products they will find nowhere else. HashBoosh's products are of the highest quality, especially in terms of fit and finish.

Current status:

  • 7+ challenges
  • 130+ designs
  • 50+ designers
  • 50+ designs made and sold
  • 3500+ Users
  • 15 Sell outs
  • 300,000+ Sales

HashBoosh is participating in IIMK's Startosphere 2016 and it intends to raise funds at the event to help it scale its activities to take it to the next level.

This campaign intends to raise Rs.5000/- to qualify to participate in the event.

 

Risks and Challenges :

The primary risk is inventory not sold. This is a risk that is industry specific and HashBoosh tries to mitigate this risk by leveraging some of the key aspects to its business model

  • Demand prediction: HashBoosh, in the long run, will be able to predict demand more accurately for its products based on the buzz the design created in the community. This helps HashBoosh better plan its production for its collection.
  • Inventory re-usage: The fabric and material inventory is an asset that HashBoosh can leverage on multiple design challenges thus derisking unused inventory.
  • Low Volume-High Veriety: HashBoosh believes that its sales is a direct function of the buzz in the community. So HashBoosh will keep running competitions which means that a lot of styles need to be produced. Due to this reason HashBoosh intends to be a low volume high veriety player that depends on the high turnover of its styles to help maintain its key brand attributes, always new, always unique. This derisks from unsold inventory of poor styles.
  • Leverage Platform services as paid services: In due course, HashBoosh aims to open up its platform as paid services to help designers fund their own products, thus de-risking capital and move towards risk sharing with designers.
  • Multi channel presence: HashBoosh intents to be actively present wherever it sees its customer base, Online and Offline.

Other Ways You Can Help :

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