We had reported earlier the relaunch of Garmz as LOOKK as Carmen Busquets decided to put some of her millions she made from the sale of her share in Net A Porter. Busquets has always backed e-commerce and that was the primary reason why she ended up owning almost a third of Net A Porter by the time it was acquired by Richemont for almost $570. She believes in the Lookk concept as it comes close to the model of what she did as a young student to finance her luxury needs.
The new look Lookk has expanded its offerings but is aimed at slightly more established designers. Busquets is confident that Lookk would be the next Net A Porter. She believes it is the perfect platform for designers to start and sustain their fashion career. It makes it possible for those talented designers to market themselves who don’t have the production infrastructure or a marketing machine behind them. Lookk has the potential to generate enormous market data. It will be big help while forecasting demand and the chances of estimates and forecasts going wrong will be very less.
The business model offered by Lookk will make production cycles shorter and meet demands with smaller batches, thus avoiding wastage and save on costs. The biggest challenge faced by Lookk is to drive the sales and marketing machine online. It needs to be lucky in the initial stage and have a few breakout hits. That will definitely gain it the trust of somewhat established designers and make the marketing process that much easier. With almost instant feedback received by Lookk it has the potential to grow into an incubator of sorts for fashion.
Via: signature9
