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International Investor Magazine Summer 2020

Page 10

T h e pe r f ect fit fo r sustainab il ity: an inter vi ew wi th Jess Flei sch er , Son of a Tai lor co -fou n d e r

HOW DID YOU GO ABOUT BUILDING AND TESTING YOUR IDEAL SIZE ALGORITHM?

HOW HAS COVID-19 CHANGED THAT? WHAT WILL BE ITS IMPACT ON THE FASHION INDUSTRY?

Besides that, there are substantial

I don’t really know. It was one of

In relation to COVID-19, traditional

those magic start-up epiphanies. We

pre-pandemic levels. Many studies

fashion brands have experienced

were annoyed how much trouble

indicate that this won’t be the case,

sudden changes in demand, many

customers had measuring themselves

so fashion brands will be forced

with a steep decline. This is painful

with a measuring tape. So we started

to provide a better online service,

for any business as there are fixed

acquiring torso measurement

including better representation of

costs that need to be covered. But for

data and after a month, our Lead

their products, better sizing options

fashion companies, it hurts all the

Developer, Jakob, suddenly said,

and a much better understanding and

more because they will have a ton

“I think I am on to something”.

service of the online customer. Take

of money bound in inventory that’s

He had found some initial unique

Hugo Boss and Ralph Lauren for

season-dependent. This is really

relationships in the data. After

example. Both have Trustpilot Scores

bad for both their economy and the

six months of iterating with our

of 1.9/5 - and they don’t even seem to

environment, as a lot of resources

customers, we had an algorithm

care.

go into producing this inventory.

that worked better than manual

Considering that many of these

measurements. Today you just need

companies have already had problems

to fill in your height, weight, age, and

with overproduction, their rule of

shoe size - for 96% of our customers,

thumb is often “we better produce

that provides a great fit.

one item too many, than one item too few”. This leads to large amounts of

THE SUCCESS OF THE KICKSTARTER THAT HELPED LAUNCH SON OF A TAILOR PROVES THAT PEOPLE ARE READY TO INVEST IN SUSTAINABLE CLOTHING. HOW DO YOU SEE THE FASHION SECTOR TRANSFORMING TO MEET CUSTOMER EXPECTATIONS?

The customer has come a long way in the last couple of years in terms of sustainability and they are demanding a change. We can actually see it in our marketing and customer support data! Unfortunately, the sector is not changing very quickly.

resources going to waste, negatively affecting the environment.

offline retail will ever go back to

Consumer fashion has been shifting towards sustainability for quite some time, in the sense that brands are increasingly focusing on essentials that last longer as well as meeting the expectations of people who want to consume less. These are trends that, I am sure, will be further accelerated by COVID-19.

COVID-19 has been a wake-up call for many of the big brands. This inventory insanity needs to stop. In 2018, H&M needed to liquidate $4 billion worth of stock - and that was in a year of economic growth! Supply chains have become too long and the topline growth targets too greedy. Still, many brands order their apparel more than six months before they will sell them. And they would commit to fabric long before that.

Most brands still think that if they have sustainable cotton in some of their collections, they are fine. It’s sad.

01 0 |

doubts about whether classic

I N T E R N AT I ON AL INVE STO R MAGAZ INE

NOW YOU ARE EXPANDING TO JUMPERS AND LONG-SLEEVES. WHAT’S NEXT? DO YOU HAVE A SPECIFIC LONG-TERM VISION OR ANY EXCITING DEVELOPMENTS IN THE PIPELINE YOU CAN SHARE?

Let’s see. The Son of a Tailor product pipeline is not expanding super fast. We want to make sure that every launch is perfect and provides the perfect fit. But there are indeed many subcategories within t-shirts, jumpers and knitwear to come!


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International Investor Magazine Summer 2020 by International Investor - Issuu