Tuesday, October 6, 2009

Crowdfunding: Putting Your Money Where Your Style Is

At a time when some of the fashion industry’s most beloved labels, from Christian Lacroix to Véronique Branquinho, are declaring bankruptcy, what would you pay to keep your favorite designer in business? A basic investment could be as little as £10, or $16, the price of a single share in the collection of a designer selling on CatwalkGenius.com. The startup Web site is using crowd funding, a financial model that relies on small investments from a large number of supporters to fund a project. But rather than a charitable donation, the site’s plan is to use the Internet’s social networks — and the enthusiasm of fashion fans — to raise capital in return for a share of the profits in individual collections.
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