CorpComms Magazine

New Internet start-up, Fashion Stake, is aiming to democratise fashion by allowing consumers to play retailers, investors and critics.

The site will encourage customers to browse on-line collections and then let them make a financial stake in designers in exchange for credits to buy clothes. It will also give them the opportunity to offer reviews on designs and vote on collections.

The application is based on an interactive business model called crowd sourcing where entrepreneurs go directly to consumers for investment, feedback and distribution. It synthesises elements of social media networks - building a profile, commenting on content and sharing images - with the financial dimensions of peer-to-peer lending sites. New designers can use it as a tool to gain an immediate audience for their designs and build a brand reputation without having to win the favour of one of the big fashion houses for funding and publicity.

Other designers have set a trend for projects embracing digital media in recent months. Burberry streamed collections live from Milan in January, and in February the fashion house broadcast its catwalk show live in 3D. Meanwhile Dolce and Gabbana and Marc Jacobs both gave power to the people when the former turned to followers on Twitter for ideas for new collections and the latter's business partner, Robert Duffy, solicited suggestions for the staging of Jacobs' upcoming show - AW10.

Daniel Gulati, chief executive of Fashion Stake, asked 'why should we leave it up to just a couple of people to decide what the public wants? Let's actually just go straight to the crowd. What we're basically doing is redirecting the margin to fans and cutting out the retailer altogether.'

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