Digital Start-Ups LIGHT of Snap Fashion
them.” In the end Jenny went down the affiliate route, which involved her pitching to some of the biggest UK fashion retailers, who were clearly impressed with the concept of shopping based on visual images. Snap Fashion now has over 170 on board, including French Connection, Jigsaw and Warehouse, plus major department stores such as Selfridges, Harrods and Liberty, with plans to attract smaller boutiques, and based on customer feedback, develop a version for men’s fashion.
Jenny’s pitching skills had also paid dividends in her search for investment. Deciding against approaching the banks for funding, she focused on attracting angel or VC investment. “People are often daunted by the prospect of pitching, but although it has been a case of learning ‘on the hoof’ I really enjoy it. However, in the current financial climate securing investment funding is extremely tough; people either get your business and its potential or they don’t. One thing I’ve learned is that you have to get in front of the right investors, people who really understand your product. We secured £300,000 of VC funding in the first round, with a second round being planned.” And Snap Fashion will need it if it is to remain competitive and at the cutting edge in the fast growing fashion technology market. Its USP, the visual search facility, is based on colour and cut, but software developers are already creating visual search apps based on fit technology; the next best thing to the in store changing room.
“It is becoming a crowded marketplace, however we are planning to include a body shape analysis facility, where you take a picture of yourself and use it to find the right style of clothing,” says Jenny. One factor that will have a significant impact on technology development for the likes of Snap Fashion is the pace of evolution in mobile phone technology and design; with larger clearer screens and better user interfaces offering even greater scope for search based on visual imagery.
Jenny says: “At the moment the Snap Fashion app is only available for the
29 entrepreneurcountry
iPhone, but we will be extending this, initially to Android phones, and we are also starting to explore potentially huge opportunities in overseas markets.”
Snap Fashion has made remarkable progress in a relatively short space of time; growing from a ‘one woman’ operation to a team of six, and boasting the Cisco BIG award and the top prize at Decoded Fashion’s pitch competition last year among its accolades.
Jenny says her only regret is that she didn’t take the start up plunge sooner. “When you get a job, as I did after graduating, you have security, and that is hard to give up in exchange for the uncertainties of running a business. But if you are confident in your business and its potential to be successful, it is worth taking the plunge sooner rather than later.”
Snap Fashion is available on the App Store or find out more at
www.snapfashion.co.uk.
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