Wannier had a degree in textile design and an MBA, but she had a lot to learn about the garment industry. And while she had money from the sale of one of her businesses to kick-start MyShape, she needed investors. Most of those prospects were men, and they simply didn't get the concept--until they saw models of various shapes and sizes in leotards, complete with lumps, bumps, and bulges. They were impressed with Wannier's vision and hopped on board, putting up $32 million and helping her develop a business plan while she designed and patented the technology.
Once Wannier had a prototype, she set up an online survey for potential customers. Within 24 hours, she got over 700 responses; a third of them signed up. "We were astonished," recalls Wannier, who double-checked the results just to be sure. "It convinced us there really was a demand."
Wannier had an e-commerce site, but she still needed something to sell on it.
She moved out of her kitchen and into an office and brought in retail specialists who could persuade skeptical designers to entrust their clothes to a start-up without an established reputation. She refers to that period as a "bit of madness."
Today, with 700,000 customers and 300 designers, the site has proved its usefulness. "Some weeks," says Wannier, "we get 100 percent customer satisfaction. And designers are delighted: They get a new distribution channel, absolute customer loyalty, and returns that are 10 percent lower than on other sites."
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