Lawrence Lenihan, managing director of FirstMark Capital, argues that the Internet provides a new model for building fashion businesses based on passionate and intimate relationships with consumers, but the maximum market size for these companies is inherently capped, something that overcapitalised entrepreneurs, and the investors who fund them, too often fail to recognise.
Today, Lawrence Lenihan, founder and managing director of FirstMark Capital, examines the burgeoning interest in fashion-technology startups. NEW YORK, United States — Fashion is an incredible industry. It’s sexy, it’s glamorous, it’s exciting. But it’s also incredibly complicated and the amount of change the Internet and other technology innovations will bring to this industry in the next decade will be mindboggling. Indeed, our
In Part I, we examined the innovations and infrastructural advances that have improved the historically poor economics of e-commerce and set the stage for a renaissance in online retail. Today, we explore some of new and exciting business models taking shape, the companies exploiting them and the challenges they face. SAN FRANCISCO, United States — For years, e-commerce suffered from capital inefficiencies and complexities that