Because Magazine Screenshot | Source: Because

LONDON, United Kingdom — Fashion editorial has long been a powerful generator of purchasing intent for brands. But ‘intent generators’ like magazines often lose their fair share of sales revenue to ‘intent harvesters’ like retailers further down the purchasing path. Squeezed by shrinking ad sales, major publishers like Condé Nast have become increasingly aware of this missed opportunity — and more and more magazines have learnt to think like retailers, embracing e-commerce to open new revenue streams and monetise their content.

Now, digital start-ups like Because Magazine, created by the team at Tank, are building commerce directly into their business models from day one. Soft-launched back in September of 2009 and currently in public beta prior to a “full scale” launch at London Fashion Week in September, Because is a curated, daily selection of fashion, accessories, jewellery and beauty products that’s a digital storefront as much as an online magazine.

BoF spoke with Caroline Issa, editor-in-chief of Because, to find out more.

BoF: How would you describe Because?

CI: Because is a daily dose of fashion, fun and information. It’s glamourous dim sum, a selection of things to buy, see, listen to, and of course share.

BoF: Why did you decide to launch Because? Why now?

CI: We shop a lot online and what we noticed was that there was nowhere where fashion was editorialised and packaged in a way that best suited the medium. When you shop online, you spend as much time looking for stuff as you do looking at stuff. We wanted to create a curated list, brought to life in the best way possible. Something that was done creatively, with fun and humour, that was shopable there and then. Our aim was to engage people using moving images and inspire them to buy.

BoF: Is everything on Because shopable?

CI: Yes absolutely, even the songs that go with the videos. It’s one of our founding principles to make everything available, so that if you fancy something you click to buy there and then. The word magazine is actually rooted in an Arabic word al makhzan which means ‘shop,’ so all magazines have been waiting for the technology to allow them to be the thing they were always meant to be — a shopfront! Of course, it isn’t a perfect world and a lot of cool stuff isn’t yet available to buy online, so we also pass our members on to the nearest physical retailer and work with retailers to put things aside for those who show an interest in an item that’s not available online.

BoF: Who curates the content on Because?

CI: I choose items, as does a full-time team of fashion editors. We have also invited a selection of editors who specialise in jewellery, accessories and beauty products to contribute. We don’t want too much information and too many perspectives, we just want the right information and opinions from the people I rate and trust.

BoF: How does Because make money?

CI: We have a multi-strand approach: lots of little streams that will join together to make a lovely river we hope. Advertising certainly will have a role, but the existing models around cost per click just don’t add up. We are looking at brand advertising and, of course, we are going to be very selective about the brands we will work with, just as we are in our print magazines. Affiliate sales are another stream, which is already working well. But more exciting is the idea of paid-for and tiered membership which brings with it layers of privileged information and support networks to find bargains and exclusive items, share tips and most importantly get advice on fashion and beauty.

BoF: What new features or iterations can we expect in the future?

CI: Because has been in development for two years and live for nearly one year. The current version is version 1.2. We are working hard for the next quantum leap forward in September with Because 2.0. The beauty of publishing online is the instant reaction you get and your ability to respond. Because 2.0 will be the culmination of one year of talking to and learning from users.

OUR THOUGHTS:

Expectations? We think consumers would love nothing more than to be able to shop directly from their favourite fashion magazines. And while we’ve seen some interesting experiments, we have long wondered why publishers have found it so difficult to operationalise and capitalise on shopable content, connecting their editorial (and not just their advertising) to online commerce. When we heard that Caroline Issa — who has a background in business strategy, as well as an impeccable sense of style — was working on a digital fashion magazine that was completely shopable, naturally, we were excited.

First impressions? The content on the site is beautifully selected. With pieces by Hermione de Paula, Philip Treacy, Christopher Kane and Marios Schwab, alongside some of the more playful offerings from established brands like Prada and Chanel, it’s clear that the product mix reflects a uniquely informed and well-articulated stylistic point of view.

Most potential? The site is nicely packaged for the way people consume content and shop online today. For time-poor professionals, with increasingly short attention spans, the fast, blog-like product stories and bite-sized 30-second fashion videos are ideal for quick bursts of “media snacking” during short and unpredictable moments of found time.

What’s missing? While Because neatly connects online commerce with digestible fashion content that’s curated by influential and opinionated tastemakers, the one thing that’s strikingly absent on the site is the voice of other shoppers. A ‘Like’ button next to each product makes the contents of the site easily sharable across Facebook, but there is no means of visualising and exploring the products other people have found most interesting.

Social shopping sites have proven that people love to see what other people are browsing and buying and that fellow consumers, alongside tastemakers, can be powerful “intent generators” who drive sales. Make no mistake, great fashion magazines are about giving people a stylistic point of view. Curation matters enormously. But as Because Magazine earns attention and grows its readership in advance of its September launch, a more transparent experience, where consumers can easily explore and be influenced by what others are doing and liking, could help the site drive engagement and build an active community of fans.

Vikram Alexei Kansara is Managing Editor of The Business of Fashion

The potential of creative-business partnerships has long been a topic of interest here at The Business of Fashion. However, the focus to date has been on pairings in the fashion apparel businesses — high profile partnerships like those of Tom and Dom and Marc and Robert, or emerging success stories like those of Phillip and Wen of 3.1 Phillip Lim and Victoria and Kikka of VPL.

I recently came across a partnership from a different part of the fashion business altogether — but one with equally remarkable results. Over dim sum and jasmine tea, Masoud and Caroline, the creative-business partners behind Tank, told me how they have developed their fledgling magazine business into a full-service creative agency, described their complementary roles in the business, and shared the (top-secret!) details behind an exciting digital media project which is in the works.

Masoud Golsorkhi founded Tank in 1998 on the same kind of creative passion from which many fashion businesses have been born. Working out of his living room and building on his experience as a fashion photographer for prestigious titles like Interview and Harper’s Bazaar, Tank quickly became a must-read for the global fashion insider set. In 2002, Australia’s The Age called Tank the “hippest publication on the planet.”

Hip though it may have been, things weren’t so rosy on the business side. While Tank was run on Masoud’s boundless creative energy, there was little in the way of business strategy and structure — another thing that Tank has in common with the nascent fashion labels often featured on its editorial pages. Looking back at those exciting yet daunting days, Masoud says, “Tank was a basket-case.”

Enter Caroline Issa. Armed with an MBA from Wharton, several years in management consulting, and a sharp fashion sense honed on the hip streets of Montreal and the runways of Milan, Issa proved to be the perfect foil for Golsorkhi. “Masoud is a creative genius,” Caroline told me. But when she first encountered Tank, she found “a business that was small, challenged by market forces and competition, and disorganized. I felt like I could use my consulting experience to the business around.”

And that she did. Tank is now also a thriving agency that has served the creative image needs of international brands like Prada, Levi’s and Swarovski, generating additional revenue streams by leveraging Masoud’s creative eye and Tank’s street cred.  Work for O, the Observer’s highly-respected fashion supplement, has brought Tank’s point of view to a wider audience that goes beyond its core fashion insider fans.

But the real secret to their success is not simply a smart business strategy. The best creative-business partnerships are based on a deep mutual respect and on knowing what you don’t know. Caroline and Masoud are clearly in tune with each other. Masoud may be the out-of-the-box ideas guy, but Caroline knows how to make them work from within the context of a business. She is not your typical management consultant. She has a real understanding of fashion as a product and metier, with a passion for the creative talent that lies at the heart of the industry.

In September, Tank turns 10 years old, a perfectly good time to reflect on the trajectory of their business. But Team Tank is not one that look backwards. They are also building the foundation for a new media project which they hope will take the fashion industry by storm. Watch this space as the top secret project is unveiled in the coming months.

Photos courtesy of Tank.