Marc Jacobs

Marc Jacobs has the midas touch and an innate ability to design clothes that people want to wear. Whether he designs a satchel or a shoe it's always something everyone wants. From grunge to prom, from private jet to Tokyo nightclub, he has an outfit that suits.

His workload includes Marc Jacobs, Marc by Marc and Louis Vuitton -  a titanic selection of back to back collections but he still has time to build a world class contemporary art collection and dress in pigeon costumes at his annual fancy dress party.

 
He has caught the fitness bug like so many male fashion designers. His muses include Sofia Coppola, Charlotte Rampling, Winona Ryder, Dakota Fanning, Victoria Beckham - all have been photographed by Juergen Teller for Marc Jacobs ad campaigns (Mrs Beckham was hidden inside a Marc Jacobs shop bag after Juergen persuaded her that she was "just a product").
 
• Born in New York City in 1963
• His grandmother, who he credits with being "the biggest influence in life", taught him how to knit.
• At 15, Jacobs worked as a stock boy in New York's trendy Charivari boutique and it was there that he was introduced to Perry Ellis who "embodied cool to me. He had long hair; he didn't wear a suit and tie, and he made funky clothes that were a big success. He gave me a lot of hope"
• Jacobs studied at the Parsons School of Art and Design in New York where he won the Perry Ellis Golden Thimble award in 1984
• He designed a radical grunge collection for Perry Ellis but they laid him off in 1992 - the year he won the Women's Designer of the Year award from the Council of Fashion Designers of America
• Two years later he launched his eponymous label, supported by models Naomi Campbell and Linda Evangelista, who worked for free. They were clothes for "a woman who brings home the bacon, but also fries it up in the pan"
•  In 1997, Jacobs was appointed creative director of Louis Vuitton where he developed the company's first ready-to-wear line 
 
At Louis Vuitton, he has been triumphant in revamping the famous accessory line and has collaborated with the likes of Steven Sprouse, Julie Verhoeven, Takashi Murakami and Richard Prince.
 
Marc Jacobs spends most of his time in Paris, where he lives with his vast contemporary art collection and bull terrier Alfred - who he has tattooed on his arm. 
 
Marc Jacobs, 72 Spring Street, New York, NY 10012
Tel: +1 (212) 343 0222

www.marcjacobs.com

www.louisvuitton.com

• • Yve0 April 2008

A penny spent is a lot of time saved

• Josh Mehlman
• 6 October 2009
• Page 1 of 2 : single page

Penny Flanders launched second-hand clothing emporium Miss Money Penny in February 2009. The idea behind it occurred to her about six months earlier. 

"Within the space of four weeks, about five girlfriends said to me, ‘I've got all these clothes in my wardrobe and they've got tags on them and I don't want to take them to markets, and I don't like eBay, and I don't want to go down to consignment stores because they look you up and down'," she says. Spotting an opportunity, Flanders entered a national competition for women trying to start an online business, and won. She received a free website design as part of the prize, and got things going.

More than six months down the track and Penny has over 200 sellers, but is finding the administrative side of the website is slowing her down because she has to approve and reformat each item for sale. She is worried that the site isn't earning as much income as she would have liked. And she would like to know the best way to promote the site to get more sellers listing their products, and more buyers looking to buy them.

Challenges:

1. Reduce the amount of time spent manually updating the website 
2. Grow the site to the point where it's earning a decent income
3. Promote the site to get more people buying and selling

The panel

• Jonathan Crossfield, Netregistry.  Expertise: online content
• Laurence Harrould, Aviel. Expertise: business and personal coaching
• Terri Winter, top3 by design. Expertise: online retail
• Josh Mehlman. Moderator

Challenge 1: How can you grow a business if you're drowning in admin work?

Josh: Penny, you mentioned that a lot of people don't like eBay. What's wrong with it?

Penny: There is a lot of clutter to get through. My buyers don't want to fossick around for things, they want to have all of the hard work taken out of it for them. They don't want to search through 1500 dresses on eBay, they just want the cream of the crop already selected for them by our professional stylists.

Josh: That's very similar to the model Terri's design store is based on.

Terri: Our business is very much based on curating and editing a selection. Fashion adds that other dimension of difficulty because there is the aspect that people have to feel comfortable it's going to fit.

With my shop, you don't have to check if a candelabra fits you or not. Do you reject some of the products people put up for sale?

Penny: I do, that's my key point of difference. But this is a big issue for my business because it makes admin very extensive. I actually don't get a lot of submissions that aren't right, but the system I'm using slows me down.

“Any business that’s actually profitable in the first year is pretty unusual, given that that’s when you’ve got all the expenses and no income”

I get the selling forms that sellers have submitted with images attached. I have to resize the images in Photoshop, re-upload them onto the system and fill out all the product description details.

For each item, it takes me about 15 minutes. So, if I'm listing 100 items a week, it's a whole lot of administrative work that is taking me away from marketing the business.

Jonathan: Is there a reason you don't have the system set up for people to create their own listings in the correct format and have them in a holding pattern for you to hit ‘approve'?

Penny: I didn't have a lot of money to spend on developing a website and I believe it is quite expensive to get one built from scratch with that functionality.

Terri: I think that your workload is going to be too high, too manual, especially as your business grows. That's kind of what's happened to us, because a lot of our systems were very manual. It's better to start the right way, even if you're not as busy now, because you get the right systems in place.

What if products automatically went up, but then you had some sort of system where the community could vote on things and send you notices if they thought something wasn't appropriate?

Jonathan: You've got to weigh that additional cost against the extra time that you're putting into it at the moment, because that is also a valuable resource. If it's taking you all these extra hours to do that work manually, you need to work out what is the dollar value of that and decide if it's worth putting that money into the website instead.

Terri: In another couple of years when you're even busier, you won't have the time to do the upgrade properly. It just gets harder and harder.

Challenge 2: How long will it take until the business is profitable?

Josh: Laurence, you've worked with quite a few start-up businesses. How long generally does it take before things really kick off?

Laurence: Well, the general figure is that you've got to give it three years. Any business that's actually profitable in the first year is pretty unusual, especially given that that's when you've got all the expenses, the set-up costs and no income. So you can pretty much write-off the first year.

Penny: Good, I feel better about that.

Laurence: The fact that you are about six months in and you're starting to think about how your processes are going to work, I think that's pretty standard.

Penny: I guess I was nervous about whether the concept was going to work. If I grow, I get nervous because I've just got all this admin to do. I'm even thinking of putting on a junior for $15 an hour to help me, as an interim thing. But it sounds like I would be better off investing the money in a system that is more automated.

Jonathan: If you know it's not working perfectly now, you're not in the best position to make a judgment call. I think you really need to look at fixing these issues and then give it some time when the website is working at its optimum. Then see if your sales are increasing each month. Even if it's not going as quickly as you'd like, you can see if the trend is going in the right direction and work out how long it's going to be before you hit that sweet spot.

Penny: The thing that's worrying me at the moment is, some things are selling really quickly but there are others that have been on there for a while and people are getting disappointed that it's taking so long.

Josh: I don't usually give advice, but one of the things about selling online is there may be items that sit there for ages until someone comes along and says, "Oh, my goodness, I've been looking for this for five years and you finally have one."

And since it doesn't cost you anything to hold the inventory, I can't see the harm in having those kind of long-tail products on your site.

Laurence: The big thing is to work out your vision for the business, in terms of the site itself, the technical side, the income you're expecting out of it, the lifestyle you want and what the brand will be. Then think about what you want to be doing in four years time; given the whole internet world will be totally different then, start looking at what you need to set up now - systems, processes, the technical stuff - so that it can grow with you.

Challenge 3: How do I build up my customer list and grow the business?

Jonathan: How are buyers currently finding this site and making the purchase?

Penny: A lot come directly to the site as a result of PR that I've done, but that's only going to last so long because it was new and exciting.

I've also done some newsletter ads on Missy Confidential that have been really great, but it costs me $500 every time. It's a great member acquisition program but I don't make any money out of the sales.

Jonathan: When you get people coming to your site based on your PR activities, they are already informed about the brand before they go to the site. You want to get the site to a stage where people visit without you necessarily having communicated that message to them directly.

When I went to the home page, it doesn't scream to me that this is a second-hand clothing site where you can buy and sell. If you go to the homepage of eBay, it is very, very clear what eBay is. Although your homepage looks great and it has been well designed, it says nothing about what the purpose of the site is.

With websites, experts estimate you've got about four seconds to get your message across before the reader clicks away to find something else.

Laurence: It actually took me a while to work out how you actually buy anything on the site. It almost feels like it's easier to sell things than to buy them.

Jonathan: How many sellers do you have on your site?

Penny: Probably about 200.

Jonathan: They are your best resource to work out what to do next. Ask them, "How would you like this site to work?" They might have some fantastic ideas that you haven't thought of and that we can't come up with, because we're not selling antique cocktail dresses.

The more you can get your website to not only make the listings but market itself and create the sale, then you can sit back and let the community grow your website for you.

Josh: OK, so that's the sellers taken care of, but it sounds like you need to drive the number of buyers so there's more interest.

Penny: Definitely. That would keep the sellers happy as well, because they're only going to sell as long as the gear is moving quickly.

Laurence: Is it mainly your sellers who buy from each other, or is it a separate group of buyers?

Penny: I get a lot of buyers coming in from my newsletters. I'm starting to send out a weekly newsletter, listing all the new products that have just come in, to about 1500 people. The benefit of signing up for the newsletter is you get to see it before anyone else does.

Terri: That's your best bet really, especially when you don't want to spend a lot of money.

Penny: That's actually working really well, so my key objective is to build up that database and get people to subscribe. I had a newsletter promotion where you could win some earrings if you spread the word.

Jonathan: Here you already have 1500 people who have signed up for the newsletter and you probably get quite a few sales from that email marketing.

I'm thinking your email marketing is your best strategy to acquire new customers. How do you get them to sign up? You've got to give them something of value to make them want to enter their email address.

At the moment, you've just got the one word ‘subscribe' on your site. If the email newsletter is going to be your front line strategy, it needs to be front and centre on your site. It is going to be about how you can convert people into newsletter subscribers and then convert people from the newsletter into sales.

You might rejig the homepage to make room for some items from the newsletter. Then you could say: "Sign up for our newsletter and get 10 more of these exclusive items in your email inbox every week."

Terri: If you're going to put yourself out there as editing the collection, you need to enhance your credibility as knowing what's a hot buy and what's not. You could have an editor's pick maybe and add some editorial comments to what the people are saying about the clothes they're selling. #

Miss Money Penny Event: Review

Miss Money Penny's Second-hand Fashion Emporium

is hosting an Exclusive Spring Racing Designer Sell & Shop Event on Thursday October 15th at Hotel Nest in Albert Park Melbourne. The first of its kind, the event unites the ‘Fashed Up / Cash Poor ladies with the ‘Champagne Tastes on a Beer Budget’ fashionistas. This exclusive event facilitates a chic-o-nomic way to prepare for the Melbourne Racing Carnival where women can Sell, Shop & Hire designer fashions over bubbles, massages and canapés in a stylish setting.

100 lucky ladies will be able to make some cash and grab a designer bargain over drinks and canapés whilst being attended to by hair and make-up artists, manicurists and massage therapists from Makeovers, Manicures & Martinis all while being entertained by MC Ann-Maree Biggar. Professional Stylist Bronny Fraser from Style Establishment will also be on hand to advise on how to pull a fabulous races outfit together. Design Industry trend forecaster and adviser Kate Vandermeer for iSpyStyle will present some of the hottest looks of the season and how to pull them together.

Once the frock is sorted, ladies will be able to move onto accessories with hip handbags and accessories for sale by Tribu, and, the all important icing on the cake, the hat from exclusive Melbourne Milliner Julie Fleming on hand to give advice and complete the perfect outfit.

 If the perfect outfit cannot be bought, there is also an opportunity to hire one of the latest designer dresses and handbags from Indian Giver and Style4Hire who will have product on hand to drool over and borrow for the big race days.

There's also great raffle prizes from Blackberry, Cristina Re, InStyle and Marie Claire Magazines, Tipsy Toes, Hotel Nest High Tea for 4 to be won!

 How it works;

1)      Purchase a ticket $35 pp includes bubbles on arrival, canapes and all of the above. Further drinks can be purchased at a discounted rate by Hotel Nest at $5 for house wines and spirits). Register your details at the registration page here

2)      If you wish to sell on the night, (and you can just come to buy),  you can bring up to 5 items (clothing or accessories - see guidelines on the site as to what is accepted). Normal 20% commission applies and will be paid directly into sellers account the following day

3)      Pre-register the clothing you wish to bring and sell on the Registration Form - FAQs on pricing and product to come!

4)      Event venue is Hotel Nest 111 Victoria Avenue, Albert Park (www.hotelnest.com.au), Melbourne

5)      6.30-7.30pm  Arrive, register clothing & mingle, manicure, massage & drink

6)      7.45pm iSpyStyle presentation, MC Lucky Door Prizes, How Tos

7)      8.00pm Shopping Begins

8)      9.30pm Shopping Finishes – Gift Bags containing fabulous treats to take home

9)     Sellers have the option of taking unsold items home or selling them on the Miss Money Penny online store.

FAQs / The Deets!

What do I bring to sell?

• Please bring along frocks, skirts, jackets, pants, handbags, tops. Anything that could be worn to the races!
• Please ensure it is in excellent condition and clean! Either dry-cleaned or laundered and free of any marks, stains, tears etc. Must be in excellent condition!

How do I price my item?

Price the item to sell as the price cannot be changed throughout the night (anyone could mark it down and we wouldn’t know. Check the Miss Money Penny site for pricing guidelines. Generally something new with tags would be around 50% or less of the RRP you paid. Older things – less.

Can the item price be changed throughout the evening?

No, you need to price the item to sell – we cannot mark-down after the item has been submitted.

Do I have to bring items to sell?

No, absolutely not! You may come simply as a shopper..and to be pampered!

Can I try things on?

Yes, there will be change facilities however they will be modest and mostly communal. For shy gals there will be a screen. So wear nude and nice smalls!!

How will selling clothes work on the night?

• It is important that you arrive on time between 6.30 and 7.30pm.
• Hopefully you have pre-registered what you are bringing on the Registration Form on the Miss Money Penny website where you purchased a ticket.
• When you arrive, your garments / accessories will be checked off a list and placed in their category on racks in the ‘shop’ by category dresses and size) with a price tag and your email address attached.
• You will be given a cloak ticket as a receipt and, at the end of the night will be able to check with one of our assistants against a list if it is still there or has been sold.
• When people buy at the register, they will leave the tag with us and we’ll also check the item off our pre-reg list
• If it has been sold (you have pre-registered you details) we simply make payment to your bank account in the following days – less 20% commission
• If the garment has not been sold you may wish to list it for sale on the Miss Money Penny website. We can take a pic and you can take the item home and stay tuned.

What sort of payments do you take?

Cash, credit card or EFT. There is also an ATM on site.

What is the Returns Policy?

Please choose carefully as there are no refunds or returns on sale items. The goods are pre-owned are are sold in their existing condition.

How will the shopping be set up?

Just like a lovely store. Items will be arranged on racks/tables in categories (eg dresses) and then by Size. You will be able to try them on and pay at a regular checkout by cash, credit card or eftpos.

You will also be able to purchase bags, hats and accessories from the other seller and if you can’t find what you like to buy – you can hire a frock from Indian Giver or a handbag from Style 4 Hire.

Can I take my clothes out of the shop before the night finishes?

No! If you need to leave early please arrange for someone to collect items at the end of the evening for you with your cloak ticket.

How will I know if my items sells?

At the end of the evening you will be able to check on our list at the cloakroom when you present your ticket for item collection.

When will I be paid if my items sells?

Payment will be made within the next 5 working days to your account – as per the details supplied on pre-registration.