In the same way that you would search for an article online using an algorithmic-based site like Google, you should be able to find an article of clothing that suits what you want. With the NYC startup Fynd, you can simply like certain objects and narrow in on the perfect outfit for whateverthe occasion. Whether you are looking for that perfect bridesmaid dress or an outfit for your 3-year-old nephews birthday, you’ll Fynd exactly what you want.
Today, we touch based with CMO and cofounder Charese Embree about the new way to shop for clothing and get a peek on which sectors Fynd plan to hit next.
Tell us about the product or service.
Fynd is a fashion search engine where shoppers “like” their way to the perfect look. Using a combination of algorithmic-based search and machine learning technology, Fynd lets shoppers visually search for the perfect outfit while connecting them to leading luxury retailers.
How is it different?
Unlike other online retail sites, Fynd utilizes machine learning and artificial intelligence to ‘learn’ a customers’ preferences, guiding them to the perfect item quickly. After entering an initial search term, customers can ‘like’ displayed images to further refine the search. Fynd’s engine then automatically curates and suggests other styles based on those “likes” and instantly connects shoppers with trusted luxury retailers to complete their purchase.
What market are you attacking and how big is it?
The market we’re initially targeting is apparel and accessories, which accounted for over $63.5 Billion in online sales in 2015. However, our ultimate goal is to expand to other retail categories, which is estimated to grow to over $370B worldwide by 2017.
What is the business model?
Our business model is referral based. We collect a percentage of the completed transactions from the retailers we work with.
What inspired the business?
Most working professionals don’t have the time to visit multiple brick and mortar stores to find the perfect item, and the online shopping experience overall has become overwhelming and generally unpleasant. We started Fynd to be the concierge service that reconnects consumers with that feeling they get from the visual experience of shopping with a stylist in- person in an easy to use, intuitive and approachable format.
According to your data, what most popular for the spring/summer season?
We’ve found that the hottest trends coming into the Spring/Summer season are ‘off the shoulder’ tops and dresses. More specifically, both lace and denim garments are particularly popular, and anything red.
What are the milestones that you plan to achieve within six months?
Our goal in the next six months is to expand into additional women’s ready to wear (RTW) categories, and into men’s and children’s wear as well.
What is the one piece of startup advice that you never got?
We never realized (and wish someone would have warned us) that we would need to go through multiple iterations of the product before we found the right version to put in front of the public at large.
If you could be put in touch with anyone in the New York community who would it be and why?
Anna Wintour or Marc Metrick (the CEO of Saks Fifth Avenue)
Why did you launch in New York?
New York is where the heart of the fashion industry beats in the U.S. Coupled with the vibrant and growing tech scene, it made launching here an easy decision.
What’s your favorite rooftop bar in NYC to unwind?
This one is a bit of a tossup; my favorite rooftops are the SoHo House or the Standard.
