Online fashion company FashionStake (www.fashionstake.com) introduced a limited-edition clutch by handbag designer Lauren Merkin today. While designer collaborations have been extremely popular in recent years, this collaboration is unique: as with all FashionStake collections, this handbag has not yet been produced. Instead, the crowds are responsible for determining whether or not the handbag is ever made at all.
Lauren Merkin’s fundraising target is $10,000. This means that the handbag goes into production if, and only if, it can attract $10,000 in support. Funds are raised when customers support the collection in 1 of 3 ways:
– Buyer. Buyers can pre-order the handbag at a 40% discount
– Funder. For $50, customers can own a ‘Stake’ in the collection. Funders receive store credit (up to $125
on a $50 Stake) depending on how well the handbag eventually sells
– VIP. For $500, customers receive the clutch, a signed dust bag, and a personal invitation to a private
wine tasting event with Lauren Merkin in New York City
Most famous for her ever-popular clutches, Lauren Merkin has firmly established her brand over the past decade. Her handbags can be found in over 300 stores worldwide, including Neiman Marcus and Saks Fifth Avenue. Lauren explains her rationale for choosing to work with FashionStake: “It was an incredibly new and unique concept, and we were excited to interact with our customers in a truly personal way.” For the collaboration, Lauren and her team brainstormed for weeks to come up with “a limited-edition piece that we would not really have the opportunity to sell through our traditional channels.” The result is a lingerie-themed twist on their classic Louise clutch that can be “dressed” in different coverings or worn on its own.
The timing of this collaboration is no accident. The handbag, which comes packaged in a keepsake box with satin ribbon, is presented as the “perfect holiday gift.” If the fundraising target is reached, the handbag will be produced and delivered in time for the holiday season.