Vintage threads

Posted by mike
Next Step Pattern

What was the proposal?

Halfway through 2016, Veea Group was approached by Vintage Threads, a vintage clothing company founded by a driven young graduate from Newcastle University.

The Vintage Threads team were after investment and guidance to improve their online platform as well as continue to grow their customer base.

1: The Business:

✓ Vintage Threads is a business that was developed to offer people an affordable and eco-friendly way to buy clothes.
✓ Each item at Vintage Threads is handpicked and refined from around Europe to ensure the best quality vintage items.

2: Strategy:

• The retail industry – since the growth of e-commerce – has become fiercely competitive.
• Having the correct strategy for pricing and brand positioning was going to be crucial to help this start-up grow.
• The initial investment of £10,000 Veea Group provided was vital for getting this business off the ground. It enabled further development of the website, camera equipment and a social media marketing campaign.
• With these parts of business in place, Vintage Threads had the platform to acquire new customers.

3: Results:

✓ Social media following: 15k
✓ Orders-to-date: 650
✓ Average customer spend: £40
✓ Revenue growth Q1 2017 vs. 2018: 120%

4: Looking Ahead:

✓ As we look ahead, Vintage Threads remains on a path of steady growth. With a strong consumer base and a clear new customer acquisition strategy, Vintage Threads can move the business into other European markets. Since 2016, Veea Group continues to support the company as well as offering valuable support and guidance.

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