VASQUIAT, private online club to buy luxury fashion

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ASQUIAT is a web portal that offers luxury products at reduced prices thanks to early sales – pre-orders – or in other words: the sooner an item is purchased, the greater the discount enjoyed. Likewise, this system allows them to incentivize true fashion lovers and trendsetters, the so-called trendsetters. VASQUIAT not only allows the preview of new season pieces that have not even been manufactured yet, but also offers the possibility of buying them at reduced prices, which increase as the official launch date approaches. In this sense, the model is opposed to that of usual sales, or second-hand stores.

But this is not just an advantage for fashion lovers: by charging in advance, brands can offer a price reduction to the consumer while reducing the risk of their collection. It also generates the possibility of a more careful production, which makes them more economically and environmentally sustainable. "If we get customers used to waiting to receive an item again, we will have a more sustainable and satisfactory industry for all its actors," says Rafa Blanc, co-founder and CEO of VASQUIAT.

That is why Blanca Miró, an influencer focused on the fashion world with more than 227 thousand followers on Instagram and collaborations with brands such as Chanel, YSL, Dior or Loewe among others, and Rafa Blanco, a young Catalan entrepreneur with experience in companies such as Procter & Gamble and Reckitt Benckiser, decided to bet on their own project with this fresh and groundbreaking idea: the first online platform in the world to offer early booking of new luxury fashion collections at an exclusive price.

After a few months since its launch, VASQUIAT has more than 1,000 members in total, mainly from Europe and, to a lesser extent, the United States, and more than 2,000 access requests. In addition, it has already been echoed in the international press, specifically in magazines such as Marie-Claire Paris, Vogue Spain, Vogue France and Fashion Network UK.

IF YOU PAY LESS IT IS BECAUSE YOU ANTICIPATE

On the other hand, the website provides very valuable information to brands about their customers' opinions on new collections, allows them to have access to new customers from their same target and does so while maintaining the exclusivity that characterizes them so much. Only people who have received a special invitation or request access and are expressly admitted by the steering committee can access the website. This allows brands to offer discounts through the exclusivity of a private club.

All users who are part of this private online club will be able to enjoy brands such as Cortana, with collections inspired by the Mediterranean and created by the Mallorcan designer Rosa Esteva. Dresses with ethereal prints from the Chufy brand, inspired by the designer's travels around the world. Or high-quality knitwear from the Belgian Valentine Witmeur Lab. Accessories such as jewelry from Wilhelmina Garcia, bags from Adriana Castro, Bailan Pellettiere or Clémence Flane can also be found, and hats and bags from the French D'Estrëe also have their space, as well as scarves and jackets by international designer Charlotte Simone.

These brands are aware of the radical transformation that the fashion industry is currently experiencing. According to VASQUIAT's conclusions, 70% of sales in this sector are already generated to some extent in the digital environment, specifically on online platforms such as Instagram or Amazon. The startup, therefore, presents itself as a new sales channel in this environment. In addition, the emergence of new trends such as fast fashion, led by brands such as Zara, has allowed consumers to accurately follow the latest fashion trends at very low prices, and the VASQUIAT model also provides competitiveness in this regard.

The evolution of society is also playing an important role in this paradigm shift, as it is currently possible to compare prices immediately. On the other hand, we are increasingly exposed to information that makes it difficult for companies to retain consumers without offering discounts or much more competitive prices.

"We believe that in a digital world it no longer makes sense for stores to have premiere access to new collections. Our vision is to seat the final consumer here through a luxury crowdfunding platform. If you pay less it's because you anticipate," says Rafa Blanco.