The Floorr, a luxury fashion startup, empowers personal stylists with tools to grow their businesses
Empowering personal retailers and stylists to manage and expand their businesses in an increasingly competitive environment, the Floorr was introduced earlier this year to revolutionize the digital styling experience.
The Floorr, accessible on iOS devices and the web, provides a centralized platform for conducting sales, hosting customized styling sessions, creating mood boards, and engaging in text or audio chats with clients.
The company has recently launched a new styling tool called “Styling Sessions,” which enables stylists to create complete outfit looks by uploading images or taking photographs of in-store items on their phones or the products from The Floorr’s marketplace.
Furthermore, On Thursday, The Floorr officially disclosed its $1.7 million pre-seed funding round. The funding is being provided by Carmen Busquets, the co-founder and investor of Net-a-Porter, who also serves as an adviser to The Floor. Nigora Tokhtabayeva, the founder of Tabayer and a jewelry designer, is also part of the funding.
Image Credits: App Store Screenshot
Lupe Puerta, the founder of Net-a-Porter’s shopping service, has observed a growing trend among luxury brands to incorporate digital platforms to improve the one-on-one styling experience. This trend has been underway since Puerta began her career as a sales associate at Harrods in 2000 and subsequently transitioned to a leadership position.
Virtual consultations and online grooming services are now more prevalent. For example, digital fashion services are provided by organizations such as Wishi, Thread, and Next Level Wardrobe.
Additionally, the increasing prevalence of subscription boxes (Stitch Fix, Wantable, and DailyLook), AI-powered style assistants, and virtual try-on technology have simplified identifying curated looks.
Image Credits: The Floorr
Nevertheless, digital solutions for personal stylists, particularly freelancers, are still relatively restricted. “I aimed to develop an application that would provide personal shoppers with the tools to be agile, create visually appealing content, and engage with customers instantly,” Puerta stated in an interview with TechCrunch.
“The Floorr enables users to be more entrepreneurial by centralizing all necessary information in a single location and providing them with access to their business and analytics, rather than requiring them to create PDFs, send screenshots on WhatsApp, or send emails.”
A sales dashboard for stylists is an additional tool accessible on the platform. This dashboard provides analytics such as the total number of clicks, orders, products sold, and weekly/monthly earnings.
Due to partnerships with high-end retailers, including Bergdorf Goodman, Browns, Chloé, Farfetch, Neiman Marcus, Net-a-Porter, Saks, and SSense, stylists and their clients have access to a diverse selection of luxury products.
The company has recently included more affordable retailers such as Zara and Aldo in its inventory, which is continuing to expand.
It is worth noting that personal shoppers receive an 80% commission from transactions, whereas The Floorr charges 20%. This is greater than the estimated earnings of individual shoppers in conventional retail environments, which are contingent upon the products being sold and the respondent.
Approximately 15% is the average retail commission rate for apparel. Nevertheless, the rate is likely to be reduced for luxury fashion.
Based on her experience, Puerta stated, “In a traditional in-house brand/multi-brand retailer setting, personal shoppers and client-facing staff earn a base salary that will vary depending on their seniority.”
They may also receive a commission, expected to range from 0.5% to 2.5%, contingent upon their monthly sales volume and seniority.
Up until now, the organization has recruited 200 personal assistants.
On the consumer side, The Floorr enables customers who prefer luxury fashion and the financial means to indulge in it to establish a remote connection with a stylist who will manage their shopping requirements, thereby eliminating the necessity for in-person meetings.
The client-focused application necessitates that stylists personally encourage customers to utilize it.
Hollywood celebrities and business professionals compose The Floorr’s clientele. The average order value, as per the organization, is $2,000. Puerta observed that the most significant order of the month was $130,000.
The company intends to implement video conversation capabilities shortly, and an Android version of the application is anticipated by the conclusion of 2024.