How To Bring Products To Market Faster
"Designers always complain that though they build beautiful collections, their best pieces never see production because retail buyers don't see a market for them," says Aslaug Magnusdottir. The former fashion consultant and investor was VP of products and services at flash-sale site Gilt Groupe when she got to thinking: If a designer wants to sell, why give the retailer all the control? Last year, she launched a site to let shoppers preorder pieces right after runway shows, six months before they may hit the floor of, say, Barneys. "No one thought anyone would purchase luxury items online, but we help our customers feel comfortable by offering style advice through editorial content and personal stylists," she says. It works: 250 designers now offer their wares, and the average purchase is $1,400. When you have that kind of money to spend right now, why wait?
At age 4, decides she will eventually own 365 dresses, inspired by the children’s story “Princess Penelope’s 365 Dresses”
Moves from Los Angeles back to Iceland to enter a classical ballet program at the National Theater
Runs a modeling agency during college
Gives birth to son Gunnar August Thoroddsen
Forms a political movement within the Independence Party of Iceland to promote women’s rights
Appointed chairwoman of the National Ballet Company of Iceland
Becomes first Icelandic woman to receive her MBA from Harvard Business School
Founds investment company with retail icon Marvin Traub to invest in early-stage fashion companies
Founds Moda Operandi; owns more than 365 dresses
A version of this article appears in the June 2012 issue of Fast Company.