The Floorr debuted earlier this year, revolutionizing the digital styling industry by arming individual consumers and professionals with the tools to manage and grow their businesses amidst a rapidly evolving landscape. Available online, The Floorr offers tools to manage sales, host personalized styling sessions, create mood boards, and engage in text or voice conversations with customers all in one convenient location.
The corporation recently debuted “Styling Sessions,” a pioneering tool empowering hairstylists to craft comprehensive looks by combining products from The Floorr’s marketplace, uploading images or snapping in-store items using their smartphones.
Moreover, The Floorr formally introduced its $1.7 million pre-seed funding round on Thursday, backed by Carmen Busquets, co-founder of Net-a-Porter and investor, as well as Nigora Tokhtabayeva, a jewelry designer and founder of Tabayer, who also serves as an adviser to the company.
Since establishing her career as a gross sales affiliate at Harrods in 2000 and later transitioning to a management role for Net-a-Porter’s private buying service, founder Lupe Puerta has observed a significant trend amongst luxury brands to leverage digital platforms to enhance the one-on-one styling experience.
Virtual consultations and online styling services have become ubiquitous in today’s digital landscape. Companies such as Wavex, Publicis.Sapient, and Accenture Interactive, among others, offer digital transformation services. As the popularity of discovery platforms, marketplaces, and subscription boxes continues to grow, finding carefully curated looks becomes increasingly effortless.
While digital opportunities for solo stylists, especially freelancers, remain somewhat limited nonetheless, “I sought to craft an app that my community desired by empowering private consumers with the tools to create beautiful content seamlessly in one spot and facilitate instant interaction with clients,” Puerta explained to TechCrunch. “As an alternative to creating PDFs, sharing screenshots via WhatsApp, or sending emails, [The Floorr] streamlines all tasks into one intuitive hub, granting users seamless access to business insights and analytics – empowering entrepreneurs to thrive.”
On the platform, another key tool available to users is a comprehensive sales dashboard designed specifically for stylists. This intuitive analytics interface provides valuable insights into their performance, including metrics such as total clicks, orders, product purchases, and weekly/monthly revenue.
Stylists and their clients gain access to an extensive range of premium products through strategic partnerships with prestigious retailers such as Bergdorf Goodman, Browns, Chloé, Farfetch, Neiman Marcus, Net-a-Porter, Saks Fifth Avenue, and SSense. The company has expanded its list of participating retailers, recently adding affordable brands such as Aldo and Zara.
Notably, private consumers receive an 80% share of gross sales, with The Floorr retaining a 20% commission. In comparison, private consumers typically earn less in traditional retail environments, with earnings varying depending on the source and the products being sold. The standard markup on clothing items is typically around 50% to 100%. Regardless of the luxury trend, it’s likely that speed will slow down.
According to Puerta, in a typical multi-brand retail environment or in-house model, customers and front-line staff typically receive a basic salary that varies based on their level of experience. Commission earnings can also come into play, ranging from approximately 0.5% to 2.5%, contingent on the consultant’s level of experience and monthly sales volume.
To date, the corporation has successfully on-boarded 200 private consumers.
Through its consumer-facing platform, The Floorr empowers clients with an affinity for luxury and the financial means to indulge in it by pairing them with a personal stylist who can cater to their purchasing needs through seamless remote consultations, obviating the need for in-person meetings. Prospects are personally invited by a stylist to take advantage of our exclusive services.
The floor’s clientele comprises high-profile individuals, encompassing both esteemed enterprise professionals and renowned Hollywood celebrities. Based on company records, the average order value typically stands at $2,500. The highest order this month reached a remarkable $130,000, thanks to Puerta’s reputation for excellence.
A production-ready Android version is slated for release at the end of 2024, with a forthcoming introduction of video conferencing functionality.
