F*CK FAST FASHION: NEW BASICS LAUNCHES CAMPAIGN TO DISRUPT THE FASHION INDUSTRY
NEW BASICS is a fashion start-up that is using Kickstarter’s crowdfunding platform to introduce consumers to the slow fashion movement. The maker of luxury basics launched today with a collection of cotton tees, tanks, crew neck sweatshirts, hoodies and sweatpants that are made in the USA and priced according to its Fully Transparent Pricing model and backed with a 10 Year Warranty. With 29 days left in the campaign, NEW BASICS is almost 50% funded.
January 6, 2015 (FPRC) -- NEW BASICS is a fashion start-up that is using Kickstarter’s crowdfunding platform to introduce consumers to the slow fashion movement. The maker of luxury basics launched today with a collection of cotton tees, tanks, crew neck sweatshirts, hoodies and sweatpants that are made in the USA and priced according to its Fully Transparent Pricing model and backed with a 10 Year Warranty. With 29 days left in the campaign, NEW BASICS is almost 50% funded.
NEW BASICS’ mandate is to provide customers with a new option and to expose the truth of the fast fashion. The business is built on three guiding principles called ‘The Basics’ they are: Transparency, Quality and Integrity. From being honest about their costs to manufacture and having a consistent markup formula that’s much lower than the industry standard, it is clear that NEW BASICS is committed to doing things differently. David Jeffries, one of the Company’s founders had this to say about Quality and Integrity: “We want our costs to be high. That’s counterintuitive to the way most brands think about the fashion business, but if our costs are high and we’re not constantly trying to get them down, then we’re not cutting corners; we’re not skipping steps. We want to sell luxury-level quality and we want to charge the 55% gross margin we think is fair. I find it unconscionable that even some of the world’s biggest fashion brands are comfortable with constantly trying to cut costs while continually raising retail prices. In the end, it’s the manufacturers, individual garment workers and the customers who lose out, never the multimillion or multibillion dollar brand”.
The final of the three ‘Basics’ is Integrity which is comes into play with NEW BASICS’ commitment to domestic manufacturing and their 10 Year Warranty which states that if there is a defect in the materials or construction of the garment, they will repair or replace it. “I think that’s what customers should expect from a brand these days. The rise of e-commerce has given customers so much more choice than they’ve ever had before. It’s not acceptable for brands to be anything less than completely transparent and accountable if they want to keep their customers who are becoming increasingly more selective and are looking for options they can feel good about.” A new study shows that consumers would be willing to pay 15% more on the retail price to know a product didn’t come from a sweatshop. According to the US Department of Labor, a sweatshop is any facility that violates two or more labor laws. NEW BASICS has their own internal auditing process for all its manufacturing partners to guarantee that they are following the law and treating employees properly.
The industry trend toward fast fashion is a dangerous one. Big-box retailers like H&M and Forever 21 thrive on being able to offer inexpensively made pieces that are right on trend. They’re made in massive quantity overseas at the lowest possible price. Consumers have gotten used to having this kind of access, so the cycle continues, but the costs of this type of business model are much higher than it may initially seem. These ‘fast fashions’ are made at the expense of garment workers’ rights, the environment and the integrity of the products themselves.
The typical retail markup is 6x the cost to manufacture. The clothes are made in countries where the average wage is about $5 per week and the average workweek is 72 hours long. The fabrics are treated with chemicals and are of poor quality. Some retailers debut up to 18 collections per year. This is impossible to accomplish without sacrificing on quality in favor of speed. These retailers squeeze every cent they can out of their suppliers, forcing them to drive their prices down in order to stay in business. If a factory can’t keep up with the industry’s need for increasingly fast lead times and low prices, they won’t survive.
NEW BASICS aims to raise $10,000 on Kickstarter in a campaign that ends on February 5, 2015 to fund its first run of inventory. Jeffries explains that Kickstarter is the ideal platform to launch this type of project. “Kickstarter is all about supporting initiatives that better our society. We don’t just want to sell clothes, we want to educate the consumer and empower them to make purchases that they can feel good about.”
About NEW BASICS
NEW BASICS makes premium wardrobe staples - classic sweats and tees reinvented. We believe that quality matters and clothes should be built to last, so we manufacture in America using the best fabrics and trims. Our pricing is transparent, so you know how much your clothes cost to make. Best of all, everything we make is backed by a 10 year warranty and supported by our three guiding principles, called THE BASICS which are Transparency, Quality and Integrity.
For more information contact Lisa S. Brotherton of New Basics (http://https://www.kickstarter.com/projects/1109458512/new-basics-premium-sweats-made-in-usa-w-10-year-wa)
Kickstarter, Lougewear, Crowdfunding
You can read this press release online at: http://www.free-press-release-center.info/pr00000000000000290859.html