W Concept launches the Funding Shop
today Oct 9, 2019
Premium e-commerce platform W Concept is taking its mission to support independent designers one step further with its second release from the Funding Shop.
The funding shop program, which launched this fall, allows customers to shop independent designers as ‘funders’, essentially paying in advance and allowing designers to receive a large batch of orders - and funding – to propel them into large production.
Customers can expect to shop products at markdowns averaging about 40 percent off, during a span of ten days. Each funding program release, has just six products available for pre-order, and available for delivery within two weeks.
Last week, W Concept launched its second release featuring a leather bag by Stockholm based accessories brand Little Liffner; booties by Seoul-based creator Reike Nen; a teddy bear boucle jumper by Mol by More or Less, and more.
Customers have until October 15 to “fund” products and take advantage of low prices. Still, if designers can’t reach their funding goals, final orders will not go into production and “funders” will be sent refunds.
Considered one of the top three e-commerce retailers in South Korea, W Concept is known for their mission in bringing in local Korean designers to Western markets in a format much like Farfetch. Their online site has grown to feature the work of over 2,000 brands, since launching as an e-commerce platform in 2011.
On October 10, W Concept will also be partnering with department store Bloomingdale's for a pop-up as a part of their Carousel series.