A Hermès necktie.A pair of sartorially inclined attorneys, one of whom is based in Washington, think they’ve got the next big thing in online fashion retail.
TieTry.com is the brainchild of David Powers, who works for the firm WilmerHale, and Scott Tindle, who is based in Mobile, Ala., and they bill it as a kind of Netflix for your neck. For a monthly subscription charge, TieTry will send customers between one and five neckties to wear without having to buy. Ties are expensive, Powers says, so why plunk down a wad of cash and be stuck with it when you can loan one for a few days at a time.
“I like Brooks Brothers and Vineyard Vines, but I don’t like paying $90 for a tie,” he said in an interview.
Powers, 30, says he and Tindle got the idea from the reality series Shark Tank, in which a group of venture capital investors, including Dallas Mavericks owner Mark Cuban, hear pitches from aspiring entrepreneurs. Powers cited an episode featuring Toygaroo, a website offering children’s toys for rent that Cuban decided to fund.
But TieTry seems pretty similar to the example set by Bag Borrow or Steal, which offers lovers of handbags an opportunity to tote around, say, a swanky Louis Vuitton satchel for a few weeks at a time. And the pricing model is pretty similar to Netflix’s. Membership begins at one tie at a time for $11.99 a month; it goes as high as $29.99 for five.
Likewise, some of TieTry’s brands are pretty luxe. They’ve got a few ties by Hermès, which normally retail from upward of $180, and some by Fendi and Lanvin. Most of the 40 or so brands are ones you’d find at any shopping mall, but Powers says he’s been rummaging through Washington’s vintage shops and scouring eBay for rare finds. Most of the 170 items in TieTry’s catalog were bought in stores, however.
If TieTry sounds like a tiny operation, that’s because it really is just Powers and Tindle. The site launched last weekend and just has seven customers right now. All the shipping is being done through Tindle’s house in Alabama.
Though Powers mentioned a copule everyday brands above, he’s hoping TieTry can provide a window into fashion lines that might not be in a Wisconsin Avenue window display.
“Benefit is that it could expose customers to new brands,” he says. “We offer stuff you find off the beaten path.”
As far as the ick factor that can come with swapping clothes, Powers says each tie will be thoroughly cleaned once it gets back to Alabama and before it gets sent out again.