When we think about online shopping, we most often think about Amazon. However, this could slowly change as there is a new kid on the block. Dote, a startup that provides exclusive fashion products to consumers, could turn out to be a potential threat to Amazon’s fashion business.
Dote recently launched an app which is thought to be direct competition with Amazon. Speaking on the app development, CEO Lauren Farleigh said there are brands who don’t want to post their products on Amazon as it impacts the overall brand image of these products. She emphasized that people don’t want to install multiple applications for different types of products in the fashion segment either.
Dote’s new mobile app will help brands like Sephora, Victoria’s Secret, and Gap sell their products.
Farleigh has indicated that the design of the new app will appeal mostly to millennial customers, in the age range of 15-35. There are various investors who are vouching for her project, with Lightspeed Ventures leading the latest fundraising round of $7.2 million.
Commenting on Dote’s concept, Jeremy Liew said that the concept is interesting, where they have created an app that operates like entertainment, giving a unique experience to customers. This unique concept, specially targeting women has encouraged Lightspeed Ventures to invest in Dote.
Dote is a free app that users can download from the store. Once done, users can select the choice of brands they are interested in and the app will notify them about offers and discounts. There is a social element also where users can see what their friends are buying after connecting relevant social media platforms to the app. The company takes a percentage of the sales when a product is purchased through the app.
Anirudh M. for TechFunnel.com