Marc Ramelow, managing partner of the fashion house Ramelow, and Martin Brücher, managing director of FASHION CLOUD, a content platform for the fashion trade, presented in a joint talk at solutions.hamburg how established companies can keep up with the speed of digital change without having to deny their traditions.
Ramelow's investment in the start-up has resulted in an extremely fruitful cooperation for both sides. While Ramelow FASHION CLOUD not only provides valuable contacts in the fashion industry, but also an experimental field for new applications within its stores, the retailer benefits from innovative ideas such as the App Clara. This gives the sales staff the opportunity to order the products desired by the customer but not available in the store from the supplier with just a few clicks. In this way, over 1,000 orders had already been placed within five months and customer satisfaction had increased. The cooperation between Ramelow and FASHION CLOUD is therefore a good example of the functioning interfaces between tech start-ups and classic retail.
"The investment is like consulting money. I could have hired a digital guru for a six-figure sum. Then I probably would have gotten hundreds of power point charts. Whether I would have been more successful with it, I question to this day strongly. That's why we're doing it differently. We invest the money in different concepts and learn from these concepts." (Marc Ramelow)
Marc Ramelow, managing director of the fashion house Ramelow, invested in Martin Brücher's startup FASHION CLOUD two years ago.
Since then, the cooperation has paid off for both sides:
- FASHION CLOUD uses Marc Ramelow's industry expertise and network on the one hand and the branches for product validation in new developments on the other.
- Ramelow invests in innovative concepts such as FASHION CLOUD and draws lessons for his own company. In his opinion, this makes more sense than investing in management consultants.
- A concrete example of this cooperation is the new Clara app, which can order goods not available in the store but requested by the customer directly from the supplier.
- FASHION CLOUD was already able to test the app during development in Ramelow stores and optimize it according to experience.
- Ramelow was able to place more than 1,000 orders via the app within five months, increasing customer satisfaction.