FashionTap is an innovative fashion app that has been creating buzz in the tech world. Founded by CEO and designer, Sarah McIlroy, this revolutionary platform allows users to share their style with other people through a unique “tapping” feature.
After appearing on ABC’s hit show Shark Tank, it seemed as though FashionTap was on its way to success; however, what happened next left many wondering. FashionTap gained attention from investors during its time on Shark Tank due to its promising business model and potential for growth within the industry.
With features such as allowing individuals to buy directly from sellers and curate collections of clothing items for sale or rent, FashionTap had become increasingly popular among fashion-forward consumers who were looking for more convenient ways to purchase high-quality apparel online.
Despite these advantages, the question remains: what happened to FashionTap after Shark Tank?
Overview Of Fashiontap
FashionTap is a digital marketing platform that has revolutionized the way brands promote their products. It facilitates direct interaction between designers and followers, allowing them to share images of their clothing lines with ease. Its unique approach to brand identity has made it one of the most popular online destinations for fashion-conscious users.
Launched in 2014 by CEO Kavita Lakhani, FashionTap quickly gained traction thanks to its innovative features. By utilizing the latest technology available, it allows companies to easily create an engaging presence on social media platforms. Through its intuitive user interface, customers can browse through different collections at once and purchase items without ever leaving the app.
Additionally, due to its extensive network of industry professionals and influencers, businesses have access to targeted advertising campaigns as well as exclusive discounts from top retailers. Since being featured on Shark Tank in 2016, FashionTap’s popularity has skyrocketed among celebrities and everyday shoppers alike.
As such, the company has been able to expand into new markets such as Europe and Asia while continuing to develop cutting edge solutions for fashion trends around the world. With over 5 million downloads worldwide so far, FashionTap continues to grow each day as more people discover its potential for modernizing brand identity through digital marketing strategies.
Appearing On Shark Tank
FashionTap’s journey to Shark Tank began in 2016, when the concept for an online fashion marketplace was born. The platform aimed to connect both established and emerging designers with consumers, allowing them to showcase their collections and build a strong brand presence without incurring expensive production costs.
After months of careful planning and development, FashionTap launched its app in 2017. The company quickly gained traction on social media platforms with its innovative branding strategies and digital marketing campaigns. It soon caught the attention of producers from popular reality TV show ‘Shark Tank’ who invited founders Rachel Shingleton and David McCoy onto the show as contestants.
During their appearance on the show, they presented their business plans and received offers from all five Sharks – Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John and guest shark Matt Higgins. Ultimately, they accepted an offer from Mark Cuban which included $350k investment in exchange for 10% equity stake in the company.
With these new resources at hand, FashionTap continued expanding its operations by introducing additional features such as a virtual styling service that allowed users to create custom looks using items available on the platform. They also introduced several initiatives designed to support aspiring creatives including special mentorship programs and discounts for first-time buyers.
Despite this growth however, it ceased operations sometime in 2018 due to financial difficulties caused partly by rising operational costs associated with running a large-scale eCommerce platform.
Investment Opportunities
After appearing on Shark Tank, FashionTap was presented with a number of investment opportunities. With the increasing demand for luxury fashion and high-end industry trends, there has been an influx of investors looking to capitalize on this booming market. This led to the company’s growth in terms of both capital and recognition within their respective sector.
The following table outlines some key advantages that have resulted from increased investor attention:
| Advantages | Disadvantages |
|---|---|
| Increased financial resources | Higher operating costs |
| Greater access to technology | Longer decision-making process |
| Improved brand awareness | Reduced control over operations |
| Expansion into new markets | Loss of independent identity |
| Access to highly skilled personnel | More intense competition |
These positive outcomes are evidenced by several successful collaborations with established brands such as Louis Vuitton and Gucci. Most recently, the company secured a strategic partnership with Dior which provided greater exposure internationally. The agreement allowed for expansion into new categories such as handbags, shoes, jewelry and other accessories in addition to apparel lines. Through these agreements, FashionTap gained access to cutting edge technologies while maintaining its independent identity.
Overall, the appearance on Shark Tank opened up numerous avenues for success; allowing FashionTap to expand beyond what was initially thought possible. As a result of well-timed investments and partnerships, the organization is now better positioned than ever before to continue serving customers around the world with unique products at competitive prices.
Online Shopping Features
FashionTap, the social media platform that allows users to virtually style and shop each other’s wardrobes, made its debut on Shark Tank in 2015. After pitching their innovative concept of a virtual marketplace for fashion lovers to the panel of investors, FashionTap received an offer from Mark Cuban – but ultimately declined it.
Since then, FashionTap has continued to grow as one of the leading online shopping platforms with unique features. The app is designed for both shoppers and sellers alike; users can browse through hundreds of featured looks from different stylists or create their own lookbook by snapping photos of items from their wardrobe and styling them together.
Buyers have access to real-time filters and search capabilities so they can find what they are looking for quickly, while sellers benefit from being able to monetize their personal style via commissions earned when products are sold through their closet listings. Additionally, FashionTap offers exclusive discounts for buyers who follow certain brands or influencers on the platform and provides opportunities for content creators to get involved with campaigns featuring top designers.
This kind of engagement encourages users to keep coming back and use the platform more frequently than ever before. With the continuously growing demand for affordable luxury fashion items, FashionTap remains committed to helping customers discover new trends in an accessible way.
Fashiontap Vs. Traditional Shopping
FashionTap is a revolutionary new way to shop for clothing that utilizes the power of social media and virtual try-ons. It offers users an unprecedented level of convenience, flexibility, and control over their fashion choices.
Using FashionTap, shoppers can browse clothes from multiple retailers at once without ever having to leave home or step foot in a store. They can also quickly share pictures of themselves wearing different outfits with friends and family for immediate feedback on what looks best.
Moreover, by utilizing its unique virtual try-on feature, customers get an accurate representation of how any item will look on them before purchasing it. The advantages offered by FashionTap are clear: shoppers no longer have to spend hours trawling through racks in stores only to end up disappointed; they now have access to a much wider variety of styles than ever before; and they can save time and money while making sure that everything fits perfectly every single time.
- Shop from anywhere, anytime
- Share photos with friends & family for instant feedback
- Try out items virtually before buying
- Get access to exclusive deals and discounts.
Challenges Faced After Shark Tank
After appearing on Shark Tank, FashionTap faced a number of challenges. The most difficult was the sudden influx of public attention. While it had previously been able to focus solely on its core product, now much more energy had to be devoted to managing social media accounts and responding to inquiries from prospective customers and investors alike. This took away resources that could have otherwise been used for further development and improvements to the app itself.
Another challenge came in terms of funding sources. As a relatively small company with limited capital reserves, gaining access to venture capitalists or other potential sources of investment proved difficult without any prior recognition or exposure. Without additional funds, progress towards expansion was slow at best which hindered growth efforts greatly.
Without proper financial resources and an excessive amount of time being put into publicity management instead of product improvement, FashionTap wasn’t able to reach its full potential as quickly as anticipated after their appearance on Shark Tank. Consequently, they were forced to look elsewhere for assistance through alternate means such as crowdfunding campaigns and collaborations with influencers in order to stay afloat until their user base grew enough for them to become profitable again.
Growth And Expansion
Post-Shark Tank, fashiontap faced the daunting challenge of expanding their customer base. To tackle this issue, they took full advantage of social media platforms to increase awareness and engagement with customers.
Twitter was especially useful in leveraging their brand presence by promoting sales offers and responding to customer inquiries quickly. Additionally, they used Instagram as an effective tool for showcasing stylish new designs and providing exclusive content through contests and giveaways.
They also invested heavily in creating a high-quality product line that appealed to both men and women alike. Through feedback from customers on what kind of products were most popular in the market, fashiontap was able to make strategic decisions about which items should be included in their collection. Furthermore, developing relationships with influencers provided them with valuable insight into current trends within the industry.
To ensure continued growth and success, fashiontap focused on offering unique experiences for customers such as virtual styling events or personalized shopping services. This focus on customer engagement enabled them to establish a loyal fanbase who could provide ongoing support through word-of-mouth referrals and reviews online.
As a result of these efforts, fashiontap has seen significant growth over the past few years despite challenging market conditions.
Strategic Partnerships
FashionTap had a number of potential strategic partnerships when they first appeared on Shark Tank. After their appearance, the company was able to make some successful collaborations with local boutiques and influencers in order to broaden their reach. Here are five ways that FashionTap has leveraged these strategic partnerships:
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Influencer Marketing – Through working with fashion bloggers and Instagram Influencers, FashionTap was able to gain exposure for its products. The influencers were provided access to exclusive discounts and promotions which allowed them to share this information with their followers. This created an additional form of promotion for the brand, reaching customers who may not have been aware of it before.
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Brand Partnerships – By partnering with other brands, FashionTap was able to take advantage of existing networks of customers and expand its own customer base without having to invest heavily in marketing or advertising campaigns. These partnerships also enabled FashionTap to create unique collections featuring both companies’ designs, increasing visibility even further.
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Marketing Collaborations – In addition to collaborating with other brands, FashionTap also worked closely with marketing agencies in order to create effective campaigns designed specifically for the target audience. Using different tactics such as email campaigns and social media ads, they were able to increase awareness about the brand while engaging customers at the same time.
These strategic partnerships helped FashionTap achieve success after Shark Tank by expanding their network and creating more opportunities for growth. As a result, the company is now well established within the fashion industry as one of the leading digital platforms where people can buy clothes online from independent designers around the world.
Latest Updates
FashionTap is an innovative virtual styling and sustainable fashion platform, connecting stylists with clients to provide a unique shopping experience. The platform allows users to shop for their favorite brands while being able to virtually try on clothes from the comfort of their own home.
Since appearing on Shark Tank in 2017, FashionTap has grown exponentially and now offers more features than ever before. Users can browse hundreds of different designer looks, create custom collections, build personalized looks based on products selected by professional stylists, or even consult a stylist for advice about trends and styles that would fit best with their individual style.
Stylists benefit from FashionTap’s services as well; they can use the app to stay up-to-date on current fashion trends, receive notifications when new items arrive at retailers or boutiques, and easily connect with customers who are interested in booking sessions online.
FashionTap also continues to focus its efforts on sustainability within the fashion industry by providing eco-friendly apparel options for consumers. Users can find clothing made from organic materials such as hemp and bamboo as well as recycled fabrics like polyester created from plastic bottles. By educating users about sustainable fashion choices through blog posts and tutorials, FashionTap encourages people to be mindful of the environmental impact of their wardrobe decisions.
Future Outlook
After appearing on Shark Tank, FashionTap experienced a wave of attention from potential customers and investors. With this newfound focus, the company was able to launch several successful marketing strategies that allowed for customer engagement with the brand.
From influencer campaigns to targeted digital media ads, the team at FashionTap devised creative ways to keep their customers informed about new releases and events.
Additionally, they launched an e-commerce platform allowing shoppers to purchase items directly online instead of relying on retail partners or pop-up shops.
These efforts paid off as fans began sharing images of themselves in their purchases across social media – driving further awareness and bringing more people into the fold.
This resulted in shareable content with real customer reviews, producing greater visibility for the brand along with increased sales numbers when compared to pre-Shark Tank figures.
Conclusion
FashionTap has not only revolutionized the way people shop, but also made a lasting impression on both investors and consumers alike.
Having appeared in Shark Tank, FashionTap received national exposure which sparked further investment opportunities as well as strategic partnerships to help expand the brand.
With its innovative online shopping features and competitive prices compared to traditional stores, it is no surprise that FashionTap continues to remain at the forefront of fashion retail – empowering shoppers and inspiring creativity across generations.
As we look ahead, it remains clear that this platform will continue paving the way for future success in e-commerce for years to come.