Podcast Summary
Embracing diversity through inclusive fashion: Universal Standard aims to provide fashionable clothing for individuals of all shapes and sizes, emphasizing the significance of inclusivity and representation in the fashion industry.
Universal Standard, founded by Polina Veksler and Alex Walman, identified a market opportunity by realizing that most fashion brands were neglecting the majority of consumers who fit into double-digit sizes. Recognizing the exclusion and segregation within the industry, they set out to create a brand for every shape and size, with a high design sensibility. This powerful mission stems from Polina's own experience as an immigrant from Russia, where she faced discrimination and had to adapt to a new country and culture. The brand's commitment to inclusivity and serving an underserved consumer base highlights the importance of embracing diversity and creating a space where everyone feels represented and valued.
Navigating unexpected career turns and finding fulfillment through new opportunities and connections.: Embracing change and building meaningful relationships can lead to unexpected and fulfilling career paths.
Sometimes a detour from your initial career path can lead you to unexpected opportunities and personal growth. Polina Veksler started her career in investment banking but soon realized it wasn't her passion. However, she didn't let this setback deter her. She took a chance and moved to Seattle to work in strategy at Microsoft, which she thoroughly enjoyed. Later, she explored opportunities in Russia and Africa, gaining valuable experience and expanding her skill set. Eventually, she found herself back in New York, jobless but determined. It was during this time that she met a friend, Alex Walman, who eventually became her business partner. Their friendship and shared experiences led to the creation of their own venture. This journey highlights the importance of staying open to new possibilities and connecting with like-minded individuals, as they can lead to unexpected and fulfilling paths.
Inclusive Fashion: Breaking Barriers and Expanding Sizes: The fashion industry must address the lack of size inclusivity, as the majority of women wear double-digit sizes, yet have limited access to well-fitting and stylish clothing options.
The fashion industry has long been exclusive and limited in its size options, with the majority of brands primarily catering to smaller sizes. This leaves a significant portion of women, like Alex, who wear double-digit sizes, with a limited selection of ill-fitting and subpar clothing options. Research shows that about 70% of American women are size 14 and above, with the average woman being a size 18. However, most brands do not offer sizes above a 14, and even high fashion brands cater to an even smaller segment of women. This binary approach creates a divide between those who have access to stylish and well-fitting clothing and those who do not, highlighting the need for more inclusive and diverse fashion options.
Revolutionizing the Fashion Industry for All Sizes: Universal Standard was created to provide an inclusive shopping experience for all women, regardless of their size, by challenging the limited selection of sizes in the fashion industry.
Universal standard was born out of a recognition of the painfully difficult experience many people face when shopping for clothes. Polina Veksler and Alex, the co-founders, realized the gap in the market and the underserved consumer base that existed. The fashion industry's limited selection of sizes and narrow definition of beauty contributed to this issue. However, the opportunity to cater to all sizes presented a massive market worth around a hundred billion dollars in the US alone. The vision of universal standard was to create a brand where size was completely irrelevant, allowing all women, regardless of their size, to shop in the same way. This inclusive approach was a driving force behind convincing Alex to quit her job and become the original designer for the company. The journey began with researching luxury designers and identifying fabrics and designs they liked at Bloomingdale's.
From sourcing to manufacturing: The journey of creating a well-designed clothing line in Peru.: Polina Veksler and her partner overcame obstacles and found success in creating affordable, high-fashion clothing in Peru by prioritizing quality and accessibility.
Polina Veksler and her partner identified Peru as the source of the best cotton and decided to manufacture their clothing there. They started by designing a capsule wardrobe of eight pieces that could be mixed and matched to create outfits. However, finding a willing manufacturer was a challenge, as they had no industry experience and faced difficulties in terms of factory infrastructure, sizing constraints, and lack of expertise in pattern making. Eventually, they managed to secure a manufacturer in Peru, and their initial collection consisted of 3000 pieces. Their goal was to create well-designed, high-fashion clothing that was accessible to everyone, striking a balance between affordability and exclusivity.
Creating Affordable and Inclusive Clothing: By resetting the size curve and adopting a direct-to-consumer model, the team was able to offer affordable clothing that made people feel good, leading to high adoption rates.
Polina Veksler and her team wanted to create elevated essentials - clothing that was comfortable, affordable, and made people feel good about what they were wearing. They faced the challenge of pricing their garments, especially when different sizes required different amounts of materials. However, they decided to charge the same price for all sizes by resetting the size curve and making the average woman's size 18 their medium. This approach allowed them to blend their costs and offer a democratic, competitive price point to consumers. They also adopted a direct-to-consumer model by building their own website and focusing on generating traffic through press coverage and online articles. This strategy, combined with the lack of availability in the market, quickly led to a high adoption rate of their clothing line.
Overcoming financial challenges and skepticism, Universal Standard builds a size-inclusive clothing brand through perseverance and innovative marketing.: Despite financial challenges and skepticism, Universal Standard's success in the fashion industry highlights the importance of perseverance, innovative marketing, and raising funds from various sources to achieve business goals.
When building a business, it is important to be prepared for the financial challenges that come with it. Universal Standard, a size-inclusive clothing brand, faced obstacles in terms of funding their second collection after selling out their initial line. Despite not making any profit from the first collection, they had to invest in production costs, PR, social media, and website development. This highlights the capital-intensive nature of the fashion industry. In addition, they encountered skepticism from investors who believed that inclusive fashion was difficult and costly. However, the founders persevered and raised funds from friends, family, and angels to continue their mission. They also focused on perfecting their fit and patterns, and used innovative marketing strategies such as pop-up shops to gain exposure and grow their brand.
Building Loyalty for Profitability in Fashion: Universal Standard's focus on repeat customers and creative strategies, such as partnerships and free merchandise, helped them differentiate in the market and achieve profitability.
Universal Standard, a small but growing fashion brand, achieved profitability by focusing on building loyalty with their customer base. Rather than purely focusing on customer acquisition, they prioritized repeat customers and building a strong belief in their product. They used various strategies to gain new customers, including partnering with local universities and influencers, as well as giving out free t-shirts to let customers experience their focus on fabric, quality, and fit. This approach allowed Universal Standard to differentiate themselves in a crowded market and leverage customer recommendations as a valuable marketing tool. By staying humble, thinking creatively, and prioritizing profitability, Universal Standard has achieved success in the fashion industry.
The future of fashion: Inclusivity and sustainability: Prioritizing inclusivity and sustainability in the fashion industry not only aligns with consumer values but also drives long-term success and loyalty.
Inclusivity and sustainability are important factors in the future of fashion. While there has been an increase in companies offering inclusive sizing, there is still a long way to go. Brands that venture into inclusivity early and continue to improve will be positioned to succeed in the long term. COVID-19 posed challenges for the fashion industry, but direct-to-consumer brands with a strong e-commerce presence were able to pivot and adapt. Additionally, addressing environmental concerns is crucial. By creating quality garments that last, offering size exchanges, and participating in circular economy initiatives, brands can reduce waste and carbon emissions. Prioritizing inclusivity and sustainability not only aligns with the values of consumers but also fosters loyalty.
Redefining Beauty: Universal Standard's Mission for Inclusivity in Fashion: Universal Standard aims to change the traditional idea of beauty by providing equal access and an inclusive shopping experience for all customers, challenging norms, and driving the conversation of inclusivity in fashion.
Universal Standard is on a mission to change the traditional definition of beauty in the fashion industry. They believe that representation is crucial and aim to provide equal access and an inclusive shopping experience for all customers. By featuring models of different sizes and diverse appearances on their website, they challenge the norm of using impossibly slim models. Additionally, Universal Standard consciously decided not to use the term "plus size" in order to avoid segregating women into separate groups. Looking ahead, their strategy involves partnering with other brands to continue driving the conversation of inclusivity and profitability in fashion.
