Mr Style: Jordan Konopate
The e-commerce site's founder talks multiple revenue streams, securing brand partnerships and why you shouldn't overthink launching a business
Name: Jordan Konopate
Company name: Mr Style
Location: Greater London
Date launched: 28/12/14
Tell us what your business does:
Mr Style is a premium fashion shop that gives men the opportunity to discover a curated selection of the finest menswear from around the world on one easy to use site. We launched to help men decide what to wear and offer style advice, whilst allowing them to shop from top brands and retailers – currently we have over 300 brands featured on the site.
Where did the idea for your business come from?
I have worked in fashion for several years and my research revealed that men aren’t interested in shopping on sites that mainly display women’s clothing and content, so we decided to build a site to cater for men’s fashion interests and needs.
How did you know there was a market for it?
Extensive market research combined with my own experience in the industry; we also reached out to industry experts and found that lots of bloggers, brands and retailers also felt that there was a need for our site.
What were you doing before starting up?
I have been working as a fashion photographer and e-commerce consultant for the past nine years.
Have you always wanted to run your own business?
Yes I have always envisaged owning my own successful fashion start-up, so hopefully I am now on the right track.
How did you raise the money?
At the moment I am personally funding the company. I will be looking for investment within the next six months to help the business to scale.
Describe your business model and how you make money:
Currently there are several ways the site makes money. Brands work with us on a CPA model, where by we earn a percentage of anything we sell, and other brands and retailers pay for premium placement on the site. We also run some display advertising.
What challenges have you faced and how have you overcome them?
We had some technology issues early on, we managed to solve these very quickly with talented programmers.
What was your first big breakthrough?
After we signed up over a hundred brands to the site. This happened at a very early stage and we quickly realised we were onto something big.
What advice would you give to budding entrepreneurs?
If you have a business idea then go for it and don’t over think it. It’s best to just start as quickly as possible and work things out along the journey. I think a lot budding entrepreneurs are put off starting a business because they think about how it can fail from early on. There’s never been a better time to start a business.
Where do you want to be in five years’ time?
I would like Mr Style to be one of the top online men’s fashion destinations and I feel that within five years this will be achieved.