ToVieFor gives the average shopper that isn’t looking to spend $1,000 on a new bag a chance to snag top-of-the-line fashion goods for much less than full price with its own spin on fashion fire sales. The shopping network announced it is launching its site at TechCrunch Disrupt in San Francisco today.
The site is looking to take high-end fashion products from the likes of Louis Vuitton and make them accessible to both savvy customers and those hesitant to shell out a lot of cash for a single product. The site runs sales that require users to pay an entry fee, and as more and more people participate in the sale, the price of the product begins to drop. Users can lock in the price of the sale at any time.
Similar to Amazon.com’s Woot, the sale is over once users claim all the products. ToVieFor shoppers have to buy credits within the site for entry fees and purchases, starting at a dollar per credit, with discounts for bulk purchases.
The site is primarily geared toward women already familiar with all the popular fashion trends, said ToVieFor CEO and cofounder Melanie Moore. Moore believes that focus will help with marketing, since women usually tell their friends about fashion sales already. ToVieFor is offering a finder’s fee for new users to seal the deal, she said. A way to notify friends through Facebook and other social networks while continuing to shop on the site is also in the works, Moore said.
ToVieFor picks up the difference between the wholesale cost of the bag and the final price of the item based on the sale, along with entry fees. On top of that, Moore said she hopes the site encourages users to buy other products from the top-end fashion designers at full price, because ToVieFor receives an affiliate fee from referrals.
The New York City-based company was launched in October last year and has so far raised $75,000.