Strategy

29 March, 2022

Interview with Leopold von Frenckell founder of Style Yield

This month we interviewed our friend and client Leopold von Frenckell, founder of Style Yield. An online platform reimagining the way consumers shop online for luxury fashion.

Coletiv Team

Interview with Leopold von Frenckell founder of Style Yield -  Coletiv Blog

Today we have a special guest here in our blog.

This month we invited our friend and client Leopold von Frenckell, founder of Style Yield, to share a bit about the idea and process behind this product. This is essentially the start of an interview series to show you a little glimpse of our projects at Coletiv. We hope you enjoy it! 🙌

Leopold von Frenckell founder of Style Yield

To give you more context, Style Yield is an online platform using machine learning to create the most seamless and hyper-personalized shopping experience in luxury fashion.

To unlock the power of Style Yield, feel free to follow their LinkedIn page or join their waitlist to be notified.

Preview of Style Yield website

If you are curious about this project or have an interest in luxury fashion, read the interview below. 👇

CO: Why and when did you decide to create Style Yield?

LEO: The initial idea started in late 2020. Back then, I started to explore my passion for luxury fashion and being part of Generation Z, I naturally shopped online for it. Shopping online at different brands, marketplaces and multi-brand e-retailers quickly left me frustrated due to the lacking digital shopping experience. I talked with my friends about it and everyone struggled with the same issues:

  1. The highly fragmented availability of products leads to an increased time spent on searching for your item, your size, or that specific color you want which is a pain. This is anything else than seamless. Imagine you would go to a boutique to spend 800 Euros on shoes and then you would have to check yourself in the stockroom if your item is available in your size and color.
  2. Because every retailer has its price strategy for full-price and off-price it's unavoidable to chronically overpay. During database development, we looked at so many drastic full-price differences of around 30 % often surpassing a 300 Euro price difference which is crazy.
  3. The last pain point is that the overall experience is just overwhelmingly un-personalized. Either way, you have a limited choice because multi-brand retailers strongly pre-select in the buying process, or if you shop with a platform like Farfetch for instance you have to look through tons of crap to find pieces that fit your personal style - even if you're a loyal customer. So you end up with never-ending scrolling and infinite Google searches, which is a pain.

CO: Who exactly is the ideal client of Style Yield? Who is it built for?

LEO: At Style Yield we target Millennials and Gen-Z who have a passion for luxury fashion and are tired of chronically overpaying, spending hours trying to find an item, and seeking a hyper-personalized shopping experience, not just a simple service.

We have a customer-centric approach to everything. We are deeply passionate about creating an experience so it's exciting to shop online.

CO: At the start of the project, which aspects of Style Yield did you find more challenging to define?

LEO: Initially, we had a different brand name and brand strategy mapped out. We couldn't acquire the domain, so we had to work on a new branding during the onboarding process of our brand partners, which was quite challenging.

Looking back, this was the best thing that could have happened to us. Everything else was quite clear and went smoothly.

CO: Can you share any tips for anyone in the ideation phase? Did you find the discovery workshop with our team useful?

LEO: When I reached out to Coletiv about this project I had this big vision for Style Yield in mind. The discovery workshop helped break this big vision down into smaller pieces to see what's necessary for the MVP.

It's vital to cut the features and processes of the MVP down to reduce development costs and test if there is a product-market fit, before burning more cash than necessary.

CO: Would you say it was complex to decide on the look & feel of Style Yield?

LEO: I have a strong passion for branding and design so I already had a feeling of what I wanted the branding to look like.

Coletiv did a great job bringing my vision alive, so it was quite exciting when I saw the look & feel for the first time.

CO: Would you like to share some achievements of Style Yield that you're proud of?

LEO: I think the product we build in such a short amount of time with a limited budget and hitting our internally set milestones is quite impressive.

CO: If you had to choose just one, which feature of Style Yield do you think is the most unique?

LEO: Our incredibly well-working core feature the smart database, powered by machine learning, is the most unique.

We are solving the overpaying and availability pain point for our customers with it.

CO: What can we expect to see from Style Yield in the years to come?

LEO: Our mission is to develop the most seamless and hyper-personalized shopping experience in luxury fashion, so we are just getting started.

We have some exciting new features lined up we know our customers will love.

Interview

Fashion

Digital Studio

Strategy

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