ASTF launches fundraising campaign
A Suit That Fits is a British company that was started after a friend of CEO David Hathiramani's returned from Kathmandu with a hand-tailored suit that was good quality and affordable.
Hathiramani came up with the idea of an online tailoring platform, to make it possible to provide "bespoke for all." A Suit That Fits was launched online, but the company soon got feedback from customers saying they'd like to meet someone in person. This led to ASTF opening permanent and pop-up studios in the UK and hiring "Style Advisors."
The company is now looking to raise £500,000 to hire 300 "Fit Experts," creating "a self employed Style Advisors' network to plug into our system and maximise the investment in infrastructure we have made."
The model has already been validated in the US, the company says, where it's used by J Hilburn. "Our Fit Experts are able to earn more through volume: like Uber and their fleet of cab drivers or Airbnb and their hosts. In fact, we are becoming the platform for personal tailoring, in the same way Uber is for Taxi Drivers," Hathiramani says.
ASTF believes it can execute the expansion over 5 years and that this will create the profit to support a valuation of the business of £90m. It needs the investment for recruitment, training and further technology infrastructure.
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