Over the past couple of years, the e-commerce industry has taken off at warp speed, becoming a multi-billion rand industry. Starting an online retail website has become easier and easier, but successfully creating and running an entire brand, not so much.
I recently attended the launch of the new collection from up-and-coming online fashion retail brand, Erato (www.erato.co.za), where - true to the brand's ethos, "to be desired" - we were treated to the first look at the most desirable heels and handbags. The cleverly chosen, bare essentials venue contrasted perfectly with the choice of accessories exhibited. After a short introduction to Erato and the new collection, attendees were offered a chance to shop with a 30% discount. It's not surprising that Erato was voted one of the top five online fashion sites by True Love magazine, so I decided to have a short interview with the brand's founder, Julie Anderson.
Why the name Erato?Julie Anderson: Erato was one of the muses in Greek mythology and the literal meaning of the name is "to be desired". I have yet to meet a woman who doesn't covet shoes and handbags, so I thought it was a very fitting name for an accessories and fashion brand! I also think that every woman wants to feel beautiful and desirable, and this is the attitude I'd love to evoke when wearing Erato items.
During your introduction, you mentioned that you were previously in the financial industry. What gave you the final push to pursue fashion?Anderson: I have a B.Com (Hon) degree in Economics from UCT and worked in the private banking space at Investec for a number of years. I'd been in my role for a while and I really felt that I needed a new challenge. I've always loved fashion and after completing a personal styling course a couple of years ago, I really wanted to become involved in the industry. Given that I was looking to make a career change, the timing was right for me to head in a direction that I felt more passionate about.
Is there anything from your time in the financial industry, any lessons learned, that helped you when you started Erato?Anderson: Absolutely, a financial background is always going to be helpful when starting a business, as you need to understand the numbers involved. But in particular, Investec has a very dynamic and entrepreneurial culture - it was very much about creating your own opportunities and resolving your own problems. So that experience provided a very valuable foundation for me, because as a business owner, you're completely responsible for making things happen for yourself.
What was the most difficult part of starting Erato? The biggest obstacle?Anderson: Starting any business from scratch is difficult - there's always a risk involved and it's an incredible amount of hard work. For me, the biggest challenge has been that I started a business in an industry in which I didn't really have any previous formal experience, so in addition, I've had to educate myself about all aspects of retail, e-commerce, logistics, online marketing, brand management, etc. as I go. So it's been a steep learning curve, but also a very exciting journey so far.
Why did you choose to start an online retail fashion brand as opposed to opening a store? What are the biggest benefits of being online?Anderson: The major considerations were accessibility and convenience. With a physical store, not only do you have very high overheads, but your customer base is limited by your location. Anyone with internet access or a smartphone can purchase from an online shop, and given that we deliver for free anywhere in South Africa, I've been able to reach and build an engaged and wide-ranging audience.
The online retail space is growing very rapidly in South Africa, and especially given today's busy lifestyle, an online platform provides a quick and convenient shopping experience.
What advice can you give to other people who also want to make a move into another industry?Anderson: I would recommend that they talk to as many people within that industry as they can before starting out. Try to learn from their experiences so you can avoid some of the common pitfalls and mistakes and also ask for referrals for strategic partners.
Why just accessories, why not clothes as well?Anderson: I'd been struggling to find accessories that were stylish and good quality, but not exorbitantly priced in South Africa, so this presented a gap in the market. Whilst accessories are the starting point - I've already had numerous requests from fans for a clothing line, and my ultimate aim is to provide a comprehensive, curated shopping experience for our clients.
There are quite a few online retailers like Spree, LushBerry and Zando. What sets you apart from other online retailers?Anderson: When sourcing items, I am particularly looking for pieces that I haven't seen anywhere else in the market, so Erato offers an exclusive collection. I also think the Erato style aesthetic is bit more niche and high-fashion, with a focus on quality over quantity. My objective is to create an engaging destination site for users, so we also provide trend reports, how-to's and styling tips. In fact, after only operating for six months, True Love magazine voted Erato as one of the top fashion sites in the country, so I took that to be a positive endorsement that I'm on the right track!
You mentioned that you intend to expand your range? How much of an expansion are we talking about?Anderson: The first point of expansion will be to include other accessories, jewellery and flat shoes to the Erato offering. Because I am very selective about both the style and quality of items available on the site, this is likely to be an organic process. So the product range will grow as I source new items or collaborate with designers that have beautiful collections that are in keeping with the style of the brand.
How local are your products? Do you have your own designers and do you use materials that are locally produced?Anderson: Currently, all the items are imported. I did initially investigate the feasibility of producing the merchandise locally, but I struggled to find a manufacturer that could produce the types of styles that I was looking for, and to source all the necessary component materials, especially for the high heels. However, I am very eager to support the industry in South Africa, so as part of the expansion process, I'm looking to collaborate with local designers and create bespoke collections for the site. Watch this space!
What do you want to inspire in Erato shoppers? What do you want them to feel when they are wearing something from your collection?Anderson: I do believe in the saying that "when you look good, you feel good". So for me, it isn't just about supplying beautiful products, but inspiring our clients with a sense of confidence, energy and style when wearing Erato items.
For more, go to www.erato.co.za, Twitter: @Erato_Footwear, Facebook: EratoFootwearAndAccessories or Instagram @Eratoaccessories
