Erik Zetterberg & Daniel Herrmann (Singular Society) on reinventing the retail business model

Erik Zetterberg and Daniel Herrmann are the founders of Singular Society, a new Stockholm-based fashion and lifestyle startup that seeks to reinvent the traditional retail model. Instead of making money by the traditional markup, they are selling their products for the cost of production, and instead charge a monthly subscription fee from its consumers. Yes, you could call it the Netflix of Fashion, although Erik and Daniel have a more detailed definition. In this conversation, we talk about:— Being a subscription-based brand that offers high-quality products at the price of their cost to make.— The need for change in traditional fashion wholesale.— A customer has to pay for all the unsold items and all the other costs of a brand in the old model.— Can subscription services be applied to all industries?— Why is quality so expensive— How more membership subscriptions will make the prices cheaper and the service better.— How the subscribers choose the selection.— Selling both high frequent products and extreme value products.— How storytelling is the biggest challenge for Singular Society.— Does luxury brands really need a stand-out logo?— What it’s like being owned by H&M and the need for patience to grow.The Scandinavian Mind podcast a bi-weekly show, about the intersection of lifestyle and technology.  Every Wednesday, we publish an in-depth interview with an innovator from the worlds of design, fashion, beauty, mobility or tech. And every Friday, we publish a panel talk or other behind the scenes content from the world of Scandinavian MIND.  Don’t forget to sign up to our newsletter, to stay updated on the latest news and learn about upcoming talks and Clubhouse sessions.  Visit ScandinavianMIND.com/Newsletter Hosted on Acast. See acast.com/privacy for more information.