The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
The China-based e-retailer sells $1 million worth of custom dress shirts.
In little more than three years of operation, ShirtsMyWay.com, a China-based e-retailer of custom men’s dress shirts, has achieved $1 million in web sales, with more than 85% of those sales being made to consumers in the United States. ShirtsMyWay.com lets consumers select the details of a dress shirt, from the fabric weight down to the color of thread used on the self-selected buttons, and consumers provide their body or shirt measurements to the e-retailer. Orders ship free and most arrive within nine to 15 business days.
The shirts are manufactured in Shanghai, says ShirtsMyWay.com co-founder Peter Crawfurd, who along Michael Yang launched the business in February 2009. The site, which is available only in English, has received attention from such major media outlets as the Wall Street Journal, CNN and the New York Times, and Crawfurd says this attention helped the e-commerce site quickly gain traction in the United States. The site this spring also added a one-minute YouTube video that describes the service and how it works, and Crawfurd says the video has been embedded in a number of web sites. The video views garnered from those sites have helped generate traffic and sales, he says.
Following the United States, ShirtsMyWay.com’s next largest markets are Canada and Australia, and the e-commerce site ships to consumers in more than 30 countries. ShirtsMyWay.com is No. 811 in Internet Retailer's new Second 500 Guide.
Crawfurd says ShirtsMyWay.com built the web site and all its customization tools in-house. Consumers select from among 86 fabric types and colors, seven collar styles and eight button colors. They can also add modify cuff styles and add monograms if they choose. ShirtsMyWay.com says that with all the choices, more than 7 million shirt variations are possible. Shirt pricing starts at $75 and reaches about $175 based on the fabric selected. Those prices are lower, Yang says, than what consumers may find offline. “We knew that custom dress shirts were a popular luxury choice offline, but prices were often over $250 for one dress shirt,” Yang says. “By bringing this online at the same quality level yet at a more affordable price point we met a large underserved demand.”
Blank Label, another retailer of customized men’s dress shirts, is the 5th fastest-growing e-retail site in Internet Retailer’s Second 500 Guide. Also established in 2009, it generated $1.15 million in sales last year, up 255% from $325,000 in 2010.