In case you missed it, a Canadian fashion start-up company named Trend Trunk (www.TrendTrunk.com) made its national television debut by battling the Dragons on Dragons’ Den this past week. You can watch the video here: http://www.cbc.ca/dragonsden/pitches/trend-trunk)
And while they made a deal for $200,000 for 50% equity on the show with everyone’s favourite Dragon, Mr. Wonderful, the deal ultimately did not go through (See more here: https://www.trendtrunk.com/Dragons-Den), but they seemed to have caught the attention of women across Canada who all suffer from the same problem – too many clothes & nothing to wear.
Before we get into what Trend Trunk is all about, I want to let you guys know that Trend Trunk has teamed up with Kirei Makeup for a GIVEAWAY! Wanna know more about it? Rules and regulations are at the bottom of the post!
1. What is Trend Trunk?
Trend Trunk is a social marketplace where you can buy, sell, and donate amazing new and pre-loved fashion in a fun and simple way. Our aim is to inspire and collaborate with the fashion-minded and budget-conscious community in a trustworthy environment. We believe that one person’s lonely wardrobe is another’s true love! If you’ve got items you’re not in love with anymore, you can ‘cash in your closet’ and use those funds to shop a users’ closet whose style you love, donate those funds to your favourite charity, or get the funds deposited directly into your bank account.
Trend Trunk aims to help you:
- Make money by cashing in your closet of all those stylish and fashionable items you have tucked away
- Save money by shopping fellow members’ closets full of brand new to pre-loved styles they love
- And look good doing it!
2. How did you guys come up with the idea of Trend Trunk?
Trend Trunk evolved from an existing gift card exchange company. The idea was that our customers could swap a gift card that they weren’t going to use for another type of gift card. We found that our customers were mainly swapping fashion related gift cards because they are very particular. It got us thinking of a new direction that we could take the business. The idea of having a consumer to consumer marketplace exclusively for fashion was born. We built Trend Trunk from the gift card exchange companies platform so it was a smoother transition than if we had to build it from scratch.
3. What is the best way to use Trend Trunk?
Our members come to our marketplace for many different reasons. Some of our members come to Trend Trunk as a way earn money from their guilty habit of buying too many items and never getting around to wearing them. Others come to Trend Trunk to save money on fashionable items that others no longer use (last week we sold a brand new $500 Coach bag for $100 in less than 1 minute after it was posted). While others come to Trend Trunk to get inspired by all the different fashionable closets that our members are creating.
4. How does it feel to be standing in front of the Dragons?
I was very nervous about how the Dragons were going to react after I jumped out of the closet. Luckily they were receptive to it and it caught their attention. My actual business pitch was about 30 minutes however they only showed about 2 minutes of it. I had a great feeling of pride and excitement to have had the opportunity present my business in front of all the Dragons.
5. As we all know, you’ve closed the deal and so how will that change Trend Trunk?
Yes we closed a deal with Kevin O’Leary for 50% of our company in exchange for $200,000 equity in our business. That is what they showed on TV. What really happens is that only 1 of every 10 deals on the show actually gets finalized. You can imagine that making a 6-figure business deal in 20 minutes is not reality. After going through the post show negotiations, the offer ultimately wasn’t a good fit. We decided to put our current and future customers in the Dragons’ chair and have started a crowdfunding campaign in order to raise the necessary funds to take Trend Trunk to the next level. We are asking the public to help fund us while giving them some excellent rewards in the process. You can find out more about it here: https://www.trendtrunk.com/Dragons-Den
Giveaway Rules and Regulations:
1. Follow Kirei Makeup and Trend Trunk on Twitter.
2. Follow this link (or click on image above), enter your email address and receive your free gift card! You might win up to CA$250!!!
3. 1 email address per gift card only.
You have to be in Canada to be eligible to enter this giveaway.