Abigail sends word on a company called Fit Logic from a woman named Cricket Lee. After reviewing the site and the press material, I don’t know what to think. All I can see that she’s done is develop styles to fit three different kinds of bottoms. That’s hardly earth shattering. Between the press and the site, I can’t tell what she’s really selling; is it licensees for this handy dandy new fit formula she’s discovered –and patented– or is it actual product presumably designed to body shape and size? What you won’t find on the site are actual photos of products. The thing I find absolutely amazing are the time and costs of the development of her “system” to the tune of 2.5 million dollars spent over 4 years. Boy, I wish I could get a gig like that. I can’t imagine what could have cost so much or why it would have taken so long to do it. For expedited information on sizing, she could have forked over the $20,000 it costs for the Size USA study. I realize she’d need 3 sets of patterns for different anthropometric profiles but $2.5 million in 4 years? I just can’t imagine how she could have spent that kind of money.
On a related note, I’ve noticed that a lot of entrepreneurs like to brag about how much they spent developing their product, as though the amount of money was positively correlated to the ultimate value of the finished product. In the case of start ups, much of this money can be wasted due to inexperience so bragging about what you’ve spent might impress some people into thinking your product is grade A stuff but other people -in a position to know more about the costs of product development in your industry- will question your ability to succeed. I mean, if you’re blowing that kind of money at the outset, how will investors know you constitute a value? I’d think it’d only work if they did not know that the costs of product development in apparel are the least costly as compared to product development in any other kind of manufacturing.