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- Adopting Designers
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- Getting Adopted
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Catwalk Genius - FAQs - Buying
How does the adoption scheme work?
Getting adopted means that you get 70,000 Euros in funding to cover the costs of producing your next collection.
Supporters of your work can buy 'elements' of your adoption for 14 Euros each. When 5,000 elements have been sold, you have 6 months to produce a new collection using the funding that your supporters have contributed.
The profits from this new collection are then shared.
What's in it for supporters?
The profits from sales of the new collection are shared between you, your supporters, and us - so if all goes well they should get their money back.
You'll be asked to create a limited edition design exclusively for the supporters as a thank you for helping you to achieve the adoption target.
How much could be raised for my new collection?
5,000 elements X 14 Euros = 70,000 Euros.
What can I do to help reach my adoption fund target?
Keep selling gorgeous creations; treat your supporters nicely and spread the word about your adoption through your personal web pages or social networking spaces.
Can I buy elements in my own adoption?
Yes, you'll be treated in the same way as all your other supporters.
That means that if you reach the adoption target and create a new collection, as well as getting the designer's share of profits, you'll receive a supporter's share in proportion with the number of elements you purchased.
What will the adoption fund buy me?
The fund's intention is to cover all of the costs of getting 4 - 7 designs from conception to sale.
At the point when you reach your adoption target, we will discuss and agree exactly how the collection will be produced and how the funding will be spent, but broadly speaking the fund should pay for:
- All materials and trimmings;
- All production costs from sample-making through to final manufacture;
- Transport of materials and finished goods;
- A professional photo-shoot;
- Packaging;
- A small supplement for the designer's living expenses.
What assistance do I get when I reach my adoption target?
We want to make sure that the production process goes as smoothly as possible. So when you reach the adoption target, we'll talk about what work will need to be done in order to produce the collection and based on that, agree the areas in which you need some support.
We may end up providing help with anything from project management to identifying sources of materials or manufacturers, depending on what's appropriate for you.
What control will I have over the adoption collection's creation?
The creative vision will be entirely yours. Your only constraints will be that you'll need to work within the budget of 70,000 Euro and create goods worth a target retail value that will pay back your supporters.
What do I need to produce with my adoption target?
A collection of 4 to 7 items that can attract sufficient sales to pay back your supporters, if not make them some profit.
Also, we'll ask you to design an exclusive, limited edition piece for each of your supporters.
How much will I earn from sales of my new collection?
All profits from your new collection will be split equally between you, your supporters and us.
There'll also be an affiliate scheme, where people who advertise the collection's goods on their personal web spaces may earn 10% commission on the profits.
As such, the profit split will take the form of one of the two models below, depending on how the goods are sold:
Won't profit-sharing mean I lose out?
Let's compare the finances of the adoption collection with a collection sold wholesale, using some entirely made-up numbers. If you think they're wrong, at least then you can use your own figures to work out the comparison for yourself.
Let's say that in both scenarios, the collection generates retail sales revenues of 280,000 and the production costs come to 70,000.
Traditional collection sold wholesale:
| Retail income | Reductions to income |
| 280,000 |
|
| Designer's profit: 280,000 - (168,000+70,000) = 42,000 | |
Catwalkgenius.com's adoption collection:
| Retail income | Reductions to income |
| 280,000 |
|
| Designer's profit: 280,000 - (112,000+84,000) = 84,000 | |
In this scenario, the 70,000 cost of materials and production are covered in advance by supporters. The marketing costs are paid for by catwalkgenius.com.
Can I earn the extra 10% available to affiliates?
Yes. Sign up to the affiliate scheme and advertise the collection on your personal web pages. We'll track any sales that are generated as a result of a click through your adverts and credit you with 10% of the profit for each one.
What happens if I don't reach the target? Is there a deadline?
There's no deadline for reaching the adoption target. If you don't get there, nothing happens for as long as you remain in the programme and an active user of the site.
If you choose to pull out of the programme, your supporters are given the choice of switching their support to another designer or taking a refund.
If you don't log-in to your Account for 6 months and we can't contact you, we will assume you're pulling out of the programme.
I have fewer supporters today - what's happened?
At any time up until you reach your adoption target, your supporters may choose to switch their elements to another designer or to request a refund.
How do I put myself up for adoption?
In your Account pages, go to My Adoption and click 'yes' when it asks you if you want to take part in the programme.
How do I thank my adopters?
In the My Adoption section of your account, you can customise the email that they receive to confirm their purchase of an adoption.
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