Ties: Some men love wearing them as a way to feel polished and professional, while others loop them on every morning but don’t particularly like shopping for them at a store.
Either could be a welcome member of the Tie Society, a subscription retail startup that lets subscribers sign up to receive an assortment of ties by mail for a monthly fee and and exchange them for a fresh set when they tire of them. It’s a a business model that ties together three trends: the “sharing economy” where goods are shared instead of bought outright, online subscription retail, and slicing out the traditional retail middle man.
To get the business off the ground, co-founders Otis Collins and Zac Gittens initially self-financed, investing about $40,000 to buy ties wholesale, and set about developing relationships with wholesalers. In August, they went to 500 Startups, an incubator that takes a share of the company in exchange for assistance in getting started and seed funding.