As the brainchild of Moda Operandi co-founder Aslaug Magnusdottir, Tinker Tailor got a lot of attention when it hit the startup scene in 2014, promising fashion fans the dual opportunity to design their own clothing from scratch and to customize features of existing designs from brands like Alberta Ferretti and Rodarte. Just this year, Fast Company named it one of the most innovative companies in style.
And yet, this Thursday, the company announced its intention to close its business. A rep for Tinker Tailor tells Fashionista that the startup is "ceasing operations due to inability to secure the additional funding it needs to grow."
When it launched, Tinker Tailor was one of a number of startups trying to make customizable clothing for women a reality at various price points. And as Fashionista reported last year, a 2013 survey from Bain & Company showed that 25 to 30 percent of women would be interested in customizing clothing though only 10 percent had done so, suggesting that there was a solid business opportunity in the space. Tinker Tailor's rep declined to provide recent sales figures, but clearly something wasn't working — and investors failed to bite.