Lisa and Kaitlyn Fergus had a great deal in common long before becoming family. The sisters-in-law were both had years of experience in the fashion industry as budding style experts and self professed ‘shopaholics’. Now, the Fergus’ have turned their love of labels and knowledge of social media into a business venture that is starting to take off.
Because I Shop Too Much (www.bistm.com) is an online marketplace that combines the excitement of internet shopping with social networking. BISTM provides a unique cyber experience where visitors can buy, sell and swap clothing and accessories while interacting with other fashion-addicted females. The online community takes things one step further than their competitors by allowing users to offer and ask for style advice, sell their new or gently-used clothing, shoes, handbags, jewelry and accessories and shop for items from brands like Chanel, H&M, 7 For All Mankind, GAP and more - all on one website.
“We recognized a void in the luxury consignment marketplace,” says Lisa. “We wanted to create an online community where fashion lovers worldwide could come together and communicate about their favorite hobby while browsing and buying items from their peers.”
Though the company just launched this year, Because I Shop Too Much is already showing some impressive numbers.
“Our revenue tripled between July and August alone,” says Kaitlyn. “We currently have hundreds of users and thousands of items for sale on the site - and those numbers are rapidly growing each and every day.”
In the midst of this seemingly immediate success, Lisa and Kaitlyn are looking to the future. The sisters-in-law are working on expanding the BISTM brand into children's clothing, accessories and more.
“We are in the process of completing a new branch of the company called Because They Grow Too Fast - a similar concept focused on babies and kids,” Lisa shares.
Because They Grow Too Fast is scheduled to debut in early 2013.