Update: YOUTAILOR Finds New Investment, Withdraws Insolvency Application

Copyright YOUTAILOR, www.youtailor.de, all rights reserved!Just a few days ago, we reported about two mass customization companies that did not make it on their market for custom shirts. Amongst them was German start-up YOUTAILOR, one of the leading entrepreneurs in the field of online custom tailors.

Just moments ago we received news from YOUTAILOR's public relations department, informing us that the company has managed to find a new investor to support its future operations. From what we have learned, Christian Heitmeyer of Pearl Bay Beteiligungs GmbH, a German investment company already involved with ventures such as brands4friends and Allyouneed.com, has decided to commit to YOUTAILOR and help the company to stay in business.

As a result, YOUTAILOR has withdrawn their insolvency application which they had filed in July of this year.

It is great to see that an uprising German start-up gets another chance to develop and (re-)establish itself in the market of mass customized clothing. We will watch their further work and report back on their future successes – or lack thereof.

The full press release (in German language) by YOUTAILOR as sent to us today, August 20th, 2012, can be downloaded here.

By | 2018-06-14T06:54:21+00:00 August 21st, 2012|Clothing, Failures and Flaws, General, MC Graveyard|

About the Author:

Frank T. Piller is a Co-Director of the MIT Smart Customization Group at the MIT Media Lab, Massachusetts Institute of Technology, USA, and a chair professor of management at the Technology & Innovation Management Group of RWTH Aachen University, Germany, one of Europe’s leading institutes of technology. Before entering his recent position in Aachen, he worked at the MIT Sloan School of Management (2004-2007) and has been an associate professor of management at TUM Business School, Technische Universitaet Muenchen. Frequently quoted in The New York Times, The Economist, and Business Week, amongst others, Frank is regarded as one of the leading experts on strategies for customer-centric value creation, like mass customization, personalization, and innovation co-creation. His recent analysis of the crowdsourcing business model “Threadless” (co-authored with Susumu Ogawa), an innovative crowdsourcing business model in the fashion industry, has been elected as one of the Top-20 articles in MIT Sloan Management Review.