Those currently involved with the Sydney startup community would be familiar with 99dresses founder Nikki Durkin, at only 19 years of age she has already launched a successful business and has seen her fair share of accolades and media coverage.
99dresses provides women with an infinite wardrobe of fashion, customers buy and sell garments with a virtual currency called ‘buttons’ and the concept is the more items you sell the more buttons you make to spend on other items. Of course if you don’t have clothes to sell you can buy buttons for a dollar each to spend on items from the wardrobe.
Currently the site boasts 5,500 members and have traded over 4,000 items between customers and they have not yet spent a cent on marketing. There are two full time staff members being Nikki, the programmer as well as a casual customer service person. The next 12 months the team will be focusing on product development and ensuring that new plans they have in the works are of the best quality before they launch. They will also be looking at ways to ensure they increase the amount of brands available on their site.
Nikki is a regular attendee of networking events such as the Entourage networking evenings and Young Entrepreneurs Australia, telling us that a sense of community and support from other start ups and people that have been, or are in the same position as you are at that moment of your journey – provides you with a particular type of interaction that can help you to start taking those next steps towards your goals.
As for advice to other young entrepreneurs as to what the hot industry is right now? Durkin favours the tech space due to the amount of stuff currently going on in the space and the fact that with a great technical co-founder your vision can be bought to life for next to nothing.