Rasool, one of the youngest Black women to get over $1M in funding, wants to build the ‘LVMH of Africa’
, 2022-05-26 15:00:00,
Africa is home to some of the world’s most beautiful fashion pieces but many of these designers never get seen in the global market due to a lack of access. Also, many designers are not taking advantage of the internet to showcase their products to the world.
New York City-based Amira Rasool also realized this soon after a trip from South Africa. She received compliments on the clothing and accessories she brought from Africa to the U.S. Besides the compliments she was receiving, she saw a business opportunity to bring African designs to the international market.
This led her to launch The Folklore, an e-commerce distribution company that aims to bring African fashion designers and brands to a global market. She started the e-commerce platform in 2017, running the business herself for about two years. She joined the Techstars’s accelerator program in 2021, and that taught her the skills she needed to know how to approach investors with success.
“The Folklore was always an extension of my style, the aesthetics I would say was inspired by my travels, especially in East Asia,” she told Blackgirlfest. “I love the street style there and so I wanted to create a platform that speaks to well-travelled customers who are looking for something that is unique and helps them stand out from the crowd.
“I’ve chosen to focus on Africa and the Diaspora because that’s what I’m passionate about, and I wanted to provide a platform for African designers who don’t have the opportunity to distribute globally.”
In April this year, the 26-year-old announced a $1.7 million in pre-seed funding for her brand, led by the Los Angeles-based early-stage venture capital firm Slauson & Co. The fundraise puts Rasool among a handful of Black…
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