Based in Dublin’s Fair City, Luxysale is an online portal boasting 3.5 million luxury fashion products from all the major designer brands.
For Luxysale CEO and co-Founder Fuad Aliyev, his mission is a simple one — “to become the only destination of all designer fashion shoppers when they look for affordable luxury.” In other words, a single door to all the world’s luxury fashion sale opportunities.
While most fashion luxury retailers have an average 30K – 40K available products, Luxysale goes astronomically beyond with over 3.5 million — and is now looking towards AI to process the gargantuan amount of data to process.
Here, Fuad discusses his inspiration behind the Irish startup, his down-to-earth approach with client feedback, and how his passion is revolutionizing the e-commerce fashion industry.
First off, can you tell us a little about yourself and how you got started in luxury fashion?
I’ve founded number of startups in a number of different sectors including retail, e-commerce, classified ads, video animation, and luxury fashion. Two years ago we started Dluxdays which was a website where members could get exclusive discounts from luxury fashion brands on their special occasions such as birthdays, anniversaries, graduation etc.
I have been in the luxury fashion industry ever since, and we recently launched Luxysale after noticing that price-conscious luxury fashion shoppers often have to visit number of retailer websites one after another in order to check the available products on sale.
Within the last two-year period I’ve learned much about the industry both from our users and by researching. Since the industry is one of the most diverse industries in the business world, I must admit that I’m still learning a lot.
However, I can proudly say that I am quite knowledgeable about all up and downs of the industry, which allows me lead the company, and I believe that this experience and knowledge can play a huge role in our future success.
Why should anyone care about Luxysale? What makes it unique?
Luxysale brings together all Luxury Fashion sales from hundreds of luxury retailers worldwide and lists them on one website where users can find the best sale opportunities without having to visit dozens of store’s websites one-by-one.
So, is Luxysale basically a one-stop shop for all the big brands, or is it more than that? How exactly does this work?
We are an aggregator platform for luxe fashion e-commerce and due to the nature of the business, we work with huge amounts of data from many retailers. The number of products we process, upload and categorize every day is 3.5 million right now, and as we sign more retailers this number increases.
To give you a better idea how big this number is, I should note that the number of products in an average luxury fashion retailer is about 30K-40K. This means that we basically have to process all the product data from so many retailers and categorize them. Every retailer has its own category system and category names, which makes it very difficult to include products into one universal categories model in a correct way.
3.5 million is an astronomically large number of products! How are you able to process them all?
We have to use some AI-based software which recognizes the product’s category by ignoring what information is provided by each retailer. When we started, we weren’t aware of these issues and after knowing these difficulties we were afraid that it wouldn’t be possible to create a fully correct, universal categorizing method.
However, even though it will be hard, it is implementable. We are still working on completing the development of this model, and we will deploy the new model within 2-3 weeks. This will become a huge advancement and competitive advantage.
What then motivates you personally as an entrepreneur to take an a project of this grandeur, and how important of a role does feedback play in your decision making?
My single motivation in life is creating something that people will constantly use, love, and become grateful. Our team and I are quite aware of the fact that if the product/service isn’t top-notch, then no one in the world would want to use it or would use it on a constant basis.
We’ve received lots of feedback so far, and we are still receiving it. We receive both positive and negative feedback. We look for feedback all the time and mainly for negative ones. It is true that listening to a negative feedback isn’t easy, but I believe the only way to success is working on the negatives and prioritizing the positives.
I’d like to inspire all the readers to provide their valuable feedback because we are trying to solve their problems, and without knowing exactly what their problems and concerns are we cannot solve them either.
Apart from constantly looking for ways to improve, can you discuss what sets you apart from your many competitors in the industry?
We are the only shopping platform that aggregates sales from premium and luxury brands only. Most other competitors start working with all types of price ranges, and they agree with the medium-to-lower-end brands/retailers, which make them end-up working with those retailers only.
This is because most premium and luxury brands/retailers never allow their products to be sold in places where there are lower-end brands at the same time; otherwise it would ruin their brands.
By bringing together only high street brand products, we can successfully sign with top global luxury retailers, and this sets us apart.