The ongoing challenge of untangling the business of bra straps
I AM inspired by new products and ways of doing things – what is called “disruption”– and this led me to meeting Nigel Coole, an inventor. “Think back Richard, to when you were a teenager fumbling around on a date and got lucky enough to undo a bra. Do you remember the struggle and embarrassment with the clip?” Vague memories of a tangled mess came to mind, and I knew what he meant. “Well, it’s not just a problem for the boys,” he added. “Women who wear them can struggle too. On top of that, the hook and eye is ugly, lumpy under clothes, and an expensive component for manufacturers.”
Problems in a global market? Nigel had piqued my interest. “Great. But what’s the solution?” “A new type of bra hook, which is simpler, cheaper and prettier.” He laid out two small pieces of metal on the table. They fitted together like cupping your hands and linking them. “These clips are really easy to undo, and as long as there is tension pulling them apart, they stay locked.” “Really?” Nigel showed me a video of a female gymnast doing leaps and bounds wearing track pants and the bra. The bra stayed on. I peppered Nigel with questions. “Sales? Orders? Joint ventures?” “No, no, nothing.”
“What about patents?” “Yes, I’ve applied.” “Anything similar out there?” “No”.
So it was basically a good invention with no commercial progress. I thought I could add value, and I agreed to put up seed money and expertise in return for half of the business.
Like singers on X Factor, inventors have to be careful: no one likes to tell them they’re no good. Friends, families and fools will usually say “that’s great”, so I’ve learnt to look for dispassionate opinions of industry people, and their opinion means more if they spend some money.
So, the first thing I did was organise as many meetings with industry as possible, here and in Europe. The verbal response was overwhelming. “This could be the biggest thing since Wonder Bra” one expert said. We were asked to do “wash and wear” trials and these were successful. Some said plastic would be best, others metal. We got to the point of negotiation. Everyone wanted exclusivity for up to a year. That was fine by me; in fact, they could have exclusivity for nothing. In my mind, they would be doing us a favour by getting our product known and used.
Then things stalled. The next step would be to “tool up” to produce high quality samples, and everyone wanted us to do it, which made no sense. “But why? You’re better at that,” I said. The wholesalers wanted orders from retailers first, and the retailers wanted to see samples before ordering. Chicken and egg over a relatively small cost. So often I sense a resistance by the big players to change, to risk, to disruption.
We haven’t given up. I respect the industry for its opinion, but maybe not its innovation.
Since the mid-1990s Richard Farleigh has operated as a business angel, backing more early-stage companies than anyone else in the United Kingdom.
www.farleigh.com