An exciting program has been announced by the fashion startup, Peach Inc. of Waltham, MA. It has decided to start promoting the other small and emerging fashion accessory companies that have been founded by women.
The female entrepreneurs often confront enormous hurdles. It has been observed that female entrepreneurs get less venture capital funding for their business as compared to men. A study conducted by Babson College in the year 2014 revealed that eighty five percent of the businesses that had received venture capital funding had no women in their executive team. The percentage of companies that received venture capital funding with female CEO was 2.7 percent.
Since Peach is also founded by a woman, the apparel startup understands the challenges that the ladies have to face. They hope that their decision to promote the other female-founded brands is going to reduce the opportunity gap between the male and female entrepreneurs.
Peach is aiming to promote fashion and fitness accessory brands that are stylish and can be sold along with their contemporary athleisure apparel for women. In the year 2017, Peach has tested a program to buy, promote and sell the upcoming fashion accessory companies with the help of their wide network of personal stylists, website and social media platform.
Peach is now opening up a process, where founders of all emerging fashion and fitness accessory companies can apply to be a featured entrepreneur. They are going to help these companies get significant wholesale orders and free exposure that are going to assure their growth.
The CEO of Peach, Janet Kraus said that the program intends to support female entrepreneurship. She said that the program has been a success so far and many of their items have become bestsellers. With the new program, the company hopes that the founders are going to apply directly and avail huge opportunity.