INTERVIEW | Gaga and Bieber Are Obsessed?! Do You Know the New Service "Fancy"?
INTERVIEW | Kosaku Yada, Representative of Fancy Japan
Gaga and Bieber Are Obsessed?! Do You Know the New Service "Fancy"?
Launched in the US in 2012, "Fancy" is an online service with an impressive roster of users including Lady Gaga, Justin Bieber, and Bill Gates. What exactly is this service, described as "social commerce"? And why has it set its sights on Japan as its second market? We spoke with Kosaku Yada, the representative of "Fancy Japan."
Interview & Text by Junko TANAKA (OPENERS)Photographs (portrait) by JAMANDFIXStyling (portrait) by Ralph Lauren
Anything "Cool" Is Welcome
In February of this year, a new American service called "Fancy" arrived. It's a website that offers "social commerce"—a blend of social media functions, like those of "Facebook" and "Twitter," with online shopping capabilities (e-commerce). Peeking inside, one finds products curated by renowned celebrities and tastemakers such as actor Ashton Kutcher and musician P!nk, presented alongside beautiful photography.
Its simple, clean design is reminiscent of photo-sharing services like "Pinterest" and "Instagram." Indeed, photos, not text, occupy 90% of the site. With only the minimum necessary text—brand name, item name, and price (for purchasable items)—the photos themselves are the most effective "salespeople," conveying the product's appeal. From fashion items to furniture and gadgets, "anything that is a 'cool' product with both quality and design" is acceptable, according to Yada. Similar to "Like" buttons, pressing the "Fancy" button on a product you're interested in shares that information.
The Reason for Committing to Japan
Despite being established just last year, the service has garnered over 3 million users and was selected as "BEST APP" by both Apple and Google. The site already supports 30 languages, including Japanese, ensuring robust user support. So, what was the special reason for launching "Fancy Japan" and deciding on a full-scale entry into the Japanese market?
There are primarily two reasons. Firstly, Japan is a treasure trove of beautiful design. Consumers here possess a discerning eye for quality products. This can be considered Japan's "natural resource" to be proud of globally. In the future, we aim to use the Fancy Japan site to showcase excellent Japanese products to the world.
Secondly, the penetration rate of mobile devices like smartphones and tablets is high. Although Fancy started as a website, the majority of users now access it through the application. Japanese consumers are accustomed to purchasing products via these devices, making them a very good fit for Fancy.
Meeting CEO Joseph Einhorn
After graduating from Harvard University, Yada came to Japan intending to pursue a career in finance. However, by what seemed like fate, he was scouted by a basketball team coach and ended up dedicating two years to professional basketball. He later transitioned into business and, through a university friend involved in Fancy's establishment, met CEO Joseph Einhorn. They began exchanging views on Fancy's future.
After retiring from basketball, I intended to start an e-commerce business in Japan. While researching, I explored various websites, but Fancy's momentum was exceptional. It was visually engaging and practical—a novel business model had emerged. When I actually met and spoke with Joseph, we discovered we shared the same vision. It was a very natural progression to decide to join forces.
From Individual Action to a Place Where Conversations Spark Through Objects
The future envisioned by the two men is to change the paradigm of "online shopping as an individual activity, hunched over a computer." Instead of a place visited furtively for the sake of product availability or lower prices, they aim to create a destination people want to visit together.
Joseph and I always talk about wanting to make online shopping fun. Just as you might pick up an item that catches your eye while browsing a physical store, we want people to "Fancy" items as they scroll through their smartphones or computers. Then, their friends might comment, 'That's not really your style,' or 'That might suit so-and-so.' Conversations arise through the objects themselves. That is precisely the 'social shopping experience' we are aiming for.
Kosaku Yada
Representative of Fancy Japan. Born in 1984 in Oregon, USA. He has a Japanese-American mother and an American father. After graduating from Harvard University, he moved to Japan. After a career as a professional basketball player, he transitioned into business. In February 2013, he launched Fancy Japan. In March, he released "Fancy Box," a "lucky bag" curated by VERBAL of m-flo. Yada stated, "With this as an opportunity, we want to enhance our range of Japanese products."
Fancy
http://www.thefancy.com/