Name: Tylmen Tech
Interviewee: CEO Lloyd A. Yates.
Which university challenge did you win and when? Or how are you affiliated with a university? I am an MBA student at Washington University in St. Louis, set to graduate in the spring of 2022. As a startup, we are actively involved in the entrepreneurial community at WASHU and the Saint Louis community and we were recently acknowledged as the Most Disruptive MBA Startup by Poets & Quants.
What is your elevator pitch? Has it changed much since you started?
We’re on a mission to help people shop the web with confidence knowing their exact size and fit through the use of sizing technology. Our pitch has changed quite a bit from originally being a suit company empowering shoppers to feel their best.
What should we know about you?
We are frustrated with how difficult it is to shop online and how screwed sizing is as a whole. Our mission is to bring a universal sizing approach and help shoppers have perfect information when buying e-commerce. We’re building a community where we can help people navigate a tricky online shopping landscape where we don’t know how clothes will look, fit, or feel. We’re building this community for everyone, including us.
What are you looking for?
We’re looking for people who dislike shopping online for similar reasons that we do. Mainly because sizing varies so much from brand to brand and we’re never sure how something will look when it shows up at our doorstep. If you feel like us, we have a solution for you.
Why should someone invest in you?
Ecommerce fashion is projected to be a $1 trillion industry by 2025. Online shopping is seeing massive growth which is causing higher than ever return rates. Returns are costly not only for brands but for the environment. The fashion industry needs a solution and we have it.
How much total funding have you raised so far and from which sources?
We have received $6,250 from WASHU’s entrepreneurship program. Other than that, we’re completely bootstrapped.
How many employees work for your startup?
We have 10 people on the Tylmen team who are passionate about solving the pain points of frustrated shopping, retail returns, and sustainability when it comes to online shopping.
Is there clear evidence of success you would like to share?
Recently we’ve been approached by a number of interested investors which shows us that we’re on the right path. We’re laser-focused to bring a universal sizing approach that will positively change the way we shop for clothes.
Worst and best advice received so far?
Best advice: Successful people do things right away
Worst advice: It’s not personal, it’s business.
This story and others on New Builders Dispatch are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit www.kauffman.org and connect with www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.