Interview with Mr. Tsuyoshi Fukuya, CEO of WEFABRIK Inc.
‘Creating the value that will lead the way to the future’
1. Whats your name, and please tell about your background.
My name is Tsuyoshi Fukuya, and Im CEO of WEFABRIK.
I worked at a large textile trading company called “Takisada Osaka” in Japan for about 10 years. At the company I became aware that I planned and produced so much inventory and was then left with much wasted product. At this time, I came to know the truth about waste in the fashion industry, and that it exceeds 80 millions tons every year.
2. Please explain your startup and how did you started?
After my resignation from the above company, I started a business and B2B global platform called SMASELL, that will connect companies that want to dispose of their inventory with companies who want to buy clothes that are in stock at a discounted price.
3. Whats your role of your startup now?
My role is as CEO of the company, and I aim to follow my vision in creating a sustainable recycling society that benefits everyone in the world.
4. Who are your customers, and what problem are you solving for them?
Our customers are companies in the fashion industry around the world.
We want to solve problems related to inventory and waste in the industry.
5. What is unique about your solution? What is your unique insight?
Our business model is unique in that companies who want to dispose of their inventory can sell their product to hundreds of potential buyers online within just minutes.
6. How does your product actually work?
Our platform is just like an online free market site, through which every company in the fashion industry can buy and sell to clear or expand their inventories. There are functions that allow buyers to negotiate prices and quantities to sellers directly, or they can also order samples in order to check the quality of products.
7. How big is your market?
The market size of inventory in the fashion industry is $100 billion.
8. What is your business model?
Our business model is a sharing economy, in that every company can share their unnecessary inventory with companies who want to buy them.
9. What is your go-to-market strategy? Why now?
Our strategy is to be the industry’s first such business model, so we will pioneer from the top ten companies in each industry, aim for oligopolization, and take the top share of the industry.
10. Who are your competitors and how are you different?
Our chief competitor is Inturn. Our difference with them is that you can sell bulk lot stocks at once and you can buy and sell from the Asian market, globally.
11. What is your vision, your true North?
Our vision is creating a sustainable recycling-oriented society for the future of mankind, for the future environment by sharing global stocks among countries and companies that need other companies’ stocks as resources.
12. Congratulations! Your startup is selected in TOP20 startups by Japanese government, to send to Silicon Valley. So When will you be here and what are your plans?
Thank you Mr. John and the Japanese government for choosing us.
We are aiming to have American apparel companies make products by using the inventory of fabrics which the worldwide companies have left in China and ASEAN in large quantities through the course of this year.
By doing so, we can not only lower the cost of the sales ratio for apparel companies, but also become environmentally friendly, making it possible to connect to CSR.
Ill be joining your #StartupFire at 42 Silicon Valley on 15th of February. Please come see me in the event.
13. Please write a message to your potential strategic partners, clients, and investors in Silicon Valley.
We are looking for distributors to customers of the textile fashion industry in the USA.We are also looking for investors who can invest 50 million dollars in our business.