The art of subscription entails a provider in its efforts to provide a service or product that a user will release funds to said provider on a regularly schedule basis (weekly, monthly, etc.). We see this subscription model take many forms in our financial lives, but the most prominent example of this in our current lives is mostly likely Netflix. By charging users a set fee per month, Netflix allows users to watch as many dvds as they want, shipped one at time, in the privacy of their own homes. Once you are finished, you send it back and they then send you another one. This business model has revolutionized how we rent movies (along with digital), and is one of the main reasons that brick and mortar rental places are almost extinct . Now two companies are expanding that business model into the world of menswear. As they could be effectively be nicknamed the Netflix and Gamefly of ties, both Tie Try and Tie Society are seeking to change how we look at purchasing menswear while making traditional retailer reexamine the conventional business model.
As the brainchild two longtime friends in Alabama, TieTry was born out of their desire to not have the art of dressing in style to not be an endeavor that breaks the bank. TieTry seeks to give individuals access to neckwear that often times retails for up to nine times the rate of a basic membership. The company prides itself on making it possible for users to wear thousands of dollars worth of designer ties per month for a low monthly fee. Not being content with its business goals, TieTry has a deeply intertwined social mission. The founders are using TieTry as a vehicle to engage with charities through the donation both ties and financial resources to these charities, specifically targeting those that support education in low-income areas.
Membership at TieTry starts with a Bronze membership that allows you to have one tie out at a time for $11.99 per month. The memberships then increase with by one with the penultimate plan (Diamond) allowing members to have out five ties at once for $29.99.
Since its inception in 2011, Tie Society’s mission has been to provide the look of success to aspirational young men for less. By allowing men to outsource their collection, Tie Society is offering a “Rent the Runway” service that allows members to wear a new tie everyday of the week for less than the cost of a new single tie. While it merely started out with two lifelong friends swapping ties over football and beer on Sundays, Tie Society has grown into a company that ships over 2,500 packages a month with a rapidly growing membership.
Membership with Tie Society has only four levels, but expands on its selection by not only offering ties but by also offering other accessories including tie bars, bow ties, cufflinks, and pocket squares. The standard plan ($10.95) allows members to have one item out at a time. The membership levels cap out at allowing members to have ten items out at one time ($49.95)
The old phase “Membership has its privileges.” is certainly true when it comes to Tie Try and Tie Society. With membership comes a new path on one’s own road to personal style. Will these companies and other who utilize this business model in menswear shake up the retail world as we know it? We don’t know the answer, but we do know that thanks to Tie Try and Tie Society we will look a little more stylish on our way to finding out.