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The culture of crowdfunding in Italy
- Veronica Polin
- veronica de crescenzo
Fashion industry, a strategic sector for the Italian economic system, is adopting a new approach combining sustainability and business strategy to face the competitiveness challenge. However, entrepreneurial projects to implement the 3 R’s model (Reduce, Reuse, Recycle) through product and process innovations, require adequate funds. Crowdfunding is an innovative financing tool representing an interesting alternative way to raise money from the 'crowd'. In this article, we shortly describe the Italian crowdfunding’s legal framework and investigate the relevance of crowdfunding practice for fashion business. Using a case study approach, we analyse economic and legal aspects of seven recent crowdfunded success campaigns of the fashion industry and try to identify any fashion-related specificities. "Fashion&Crowdfunding" is still a niche phenomenon, but with high potential: innovation, creativity, experimentation are common values shared by both activities.