A Buffalo-based menswear merchant and online retailer named Anaghe Atelier is the recipient of Launch NY’s latest round of funding. Through the Founders Go Big (FGB) program, Anaghe Atelier – an outfit of custom clothing and accessories specializing in tracksuits, shoes and sneakers – received $ 25,000.
The funding (in part through a grant from JP Morgan Chase in early 2020), allocated to underrepresented and underserved founders, will allow Anthony Boyd, founder and CEO of Anaghe Atelier, to grow his business and reinvest in WNY. Boyd is now looking for a new location for his operation; he is looking for a multi-faceted space with a showroom and a commercial presence for his personalized meetings. Boyd has so far relied heavily on online and out-of-state sales, but he hopes to develop a stronger presence in the Buffalo market in the future.
“Through innovative collaborations, unique designs and intricate manufacturing, Anaghe Atelier proves that businesses don’t need a New York address to disrupt the fashion industry,” said Marnie LaVigne, President- Managing Director of Launch NY. “Our dedicated funding for underserved founders means being able to level the playing field for all innovators in our region to have a chance to grow a scalable business right here in our own backyard.”
“Launch NY has created a strong platform to reach hundreds of businesses at any given time and has a proven track record of reaching underrepresented founders in some of our most economically disadvantaged neighborhoods,” said Jeanique Druses, vice -President of Global Philanthropy at JPMorgan Chase. “Now our partnership to pave the way for a high growth business success opens doors for even more entrepreneurs to pursue their dreams. “
The impact of the funding will give Buffalo a true fashion house and a role model for other talented designers on the East Side of Buffalo looking to expand, with the goal of creating a network that would capture some of the commerce that passes between. New York and Toronto.
As part of the Launch NY boost, Boyd had access to an Entrepreneur-In-Residence (EIR) program that uses the internationally recognized Business Model Canvas, with the aim of making Workshop of Anaghe “ready to invest. Since the start of the program, Entrepreneur in Residence (IBO) Deb O’Shea has worked with Boyd to “better organize and focus” the overall vision for the company.
“It [O’Shea] reminded me that there is no rush, ”Boyd said,“ I don’t run in anyone else’s race and my success doesn’t have to come at the same pace as the next guy’s. It’s important to keep everything in perspective.
In addition to the EIR program that Boyd immersed himself in, the workshop also has access to the recently added Founders Go Big programming initiatives that will help him further strengthen his business acumen with hands-on work and peer interactions. Boyd wanted to grow his business beyond fashion, securing military contracts that would help him develop and diversify his lines.
Anaghe Atelier offers CAD / CAM design services, as well as sample fabrication for the sewn products industry.
Asked about his thoughts on entrepreneurship, Boyd said, “Prepare for failure. Be aware that whatever you try probably won’t work the first time. You’re going to have to regroup and try again – maybe even several times – before you get it right. These tips have been invaluable to me as Anaghe Atelier takes each next step. There are no shortcuts and the advice from my EIR has put me on the right track.
“I am often behind the sewing machine to make sure that we can meet the expectations of our customers. Thanks to Launch NY and FGB, I can now have more help, which will also allow me to increase our dissemination and production capacities.
For more information on Launch NY, Founders Go Big, its other programs, and entrepreneurial opportunities, visit www.launchny.org, and follow Launch NY on Facebook, Twitter and LinkedIn.