A Buffalo-based men’s clothier and online retailer by the name of Anaghe Atelier is the recipient of Launch NY’s most recent round of funding. Via the Founders Go Big (FGB) program, Anaghe Atelier – a custom clothing and accessories outfit that specializes in sweat suits, shoes, and sneakers – has been awarded $25,000.
The funding (thanks in part to a grant from J.P. Morgan Chase in early 2020), allocated for 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 on the hunt to find a new location for his operation; he is searching for a multifaceted space with a showroom and retail presence for his custom appointments. Until this point, Boyd has relied heavily on online sales, and out-of-state sales, but he hopes to develop a stronger presence in the Buffalo market moving forward.
“Through innovative collaborations, unique designs and intricate workmanship, Anaghe Atelier is proving that businesses don’t need a NYC address to disrupt the fashion industry,” said Marnie LaVigne, Launch NY’s President and CEO. “Our dedicated funding for underserved founders means being able to level the playing field for all innovators in our region to have a shot at growing a scalable business right here in our own backyard.”
“Launch NY has created a robust platform for reaching hundreds of companies at any given time and has a proven track record for reaching underrepresented founders in some of our most economically distressed neighborhoods,” said Jeanique Druses, Vice President of Global Philanthropy at JPMorgan Chase. “Now, our partnership to fuel a pathway to high-growth business success is opening doors for even more entrepreneurs to pursue their dreams.”
The impact of the funding will give Buffalo a true Fashion House and blueprint for other talented designers from the East Side of Buffalo seeking to scale, with a goal to create a net that would capture some of the commerce that passes between NYC and Toronto.
As part of the Launch NY boost, Boyd has had access to an Entrepreneur-In-Residence (EIR) program that utilizes the internationally-recognized “Business Model Canvas,” with the goal of making Anaghe Atelier “investment-ready.” Since the start of the program, Entrepreneur in Residence (EIR) Deb O’Shea has worked with Boyd to “better organized and focus” the overall vision for the business.
“She [O’Shea] reminded me that there’s no rush,” said Boyd, “I’m not running in anyone else’s race, and my success doesn’t have to happen at the same pace as the next guy’s. It’s important to keep everything in perspective.”
Along with the EIR program that Boyd has immersed himself into, the atelier also has access to newly added Founders Go Big programming initiatives that will help him to further strengthen his business acumen with hands-on work and peer-to-peer interactions. Boyd is interested in expanding his business beyond fashion, by securing military contracts that would help him to grow and diversify his lines.
Anaghe Atelier offers CAD/CAM design services, as well as sample making for the sewn products industry.
When asked about his thoughts on entrepreneurship, Boyd said, “Prepare for failure. Know that whatever you try probably isn’t going to work the first time around. You’re going to have to regroup and try again – maybe even a few times – before you get it right. That advice has been invaluable to me as Anaghe Atelier takes each next step. There are no shortcuts, and my EIR’s guidance has put me on the right track.
“I’m often behind the sewing machine, making sure we can meet our clients’ expectations. Thanks to Launch NY and FGB, now I can have more help, which will also allow me to rev up our outreach and production capabilities.”
For more information about Launch NY, Founders Go Big, its other programs, and entrepreneurial opportunities, visit www.launchny.org, and follow Launch NY on Facebook, Twitter and LinkedIn.