Spotlight on MODAFIRMA founder Angela Ene’ Adamopoulos

Tell us a little bit about Modafirma!

Modafirma is an exclusive social commerce fashion platform. Modafirma means ‘fashion firm’ in Latin because that is what we exactly are. We provide the technology and virtual space for emerging fashion designers, fashion designers and artisans to locate, communicate, sell and showcase directly to consumers globally.

Why did you decide to cover fashion?

I decided to establish an enterprise that covered and focused on fashion, primarily because I believe that if you endeavour to start a business, you are half way there if you specialise in a something that is also a hobby, something you would do even if you weren’t paid to do it. I have a love affair with fashion, in particular the business of fashion. I can never get bored of the feel and smell of clothes and the buzz I get from shopping from various independent designers and quirky boutiques all over the world. I decided to channel this energy into running a business, subsequently bringing all those independent fashion designers boutiques into one centralised place online.

Who is your favourite designer or what inspires you most about fashion?

This is a very hard question as I have many. I have always loved anything by Alexander McQueen. Right now it is Olivier Rousteing with his injection of sexiness that has the ability to add instant sassiness and confidence to the wearer. What inspires me about fashion is the fact that it isn’t just about wearing clothes and looking great, it is about an expression of self, emotions and identity.

Do you have a background in fashion?

No I do not have a background in fashion per se. My background is finance and banking. I spent over ten years as a former Chartered investment analyst and Chartered accountant within some of the largest financial institutions within the City of London. After finalising my masters’ degree at Cass Business School, whereby my thesis focussed on “Establishing and analysing methodologies for financial valuation of start up technology firms”. I decided that this was an exciting sector and that at some point I would like to establish my own technology firm. I have always liked fashion especially the business of fashion. I decided to establish Modafirma after realising that I could not locate independent fashion designers and clothing in one central online space. I then decided to build that space. That said, I had minor spats as a model in my late teens to early twenties. So I have had behind the scenes exposure to the industry. However, my family have historically been involved in the material and apparel sector and so perhaps it was a natural progression.

How do you work with PRs?

As an early stage start-up we have had little interaction with PRs. However, we try to garner and leverage the power of the press. We are now reaching out to various PRs who can work with us to help us promote the ethos of what Modafirma is about.

What types of challenges do you face as a new start-up website?

As a new start-up platform, we face a plethora of challenges daily. The main one is keeping adept with the fast changing fate of fashion technology and keeping all our partners interested. We are B2B and B2C platform so this is double the demand that is normally required for an ecommerce website. A lot of brainstorming occurs daily, I have a phenomenal Project Manager who not only runs ideas by me based on technological changes but also co-analyses potential ideas.

How has technology influenced the fashion e-commerce industry?

I believe technology has not only influenced but completely revolutionised the e-commerce industry. For example e-tailing is a new area of fashion e-commerce that has still scope for growth no longer is it just a case of buying online and hoping that your purchases will be the best fit but rather technology has focused on ensuring that purchased clothes fit, by use of virtual fitting rooms and mannequins that mimic the dimensions of the purchaser and display how the item would appear if worn. Furthermore, the advent of big data has given us great insight shopper behaviour and psychology and has facilitated a more targeted and streamlined approached to locating consumers and gaining their loyalty.

How would you like to see the site progress?

As we are aiming to be one of the main movers and shakers within the fashion social commerce sector, the next step will to take Modafirma in the app sphere adding new social buying features in line with consumer wants and likes. Furthermore we intend to move into other fashion genres and to develop our digital showroom facet, with the aim of giving designers a larger more accessible platform for self-promotion.

What does an average working day look like to you?

On a good day, I rise at 5:00 am, I head for the coffee machine, feed the cat, check and follow up on any emails, I make a list of things I need to do for the day, jot down any ideas I have for the business and then head of for the gym for an early start. I am prepared for work circa 7:30 and back at home to drop my son at childcare. At 8:30 am I head off to work and I am normally at my desk at 9:10 am. The morning begins with liaising with my project manager about the status quo of current and ensuing projects, touching base with our CMO Cate Rubenstein who is LA based. Catching up with coders regarding feasibility of software to be deployed. Post this the rest of my day revolves around research, looking for fashion designer partners and attending meetings. I spend copious amounts of pouring over cash flow statements and also re-adjusting company valuation models. I usually terminate my day at 5:00 but will continue to work later on into the night post family time.