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Necktie Trading Leads To Netflix-Like Business

December 19, 2011

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[1 min 27 sec]

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December 19, 2011

A year ago, former IBM consultant Zac Gittens and his friends realized they could expand their professional wardrobes by pooling their resources. Their tie-trading worked so well for them, they left their jobs and last month launched Tie Society, which operates out of a Washington, D.C townhouse.

RENEE MONTAGNE, HOST:

Of course, people share more than just information. Some cities offer car sharers or bike sharing services. And today's last word in business is: tie share, as in neckties.

A year ago, former IBM consultant Zac Gittens and his friends realized they could expand their professional wardrobes by pooling their resources.

ZAC GITTENS: I just sort of call up a friend and say hey, I've got a couple ties that I'm tired of wearing. Do you have anything? And then I'd dropped by his apartment, watch some football and we just like trade ties.

MONTAGNE: Their tie-trading worked so well for them, they left their jobs and last month launched Tie Society, which operates out of Washington, D.C. Like Netflix's DVD by mail service, Tie Society charges a monthly fee and sends users ties they chose ahead of time from a website.

Gittens says their most popular tie right now is the Astaire Diamond.

GITTENS: It's kind of a light iridescent pink with black diamonds on it.

MONTAGNE: And when a customer is sick of wearing the same time he sends it back and gets another. Of course, one could do what these guys did and start a business out of one's own home - there, you don't even need a tie.

And that's the business news on MORNING EDITION from NPR News. I'm Renee Montagne.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

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