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Speaker 1: So we've got what seems like quite a good idea.

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Speaker 1: The company called the Precious Collaborative, which is a retail

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Speaker 1: outlet in Wanaka. They're selling their coats at ten thousand dollars.

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Speaker 1: Now that allows them, then if you go buy a

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Speaker 1: ten thousand dollar coat, it allows them to subsidize their

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Speaker 1: wool products in their shops. So in other words, something

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Speaker 1: you know that you would have bought for seven hundred

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Speaker 1: dollars suddenly goes down to two hundred dollars. Now. Clear

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Speaker 1: O Connell is the founder of this particular company, is

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Speaker 1: with us. Clear morning, Good morning. So the ten thousand dollars, well,

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Speaker 1: thank you. The ten thousand dollar coat is not ten

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Speaker 1: thousand dollars. It's whatever it is, plus an extra to

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Speaker 1: offset it, is that right? So it's sort of a

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Speaker 1: charity buy.

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Speaker 2: I don't know that i'd call it a charity buy

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Speaker 2: to be honest, because I think you're by purchasing the coat,

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Speaker 2: you're supporting so much within this country, from strong will

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Speaker 2: industry right through to local production. I don't really call

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Speaker 2: that charity. But what it is trying to do is

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Speaker 2: and the two people who've already purchased coats are very

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Speaker 2: much interested in enabling other people to experience higher end garments,

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Speaker 2: and people often think, first of all, they couldn't possibly

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Speaker 2: cost that much a seven hundred dollars pair of pants,

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Speaker 2: and then they would think, okay, well it couldn't possibly

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Speaker 2: be worth it, and actually it is. In both cases.

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Speaker 2: They cost that much to make if you want to

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Speaker 2: use high quality materials and manufacture in this country, and

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Speaker 2: it does feel fantastic. So the people who've purchased the

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Speaker 2: coats both want people who are unable to experience that

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Speaker 2: to do so, and that's why they're purchasing the coats.

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Speaker 2: And then a portion of the profit from the coat,

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Speaker 2: the ten thousand dollars that goes to the code. We've

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Speaker 2: had one code buyer who's actually asked to pay twenty

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Speaker 2: thousand dollars, so it's well above the asking price for

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Speaker 2: the coat because they understand the concept, and a portion

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Speaker 2: of the profit of that coat, a third of the

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Speaker 2: profit then drops straight back in to pull garments out

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Speaker 2: of the true price into the gift price, and that

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Speaker 2: a ten thousand dollars code purchase will subsidize approximately twenty garments.

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Speaker 1: Of people coming in and buying the pants.

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Speaker 2: Ye yes, so I sell online through our website. We

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Speaker 2: had our initial coat sale in December, so we had

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Speaker 2: somebody buy at auction. They bought for the ten thousand

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Speaker 2: dollars price, and then we had somebody else part to

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Speaker 2: the coat in May, and we launched our collection of

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Speaker 2: over two hundred garments produced in May June. We're just

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Speaker 2: sending out the remainder of those. We sold almost one

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Speaker 2: hundred garments and surprisingly and gratifyingly, ten percent of people

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Speaker 2: paid the true price they didn't have to, and another

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Speaker 2: five percent paid somewhere between the gift and the true price.

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Speaker 2: So the model is proven. I've been working on this

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Speaker 2: for over five years. I've proved that it works, that

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Speaker 2: people want to get good quality garments back in. We

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Speaker 2: want to shift this fast fashion problem. And this is

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Speaker 2: just a sort of an outside the regular way of

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Speaker 2: doing it.

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Speaker 1: I think, well, I'm glad it's working, by the way,

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Speaker 1: do you know? And I'm Nikolai Solakov. Now, well he's

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Speaker 1: a he's in Wonica as well. He's in fashion, and

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Speaker 1: he's discovered an old like Oscar ride and he's making jackets.

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Speaker 1: So you and him and Wonica, it's all go.

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Speaker 2: I tell you what, Warnica is a very interesting spot.

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Speaker 2: I've lived here for over twenty years and there are

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Speaker 2: some very interesting people that come to Wannicoat I think,

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Speaker 2: so I'll have to look him up.

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Speaker 1: Look him up. I'm so high from us because he's

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Speaker 1: on to a winner as well. Claire, and nice to

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Speaker 1: talk to me. You appreciate it, Claire O'Connell. Precious collaborative.

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Speaker 1: So you buy the flash coat. It subsidizes the pants

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Speaker 1: and the shirt. Look him up online. And as for

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Speaker 1: old nikolai oscar Ride, I'd never heard of the label,

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Speaker 1: but they make what I would loosely called drys of

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Speaker 1: bone type coats, coats that you wear outside barber type coats,

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Speaker 1: and they look super cool as well. So there's You's

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Speaker 1: your fashion film for Friday Morning.

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Speaker 2: For more from the Mic Asking Breakfast, listen live to

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Speaker 2: news talks.

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Speaker 1: It'd be from six am weekdays, or follow the podcast

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Speaker 1: on iHeartRadio.