Little Global Giants. "Big companies are good at identifying the intellectual property that is needed in a niche," writes Barnaby Feder in The New York Times, "but smaller players are often better equipped to get there." Like Boston Beer, for example, which, as Dr. Charles H. Matthews of the University of Cincinnati observes, "ignited the market for craft beers and microbreweries with the introduction of the Samuel Adams brand," in 1984. C. James Koch, whose family had been brewing beer for six generations, "did an exceptional job with the elements that are needed to dominate a niche market: knowing the product, the customer and the competition."

Thing is, even though it is now "a public company with a global brand name," Boston Beer, www.bostonbeer.com, remains a small business with just 368 employees as of the end of last year." It can stay small because, these days, it contracts "with bigger companies to brew and distribute its products." Point is, "Boston Beer identified a previously untapped market for a premium version of an existing product," and that, as Dr. Matthews observes, is "an opportunity that exists for small businesses in many areas." Another such opportunity -- in the rapid-prototyping business -- has been developed by S. Scott Crump, co-founder (with his wife, Lisa) of an outfit called Stratasys, www.stratasys.com. Although the Eden Prairie, Minn., company has just 200 employees and drives only $50 million in revenues, Stratasys is the global leader in its category ... and is publicly traded.

In business since 1990, Stratasys "turned technology from I.B.M." into a low-cost way for small groups of engineers to fashion plastic prototypes right at their desktops. Terry Wohlers, a market researcher, says "Stratasys did for rapid prototyping what Digital Equipment did for computing when it introduced the minicomputer." However, unlike Boston Beer, which now must compete against giants like Miller and Bud, Statasys is so specialized that it continues to dominate its niche. In fact, the giant multinationals are now pursuing distribution deals and other alliances with the company. Bottom line is, Scott Crump says the company has a cash balance of $45 million. All of which means he's sleeping better at night: "Early on, we had my American Express Platinum card," he says, (with maybe a smidge of nostalgia?). Nah.

Kinder Gentler Bling. "Right now there is too much celebrity-driven scream," says designer Thakoon Panichgul, explaining why his new collection is "the antithesis of bling," in a New York Times article by Ruth La Ferla. "Everything about this collection," says Thakoon, "is muted, not loud or vulgar." Indeed, his "10-piece collection" is "highlighted by a quilted coat in a shade of pink so tender it matched the inside of a bunny's ear." Aw. "There has to be something that's quieter, more grown up," says Thakoon.

His is a sentiment that is shared by shared by a number of designers, whose financing tends to be understated, as well. Among them are Lindy and Kathryn Jones of Palmer Jones, identical twins who, at 40, profile their customers as "hedge fund people and bankers ... women who fiercely love fashion but are innately conservative, not extreme." Joining the Joneses in this trend are Lisa Mayock and Sophie Buhai of Vena Cava, whose designs feature "really personal" details, as Lisa puts it -- "the sort of thing you would be aware of only if you got right up next to it."

But will that sell? It appears so. Thakoon Panichgul got a visit from Barneys New York, among others, and Bergdorf Goodman "was among the dozen or so retailers buzzing around the Midtown showroom of Y & Kei," another whispering-scream designer, "scribbling orders." Steven Alan, owner of a TriBeCa showroom, www.stevenalan.com, finds this outlook refreshing. "Plenty of people want a career in fashion ... It's a celebrity thing. But do they really want to be designers? Probably not." He adds: "They are into the process of making clothes."


Tim Manners, editor