A recent article in Drapers discussed ‘Can Bonded Warehousing take the bite out of Brexit?’. When goods now enter or leave the country there are tariffs, VAT and customs costs to deal with, as well as facing increased costs, brands are also dealing with complications, delays and problems due to really complex country of origin rules.
Read MoreThe last year has seen the high street be decimated by the loss of so many high street brands. Whilst this is devastating for many, this actually opens up a whole new world of possibilities for emerging fashion labels. Landlords and property agents across the world are looking at new options to fill their spaces and offer exciting consumer opportunities to entice the customer back to physical shops.
Read MoreA question often asked is, when designing a collection where does the inspiration come from? For some designers the starting point will be the fabrics, but for others they will find inspiration from history, the current populism, arts, nature or music. Inspiration can sometimes come from very random sources, but it doesn’t always come easily.
Read MoreIt is essential that a new brand designs a commercially viable collection, and doesn’t get carried away creating pieces that are either unwearable or don’t appeal to the brands perceived customers. The collection needs to sell, either by wholesale or direct to customer, but either option means the range must be cohesive, have a recognisable signature and meet the needs of an identified customer.
Read MoreSocial selling is a strategy that involves using your contacts and social network to grow your business. This includes engaging friends, family and colleagues, as well as your social media contacts, to find and talk to new customers and make sales. With social selling you will find, connect with, understand, and nurture sales prospects in a genuine way, but also run your business with a cash flow strategy that can increase your survival rate.
Read MoreAs the traditional wholesale market became harder to master, a lot of young brands have turned instead to direct-to-consumer methods by setting up their own online shop. This is appealing as it gives the opportunity to sell with margins three or four times higher than wholesaling, as well as connecting directly with the customer and gathering their data. The reality has been that most start up fashion brands find they make no, or very little, sales in the beginning through their own online stores.
Read MoreIf a brand isn’t put off by the horrendous terms offered by the larger retailers and they still want to pursue wholesale orders, then they have to consider what they have to offer the store other than product. Many of the big department store buyers tell me that they now look to only take on brands that have already built a good customer base, as they need the brand to promote to and drive these customers towards their store.
Read MoreTraditionally the route to market for emerging designers was to focus on wholesale sales to stores. You developed this market by creating a sample collection, emailing look books to buyers, contacting them for appointments and participating in trade shows to meet with the store buyers to show them your collection. However, the world has changed, and the wholesale market for emerging designers does not exist in the same way anymore.
Read MoreAn emerging brand needs to focus on sales if they want to survive and succeed, yet many do not consider how to take advantage of new methods of selling their collections. The fashion industry continues to adjust and adapt to the changes brought about by new technology and social media platforms, which has changed the speed at which a new business can grow, as well as how consumers shop.
Read MoreChanges in consumer behaviours have meant that the customer now seeks new experiences, authenticity in their relationships with brands and transparency in the design and making process, not just product. Today’s customer is marketing savvy, not easily fooled and tunes out many elements of promotion and advertising. They are looking to find more genuine brands to connect with, ones that share their values, ethics and personality.
Read MoreResearch is an essential part of launching a fashion label and that research includes determining who your competitors and target customers are. Understanding your customer will help you create the product, uncover the language you will use to communicate with them, explain how you will sell to them and guide the brand development.
Read MoreMany start-up brands don’t really know who their actual competitors are, due to a lack of research or understanding of the competitor landscape. They often declare that they have no competitors, or believe that what they do is totally unique. Yet they have no research or evidence to prove that this is true.
Read MoreOver the years I have seen many brands that have already designed and made their collection before they think about who their customer is. It is only when they discover that no one rushes forward to buy their garments, that they panic and think, “who is my customer?”.
Read MoreI have talked before about the importance of good mental health on your business and how taking care of it is an investment in yourself and your business. In today’s blog post I talk about areas for you to work on to keep your mental health in good form.
Read MoreOften we are so busy running our businesses that we don’t recognise the warning signs that stress and anxiety are starting to build up.
Read MoreIn order to pivot your business post lockdown, you first of all need to take a step back and really look at what is going on both inside your business and outside, in the wider world. No business should carry on regardless, without taking a regular look at the changing landscape and consider what they may need to change in order to survive or grow.
Read MoreIf you are consistent in your business, it will give you an advantage over fickle competitors, who could be missing a trick in the way they run their brands.
Read MoreThe requirements of Pending B-Corp Status are to meet the legal accountability requirement for B Corp Certification, complete and submit a prospective B Impact Assessment and to sign the Pending B Corp Agreement, paying a one-time fee of £250.
Read MoreB Corp Certification is based on the verified practices and policies of a company over the past year, which means that only companies that have been in operation for at least twelve months are eligible for B Corporation Certification. However, B Lab heard from the market that early stage companies needed a way to signal to stakeholders like investors, board advisers, employees, and prospective clients that they were on track to certifying as a B Corp. B Lab created Pending B Corp status to help those early stage companies make that commitment count.
Read MoreOnce you have got the attention of a customer, you need to focus on maintaining them and building brand loyalty. It takes a lot of effort to get a customer in the first place, so it saves time and money if you can keep them.
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