The Business of Fashion: Basics

Source: Shutterstock

Source: Shutterstock

Over the coming months, in addition to our regular musings on the Business of Fashion (as well as a few creative diversions  and digressions on new collections, hot fashion news, and industry analysis), The Business of Fashion will introduce a regular series of articles on setting up a new fashion business, and what it takes to be successful both creatively and financially in this competitive space.  We’ll call it “The Business of Fashion: Basics”.

It is true that there is an increased market demand for collections from emerging designers largely due to the consumer’s ever-developing need for individuality and uniqueness in this world of mega luxury brands. It is also true that starting up a fashion business is tougher than ever, and more than 95% of start-up fashion businesses fail, and not just because the designer didn’t hit the right creative notes. More often than not, it is the lack of proper planning, funding and infrastructure that lets even the most creatively gifted designers down.

Stories about about the financial challenges that plagued some of the industry’s best known names early in their careers — John Galliano, Marc Jacobs, and Isaac Mizrahi, just to name a few. This series of posts will try to uncover the secrets to success and provide a logical reading path for readers who are thinking about their own fashion businesses and how to take them forward:

  • How do I go about writing a business plan?
  • What is better for me, equity or debt financing?
  • Where do I allocate my limited resources, to a production manager or sales manager?
  • How do I go about creating the necessary PR support for my business?
  • etc.

We hope to touch on these and many other topics in the months to come and look forward to receiving your feedback. In the meantime, this is the proposed set of articles that you can expect to see here soon:

Basics 1 – Setting up your own fashion business – what do I need to know first?
Basics 2 – What is a business plan for and how do I go about writing it?
Basics 3 – How do I find the right investors and partners?
Basics 4 – How do I decide where to allocate my capital?
Basics 5 – Design and development
Basics 6 – Sales
Basics 7 – Production
Basics 8 – Marketing
Basics 9 – E-Commerce

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15 comments

  1. Now this is what I am talking about! Also, you should email Kathleen Fasanella at Fashion Incubator. She works to support design entreprenuers with her blog. Tell her I sent you

  2. Your blog is one of the best I’ve read!

    I’ve been in business since 2005 and this is one of the few fashion business blogs that covers fashion with such an insight ful but informative business sense,without glossing it over with silly ads to buy more products wholesale.

    The images are great as well, and I appreciate the articles above as I attempt to maintain and grow my business in this economy.

  3. Your blog is amazing! It’s been highly enlightening and enjoyable to read simultaneously.
    I am wondering though, if you are going to post the business of fashion basics parts 5 through 8?

    lana from United Arab Emirates
  4. This is great….I am based in UK and this “blog” gives a good representation of knowledge and skills needed by all wanting to take a chance in this fascinating and exciting industry. Thank you

    Leon King from United Kingdom
  5. I always enjoy your articles on growing a fashion business.

    I am really interested in reading more of your articles on the growing e-retailer businesses. I am always looking to better understand the trends that can help me build my business.

    thanks!

  6. You got a really useful blog. I have been here reading for about an hour. I am a newbie and your success is very much an inspiration for me.

    wpolscemamymocneseo from Miedzyzdroje, West Pomeranian Voivodeship, Poland
  7. i am dying to read basics 5-8. how can i access this?

    sasha from Teaneck, NJ, United States
  8. would love to see an article on freelance work within the fashion industry.

    Charlotte from London, London, United Kingdom