The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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LONDON, United Kingdom — In Part One of Fashion Business Basics, Imran Amed explains what budding fashion entrepreneurs need to know before they start their own label.
KEY LEARNINGS: Deciding whether to start a fashion business requires a lot of upfront thinking. Here are the things you need to know first:
1. Starting a fashion business is an intense, all-encompassing experience:
Running a small fashion business is a 24 hours a day, 7 days a week commitment requiring militant self-discipline. You will need to think of yourself as a CEO first and will likely spend less than 10 percent of your time designing. You will have to oversee all aspects of the business, not just the creative parts. It is an exciting, exhilarating experience, but not a decision that should be taken lightly.
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2. There are four key steps in the fashion value chain:
3. Focusing on four critical success factors will help to increase your chances of success:
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