In the Fashion Report for 2024, McKinsey & Company and The State of Fashion called it – Riding out the storm.
In an industry full of uncertainties, young fashion start-ups are managed by the designers themselves who, while strong on the design front may easily find themselves overwhelmed with the business side of fashion, especially in the first few tricky years. The fashion industry is demanding, competitive and sometimes just unforgiving. Not everyone has the chance to compete favorably within this ever-changing field.
Refine your branding direction
Create and refine your brand’s personality. Branding is much more than just a logo. It is a combination of representations, values and communication practices that will forge a stronger connection with your clients.
Design for your clients
Think of your clients’ needs first. Think strategically when deciding which designs, colors and materials make it into your collection. Find the right balance between trendy and memorable, so you just stand out from your competition.
Source quality materials and ethical production
After you create your collection, finding quality materials and accessories can be tricky, but it is crucial. Sourcing quality materials at the right price is crucial. Take part in textile and fabric trade shows that happen around the world annually.
Producing might be the less glamorous journey, but it is a vital one. There are a lot of steps within the production phase, so make sure you manage your time and abilities right.
Create valuable marketing
According to The State of Fashion 2024, “Brand marketing will likely be back in the limelight in the year ahead as the fashion industry confronts a shifting landscape in which performance marketing no longer reigns.” Marketing is now about consumer’s emotional connection with the brand’s story, values and approach to life.
Engage in adequate partnerships
The best way to learn and find your way within this industry is to partner with those who have experience. Designers, textile suppliers, factories, influencers and retailers; all have their part to win from strategic partnerships. Through them you will gain an understanding of what your potential can do and what challenges lie on the road ahead.
Our role at Fashion-ing is to bridge the gap between the design and business practices of running your own brand. Will be your guide and help you build a strong foundation from which your fashion brand can succeed.
Want to know more, reach out and tell us more about your fashion brand!
This article was written by Serena ANTONIOS, fashion strategy consultant for Fashion-ing Consultancy .
