Launching A New Fashion Business? Here’s What You Should Know

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Launching a brand of clothing can be a lifelong dream. However, following fashion because you love it is different from creating your own clothes. And developing your brand is different from selling it. Fashion is a rich universe and you need to prepare for it before taking the plunge. Design, creation and inventiveness are the necessary assets to launch a brand of clothing, jewelry or accessories. But fashion is also a business. A creative business, of course, but a business all the same. Figures and analysis are parameters that will need to be taken into account before and throughout your adventure if you want your business to be viable. What type of fashion is it? Dresses, or jeans manufacturing

Photo by Hannah Morgan on Unsplash

Know yourself well and know your project

Identifying your project is essential before starting. Fashion is a big business, asking the right questions will not be a superfluous step in establishing a common thread to hang on to. It will also be the identity of your brand. The care that you will bring to your project will allow you to know it in depth, to take care of the details and to sell it better when you are brought there.

A whole battery of questions therefore appears to be essential: which ready-to-wear line are you launching? Who do you want to sell to? Will you create a single product line or several? What positioning will you adopt? Is the chosen market receptive? Will your products be low-end or luxury? Do you specialize in a specific niche? 

All of these questions can be summed up in one final: what is your goal? Get to know your ambitions, the life project you want to give to your business and the compatibility with yours. Do you want to work in simplicity or create a fashion empire? All of this thinking determines the business you are going to create as well as its desired size. It will also push you to be comfortable with your project and not get caught up in something that might be wrong for you.

Keep a close eye on the market

In the start-up phase, it is important to identify the market in which you will operate and to understand what the trends and opportunities are, whether local, national or international. All: appropriate for your project.  To better give you the opportunity to know your market, meet potential customers whether they are individuals, retail stores or textile suppliers. They are the ones who are going to make the trend to which you will have to stick. So keep in mind their needs, the reasons why they buy a particular item of clothing or jewelry rather than another. Knowing what buyers want will allow you to sell what they need. Also think about margins in addition to the cost of production. These are the profit margins that will keep your business going. Also give yourself the means to know the competition. Analyze the segment in which companies are located, what their prices are, the style of their ready-to-wear, the partners they work with, the material they use and the quality of their fabric.  Afterall, people always want quality. 

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