STEPS FOR GROWING FASHION BRAND PROFITABLY
Launching a fashion brand is just the initial step in the fashion industry. It takes a lot more to sustainably grow over time, requiring discipline and commitment.
It takes a lot of hard work of months and years, and then coordinating every aspect for starting a fashion brand, having own fashion store, may be stock collection at a number of boutiques or sell online. Have to negotiate hard with suppliers and boutiques for a success of first collection as a new name in the crowded space of designers. It’s very important to grow it profitably.
In market, there are hundreds and thousands of fashion brands which are ready to replace if the brand fails. In today’s world, competition is extreme and customer loyalty is notoriously fickle.
Planning and executing these steps can help to make successful fashion business.
Keeping a close eye on trends
Every fashion trend has a life span. What may be in trend today may not be when you launch your collection. As a designer, planning a collection in advance and having a good idea of the trends is must, to shape the current fashion.
Design for your core audience
While designing the collection customers choice and taste should be the first concern as they decide what sells in market. Persona mapping is a technique used in marketing research that is very useful in figuring audience and their choice.
Expressing the creativity in collection is easy, but customer has to be willing to pay for the designs made by designers. A tight control on costs- materials, manufacturing, even marketing is essential to make profit.
It is very useful to sell the collection to right audience. It can be done by social-media or visually in stores or even by the words to the customers regarding the collections provide a good response while keeping marketing cost in control.
Presentation and selling
Visual merchandising-offline or online- determines a customer attractions towards the designs. Displaying them in boutiques or in online websites makes effort to attract the customer to take a closer look and feel.
Having a very good relations with best suppliers, and ensure they are happy to engage in business with you, will surely going to help to establish the brand’s consistency. Customers are the one who keeps the brand alive. Keeping them in touch and getting their feedback is very important. They are the one who bump up the business level by getting new customers.