How to Start a Fashion Brand
Do you have a passion for fashion? Have you ever dreamed of starting your own fashion brand and seeing your designs come to life on the runway or in stores? Starting a fashion brand can be an exciting and rewarding endeavor, but it also requires careful planning and execution. Here, we'll take you through the essential steps to turn your fashion dreams into a successful reality.
Phase 1: Business Strategy
Get clear on your vision & how to set yourself apart: Ask yourself what is your style? Who are you targeting? What will set your brand apart? Once you decide on these, they will help guide your designs, collection, marketing & brand identity.
Start researching the market: Before you begin, it’s integral to research the market. Identify your competition and figure out what they’re doing right and wrong, look at fashion trends and consumer interests & discover gaps in the market that you can fill with your fashion brand. This will help you decide what products to offer, the appropriate pricepoint & how to market to your audience.
Create a Business Plan: A well thought-out business plan is essential for any fashion brand and should include a description of your brand and its mission, financial projections; including startup costs and revenue forecasts, marketing & sales strategies & supply chain & production plans. This guides your brand’s growth and can attract investment.
Legal Considerations: You might consider whether you should register your business and choose the right legal structure, whether you will trademark your brand and logo to protect it from others & get familiar with local & federal regulations such as tax & employment laws.
Phase 2: Product Development
Start sourcing materials and production facilities: With factors such as cost, quality, ethics, sustainability and lead times, you have to find the right material and production partners. Establishing strong relationships with suppliers and manufacturers will help you be consistent and reliable with your collection.
Start designing and sampling: Next you have to work on your designs and start the sampling/prototyping process. This will refine the designs, the quality and the fit of the product if that is a factor with steps like ‘Grading’. It is highly recommended to work with experienced people in this step as it can be the make or break of getting it right.
Phase 3: Branding & Marketing
Begin with a visual brand identity: This involves designing a logo and all your visual assets. Typography, brand colours etc.
Next is your written brand identity: This involves developing an engaging brand story and message
Build a beautiful & easy to use website: Developing a user-friendly, engaging website & e-commerce
Get started with social media: Establishing your presence on the right social media platforms
Consider PR, collaborators and bloggers: Consider partnering with influential tastemakers & editors to spread the word about your product
Phase 4: Sales & Distribution
Figure out what your sales channels should be and build a strategy around this to suit your brand’s goals.
Options include: Selling through your own e-commerce website, working with brick-and-mortar retailers to sell your products through them , exploring wholesale and consignment arrangements or looking at signing up to trade shows and fashion events.
Phase 5: Financials
Financial Management: This is integral to your brand’s success and survival. Keep accurate records, track your expenses, keep an eye on cash flow and budget so you are able to adapt if things change.
Phase 6: Scaling & Growth
As your brand starts to see success, you will have to consider the right strategy for scaling & growth. You might add new products to the line, enter new markets or open new retail locations. Listen to your customers and keep an eye on market changes to stay relevant.
Starting a fashion brand is such an exciting journey, but it is not without it’s challenges. By sticking to these steps and staying committed, you turn a passion into a business. Nothing will provide overnight success, but staying dedicated with a strong strategy can help you stand out in the industry.
The world is waiting to see what you create!
There’s no harm in bringing in experts for the areas you may lack experience, so if you are looking to connect with the right fashion business consultant for starting your business, get in touch with us to book a discovery call. From the concept stage to production, branding, marketing, sales, strategy & more, our global experts have a breadth of experience in the industry we love & we are always happy to discuss your project.
