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Permalink Reply by jony smith on November 3, 2010 at 2:27am
Permalink Reply by Fashion Business Designer™ on June 29, 2011 at 2:40pm Yes, George!
I agree with you! And besides those these are other challenges emerging fashion designers commonly face:
- PR-buyer dilemma. PR agencies usually don't want to work with starting designers that don't have stockists and haven't matured their relationships with manufacturers to develop quality products. Problem is that a lot of buyers won't buy if there was no hype supporting the emerging brand.
- Manufacture management. Loads of fashion designers graduates don't have a clue about how to deal with manufactures (and the same goes for manufacturers). Perhaps they haven't even been in a factory! This results in poor communication and loads of late deliveries (so putting at risk their fashion businesses and reputations).
- Stylist Inaccessibility. Even though fresh and creative designers attract stylists designers still have problems accessing them! This is a typical problem of designer's self-sufficiency.
- Retail relationship management. Most of the time designers don't know how to handle and effectively manage their relationships with retailers! Usually don't know how to educate retailers on how to sale their collections. And it's important to remember that sales end only when the goods have been sold by the retailer!!!
- Money, money, money to fund the pre-development of the collection (research, design and sampling) and for the development of the promotional material to start generating wholesale orders and, obviously to finance the collection's fabrics, manufacture and distribution (from the factory to buyers' facilities)! This is one of the main reasons why it is very difficult for the designer find business investors. But designers still have the supportive 4 F's (friends, family, bank and supplier funding!). I have talked about this in another of my posts.
- Wholesales orders. If designer doesn't gets enough wholesale orders he/she will be forced to pay premium prices at fabric and manufacture levels! This hugely impacts his/her final wholesale prices, even putting at risk his/her fashion business.
- Cash flow management. This is THE fashion business assassin. Because of the nature of the industry (production cycles) a new fashion business could be running without receiving any money even for a year (from business set up to sampling to wholesale to sourcing to manufacture to distribution to promotion to sold at store....!!!).
But there's no time for despair because for each challenge there are hundreds of business opportunities that await to be uncovered by the fashion designer that compensate the bad and the ugly, and different ways for securing money.
Rod

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