Fashion Advisor

Replies to This Discussion

Permalink Reply by Donnella Tilery on August 9, 2010 at 10:02pm

Hi Long,

Before you begin finding an investor you should understand what type of investors there are and what type you'd like to have for your company. Many designers don't realize fashion is an extremely risky business for an investor to even consider.

many will want to know where and how much of your line you are selling right off the bat. You need to know your sales projections. reality noone is concerned about the next big thing only that its sellable.

the hard fact is they really dont' care how creative you are they want to know what the return on investment is and when they get it back. Many designers don't realize this and don't know why they can't find one.

here'sa basic idea of what they are, when I do classes to designers:

There are typically two types

Venture Captialist -
pretty much will take over 45-60% of your company. they only invest and exit they work as a 3 year plan. they don't want to stay with you long term. they want to make a higher percentange of what they put in company.

Angel Investors - basically someone that believes in your dream and realizes they won't get any money back. they don't care if you succeed or fail really. Its typically a relative or friend or associate.

Permalink Reply by Donnella Tilery on August 9, 2010 at 10:07pm

So now I will comment on fashion show query:

I am the founder of NJFW and designers also hire me to produce their fashion shows and trunk shows.
so i hope you find this helpful and not critical! (http://newjerseyfashionweek.com) (www.shopdonnella.com)

I'd recommend as you are pretty new to do a trunk show/sample sale first.

you need to test your line and get an idea of how people view your line.

fashion shows are great,fabulous and fun but they also cost a lot of money, especially since you are a new designer. the purpose of shows and event that people forget is to get people buy and know your line.

are you connected to any buyers? or are you just doing a show to promote your brand. before you do anything be clear on the purpose . you sound pretty aggressive working on spring 2012. how much of your other lines have you sold. what is the purpose of you designing all these clothes/.

put your business cap on not just your designer cap. remember christian lecroix was known by everyone and was bankrupt.

Permalink Reply by Donnella Tilery on August 9, 2010 at 10:12pm

advertising & networking

I'd set up your social media precense first. its cheap or free and you can get people right away.

facebook fanpage (not a personal page)
linkedin
my space
twitter
constant contact or icontact

forget using these for fun, use these to build your marketing list and followers. so when you do a show people will have people to advertise to come to your event. keep this professional only.

also start signing up and connecting with fashion sites like this under your brand.
also start going to fashion shows and market weeks so you not only see how you stack up but competition.
also get business cards and a good website. also a blog use wordpress for free.

also look for sites like senseoffashion.com one of my favorites to find designers for my showroom.

remember a smart entrepreneur saves money. save flash when you start selling lines and can quit your day job.
if you have a day job its a hobby. make it your career and life!

also work on your business map. map out your business in writing for 3 years.
each month track your progress.
2010 - my goal do a trunk show, get 100 people to attend, get 3 orders
2011 - do a fashion show, get 200 people to attend get my line ordered by dept store

good luck!

also have a spread sheet of expenses