Creating a Clothing Label – Introduction
The fashion industry is competitive, so if you have decided you want to create your label and launch your clothing line, there are some start-up steps that you should take into consideration.
The first thing to remember is that starting a clothing brand takes a considerable amount of time and money to succeed.
Ensure that you are ready for hard work, commitment, and a considerable investment from the beginning.
Once you have committed to your start up, the following steps will help you create your label.
Come up with a ‘Must Have Item’
One great way to develop a label and get your brand up and running quickly is to develop a ‘must have’ item.
There have been several fashion designers who have done this. Once example is Diane von Furstenberg with her signature wrap dress.
Develop the Design
After you have the must have item or unique idea in mind, sketch out the idea and begin developing your design.
Make a Prototype
If you want to develop a brand, you will need a prototype of your designs to show potential buyers.
Keep in mind that these are not cheap, but it is necessary to your final goal.
Organise Your Business
An important step that you shouldn’t overlook is that your business is an entity of its own, which means you need to establish it legally.
You should also make important decisions regarding taxes, lawyers, and legal names.
Like many retail businesses, fashion is not heavily regulated, which means you don’t need a certificate or license to sell clothing.
With this unregulated environment, many designers can fall into the trap of not taking the business end of their line seriously.
Whenever possible, it is important to remain organised with your brand.
Establish a Pricing Model
In order for your business to be successful, you need to make a profit and to ensure that profit margin, the designer has to establish retail and wholesale rates are higher than expenses.
A base would be to earn a profit of 30-50% greater than your expenses.
Fund Your Business
You have quite a few options available to you for financing, including banks, investors, loans and credit cards.
The business plan you create will be the blueprint that you bring with you as a guide.
If at first you fail, open a small store or an e-commerce site and get your name out there and eventually, your label will get picked up.