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How to write a fashion business plan
A successful plan will lay the groundwork for transforming an idea into a functional business, and help get investors on board.
What do fashion giants on Fifth Avenue and budding designers working in basements have in common? Before they started manufacturing dresses and hiring app developers, they all had a business plan. Perhaps you want to turn your creative vision into a fashion label. Or you’re ready to disrupt the old guard with a game-changing startup. But you have to start with a plan.
“The business plan should come before your designs,” says Hillary France, founder and chief executive of Brand Assembly , an organisation that helps emerging designers build their businesses. For fashion startups with resource constraints, a plan helps crystallise what, how and to whom you’re selling; establishes what makes you unique; identifies your competitors; and most importantly, shows that you can make money.
Research the market
For creative types, writing a business plan can feel a little overwhelming. But business courses and access to market research and competitive analysis are available. Aspiring fashion executives based in New York, for example, can apply for one of the 25 spots in the FIT Design Entrepreneurs annual programme. Market research firms like Euromonitor and NPD also regularly release reports about market trends and growth rates. While these can cost over $1,000, excerpts are readily available.
It can also be helpful to consult blogs written by venture capitalists like Fred Wilson and Brad Feld for advice on writing a business plan, says Sutian Dong, a partner at Female Founders Fund , which has invested in Rent The Runway and Eloquii . Not only do these provide general advice, but they’re also a window into how successful investors think.
But not all research can be done behind a screen. “It’s about doing the legwork,” says Haeni Kim, founder of direct-to-consumer womenswear label Kitri . Kim thought she had a niche as a “bridge between high street and contemporary”, so she visited bricks-and-mortar shops to gather data and experiences from sales associates to confirm her hypothesis. Kaelen Haworth, the designer behind direct-to-consumer womenswear brand Second Sight , cold-emailed designers who found success in a similar space for advice and found that they were happy to help.
Use family and friends
When raising funds for a business, don’t forget that everyone consumes fashion. “Using people around you is very helpful and very eye-opening,” says Kim, who polled her friends and family via Survey Monkey to develop her deck of consumer insights.
That’s also the case when doing the actual work of plugging numbers into a business plan. Haworth suggests recruiting a friendly MBA student, either as a favour or for a minimal fee, to help create financial spreadsheets. “I’m much more visual, so for me to plug in a number — like, ‘I make 25 of this, what happens to my potential for profit?’ — is hugely helpful,” she explains.
But fashion is ultimately a visual business, and the plan could then lead to a prettier, summarised “pitch deck”, which is used to present the business plan to investors when asking for funding . The pitch deck can also be used to solicit advisory board members, who can use their experience to test a design vision against reality. J eanette Nostra , executive-in-residence at FIT’s Design Entrepreneurs programme, suggests pulling together an advisory board, which could consist of designer mentors, past professors and friends and contacts with experience in law and finance.
All of this requires patience. Kim and Haworth both estimate that putting their numbers and business plans together took around a year before launching their brands. Here’s a template, which should be organic and fit your business.
This section covers the “elevator pitch” for your unique idea as well as a one-sentence mission statement. Summarise your brand and explain what differentiates it. Also, quickly outline your target market, target revenue goals and timeframe. The executive summary should be written last — after all the numbers have been run. It should be no longer than two paragraphs.
Here is where a brand presents its founders’ relevant experience: education, past jobs and unique skills. Also include the form of business entity , based on your location, and list any appropriate partners. Detail your product specifications and manufacturing process. Plus, include how often you will fulfil orders and where/how you plan on distributing and selling. Finally, list the significant challenges you anticipate facing.
This is a chance to show off meticulous market research: identify and detail the opportunity and size of your specific market, your competitors and your target customers.
Manufacturing process and operations
Determine and identify manufacturers and suppliers required to produce your line and detail the costs. Remember to include the costs of samples and account for currency fluctuation if suppliers and manufacturers are based overseas.
Marketing and distribution
Lay out what channels (wholesale, department stores, boutiques, direct-to-consumer) you will use to sell your product while detailing the launch timeline and marketing efforts. If you plan on hiring a showroom or distributor, explain that relationship and costs. Also, how will you scale the brand?
Whether calculated via Excel, Quickbooks or another number-crunching format, this section is crowned by the income statement, which lays out your revenues, expenses and profits and losses over a specific period. Also, present your three-year sales projection to illustrate annual growth plans and a cash flow statement to break down liquidity and assess funding needs for the future. Lastly, include a sheet detailing initial startup costs.
Fashion Business Manual by Fashionary: A visual, step-by-step guide to launching and scaling a fashion label.
Blue Ocean Strategy by W. Chan Kim and Renée A. Mauborgne: Instead of battling your competitors, the authors describe how to identify and tap whole new areas for growth.
Employees First, Customers Second by Vineet Nayar: As a creative, Rokh designer Rok Hwang says this book was “essential” for understanding how to build and manage his business.
Lead image by Sandra Semburg.
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BY Vogue Business
Jan 06, 2022
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How to Start a Clothing Line: The Ultimate 12-Step Guide
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .
Maybe you’ve been sketching designs since you were a kid, have been making your own award-winning Halloween costumes for decades, and have already sold out of the custom T-shirts you’re making out of your garage. Or maybe you’re just intensely entrepreneurial (and obsessed with style) and want a piece of the trillion-plus dollars floating around the retail industry. Regardless of your drive, knowing how to start a clothing line is very different from just wanting to start a clothing line.
Luckily, many scrappy clothing entrepreneurs before you have launched their lines to great success, and they’re willing to share their tips with you.
We’ve interviewed a few of those business owners to put together this guide on how to start your own clothing line, from product idea generation to funding your business through a small-business loan (and some words of much-needed wisdom to power you through your pursuit).
How to start a clothing line
With the competition, complexities and even intimidation associated with the fashion industry, you may be concerned that as an entrepreneur with no experience, you won't be able to start our own clothing line.
When it comes down to it, however, unlike, say, becoming a doctor, starting a clothing line doesn’t necessarily require special training or a degree. In fact, most of the designers we spoke with had no formal experience in the fashion industry before starting their businesses.
That said, you do need to completely dedicate your time and energy into launching your clothing brand.
Bianca Dabney is the founder of BIDA, a sustainable, minimalistic streetwear line. Her modeling and acting career instilled in her a love for the fashion industry and an understanding of how garments are presented and marketed. Still, she says:
"The most challenging part of starting my own business was actually gaining the confidence and self-assurance that I could and should start it."
Like many of us, Dabney knew college was the clear path laid out before her. "I was raised thinking that going to school and working a corporate job was really the only option, and I was nervous to finally let go of that mentality and see that there were other paths," she says.
She founded her business without any formal training and used her experiences working as an actress and model in the industry instead:
"I’m also a self-taught designer, so finding the resources to create the brand was rewarding yet challenging. Self-motivation, determination and my passion helped me to become an expert in my field."
Like Dabney, you might find that the hardest part of the process, at least psychologically, is committing yourself to actually starting your clothing line. But if you understand that the process will require long hours, impeccable organizational skills and a potentially steep learning curve, you’re fully capable of teaching yourself how to do it — no fashion MFA required.
1. Write a business plan
It’s always useful to write and implement a business plan at the start of your venture. This plan will act as a roadmap outlining how you’ll reach your goals over the next couple of years. But also know that your business plan isn’t necessarily set in stone.
“Before launching BIDA, I created a business plan that included brand, sales strategy and marketing elements,” Dabney says.
“However, I’ve had to make changes and adjustments based on my customers and the environment. Running a business is an ongoing evolution. It’s important to have a clear plan of action, but it’s equally important to be flexible and be able to adapt.”
That adaptability is especially important in the retail business, which undergoes trend changes all the time.
“It’s both a very exciting time in fashion and a very unpredictable time,” says Ariel Mehrban, founder of True Vision LA, a streetwear clothing line based in Los Angeles.
“The market is seeing new influences every day, and there are always new technologies and new ways for customers to find products. I don’t think anyone knows where it will settle, or if it will ever stabilize. All in all, I think the best strategy for a fashion startup is to stay nimble and adaptable.”
As Mehrban suggests, the constant turnover in the fashion industry can be both a blessing and a curse — and keeping up with the market might mean tweaking your original plan. But having the strong foundation of a business plan can make navigating those changes feel a lot less overwhelming.
2. Find your niche
After you've created your business plan, the next step to learning how to start a clothing line will be to find your niche in the market and in the industry.
Generally, the most successful businesses identify a problem within the market and then design a product expressly to fix that problem. This being said, you don’t necessarily need to dive too deeply into researching the market at this stage. It’s likely that an idea for a unique clothing item will reveal itself as you’re living your everyday life.
Jordan Sack is the founder and CEO of Tillinger, a technical apparel line that specializes in men’s golf-inspired shirts. The idea for his streamlined, sweat-wicking shirts arose when he was interning in Manhattan one summer after college:
“I looked forward to summer Fridays because I finally got to wear short sleeves — but that was still your typical, thick, cotton knit polo shirt. And on the weekends, I would always play golf with my friends and loved wearing the uniform of technical performance polo shirts. But you couldn't really wear those to work because they were brightly colored, heavily logoed and just plain ugly. The idea for creating my own golf shirts didn't arise as an ‘aha!’ moment, but I gradually became more and more interested in making an everyday, work-appropriate polo that had the properties of your typical golf shirt.”
Here’s another approach: If you’re intent upon designing something but you don’t quite know what that “something” is, start by identifying the audience you’d be passionate about serving — whether that’s your peers or a demographic that’s currently underserved in mainstream retail — and think about what they need from their clothing.
For example, Sherri Dombi is the founder of Bee Yourself Apparel, an adaptive clothing line whose design features allow elderly folks to easily dress themselves.
“First you need to have a passion for what you are doing,” Dombi says. “Mine was helping a friend’s dad dress like he used to but allow him to dress independently.”
3. Understand your market
Once you’ve hit upon your business idea, now you need to truly understand the consumer you’re designing for. Your designs, fabric choices, sourcing and production budget and retail outlets all have to cater to your target demographic’s spending behaviors, lifestyle and aesthetic preferences — so don’t get started on any of the above before diving deep into understanding your base.
Part of that research should involve competitor research: studying the companies whose product, marketing and branding strategies you admire, and whose target demographics you share.
“The first step is really to just absorb information,” says Mehrban.
“You need to learn everything that your would-be competitors already know. Part of that time should be spent studying how they are engaging with their customers. What is the value they are offering their customers? It’s usually something much deeper than the garments themselves.
Luckily, this research doesn’t necessarily need to involve special skills or resources: If you have an internet connection and social media profiles, you can garner valuable information about your customers and how to design toward and market your product to them.
“The great thing about our time is that we have access to almost the entire world with social media and various web-based platforms,” says Mehrban.
“If you’re passionate about design, chances are you have a product that people will appreciate. The tough part is finding those people. I don’t subscribe to the ‘build it and they will come’ myth. The short answer? Scour the web. Find the areas that your customers frequent and get your product in front of them.”
Dabney echoes the value of using social media and basic analytic tools to define your audience’s behaviors and needs:
“To pin down my target demographic and their spending behaviors, I executed a pre-launch campaign, which I then analyzed through Google Analytics. Online marketing, such as Facebook and Instagram ads, allows for target demographic analysis, too.”
In addition to their aesthetic preferences and lifestyle, you’ll want to understand how and where your audience spends on clothing, too. That way, you can plan whether to open a brick-and-mortar store, sell on an e-commerce platform, or both. Even if that physical location is a two- or three-year goal, incorporate plans for its launch in your initial business plan.
» MORE: How to start an online boutique
4. Register your clothing business
Now that you've done the necessary background research about your product, target demographic and even startup costs, you'll want to take care of the appropriate paperwork before diving into the actual production of your clothing line.
To this end, there are a handful of tasks you'll want to accomplish:
Choose a business entity type: First, you'll want to select your business entity type — sole proprietorship, LLC, S corp, etc. There are pros and cons to every type, so you'll want to think about which best suits your plans and goals. If you're planning on starting small, you might opt for a sole proprietorship and then create an LLC or corporation at a later time.
Register your business: Depending on the entity type you choose, you may have to officially register your business with the state where you'll be operating. Even if you're not required to register with the state, you might decide to file a DBA, or doing business as, to officially register your chosen business name.
Get business licenses and permits: At the very least, you'll likely need a general business operating license to officially start your clothing line business. If you're going to be operating from your home and starting your clothing line online, you may need specific permits — like a sales tax license and home occupation permit — as well. You'll want to consult your state and local governing agency to ensure that you have all of the proper licenses and permits.
Get an employer identification number: Part of starting a clothing line, or any business for that matter, is registering for and paying business taxes. Therefore, you'll want to apply for an EIN with the IRS. Although an EIN isn't required for all businesses, getting one can help you file your taxes, open for a business bank account , as well as access business financing.
5. Design and source the clothes for your line
After you've gone through all of the steps necessary to make your business official, it's time to get into the meat of learning how to start a clothing line: designing your clothing and sourcing your material.
This can be the most challenging part of the process for many entrepreneurs starting a clothing line, especially those who haven’t worked in the fashion industry before. Here’s how the designers we interviewed went about the process.
Finding the right materials
You might have a clear idea of what kinds of materials you want to create your products with, or you might need to do some exploring first.
Before formulating his polo shirts’ polyester-and-lycra blend, Tillinger’s Jordan Sack conducted his own, self-directed research into the production process:
“I bought a lot of competitor golf shirts and studied the materials they used. Then, I reached out to old friends who worked in the industry and bought them dinner in exchange for their time. It was a lot of serendipitous moments all coming together. One friend led me to a pattern maker, who led me to a grader/marker who knew a cutter. The friend also had a connection to a sample factory in the Garment District. It was pretty scrappy. There's not an easy-to-follow online tutorial. You just have to be resourceful.”
And then, of course, there’s the cost question. A major challenge every designer will face is reconciling the cost and the quality of your materials, though Mehrban says that this decision will be highly individual to every designer’s budget and values.
For their part, Mehrban says, “We’ve found that compromising on quality just doesn’t work. Cost-cutting is an important part of any business model, but we don’t ever work with inferior manufacturers or materials. If we can find something better, that’s what we’ll use.”
Erum Ilyas, the founder of AmberNoon, also decided to leave extra room in her budget to ensure that she was manufacturing her clothing with the most effective textiles available and, as a result, pricing her clothing higher than expected.
That was especially important because AmberNoon’s unique value proposition depends on the quality of its sun-protective materials — Ilyas is a board-certified dermatologist who has run her own practice for a decade. Despite comprehensive public knowledge about skin cancer prevention, it’s still the most common type of cancer today. That inspired her to launch her line of sun-protective clothing that women can wear every day.
“Given the quality of the textiles, the design elements and low minimum order quantities I started with, I do have a higher price point than I would like long term,” Ilyas says. “After all, I want to make sure anyone can access this amazing product for their benefit.”
Depending on your particular goals and mission for your clothing line, you might also find that it’s worth sacrificing your target price-point in favor of lasting, quality materials. When you’re first rolling out your line, you especially want your product to impress your consumer as the best quality product possible.
6. Partner with a manufacturer
Finding the right manufacturer to produce your clothing is crucial to bringing your vision and goal for your brand to life. After all, if you don’t have a reliable manufacturer, your clothing line can’t exist at all.
“You can have a great idea, great concept — covered all of your bases,” says Ilyas. “But if your manufacturer can’t produce to your specifications, and maintain the quality and stay true to your concept, then your message is just lost.”
When seeking a manufacturer, consider factors like your manufacturer’s minimum order quantity, cost, quality and trustworthiness. You might also want to find a manufacturer with in-house pattern makers to streamline your processes.
“The manufacturer I’ve partnered with is a local Bali factory, which specializes in knit and stretch production,” Dabney says. “The factory provides services in development, pattern making and production, so all the elements are under one roof, which is important for quality control.”
To cut down on costs and to maintain your product's affordability, you might consider exporting your manufacturing processes overseas, as Dabney did. Whether you produce your clothing domestically or abroad, it’s worth taking a hands-on approach to searching for your materials and manufacturers.
“There was plenty of trial and error, and we did lose a decent amount of money trying to find the right partners,” Mehrban says about tracking down the right manufacturers to produce True Vision LA’s clothes.
“It’s very hard to tell how a garment will fit, or to guess the hand feel based on a picture. We made the mistake of relying on photo representations before placing wholesale orders initially, and it cost us. One thing I’ve found is that the integrity of the product tends to match the integrity level of the manufacturer, and when that’s missing, you run into problems. It’s very important to work with partners that have the same ideals as you do.”
And don’t feel pressured to produce a full, 10-plus clothing line right from the start, especially if you’re feeling the strain on your budget (or your sanity) — Donna Karan, for one, built her eponymous label off her now-classic “Seven Easy Pieces” collection. So, start by perfecting just a few items, gauge how your market responds, and build up your brand from there.
7. Price your products
To this end, before you can actually launch your clothing line, you'll need to price your products. Once you've found your materials and manufacture, you'll have a better sense of how much it costs to start your clothing line, and therefore, you can price your items accordingly.
With your pricing, you'll want to strike a balance between making a profit and setting a price that customers are willing to pay. This being said, your market research will come into play with pricing — you already should have a sense of who your demographic is, what their spending habits look like and how much they'd be willing to spend on your items.
Of course, you're not married to any initial pricing you choose — just like the items you decide to create, you can always decide to edit or change your pricing as you launch your clothing line.
8. Decide where to sell your clothing line
After you've created your clothing line and decided on a pricing strategy, you're ready to actually start selling. However, before you can launch your line, you need to determine where you're going to be selling.
As we mentioned above, this is something you should have thought about as part of your business plan and research — and now it's time to execute.
Therefore, if you think that starting your clothing online is the best avenue, you'll want to set up the platform to launch your products and your brand. You'll likely want to start by creating your own e-commerce website, as well as social media accounts.
Once you've launched your clothing line, you might decide to diversify your sales channels by actually selling your clothing through your social media channels, or even joining a marketplace like Amazon, eBay or Etsy .
Overall, selling your clothing line online will be much more affordable and manageable than creating your own brick-and-mortar store. Again, if you find success selling online, you might later decide to launch a physical location, or even consider selling your line to larger resellers, like department stores.
In any case, when you first start online, you'll want to choose an e-commerce platform to create and manage your store. You'll want to look for platforms with creative templates — as the design of your online store will be important to customers and to your brand.
You'll also want to look for platforms that can accommodate product variations — in other words, the same piece in multiple sizes or colors — so that you can list your clothing line the way you want. To this end, some top platforms you might consider are Shopify, BigCommerce or WooCommerce.
9. Market your clothing line
After you've set up where you're going to sell your clothing line — whether your own online store, a marketplace or somewhere else, you'll need to actually get eyes on your products.
To this end, without a plan to publicize your product, all the work you’ve done tracking down your producers will be for naught. And if you’re not a natural marketer, know that this is a skill you’ll need to nail in order to keep your clothing line’s doors open (either physically or digitally) — as Mehrban says, “Building a fashion startup is four parts sales and marketing to one part design.”
You don’t need a huge marketing budget or even previous business marketing experience to effectively spotlight your brand; in fact, many entrepreneurs simply use their (free) social media accounts as their main marketing channels. Other than their low cost, platforms like Instagram and Facebook allow for greater transparency and connection with your customer base, which modern consumers value.
“From the very beginning of the process, I did my best to document my journey of starting a company,” Sack says. “That was pretty much my content strategy. I didn't have this huge, creative marketing department. If I was going to pick out buttons, I would take a picture and put it up on Instagram and share that button story for the day.”
Beyond leveraging social media, there are tons of free marketing ideas you can implement to disseminate your brand. The key is consistency and cohesion; ensure that every piece of marketing material or campaign aligns with your brand’s voice, aesthetic, and goals. A disjointed branding strategy is confusing for your customer base, which doesn’t bode well for loyalty — which is key for turning leads into sales over the long term.
Also know that, even if you’ve started your clothing line with a clear understanding of how to market to your customers, customers are fickle. So don’t stop communicating with your customers once your initial research is through. Pay special attention to their aesthetic and buying preferences and adapt your marketing materials and product to suit.
“We started out with a clear vision of the design and branding,” says Mehrban.
“We knew we wanted to sell ‘highly wearable’ clothing, or others may call staples. The challenge was — and in my opinion will forever be — finding what motivates customers to buy. All brands grapple with motivating customers, and it’s something that never ends, even for the most established brands. Once you’ve discovered your segments, you’ll have to continue researching them. Their motivations will change with time, and even the demographics of those segments may change. What worked last season won’t necessarily work this season. The brands that survive are the ones prepared to adapt to highly volatile environment.”
10. Work with an expert
Although your clothing line idea may have been purely your own, you can’t be expected to fully launch your business without some help here and there. This is especially true if you don’t have experience in the fashion industry. Tapping an expert or a community of fellow fashion entrepreneurs may spell the difference between the success and failure of your startup.
Marianna Sachse is the founder of Jackalo, a line of durable and sustainable children’s wear. She didn’t have any design experience, but hiring a consultant and joining StartUp Fashion, an online community of independent designers, armed her with the information and support she needed to get her company off the ground:
“For new designers, I'd highly recommend surrounding yourself with experts. I found a consultant who had worked with majorly successful brands through a design friend, and I did an intensive four-week jumpstart program to get a sense of the competition and what my brand positioning would be. And StartUp Fashion helped me ensure that I had all the materials I needed to effectively communicate with factories, and connected me with a community of fashion entrepreneurs who are a fabulous resource.”
However, don’t simply settle for a mentor just because they have extensive experience in the industry. As is the case with any other individual you let in on an important aspect of your life — whether it’s your significant other, your business lawyer or your business mentor — do a gut check before heeding your consultant’s advice.
“If you don't have a willing friend in the industry who can help,” says Sack, “I'd recommend a consultant, but it’s super important to be able to trust him or her. I've made that mistake. Go with your gut. If it doesn't feel right, it isn't.”
Sachse, too, warns that some consultants claim to be more experienced than they truly are. You’ll find the most trustworthy consultants via word-of-mouth, so start your search by scouring your network (LinkedIn is a great resource for this).
11. Figure out how to manage your finances
You took the first step to managing your finances when you registered your business for an EIN. However, as you've launched your clothing line and started actually getting into the day-to-day of running a business, there are a few other steps that are essential to properly managing your finances and setting up your business for success.
This being said, you'll want to consider the following:
Open a business bank account: Even if you started your clothing line as a sole proprietor, having a dedicated business checkin g account is important. Opening an account specific to your business will help you separate your business and personal finances — saving you from potential bookkeeping, tax and legal headaches in the future. Plus, like applying for an EIN, having a business bank account will help you when you apply for financing for your clothing business.
Get a business credit card: With all of the startup costs associated with starting a clothing line, a business credit card can be particularly useful — not only as a way to finance your operations, but also to help you start building credit, as well as benefiting from any rewards the card offers. For a credit card that can immediately put money back into your business, you'll want to consider the best cash-back business credit cards.
Set up your accounting: In order to manage your suppliers, manufactures, sales and any costs associated with starting your clothing line, you'll want to set up an accounting system to manage everything in one place. There are a variety of accounting software options on the market.
12. Get funding for your clothing line
Getting your finances situated will help you with the final step in this how to start a clothing line guide — finding financing.
Like most entrepreneurs in any industry, the clothing designers we interviewed mostly bootstrapped, or self-financed, their ventures, using a combination of their own savings and contributions from friends and family. That makes sense, as securing a business loan as a very young startup — without the necessary evidence of a financial track history to show your lenders — can be very difficult.
Other than bootstrapping, there are a few other options for financing a startup you can explore to help you launch your clothing line. Crowdfunding can be a surprisingly lucrative way to raise funds at the very start of your venture; plus, crowdfunding can double as a method of vetting your market and gauging customer interest in your product.
It’s unlikely that you can fund 100% of your operational costs purely through Kickstarter, Indiegogo or a similar platform. You might also consider seeking equity financing, such as an angel investor or even a private equity firm.
These investors will contribute large amounts of cash to help promising startups get off the ground, in exchange for a stake in the business. But only approach private investors if you’re okay with sacrificing a portion of your business’s control.
Frequently asked questions
1. how much does it cost to start a clothing line.
Startup costs can vary greatly across different clothing lines, but in general, a small-sized clothing line will need a minimum of $500 to get started, a medium-sized line should have between $1,000 to $5,000 for startup costs and a large line will need approximately $25,000 to $50,000 upfront.
Before you start planning your clothing line, you'll want to estimate and anticipate startup costs like:
Product sourcing and material costs.
Designing and delivery costs.
Website and marketing costs (which may include product photography).
2. How much do clothing lines make a year?
The national average earnings for clothing line owners is approximately $51,000 per year. Clothing line profits can average between $23,751 and $140,935, depending on your location, line specifics, expenses, marketing efforts and company size.
3. Do you need to trademark a clothing line?
Although you do not have to legally trademark your clothing line, it is highly recommended. Trademarking your brand(s) can protect your creative work and products.
4. How do you source material for a clothing line?
You can choose to source your clothing line materials online via e-commerce fabric suppliers or in-person from a brick-and-mortar retailer. While online stores might offer more affordable prices or bulk discounts, visiting a store in-person will allow you to see, feel and fully experience the fabric before you commit.
The bottom line
Across the board, the entrepreneurs we interviewed said that patience, adaptability and dedication are crucial traits for learning how to start and run your own clothing line.
Whether you have experience starting your own small business or not, expect to overcome serious learning curves. Starting a clothing line from scratch isn’t always a walk in the park and it involves different challenges than other small businesses.
But if you’re unrelenting in your dedication, you’ll find no better satisfaction than seeing your customers live their lives in your creations — and doing it on your own terms.
“The most rewarding part of starting my own business is that I get to work with clothes I’m obsessed with every single day," Dabney says. "On top of that, I have the freedom to run my business how I like, so I know what I’m doing is a direct reflection of my vision. After starting my own business, I really can relate to the quote, ‘Choose a job you love, and you will never have to work a day in your life.’”
On a similar note...
Fashion Business Plan Template
Written by Dave Lavinsky
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their fashion businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a fashion business plan template step-by-step so you can create your plan today.
Download our Fashion Business Plan Template here
What Is a Business Plan?
A business plan provides a snapshot of your fashion business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a fashion business or grow your existing fashion business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your fashion business in order to improve your chances of success. Your fashion business plan is a living document that should be updated annually as your company grows and changes.
Source of Funding for Fashion Businesses
With regards to funding, the main sources of funding for a fashion business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a fashion business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a fashion business.
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How to write a business plan for a fashion business.
Your business plan should include 10 sections as follows:
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of fashion business you are operating and the status; for example, are you a startup, do you have a fashion business that you would like to grow, or are you operating a chain of fashion businesses.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the fashion business industry. Discuss the type of fashion business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of fashion business you are operating.
For example, you might operate one of the following types:
- Fast Fashion : this type of fashion business identifies current fashion trends and brings them to market quickly.
- Haute Couture : this type of fashion business offers high end fashion.
- Bespoke Tailoring : clothing designed for the customer as the result of a consultation.
In addition to explaining the type of fashion business you operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry analysis, you need to provide an overview of the fashion business. While this may seem unnecessary, it serves multiple purposes.
First, researching the fashion business industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards street fashion, it would be helpful to ensure your plan calls for a line of urban clothing.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your fashion business plan:
- How big is the fashion business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your fashion business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your fashion business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of fashion business you operate. Clearly baby boomers want different fashion items than teens.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other fashion businesses. Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes non-fashion oriented apparel and used apparel among others.
With regards to direct competition, you want to detail the other fashion businesses with which you compete.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What products do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide superior products?
- Will you provide products that your competitors don’t offer?
- Will you make it easier or faster for customers to acquire your products?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a fashion business plan, your marketing plan should include the following:
Product : in the product section, you should reiterate the type of fashion business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to clothing, will you offer items such as accessories, shoes, bags, etc.?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the items you offer and their prices.
Place : Place refers to the location of your fashion business and your distribution method. Document whether you will sell your fashion items yourself through a storefront and/or website. Likewise, document if you will sell your products via distributors and who you expect they will be.
Promotions : the final part of your fashion business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Making your fashion business’s storefront (if applicable) extra appealing to attract passing customers
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media advertising
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your fashion business such as serving customers, procuring inventory, keeping the store clean, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 10,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.
To demonstrate your fashion business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in the fashion business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in fashion businesses and/or successfully running retail and small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per day or 200? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your fashion business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a distributor approached you with a $100,000 order, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a fashion business:
- Location build-out including design fees, construction, etc.
- Cost of equipment like furniture, sewing machines, etc.
- Cost of maintaining an adequate supplies and inventory
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.
Fashion Business Plan Summary
Putting together a business plan for your fashion business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the fashion business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful fashion business.
Download Our Fashion Business Plan PDF
You can download our fashion business plan PDF here . This is a business plan template you can use in PDF format.
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Fashion Business Plan FAQs
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You can download our fashion business plan PDF template here . This is a business plan template you can use in PDF format.
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How to Start a Clothing Line Brand Step By Step 2023 Starting a clothing business can be simple with a good plan and idea. Discover how to start a clothing line step-by-step in this detailed guide.
By Haseeb Tariq • Apr 26, 2023 Originally published Sep 4, 2021
Opinions expressed by Entrepreneur contributors are their own.
Many entrepreneurs, business moguls, and pop stars have achieved great success by starting their own clothing lines. Good news: you don't have to be famous to reap the benefits of a clothing line business or eCommerce platform.
That said, there are a lot of ways in which launching a clothing line can go wrong. Read on for a step-by-step guide covering everything you need to know about starting a successful clothing line.
Understand your audience and competitors
To start a new clothing business , you first need to research what people want in your niche. What is your target market looking for? What styles and colors will be in demand this season? Where can these products be found currently (both online and offline)?
When starting a clothing small business, it is important to do some research. Work your way through the following questions:
- What are my competitors doing?
- Who am I targeting with my product and advertising strategies?
Understanding this information will help you define your fashion brand, choose the right clothing items/clothing manufacturer, and determine how to price your products for your potential customers. It may even help you choose your brand name!
Create a business plan for your clothing brand
You need to create a business plan that covers your financials, business model and marketing strategy. This will be the framework for everything you do in the future. It's important to have both short-term goals and long-term goals written out on paper so you can work towards them every day.
It's natural to want to start your business with a sole proprietorship. But it is worth considering an LLC or corporation to create long-term stability and avoid potential complications later on when it comes time to file taxes and open bank accounts, among other things.
Choose your niche or target audience
When beginning a clothing store, the most important decision is what niche your business should cover. Your brand can cover one or two different markets, such as clothes for certain seasons, like winter or swimsuits.
It can be more difficult to find success when designing for the entire spectrum of gender instead of just men or women. Narrowing down your target demographic or customer base will help you create a more focused brand identity and business model.
Plus, new business owners can pick clothing designs based on what's cost-effective (i.e., what makes sense given production costs) and what the clothing industry currently lacks. A successful business will make high-quality clothes that other fashion businesses don't yet provide to customers.
Analyze fashion trends
You'll also need to analyze current fashion trends so you can choose what clothes to provide. After all, your new clothing line won't be as successful if you offer fabrics and articles that aren't in style.
Take a long, hard look at current fashion trends and decide which trends you want to emulate. Market research about sales channels and profit margins will help you decide how and where to sell your products, and studying fashion designers' popular lines (anything from high-quality hoodies to cutting-edge jean styles) should influence new products from your own brand.
Related: 4 Industry Trends Every Fashion Designer Should Know
If you already have some experience in the fashion industry, you can even try to set your own trends or break out of the current boxes the industry is in. That could be one of the best ways to make your clothing line stand out from the competition.
Design your collection of clothing or accessories
Designing your first collection is daunting, but it doesn't have to be. You can start by sourcing and buying existing popular designs or creating a few original print designs for t-shirts. It's important to consider what customers want and how you will scale up the production of the design, if needed.
Find suppliers and manufacturers for your clothing line
It's not enough to have a business idea and some designs. It would be best if you had suppliers and manufacturers who can produce the clothing or accessories in your collection based on specific budgets, timelines, quantity requirements (minimums), quality specifications and more. A good place to look for clothing suppliers and manufacturers is Alibaba.
Related: She Created the Tinder for Clothing. Then a $30 Million Competitor Came Along.
Choose a name for your clothing line and create social media accounts.
It's time to get your clothing line off the ground. One of the first steps is choosing a name for your online store and creating social media accounts, such as Instagram and Tiktok pages, that can help promote products in your collection. These are ways you'll reach customers who may not know about what you're selling yet.
Social media is a great way to get your business name out there. You can also use it as an avenue for customer feedback, which will help you improve customer satisfaction and business operations.
Pick your price point for products.
Starting a clothing line can be difficult, and pricing your items is one of the most important choices you'll make to be successful. You will need to think about how your business will be profitable and what customers are willing to pay to purchase products from you.
There are various ways you can sell clothing, including online or at brick-and-mortar stores like department stores. Promotions and sales are common within the clothing retail industry, so be ready for them.
Reach out to creators, influencers and brands
It's important to build relationships with influencers and creators who have a large following and can be potential business partners. They can help you grow your business by giving their followers some insight into what it is like operating a clothing company or even mention your products on social media for exposure.
Related: Dany Garcia Wanted Clothing That's "Between Athleisure and Power Dressing," So She Launched A New Brand Called GSTQ
Understand how much you need in sales to stay afloat
It's important to know how much business you will need for your clothing company to stay afloat. After all, this is a business, and it needs to turn a profit at some point or else it won't be sustainable. Some retailers use customer lifetime value (CLV) as their metric for success.
The DTC subscription is another business model that could work, where customers sign up for recurring deliveries of products. You might already be buying things using the DTC model. Some of the more prominent DTC companies today include Casper, Dollar Shave Club, and The Honest Company.
Build your online storefront
To launch your clothing line, you'll need to have a place to showcase your products. That means building an eCommerce store for your new offerings, like starting your own business in any niche.
Use a free website builder like SquareSpace or Shopify, or alternatively, hire a web developer and web designer to make a stellar online clothing shop from scratch. You could even run a shop from a third-party eCommerce platform like Etsy.
The right choice will depend upon the startup costs you're comfortable with. Keep in mind that you'd rather spend money on graphic design, clothing fonts, screen printing, and the manufacturing process than on your website.
In any case, take plenty of great photos of your clothing line items so prospective purchasers can see your offerings in as much detail as possible. Having a great content marketing strategy with a clean website will help more than you think.
Related: 8 Ways to Get Your Online Store Making Money Fast
Begin with a soft launch
Soft launches are ideal for clothing business startups because they're low cost and allow you to see how your business will do before investing a lot of time or money. You can also use the feedback from customers and social media reactions, which could be positive or negative depending on what you produce.
Starting a clothing line can be challenging, but it's also rewarding. Successful entrepreneurs know that success in any industry is about more than just the product or service you offer. They understand their audience and competitors, formulate an actionable plan to achieve what they want to accomplish with their company, work hard on marketing themselves and their products effectively and keep learning from mistakes along the way.
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Free Clothing Retail Sample Business Plan
If you’re writing a business plan for your clothing retail business, it can be helpful to start by looking at a sample business plan to help you get a sense of what to include in each section. You’re in luck. Download Bplans’ free clothing retail sample business plan Word doc or PDF to help you create a business plan of your own.
Remember, finding a sample business plan that exactly matches your business isn’t necessary . The details your in your plan will be different based on whether you’re starting a high fashion boutique in a big city, or a neighborhood shop catering to weekend adventurers, for example. But either way, the bones of the plan will be the same, so you can use an example from any type of retail clothing business for inspiration.
Are you writing a business plan for your clothing shop because you’re seeking a loan? Is your primary concern building a clear roadmap for growth? Either way, you’re going to want to edit and customize it so it fits your particular company. Take the time to create your own financial forecasts and do enough market research so you have a solid plan for success.
What should you include in a clothing retail business plan?
Your clothing retail business plan doesn’t need to be hundreds of pages—keep it as short and concise as possible. You’ll probably want to include each of these sections: executive summary, company summary and funding needs, products, market analysis, strategy and implementation plan, management team, financial plan, and appendix.
Here’s an example of a clothing retail business plan outline .
Download and edit this free clothing and retail sample business plan PDF or Word doc now, or visit Bplans’ gallery of more than 550 sample business plans if you’re looking for more options.
There are plenty of reasons retailers can benefit from writing a business plan —you’ll need one if you’re seeking a loan or investment. Even if you’re not seeking funding, the process of thinking through every aspect of your business will help you make sure you’re not overlooking anything critical as you grow.
Kateri is a leader in innovative brand and content marketing. She’s committed to putting the best words in the right order to deliver high quality, discoverable, and useful tools and resources at scale. She enjoys exploring the intersection of tech, words, and the people to who drive small business culture.
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Fashion Business Plan Template [Updated 2023]
Fashion Business Plan Template
If you want to start your own Fashion Company or expand your current business, you need a business plan.
The following Fashion business plan template gives you the key elements to include in a winning business plan. In addition to this template, conducting research on the fashion industry will help you better understand the business, identify your target market and help implement a smart marketing plan and strong financial plan.
You can download our Fashion Business Plan Template (including a full, customizable financial model) to your computer here.
Below are links to each of the key sections of an example Fashion business plan template. This template can be used for a clothing business, fashion designers, a clothing line business plan and/or any type of fashion company business plans.
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan
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Fashion Business Plan Outline
- PRIVATE CONSULTANCY
- FREE SOURCING DOC
- LAUNCH MY CONSCIOUS LINE
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How to create a clothing line business plan - w/ template.
Before you can get started on your business plan… Have you set up your clothing line budget ? If not, check out this article. Once your budget is set, come back to here and get to work on your clothing line business plan.
But, before we get started
Have you heard about the super secret document that everyone in the fashion industry uses, but no one is talking about? Probably not. That is because you can't find it on Google or Instagram (believe me, I've tried).
It's a form I have used for over 13 years at every job I have ever had. Literally everyone from brands to fabric suppliers use it, but you can't find it anywhere publicly.
The best part? It can cut your sourcing time in half, and save you tons of money in product development ! This is the kind of info consultants charge the big bucks for. And, I'm giving it away for free until the end of the month.
So, get ready to make fashion startup life a whole lot easier, and GRAB YOUR FREE DOWNLOAD OF THE NOT-SO-SECRET SOURCING DOC HERE
What this article will cover:
- Executive summary
- Company overview
- Marketing strategies
- Sales strategy
- Competitive analysis
- Production plan
- Operation plan
- Financial analysis and projections
Now, Don't Skip This Step
A clothing line business plan is a crucial (and often forgotten step) that is needed for creating a clothing line. The plan will help you define and streamline both your long term and short term goals. It will also help you set a path to reach those goals. Not only does a business plan help you by setting a road map, but it also shows suppliers, investors, and other businesses that you are serious about your company by having a profitable plan of action.
As a bonus to this guide, I use my brand, virtue + vice, to give step by step examples, and show you how it's done. And, there's more, I have a free downloadable template to help you get started!
A Business Plan Is A Living Document
One of the most common mistakes I see founders making is that they will write their business plan, launch their product, and then never look at it again. Please don't do this. A clothing line business plan is a living document. You should use it to check in with yourself and make sure that you are meeting your goals. You can also make changes to it as your business changes.
As we all know, we can plan, and plan, and plan, but we can not plan for the chaos of life happening. So, as situations change, go back, update your plan, and re-strategize.
Keeping your business plan handy even after your launch will set you up for accountability and success.
Lastly, before we get started I am going to warn you. Making a clothing line is a lot of fun. But, it's also a lot of work, and (unfortunately) writing this business plan is the work portion of the job.
How To Write A Clothing Line Business Plan
Some business plans for fashion brands are extremely long, repetitive, and in my opinion kind of convoluted. They are a lot of words, that sound fancy and business-like, but are kind of just saying the same thing over and over. That is why I am keeping this short and brief. I have heard of people spending 6 months to a year working on a business plan. That is far too long. A month is enough - just keep it simple and don't get carried away with jargon and corporate speak.
So, let's get started.
Sections 1 + 2: Executive Summary and Company Overview
An executive summary and company overview are basically a recap of your overall business plan. While they are the first section of your clothing line business plan, you actually want to write them last. So, we will circle back at the end this guide.
But, what you can do is work on your companies mission, vission, and values.
Clothing Brand Mission Statement
Why are you starting this company? How will your company change the market place, or even the world?
Vision statements for fashion companies ask the question - What does success look like to you? Is it money? Or, is it positively impacting people's lives? How will you measure your success in the world?
What are your companies guiding principles. What values are at your core that determine and influence your business decisions?
Mission, Vision, Values Workbook Page
Section 3: product and services.
This section should include…
- A description of the product/ service
- Features and benefits
What is the product or service.
So, what is it that you are actually selling? And, how will you make money? In this section, you want to be clear about the type of product or service you are offering and how that will lead to profits.
My Service Offering For virtue + vice
virtue + vice is a consulting agency dedicated to helping companies clean up their supply chains. Target partnerships are existing and established brands with strong supply chains that need help creating transparency or sourcing ethical and sustainable components, as well as, startups who are focused on creating conscious products.
virtue + vice profits through consultancy fees paid by the customer. virtue + vice specializes in the following - sourcing, product development, production management, sustainable design, supply chain transparency, and ethical and sustainable storytelling.
To Recap Products + Services...
See, it's quick and easy. What am I selling? My consultancy services. How am I making money? Through consultancy fees.
What Are The Features + Benefits?
What are you offering that makes your company unique or special?
virtue + vice features and benefits
One key feature that separates virtue + vice from other consultancy firms is our sliding scale for pricing. Because we believe in our mission, virtue + vice pricing structure is on a sliding scale based on a companies profits. We choose to operate like this as a way to give back to small businesses, which we believe in, who might not have the finances to pay our full rates that larger corporations can afford.
Secondly, virtue + vice operates transparently with our customers. Our supplier is your supplier. Many consultancy firms keep their supplier contacts close to the vest and do not share, we welcome our clients to come and visit our partner factories in China and India, and work directly with them
Again, super quick and easy. What makes us different. One, we offer sliding scale prices to help small businesses (we aren't only about corporate life). Two, we work transparently without supply chain secretes like many other sourcing agents.
This section answers what happens when your company grows. Or how business people like to ask "how do you plan to scale".
How does virtue + vice plan to scale?
At about 20 clients, that is manageable for me as a solo-preneur. But what happens when I have 100 clients or more? How does my company grow?
As my company grows I plan on hiring support staff in three key areas. Product development, production, and storytelling. Product development employees will assist in taking our client's projects from initial inception, all the way through sourcing and sample development up until production. The product team member will be responsible for production, and shipping logistics of that production order. And, the storytelling team will assist our clients in telling the story of their products through photos and video for social media, copy, look books, line sheets, website design, etc.
I am actually excited to soon been announcing my first hire on the product development team (but more on that on the about us page.)
So, here I have made a plan for the future. What happens when it gets to be all too much for me alone? Who do I hire to help? I have chosen to separate tasks into three main categories that make the most natural sense for my business model.
Section 4: Marketing Strategy For Clothing Business
- Market analysis
- Target customer analysis
- And, your unique selling proposition that makes your product and business different from everyone else's
Do you understand the market that you are getting into? Like, do you really understand it?
This section of your clothing line business plan starts to get into proving that there is a need for your product or service. Even if something sounds great to you, if there are no customers that want it, then there won't be sales, and you won't have a successful clothing brand.
Here is how I break down my market analysis for virtue + vice
Sustainable and ethical fashion is a trend that has been growing year over year. In this article from Sourcing Journal they reported: "Overall, searches including sustainability-related keywords increased 75 percent year-on-year, amounting to 27,000 searches for sustainable fashion every month, according to the report."
This means that there is currently a sizable market share, that is growing rapidly for brands selling sustainable products to customers. And, those brands need help changing their traditional supply chain models to tap into the growing trend of sustainable fashion.
So, to recap.
What's the market doing, and how does my business play a part in that? Sustainable fashion is a proven growing trend, here is a little industry data to back that up. And, this is how my business plans to be part of that. Instead of choosing to sell direct to consumers, we are choosing to help brands that do.
Target Customer Analysis
Who is your target customer, who would want to buy your brand?
Here is who I target
virtue + vice plans to approach brands and companies that founder Melanie DiSalvo has been working with for the past decade. Because she already knows the ins and outs of their supply chains, she hopes to offer valuable changes and suggestions on targeted areas to help them become more ethical and sustainable.
Now, I understand that everyone does not have a built-in customer base like me. One of the most beneficial pieces of advice I can give is that you should go niche, and not broad.
To simply say "we are targeting people interested in making more sustainable and ethical purchases". Well, every big brand from H&M with their conscious collection to Walmart with their recycled t-shirts is doing that.
What makes you special? Pick something, one thing that makes your customers different. Maybe they are really into composting, so all of your materials are compostable. Maybe they are really into clean water, so your entire supply chain is dedicated to conserving water resources.
Again, I am saying this again, because it is so, so, so important. You can't be everything to everyone. Choose something laser-focused, and then as your brand grows you can expand into other areas.
How Are You Unique?
Did you see what I did there? By choosing a very niche target customer, you have already made yourself unique, and you stand out from the crowd.
How is virtue + vice unique?
virtue + vice is unique because of founder Melanie DiSalvo's extensive time spent living and working in countries like China, India, Taiwan, the Philippines, and the Dominican Republic. She has spent over 1/2 of her career working overseas and that offers her a unique and detailed first-hand perspective on how the fashion industry really works and the best ways to implement change quickly and effectively.
My tips for this section.
Don't be afraid to get a little braggy. Why does your customer want to buy from you? What makes your product so great that it's better than what is already out there on the market. Don't hold back.
Section 5: Sales Strategy
This section should include...
- Investments into sales
What are your sales goals per quarter? For the year? The next 2-5 years? What is your pricing strategy? How will you sell? Do you have an online clothing store? Do you have plans to hire support staff for sales, as a showroom, salesperson, or go to trade shows? Will you open a boutique? Will there be promotional campaigns to support sales like partnerships, advertising, fashion shows, and events, etc.
How much, and how often do you need to sell to turn a profit? At what rate do you plan to grow?
This is what I have in place for virtue + vice
I am uncomfortable sharing that. Here is what I will tell you. My consultancy business is strong enough that I am able to offer all of this information that some other companies charge hundreds or even thousands of dollars for, for free.
My business is healthy enough that I am able to give back to the fashion community at this time.
Are you going to try and sell tons of product at a low price, or fewer units at a higher price? Do you plan to drive sales through special discount promotions?
As I mentioned earlier virtue + vice works on a sliding scale so we are able to help smaller brands build their businesses.
How Will You Sell?
Are you direct to consumers, selling online? Are you business to business? Will you wholesale, will you have a distributor? What is your plan and break down?
At the moment virtue + vice relies mostly on word of mouth and referrals.
Do you need to hire support staff? What does that staff need to do their job? Can you sell on your own, or do you need help from a pro? For example, if you hire a showroom, not only will you have the monthly cost of the showroom, plus a cut of sales that the sales agent will take. But, you will also have fees to be in the showrooms booth at trade shows. Maybe at the tradeshows, you will need some special promotional items like look books, line sheets, or even a giveaway so buyers remember you.
It Costs Money To Make Money
All of the costs associated with sales, need to go back into your price strategy. Price strategy is like a balancing act. You need to invest in it, but you need to make sure that your sales are more than the investment so that you can be profitable.
This is the hard part
This part of your clothing line business plan should probably take the most time, Really research what everything costs, what your product will cost to make, etc and come up with a well-researched plan.
How I invest in my sales
At virtue + vice I do everything myself. But, people reading this that want to sell a service like me, it's important to remember that your own personal time costs something. While it's not a salary, or an actual expense, the hours that you devote to generating sales for your company should be compensated for.
Section 6: Competitive Analysis
- SWOT analysis
How Do You Compare To The Competition?
This is where you get a little stalkerish. In this section, you need to identify your competition and then the advantages and disadvantages of your competitors. You will need to research things like how long they have been in business, their annual sales (if they are public). How they market themselves. Then compare your price, quality, and general vibe to theirs. Maybe you are selling the exact same thing but have a totally different target customer and vibe you are putting out.
One of the best ways to get you started is through a SWOT analysis.
Ok, so let's get to it with virtue + vice
Who is my main competition?
I just did a quick google search of keywords that I thought my compeators would rank for. And, let's call my top three competitors A, B, and C. Luckily I do not know any of these companies or people personally. So, I don't have to hold back in this analysis.
Before we dive into the SWOT analysis, here is a little info about each company.
Focuses on scaling small businesses.
The website was launched in August of 2018.
And, the founder just so happens to have no information about her experience. But a quick google and Linkedin search shows her background is in marketing for telecommunication companies. Good for them with SEO, but they don't have any real experience in the industry.
Dubs themselves as a strategic advisory for fashion and apparel brands. Offering a full range of different services.
The founder started her sustainable and ethical fashion consultancy business over 8 years ago with 20 years of fashion industry experience. And, has worked with many small, yet well known sustainable fashion brands.
A many different hats consultant that can help brands with things from marketing, so supply chain, to design.
The founder has over 20 years of design experience working with some seriously well known household names that do not have a focus on sustainability.
Competition is a good thing
A lot of times when people start their SWOT analysis they see other people doing what they want to do and they give up.
Don't do that. Competition is good.
Two of these ladies have been in the clothing business for over 10 years working in sustainable fashion consulting. That means it's a good market to be in. They have been making living out of sustainable consulting for a decade. So, business must be good!
Think about fashion in general. There are so many brands, like super successful American Eagle, which was basically just a knock of Abercrombie back in 2003. Don't' let competition discourage you.
The point of SWOT is to figure out your advantages and how to position your brand in the market.
I am working on writing a full SWOT and fashion business competition analysis post, that will be coming soon. For now, I will just quickly go through one example. For this article, I have chosen Company B because their business most closely resembles mine.
How To SWOT
SWOT stands for strengths, opportunities, weaknesses, threats.
Like I mentioned, a lot goes into a SWOT analysis. I am just doing a quick one here to give you a brief idea about what it is.
What advantages does your brand have?
virtue + vice is located in NYC, one of the fashion capitals of the world. Comapny B in New Zeland, has a much smaller fashion scene, and the geographical distance makes networking and partnerships more difficult.
I spend 1/2 the year in India. This keeps me close to my supply chains on the ground, and able to help clients with content about how their products are made as well as live updates. It also offers an added layer of authenticity.
Opportunity is a natural progression from strengths. How can you use your strengths to become even stronger?
My geographic strength of being in NYC leads to more networking opportunities and the ability to attend more fashion events. My life in India allows me to be on the ground working directly with factories so I am first in the know with the latest news.
Company B has been at this longer than me. Almost exactly twice as long as me. Also, one of the things that I thought made me unique - my long history working with well-established brands is also a strength of Jacinta's. We have even worked with some of the same brands!
Threats, analyze what obstacles you face because of your weaknesses. For me one of virtue + vices threads is authority. The fact that Company B has been in business for twice as long, gives them more authority in this space.
Now there are tons more strengths, opportunities, weaknesses, and threats that I could add. And I would recommend doing this exercise for at least 3-5 competitive brands. Again if you want to learn more I will be putting out a full competitive analysis guide with a lot more details and info on how to do a proper SWOT. But for now, I think you get the idea.
Section 7: Production Plan
- Company development, sales, production, and delivery calendar
The Importance of Timelines
This is basically a development and inventory calendar. How many seasons a year will you produce? When will you develop them? Sell them? When will you produce them? And, when will they sell in stores, and even be discounted?
virtue + vice follows our customer's timelines. So, what I am working on for them, depends on their business model. Some of our customers are seasonal, and only put out one main collection per year. Some two seasons, and some up to seven. And, our clients are all over the world. So our southern hemisphere clients are working on a totally different season than brands in the North.
For example, I am working on everything from Summer 2020 (happening like now!) for quick deliveries to Fall 2021, that's not this fall coming up but the fall after it (18 months from now).
How To Set Up Your Calendar
As a brand, I would recommend setting up your calendar around industry tradeshows to start out. The below break down is for America's sales season.
There are 6 major fashion seasons. They are spring, summer, fall, winter, holiday, and resort.
And, there are 4 main dates you need to keep track of for each season. They are development dates, sell dates, and production dates, and delivery dates.
Are the times you will be developing your product for the next season. You are going to want to plan for 3 months of development time before your sell dates.
Are the dates there will be trade shows and other sales opportunities for that season.
Are when you need to start producing the goods, and when they need to be finished by.
Are when the goods need to be delivered to your customer. Remember it can take over a month to ship goods from a factory if you are shipping by sea, so factor that in.
the fashion calendar
SPRING Development Dates - May - August Sell Dates - August - October Production Dates - October-January Delivery Dates - January - March
SUMMER Development Dates - July - September Sell Dates - October - January Production Dates - December - February Delivery Dates - March - May
FALL Development Dates - October - December Sell Dates - January - March Production Dates - April - June Delivery Dates - July - August
WINTER Development Dates - December - January Sell Dates - March - April Production Dates - June Delivery Dates - September
HOLIDAY Development Dates - February - March Sell Dates - May - June Production Dates - July Delivery Dates - October
RESORT Development Dates - March - May Sell Dates - June - August Production Dates - July - September Delivery Dates - November - January
But, this section needs to go even more in-depth than just a timeline.
To understand what goes into product development, production, and sales and marketing schedule I am working on writing full courses on all of those coming soon!
Section 8: Operation Plan
- Your company budget
What Do You Need To Keep Your Business Running On A Daily basis?
Remember that budgeting guide I wrote ? This is where all that info goes. Filling out this part of your clothing line business plan should be easy if the budget was done correctly.
virtue + vice operatin plan
I work from home, so that saves me a lot of money. I don't have full-time employees, so that also requires me to have less capital for salaries. Where I personally spend most of my money is on travel.
And, no it's not the glamorous kind of travel. It's me booking a ticket at 6 am for a flight to India at 9 pm that same day so I can go straighten out some sort of supply chain issue we are having in person.
Do I have to travel? Well, that's 50/50. A lot can be done remotely. But, there is always a special touch that comes when you do business in person. You will find that almost any time in business when you are face to face the dynamic is different. Even just taking a conversation off of email and onto the phone can makes huge difference.
Necessary recurring monthly costs for me are the website domain, hosting for the website, apps, and programs I use like Grammarly, Adobe, and quick books.
Basically you can take your budgeting template and use it for this section. Yay! The work is already done for you.
Section 9: Financial Analysis + Projections
Again, this is where budgeting is going to come in handy. You might even want to hire a professional bookkeeper or accountant for help with this.
- The money you need to get started
- How you will use that money
- The income you hope to make off of your products
- And, balance sheet
Financials make most peoples heads spin, that is why I definitely recommend talking to a pro for this part.
At virtue + vice I have a full-time bookkeeper and an accountant. I am uncomfortable sharing my companies finances publicly. But, if you need help with this section, that's why I suggested at the start of this article to help get your financial plan for fashion business in order before even starting the business plan.
Back to Sections 1 +2: Executive Summary + Company Overview
Now back to the top. Remember, we skipped the executive summary and company overview. Now that we have mapped out our entire business plan we need to recap everything by writing these two summaries.
This is where you can hook potential investors. It's the first section anyone reads of your plan, so make it clear and quick.
Here is mine for virtue + vice
virtue + vice is a consultancy firm dedicated to helping companies clean up their supply chains. We are located between NYC and Goa, India. Our dual locations allow us access to the world's fashion capital, while our time spent in India allows for close monitoring of our supply chains.
Our goal for virtue + vice is to assist companies who are realizing that sustainable and ethical fashion is not a trend that is going away anytime soon, and want to be the process of cleaning up their supply chain. We offer support across all product life cycle steps including - conscious design, sourcing, product development, production, marketing and branding, retail and sales, storytelling, and content.
Key things to include in your executive summary
What you do. Where you are located. Benefits of your location. What you are selling. Why what you are selling is a great idea. Again, it's ok to get a little braggy here.
You can use this part to dive a little deeper into you and why you are starting your brand. Who are you? Why this product? How are you qualified to do this, etc? Why are you designing the type of products you are designing (hint, hint, market research). Etc...
this is my company overview for virtue +vice
virtue + vice was founded by Melanie DiSalvo. In her own words
"After working in fast fashion for 7 years I left my position as Director of Product Development with the goal of helping brands clean up their supply chains.
At the time I had a great salary, was working my way up the corporate ladder, under 30 and already had a director's title, and was traveling the world to developed and produce products for brands like Walmart, Target, Ralph Lauren, and Levi's to name a few.
The problem was that I saw and learned too much about how our clothes are really made in dark corners of the world.
So, I made it my goal to expose the industry by educating curious customers and help brands choose better supply chain partners. I have been featured in publications like WWD, VOX, Sourcing Journal, and more. And, was a speaker at SXSW."
virtue + vice aims to target clients from the fashion industry with well-established brands as well as startups to aid them in supply chain transparency and creating conscious products for this growing market share. virtue + vice will work with each client individually to meet their seasonal needs.
We believe our strength is our 10 years experience in this industry and the supply chain partners we have developed relationships along the way. Our plan. is to operate out of NYC and India for the foreseeable future where our founder has homes, and hopefully to expand to a third location in China in the next 5 years.
We believe that our dedication to quality and transparency, along with a sliding consultancy rate, will keep us profitable in years to come.
company overview recap...
See what I did here? I spoke more about myself and created a little background story. Then I hit all the other points of the business plan quickly - marketing, sales, competition, production, operation, financial.
And, We're Done!
And there you have it. A clothing line business plan. I hope this helps. After coming across so many generic business plan templates online, I was inspired to write something a little more intimate. I really wanted to show you what goes into making a business plan, and in the spirit of transparency open up about how my business works.
Remember, business planning is a lot of hard work. But, when clothing brands put in the effort at the start of their business, they have a much higher chance of success and growth.
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Clothing Store Business Plan Template
Business Plan Outline
- Clothing Store Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
Start Your Clothing Store Plan Here
Direct and indirect competitors.
H&M is known for providing the latest in fashion at an affordable price globally. Founded in Stockholm, Sweden in 1947, H&M continues to dominate the affordable fashion industry in global markets. As of November 2019, H&M operates in 74 countries with over 5,000 stores. H&M’s suppliers are able to source the material at competitive costs allowing them to offer their clothing for a fraction of other retail outlets. While H&M dominates in price and fashion, they tend to suffer and receive criticism for the quality of the fabric and stitching. With their strengths in technology, personnel, and global sourcing, H&M is able to revamp their inventory bi-monthly and offer the sophisticated technology component of an app and website for marketing.
Abercrombie & Fitch
Abercrombie & Fitch is an American apparel company targeted towards young men, women, and kids. Founded in 1892 by David Abercrombie and Ezra Fitch, the store has been a staple among young American teens for over a century. Their clothing line is exclusively casual with a large selection of jeans, sweaters, shirts, and shorts. A&F is geared towards the all-American youthful image of modern day. A subsidiary is another popular retailer, Hollister, who sells budget friendly styles of what you would find at an Abercrombie & Fitch store. Because of their strong national presence, A&F offers a professionally designed website, email list, app, and social media accounts that allow them to stay relevant with the trendy young population.
Sons of Yale
Sons of Yale is a local boutique shop located in New Haven, Connecticut catering towards the preppy youth of the local town. Founded by Yale grads in 2002, Sons of Yale is a 1,400 square feet boutique retail shop offering trendy styles for teens, college students, and young professionals indicative of Northeastern U.S. preppy style. Their prices are on the high end and the owners believe that adds to the customer desire. In New Haven, wearing a Sons of Yale item is an indication that you are part of the upscale and luxury community. Their marketing approach is simple, they rely heavily on their Instagram and Facebook business accounts and have a simple website that only includes location, contact information, hours of operation, and numerous professional photographs. A consumer is unable to purchase any items from their website.
Lisa Jade Fine Clothing will be able to offer the following advantages over their competition:
- Lisa Jade will pride itself in using high quality material at affordable prices. They have been able to negotiate with U.S. based suppliers that are able to manufacture their design concepts at an affordable price.
- Lisa Jade will offer several technology advantages, such as a customer profile assessment kept in a database so that their loyal customers will be notified the minute one of their favorite items is available in their size. Lisa and Jade believe that by offering this level of customer service, they will be able to retain and recruit a steady customer base.
- Unique and modern designs crafted from the minds of Lisa and Jade. Most apparel sold in the store will be from the notebook of Lisa and Jade. They will carry very few items that can be purchased from other warehouses. By offering fresh and unique designs that are on the cutting edge of trendy, young people will be flocking to obtain a piece of clothing that can’t be found on 1,000’s of other people around the country.
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Clothing Manufacturer Business Plan
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New Look, Inc.
Financial plan investor-ready personnel plan .">, key assumptions.
– There are fashion forward men in the area
– These men have money they could spend on luxuries if they choose
– These men are looking for high quality and unique clothes. They appreciate brands over everything else.
Revenue by Month
Expenses by month, net profit (or loss) by year, use of funds.
The New Look strategy is to aggressively develop and market a full range collection to consumers. The company intends to market its line as an alternative to existing clothing lines and differentiate itself through its marketing strategies, exclusiveness, and brand awareness. New Look intends to build on its core portfolio of products and overcome any obstacles by using the company’s expertise in the clothing industry.
Sources of Funds
We believe we will be able to finance our growth through careful management of existing streams of income and working capital generated by the business.
Projected Profit & Loss
Projected balance sheet, projected cash flow statement.
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Clothing Line Business Plan – Free Online Boutique Template
Sell the hottest fashions with your own clothing line or fashion boutique. Use this free clothing line business plan to get your business started, including setting up an online clothing store from home.
Download this Clothing Business Plan free for easy editing in Google Docs or Microsoft Word:
Table of Contents
1.0 CLOTHING LINE BUSINESS PLAN – EXECUTIVE SUMMARY
Booming Boutique is a start-up clothing line business that will sell fashionable clothing to women of the Baby Boom generation. We will locate Booming Boutique in downtown Pleasantville, Florida, which is a popular retirement and tourist destination. While our initial goal is to open one boutique, expansion plans include potentially franchising our retail store and/or building a well-recognized brand name. In turn, we would hope to penetrate a sizable portion of the online retail market.
1.2 PRODUCTS & SERVICES
The fashion and retail industry tends to be overly youth focused. However, by closely following generational fashion trends as well as our own customers’ purchasing preferences, we will tailor our inventory to meet the specific needs of our clientele. We will solely focus on the our styles, colors and fits to flatter the lady Baby Boomer/ Meeting the needs of her figure will be our specialty.
1.3 MARKET ANALYSIS
The total sales reported in the U.S. retail industry in 2007 (including food service and automotive) exceeded $4 trillion. There are roughly 75 million Baby Boomers, half of which are women. In Pleasantville, the current population is just fewer than 40,000. 54 percent of the total population is women who have a median age of 48. The median income is $48,600. We will initially seek customers locally, but will increase our reach as we build our brand and secure our image.
1.4 STRATEGY & IMPLEMENTATION
Booming Boutique recognizes the importance of marketing for this clothing line business plan. And to that end, we plan to promote our retail business with an ambitious, targeted marketing campaign, which will include a grand opening event, local media coverage, print advertising and a direct-mail campaign. Our goal is to keep our marketing budget to no more than 5% of our gross annual sales, and we will partner with local organizations such as the Chamber of Commerce and Downtown Merchants Association as often as possible.
Robin Mathews and Joanna Jensen are co-owners and will co-manage Booming Boutique. Mathews has worked ten years in the retail industry, including four years as the manager of an antique furniture shop. She earned a BA degree in finance from Britannica College in Tampa, Florida.
Jensen’s experience lies in the fashion industry. She’s worked with designers, wholesalers and retailers for roughly 20 years. Jensen holds a BA in fashion merchandising from Colliers Fashion Institute in Miami, Florida.
1.6 FINANCIAL PLAN
Our company will earn revenue from our customers’ purchases of our products. Booming Boutique’s first-year income statement illustrates a profit margin of at least fifty-two percent, with a net income of $44,075 per month – after taxes. Finally, we have determined our break-even point will equal no less than $15,500 in total monthly sales. We project our annual profits to reach $380,000 by year three.
Our company will generate revenue from the retail sale of clothing and other merchandise. First year sales are projected to be $285,000, and we expect sales to surpass $525,000 by the end of year three. We will achieve month-to-month profitability within the first year.
1.7 SOURCES & USE OF FUNDS
Booming Boutique requires $282,000 to launch successfully. We’ve already raised $62,000 through personal investments and a small community grant.
We are currently seeking additional funding from outside angel investors and business loans. Start-up funds will be used for renovations, inventory and operating expenses such as rent, utilities and payroll.
Further, most of our initial investment will also be used to purchase retail equipment and inventory software – all of which will produce future benefits for the company.
A small portion of our investment will be used to create an online clothing store. There are inexpensive e-commerce tools that provide a very easy way to create an online boutique store where we can sell our fashions all over the world.
2.0 CLOTHING LINE COMPANY
2.1 company & industry.
Booming Boutique will be located in downtown Pleasantville, Florida. Our company is a retail establishment selling fashionable women’s clothing to up-and-coming Baby Boomer retirees. Our business operates within the retail industry and is classified under NAICS code 448120 – women’s clothing stores.
2.2 LEGAL ENTITY & OWNERSHIP
Booming Boutique is a multi-member Limited Liability Corporation formally organized in Florida. Robin Mathews and Joanna Jensen are the company’s principle owners. We hold equal shares of ownership in the company.
2.3 COMPANY HISTORY TO DATE
The Company is a new business aimed at providing women of the Baby Boom generation stylish clothing options to buy and wear. As the company’s founders and as Baby Boomers ourselves, we found that Florida’s current boomer-wear market is missing the mark.
In fact, most clothing shops for the 55+ set are still selling clothes that our grandmothers would have worn. As our local population ages and more Baby Boomers reach retirement-age and migrate to Florida, we recognize the need for a shop that caters to the up-beat, fashion-forward Baby Boomer generation who want to look and feel young.
Presently, Booming Boutique does not have a bricks-and-mortar location at the time of writing this clothing line business plan. In addition to starting an online boutique, we have identified an ideal spot in the downtown district of Pleasantville. The gorgeous area includes numerous restaurants, an art gallery, coffee shop, candy store and a picturesque park in the town square. We have signed a three-year lease for a 1,700 square foot building at $18 per square foot. Comparable properties are renting for $17-24 SF/Year.
Working with the property owner and the City of Pleasantville Downtown Redevelopment Committee, we have secured a $2,000 grant to beautify the façade of the building to include painting, signage and a new awning. We will only need minimal internal renovations such as installing dressing rooms and decorative items.
When considering the addition of wall mounts for merchandise, multi-level clothing displays as well as creative floor planning, this facility is large enough to support future growth. Additionally, we will be able to conduct all aspects of our business from this location since it has access to a loading dock and a back office for managers. This includes deliveries and shipments, inventory management and administrative duties such as finance, buying and marketing.
2.5 KEY ASSETS
Our key assets are our co-owners, Robin Mathews and Joanna Jensen, who bring tremendous experience and relationships to this business.
Once we launch Booming Boutique, our primary asset will be our brand, which will convey style, quality and a great shopping experience. In the long-term, it is this brand that will separate Booming Boutique from other retailers both locally and nationally.
3.0 CLOTHING BRAND – PRODUCTS AND SERVICES
We will earn profits by selling our merchandise. Our pricing structure will remain flexible, as we will implement suggested retail pricing on common brands as well as the standard practice of keystoning prices. Additionally, we will use a value-based pricing structure, which measures the value of our products to our customers such as easy access, quality, customer service and styles flattering to our target consumer. We will implement end of season sales, holiday and overstock sales, multi-buy savings and promotional coupons at strategic intervals.
3.2 FEATURES & BENEFITS
One key feature that separates Booming Boutique from all other local boutiques and chain department stores in the area is our commitment to providing women of the Baby Boom generation stylish, quality clothing options. Because our primary concern will be ensuring our consumers are happy with the fit and style of their purchase, we will provide products tailored to all shapes and sizes of women. In addition, we will make every effort to have petite and plus size versions of our merchandise in stock. If they are not in stock, ordering them will be easy, cheap and efficient.
Further, as we emphasize in this clothing line business plan, Booming Boutique will not just be a store that sells clothes. Our clientele will benefit from an experienced, knowledgeable sales staff. Out of the gate, our goal is to implement a superior customer service system. Beyond our friendly reception and an inviting atmosphere, Booming Boutique will also offer customers fashion information and advice. Our trained personnel will provide counsel that women simply cannot find at other clothing stores. The service is like a beautician who offers advice on what hair styles best complement his/her client’s face. Our hip and qualified fashion-industry expertise will ensure our customers walk away with the perfect outfit.
In Pleasantville, there are no direct competitors offering our unique services or targeting Baby Boomers specifically. In the Downtown District, the shops most closely competing with Booming Boutique are as follows:
- EcoWise Boutique, which targets a younger demographic and specializes in natural fiber clothing. They also carry local art and jewelry.
- Caddy Corner Kids, which targets parents shopping for children, specializes in children’s clothing, accessories and toys.
- Kati Kouture, which targets younger women, specializes in offering industrial chic clothing with “classic lines and a punk gothic edge.”
- Marjorie Joe’s Fashion & Gifts targets older women within our target demographic, but specializes in the more homemade, old-fashioned style clothing.
- Petal Place Boutique targets women within our target demographic as well, but they specialize in an affordable, folksy style of clothing with handmade shawls and embroidered shirt sets.
- Second Time Around targets women and may overlap our target demographic slightly. However, they specialize in consignment clothing.
There is one super-store within a 60-mile radius of Pleasantville. The store is similar to Walmart in that it sells lesser quality items at lower price. But there are two chain department stores. They sell men’s, women’s and children’s clothing along with home accents, electronics and appliances. While familiarity is comforting, industry research indicates increasing frustration with the inferior quality, sub par customer service and vastness of super-stores. Not to mention, the inept sales staff and lack of selection often found at department stores.
3.4 COMPETITIVE ADVANTAGE/BARRIERS TO ENTRY
To date, our primary competitive advantage is the absence of any store like ours in the Pleasantville area. In addition, company co-owner, Joanna Jensen, has worked in the fashion industry for more than 20 years. Her experience includes working with apparel retailers, clothing wholesalers, garment manufacturers, and fashion designers. She understands the fashion industry and knows how to spot the latest trends.
While there is no guarantee a competitor will locate within our area, we have no doubt in our fashion sense, outstanding customer service and quality products. In turn we will quickly establish Booming Boutique as the place for lady Baby Boomers to shop.
Also, we would be the only niche fashion retail-store for hip, older women. While other stores offer some style equivalents, they are not focused solely on the baby boomer generation. We are, and therefore, have a distinct competitive advantage in our niche.
Our supplier relationships and exclusive product offerings will prevent future competitors from entering the market as a competitor. Also, it takes time to build a retail store, and by the time a competitor attempts to compete with us directly, we will have already established a strong customer base.
As our company grows and our boutique earns a positive reputation, several opportunities will open to us. And we are considering some options already. Should we choose to remain a small local boutique, we will develop and grow our company by increasing existing clothing lines and expanding our selection to include additional products such as swim wear, lingerie, or sportswear. Within five years, we will assess the potential for franchising our stores in select locations.
Additionally, as we build our business, we plan to simultaneously develop an online clothing store for Booming Boutique. The power and ease of an online storefront is obvious to us, and we plan to develop one quickly and efficiently. We also see the potential for regional and/or national expansion at some point.
Our online clothing store will help to spread awareness of our product line and brand to a wider community.
4.0 CLOTHING LINE MARKET ANALYSIS
4.1 target customer.
Having said that, there are currently about 75 million Baby Boomers living in the United States. A boomer is better described as the generation born between the years 1946 and 1964. About half of this population is women.
While those born in the 1940’s are still slightly more conservative, those born during the 1950’s and 60’s were trailblazers and trendsetters. Specifically, these will be the women we target vigorously with our marketing and offerings. These women range in age from their mid 40’s to late 50’s. They value uniqueness, convenience, service and quality. As they retire, price does become a factor in decision-making. At the same time, they were always a generation of the “buy now and pay later” philosophy.
4.2 MARKET SIZE
Pleasantville accommodates a robust retail market. While car dealerships, grocers and home improvement retailers account for a sizable portion of the retail market, the main local shopping district is downtown. With tree-lined streets and quaint shops and restaurants, the downtown retail district is the social and shopping hub of the community. The current population of Pleasantville is just fewer than 40,000. 54 percent are women who have a median age of 48. Their median income is above the national average at $48,600. Moreover, according to National News, Pleasantville is one of the 2008 Top 6 Towns to Retire for Baby Boomers. Many of these retirees are looking to retire on the water in a cozy, yet thriving community.
In addition to local consumers, we will also benefit from tourist traffic. Pleasantville is located a mere 30 miles from the sandy white beaches of St. Petersburg and Clearwater. It’s also within close proximity to many Tampa and Orlando area attractions. Our town boasts a healthy and recession-proof tourism industry. In addition, Pleasantville hosts several annual craft and golf events, which bring several thousand of our target consumers into the area each year.
4.3 CLOTHING TRENDS
The retail fashion industry is a solid business with ever-changing styles and ever-present consumer demand. While supercenters and megastores ruled the past two decades, more and more consumers are looking for change. They’re searching for a more serene and customer-friendly shopping experience. This is true especially for those nearing retirement age. In reality, as the Baby Boomers numbers decrease, there will be fewer older Generation X-ers to sell to. However, this market decrease will not occur for at least twenty years. Even then, clothing will always be in high demand. The fashion industry in America has been thriving since the advent of moving pictures.
4.4 SWOT ANALYSIS
- Experience and understanding of the fashion industry
- Unique shopping experience with exceptional customer service
- Great downtown location
- Large and growing consumer base
- Untested market in Pleasantville
- While market is large, it is a niche market (Baby Boomers)
- Outstanding shopping experience will lead to repeat business
- Growing online clothing store Booming Boutique
- Establish a Booming Boutique clothing line
- Cost and effectiveness of marketing to women “Baby Boomers”
- New retail shops that may or may not open in the future
5.0 STRATEGY & IMPLEMENTATION
Our company’s core business strategy as highlighted in this clothing line business plan is to combine exceptional and knowledgeable customer service with quality stylish merchandise. And in turn, we’ll provide an enjoyable shopping experience for our customers. Booming Boutique’s mission is to offer women of the Baby Boom generation a wide selection of fashionable, figure-flattering clothing. Our aim is to establish our company as a pioneer in this youth-obsessed industry and build a boutique brand name that will be synonymous with the fashion industry revolution.
5.2 PRODUCT DEVELOPMENT
We are currently working with several apparel wholesalers, garment manufacturers and two freelance fashion designers to assemble our inventory. We are also working with city economic-development officials to secure all required permits and occupational licensees. Once we secure financing, we will move ahead with the façade renovation, which we will pay for via the PDRC. We will also use the financing to purchase inventory, retail displays, and office supplies.
Prior to the grand opening of Booming Boutique, we will schedule an event with the Chamber of Commerce and start our promotions with pre-publicity flyers, advertising and additional marketing activities.
5.3 INTERNET STRATEGY
As the Internet has become a staple of American life and retail merchandising, Booming Boutique will build a website on which we will sell our products, too. We have secured the domain name BoomingBoutique.com and will begin site development using Bluehost for website hosting and Thrivecart for a high converting online shopping experience. These platforms allow us to create an online storefront quickly and will manage all aspects of it including creating shipping labels, accepting payment, and monitoring inventory. Customers will also be able to create wish lists for items they want to purchase later.
Having this online presence will allow us to build our email marketing list and send regular promotions to customers with new product announcements, discounts, specials, birthday coupons, and fashion ideas.
Foremost, we intend to showcase our brand, our clothing and provide customers with the ability to purchase items online. As the site progresses, we will include features such as fashion advice, designer interviews, newsletters, and Internet-only specials. Eventually, we hope to establish and nurture an online social community where women can gather and discuss topics of the day, network and share clothing secrets.
5.4 CLOTHING LINE MARKETING STRATEGY
We both have strong marketing backgrounds and recognize the significance of effective marketing. We expect our strategy to draw consumers into Booming Boutique from the very beginning. Moreover we will hire a local PR firm to help us develop and implement a strategic marketing plan and guide our publicity efforts in a cost-effective manner. Our marketing message, logo and slogans will revolve around the idea of the Baby Boom generation as revolutionaries and trend setters. Boomer women are in their prime and at their best. Our store will recognize them as a force within the fashion industry.
Our goal in this clothing line business plan is to keep our marketing budget to no more than 5% of our gross annual sales. We will partner with local organizations such as the Chamber of Commerce and Downtown Merchants Association as often as possible. We already have connections in all the necessary places. These strategic partnerships will allow us to piggyback on publicity for local events, as long as they are within our targeted demographic. Booming Boutique’s initial marketing efforts will remain local as we establish a presence in our community. These will rely heavily on local print and broadcast media coverage, traditional advertising, signage, a direct mail marketing campaign and networking. We will initially allocate a significant portion of our advertising budget to print and broadcast media to get the word out.
Of course, we will build anticipation and excitement about the new boutique prior to its grand opening. Working in conjunction with the Chamber of Commerce, we are already talking about a grand opening soiree. This will include hors d’oeuvres donated by the bistro across the street and a silent auction of a local artist’s painting collection. The collection is currently on display in the Downtown Art League Gallery.
We will also hold a drawing for a $100 shopping spree and fashion consultation. Entry collection will start at the grand opening and continue throughout the week. We will use these names and contact information for follow-up marketing initiatives. The Chamber of Commerce and the Downtown Merchants Association will promote the event in local newspapers and radio advertising. Comprehensive advertising and semi-annual direct mail marketing campaigns will follow the grand opening. We will also take advantage of low cost publicity activities such as posting sale flyers on community bulletin boards and online.
5.5 SALES STRATEGY
Booming Boutique plans to generate sales via strategic marketing efforts. These concentrated efforts will be targeting new and returning customers as well as single-visit tourist consumers. We will also implement a referral program rewarding customers who refer new customers with discount coupons. Following our grand opening, we will conduct a direct-mail campaign to targeted consumers that we have signed up through our in-store mailing program. The direct mailers will consist of 5,000 full-color postcard mailers. Each will include at 10% coupon. We will offer promotional discounts and seasonal and clearance sales throughout the year.
Our sales staff will include both co-owners and 2-3 part-times sales associates. Combined, Jensen and Mathews have nearly 30 years experience in the fashion and retail industries. We will provide comprehensive training to each sales associate. This will include how to sell merchandise as well as how to provide fashion advice to customers. Our sales team will earn an hourly rate, plus a generous percentage of commission from each sale.
5.6 STRATEGIC ALLIANCES
Booming Boutique plans to join the Pleasantville Chamber of Commerce as well as the Pleasantville Downtown Merchants Association. These organizations are dedicated to promoting local businesses within our community and sponsor several events downtown each year. As a member of these organizations, Booming Boutique will gain exposure, make business contacts, and will benefit from Chamber and Association advertising, Web site promotions and events.
As a retail establishment, Booming Boutique will conduct business seven days a week from 10 a.m. to 6 p.m. Monday through Thursday, from 10 a.m. to 8 p.m. Friday and Saturday, and 12 p.m. to 6 p.m. on Sunday. During the holiday seasons and during special events, we will extend store hours. At this point, the retail store will take require approximately 2/3 of the building’s available space. We will use the remaining space for stock and administrative purposes. In addition to the two full-time co-owners, we will hire three part-time employees to serve customers.
Our company will secure merchandise from local manufacturers with showrooms in Orlando and Miami. We’ll also have access to the Florida Apparel Market, which is the largest wholesale merchandise warehouse in the state. Purchasing from FAM, buyers receive product displays and promotional materials with purchase. Additionally, we will work closely with our regional sales representative. We will also attend relevant pre-season fashion trade shows.
To control costs, track inventory and manage stock levels, we will put an inventory control system in place. This will include the standard bar code with its related equipment and software. Staff will conduct annual inventory audits and hire outside auditors when necessary. We will maintain all accounting and finances using Quickbooks online.
5.8 CLOTHING BUSINESS GOALS
The following is a list of business goals and milestones we intend to accomplish our first year of operations using this clothing line business plan.
- Complete renovating, stocking, hiring and initial marketing.
- Host a successful grand-opening event.
- Penetrate and raise awareness in 60 percent our targeted consumer market.
- Achieve a profit margin of 50 percent.
- Build a solid customer base and mailing list.
- Generate repeat and referral sales.
- Become a profitable business with expansion potential.
- Establish a solid reputation as quality retail establishment.
Our first major milestones will be securing funds and setting up our business. This is our major focus right now. In five years, we hope to have established our retail business within the community and within our industry. Furthermore, as co-owners, we would like to see the growth of our store with an increase in product lines, further penetration of the national market with online sales and, under the right set of circumstances, the opening of franchise Booming Boutiques in strategic locations.
5.9 EXIT STRATEGY
The co-owners intend to launch and grow Booming Boutique for many years into the future. In the event that our investors require repayment of their initial investments, plus a large return on their investments, we will seek a partner to buyout the investors’ shares. Another alternative is a management buyout, which will be agreed upon in advance.
In the long-term, we will position Booming Boutique as a profitable business that will be an appealing acquisition for any number of retail chains.
6.1 organizational structure.
As a small business, we will have a small staff. Both co-owners will assume leadership roles within the company and will be responsible for daily operations, overseeing marketing efforts, buying merchandise and managing inventory and all other administrative duties. A small sales staff will assist co-owners with securing sales, assisting customers and general maintenance of stock on the floor.
Co-owners, Robin Mathews and Joanna Jensen, created this boutique business plan. Both will co-manage Booming Boutique. However, daily responsibilities will differ.
Robin Mathews will manage the day-to-day operations including supervising staff, maintaining inventory and bookkeeping. Mathews worked ten years in the retail industry including four years as a manager of an antique furniture shop. Mathews earned a BA degree in finance from Britannica College in Tampa, Florida.
Joanna Jensen will oversee the merchandise buying for the store as well as maintain a keen awareness of trends within the industry. She will also work with our public relations firm to ensure superior marketing plans are in place and implemented. Jensen worked in the fashion industry in various capacities working with designers, wholesalers and retailers for 20 years. She earned a BA in fashion merchandising from Colliers Fashion Institute in Miami, Florida.
6.3 STAFF MEMBERS
Booming Boutique will employ a sales staff of 3 part-time employees. These positions are yet to be filled. However, we feel the labor pool is such that finding qualified employees will not be an issue. Our sales associates will be paid an hourly wage, plus commission. We will provide bonuses via sales incentives and conduct an annual review to encourage employee retention.
7.0 FINANCIAL PLAN
At this time we have raised $50,000 in equity capital and an additional $12,000 for a specific-use grant. Both co-owners, Robin Mathews and Joanna Jensen, have invested $25,000 each into Booming Boutique. We are seeking investors for an additional $170,000 in equity investment and $50,000 in loans.
7.2 USE OF FUNDS
We will use the funds we obtain from investment in this boutique business plan to pay for renovations, including the outside façade (to be paid for via PDRC grant), construction of fitting rooms, sales counter, painting, carpeting, lighting, decor and display fixtures. We will also purchase inventory, a cash register, computer equipment and an inventory management system. We will use the remainder of the start-up funds to cover operating expenses, such as rent, utilities, wages and marketing to increase retail sales .
7.3 INCOME STATEMENT PROJECTIONS
Based on our marketing plans , location, store size and product offerings, we expect to collect annual sales of $285,000 in year one, $375,000 in year two and $525,000 in year three.
Our average cost of goods sold will be 40%, which leaves us with a gross margin of 60%. Our minimum monthly fixed costs are $15,500 per month, so we will need to generate sales of $25,833 per month to break even. We will become profitable on a monthly basis before the end of our first year.
In our third year, we will earn net income of $105,000. The accompanying income statement demonstrates our company’s profitability.
7.4 CASH FLOW PROJECTIONS
Our business will collect immediate payment from customers, so our cash flow statement will be substantially similar to our income statement. Our cash flow statement clearly demonstrates our ability to cover all bills.
7.5 BALANCE SHEET
Booming Boutique will launch with $220,000 in equity capital and $50,000 in loans. Credit amounts and supplier terms for inventory will appear in our balance sheet as short-term liabilities. We will not document jewelry consignments from vendors in our balance sheet and will expense these items as we sell them. Details are shown in our enclosed balance sheet.
We base our projections on the assumption that the economy, consumer spending habits and population growth in Pleasantville will continue for the foreseeable future.
We must also assume that our present and future suppliers will continue to sell inventory to us at prices that allow us to maintain our present margins. It is also important that we are able to hire reliable employees at reasonable wages.
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Clothing Line Business Plan Sample
Have you ever considered creating your own clothing line? The fashion industry is a growing sector that is not only competitive but also has significant environmental impacts. In this clothing line business plan sample we will show you what it takes to write a plan that has a strong business case while considering the impact on our planet.
1.0 EXECUTIVE SUMMARY
Sample Clothing Line, (The Company) was registered in the Province of British Columbia on January 15, 2020 by CEO and Creative Director, Sara Jane. Sara will establish the company as a street style clothing brand for a male, female, non-binary audience, of youth consumers ages 18 – 28.
Through an aggressive digital marketing strategy, Mrs. Jane will develop a community of “advocates” purchasing the company’s comfortable, sustainable, yet authentic clothing. Moreover, a collaboration between independent artists, and the company will make the Sample Clothing Line platform truly unique. “At the very core of the Sample Clothing Line brand is a belief that art can unite us through fashion. Our platform enables artists to showcase their work through the very clothes we create. As the pioneers of this platform we’ve been met with abounding support by our target audience, local artists, and the slow fashion community.” – CEO and Creative Director, Sara Jane
For the first two years of operation Sample Clothing Line will execute a purely digital strategy; marketing its products and building its community on social media; while selling apparel through the company’s online store. In May of 2021 the company will officially launch in Canada, establishing its domestic customer-base. In the following year, Sample Clothing Line will expand into the US, establishing itself as a sustainable, purpose-driven street style brand. In Year 3 the company will continue its growth in the North American market, while developing two physical stores located in strategic cities.
Today more than ever, youth want to support conscious brands. In fact, 70% of streetwear’s young fans consider themselves as socially-conscious. Sample Clothing Line has identified the massive market opportunity for a clothing line that can captivate its young audience through positive brand messaging. Sample Clothing Line is just that, a brand that is artistic, grounded in social justice, while offering the most coveted selection of street style fashion available.
The company is seeking a CAD $60,000 loan through Futurpreneur Canada and the BDC, primarily to expand the company’s website, e-commerce store, and for the garment-making of its 2021 clothing line. This funding in combination with Sara Jane’s initial investment, and 10 year background in the industry, will enable Sample Clothing Line to streamline its market entry, and ensure an effective ascent in the Street Style Fashion industry.
2.0 BUSINESS OVERVIEW
“Sample Clothing Line ” is a street style fashion brand serving a youth audience aged 18 – 28 years old. The company is focused on establishing itself with a brand identity rooted in vital issues for youth consumers, such as social justice, sustainability, individuality and transparency.
2.1 Business Summary
With over 10 years of experience in the Fashion and Beauty industry, Mrs. Jane plans to exercise her experience with Sample Clothing Line. The company will take an ethical approach to Street Style fashion by removing elements of exclusivity, hype culture, status symbolism; which are commonly practiced is the Streetwear Industry. Rather, Sample Clothing Line will continue building its community through principles of inclusion, art, positivity, and celebration.
For the first two years of operation Sample Clothing Line will exclusively sell it’s clothing products online through its flagship ecommerce store. Moreover, the company will capitalize on the availability of social media platforms hosting an abundance of target customers including Instagram, Tik Tok, and Twitter. Later in Year 3 Sample Clothing Line plans to open two physical brand stores in strategic cities across North America.
Throughout this stage of growth the company will further differentiate itself by establishing a platform where artists can collaborate and bring new, innovative fashion items to Sample Clothing Line’s customers. Instead of giving artists “free range”, Sample Clothing Line will work with them to develop fashion that is cohesive with the brand’s current or upcoming clothing line. Together, the Sample Clothing Line brand will serve it’s audience by creating sustainable clothing; both environmentally and socially, and progressing individuality over hype culture.
2.2 Industry Overview
We estimate the size of the global streetwear market at USD $185 billion in annual sales, making it by some estimates about 10% of the entire global apparel and footwear market. Streetwear’s impact – both on retail culture and the numbers involved – has caught the attention of some of the most iconic, established brands in the retail, luxury goods, and fashion industry in general.
Streetwear players come from various parts of the fashion industry. There are pure streetwear brands, while sportswear names are developing their traditional portfolio of sports equipment into a growing streetwear portfolio with the concept of cool, hip sneakers and hoodies. In addition, luxury brands are also working to gain a significant stake in the streetwear market.
2.3 Mission & Vision Statement
Our mission is to promote slow fashion to our target audience.
Sample Clothing Line is committed to procuring the most sustainable materials available. As the company is established it will work to find a supplier of hemp fabrics, as this material has been recognized as a way to reduce our environmental impact.
2.5 Goals and Objectives
- Secure $60,000 in funding from Futurpreneur Canada and the Business Development Bank of Canada.
- Execute the company’s “official launch” on May 1, 2021 via social media and the Sample Clothing Line website/ecommerce store.
- Control costs while establishing a loyal customer base in Year 1.
- Expand Sample Clothing Line’s reach into the US marker in Year 2.
- Continue developing the brands online community on social media platforms Instagram, Tik Tok and Twitter.
- In Year 3 establish two physical brand stores in strategic North American cities.
2.6 Key Success Factors
- Collaborations that create a bigger audience
- Establishing our community on social media
- Providing healthy compensation to local artists
- Keeping intune with our target audience and reflecting that in our clothes
- Inventory management: not producing too many articles of clothing
- Being able to identify and adjust trends quickly
- Taking risks in styles we’re confident with
Chief Executive Officer (CEO):
The CEO’s core responsibility is to ensure the health and success of the company. Operations, marketing, finance, strategy, company culture, human resources, hiring, sales, public relations all fall under the responsibility of the CEO. As CEO Mrs. Jane will learn the ins and outs of every position in the company. She will be directing, planning and coordinating operational activities and devising policies and strategies to meet company goals.
Responsible for overseeing the creative concepts of all collections, artistic work, and collaborations. The responsibility here lies in ensuring the clothing will suit the demographic and represent the brand to its fullest potential.
Community Outreach Manager:
This customer relations role deals with the basic communications between the company and its customers. Responsibilities will include answering calls, responding to emails, customer questions, resolving most customer issues. The more advanced part of this role will be learning and developing our ideal customer. We understand as a brand the importance of thoroughly understanding our customer so this role will include capturing information about the way our customers communicate; therefore, developing our voice and the way we can best reach our audience. Community outreach will be essential to the growth of Sample Clothing Line as we want to collaborate with not only artists, but other businesses as well. The community outreach role will include the planning and implementing of outreach strategies. This position will cultivate relationships with businesses, communities, and relevant organizations that may lead to increased brand awareness through cross promotion.
The store manager will be responsible for overseeing the operations of their location. One of their main responsibilities is overseeing the company culture of the store and ensuring it’s in line with the wider Sample Clothing Line company culture. Additionally, the Store Manager is to create an environment where our employees love to be. It is the responsibility of the store manager to not only oversee the running of the store, but to exemplify how it is to work for Sample Clothing Line and create an environment that reflects that. We want our employees to actually enjoy being at work, to look at it like a blessing and not a chore. Aside from company culture, the main roles will include:
- The recruiting, training, supervising of staff
- Dealing with customer queries and complaints
- Maximizing profitability. Setting/meeting sales targets. Motivating staff
- Present sales incentive opportunities for our employees
- Managing budgets. Maintaining statistical and financial records
- Liaising with head office
- Upkeep of store displays, merchandising standards, standards in general
This role will be responsible for monitoring all E-commerce orders, as well as seeing through their fulfilment. This would entail packing all orders to company standards and ensuring everything that leaves the facility matches the quality control set in place by the company. Presentation will be a key part of our brand so the way our packages are delivered to our customers will be essential. We want our customers to be excited about the process of receiving and opening our products. We want to connect with our customers on as many levels as possible, so the role of our Fulfillment Manager helps in elevating the company’s overall appearance and standards. The responsibility here is upholding our company’s presentation and ensuring all orders are packed and shipped out properly. This role will also deal with receiving any returns or sending out any exchanges.
Social Media Manager:
Due to the fact that we will reach our target audience heavily through social media, this position will be essential to the growth of the company and reaching the perfect target audience. This role will plan, implement, monitor and manage the company’s social media strategy. Responsibilities will include increasing brand awareness and posting relevant social media content. Sample Clothing Line will lead the way in new trends, do our own thing, and never “follow or tag onto tacky trends”.
Sample Clothing Line will have it’s own in-house graphic designer to create graphics that will be printed or embroidered on our clothes during the times we are not collaborating with an artist. The graphic designers responsibilities will be bringing the creative directors vision to life. This role will include regular meetings to discuss ideas for future collections where the graphic designer will then produce the work, where a second revision will take place. This role is very important as the graphic designers vision needs to line up with that of the Creative Director. This position is responsible for expert knowledge of our target market and understanding our industries norms and trends in order to produce the most persuasive, on brand designs as possible. The graphic designer will help with any social media marketing needed, company and website design development, advertisements and assist in growing the aesthetic image of the brand.
This role is to work alongside the Creative Director in creating all in house made samples for each garment. Eventually we would love to produce all our own samples in house, in order to keep overhead costs down. The Seamstress’ role will be unique in that it won’t be a standard Seamstress position. The in house Seamstress will also be responsible for all finishings on clothing, whether it be silkscreening or embroidering. Industry knowledge is very important in this role as the Seamstress will be expected to add to the creativity of the line, bringing new ideas to the table as well as working off the ideas of the creative director. Roles will include constructing samples and garments, operating and maintaining sewing and finishing equipment.
Our sales associates will be people our customers not only go to for clothing or style advice, but will add their own personal flare to the store as well. We want to be a company that supports individuality for our staff and customers. Our stores will be a place for people to connect, and collaborate so we want our sales associates to be individuals that our customers will look up to. This position has the responsibility of upholding our company culture, values, providing a heightened level of customer-service, and building return customers. We expect our sales associates to be good people and want the best for our customers. The general duties for this position are as follows:
- Greet and welcome anyone who comes into our space
- Sales and product education
- Product knowledge
- Ensure high levels of customer satisfaction through excellent service
- Advocate for our brand
- Operating tills, POS machines, processing sales, returns, exchanges
- Styling and providing personal shopping if necessary or asked for
- Increasing sales and meeting sales targets
- Maintaining overall appearance of store, displays, and products
- Having a good “customer service” attitude no matter what the occasion. Sometimes customers are rude but we need our team to remain calm and kind regardless
2.8 Management Team
CEO and Creative Director
3.0 PRODUCTS & SERVICES
Tops: Long sleeve top, Tee shirt, Long sleeve crop top, Tee shirt crop top, Tube top, Tank top, Button up baseball tee, Mock Neck shirt – $45
Sweaters: Crop hoodie, Crop crew neck, Full length hoodie, Full length crew neck, Oversized boyfriend hoodie – $60
Outerwear: Bomber jacket $120 , Coaches jacket $65 , Vest – $80
Bottoms: Chinos, Carpenter pants, Painters pant, Trouser $85, Oversized cuffed boyfriend sweatpant – $65
Accessories: Socks, Tote bags, Crossbody bags, Toques/beanies, Bucket Hats/Snapbacks, Boxers/thongs – $30
Swimwear: Bikinis, One pieces – $60
Athleticwear: Yoga pants, Yoga shorts, Biker shorts, Sports bra $60, Crop athletic jacket $120
Tops: Long sleeve shirt, Tee shirt $45, short sleeve button up shirt, long sleeve button up $70
Pants: Chinos, Carpenter pant – $85
Outerwear: Vest $80 , Bomber jacket – $120
Accessories: Socks, Tote bags, Crossbody bags, Toques/beanies, Bucket Hats/Snapbacks, Boxers – $30
Swimwear: Trunks – $30
Tops: Long sleeve, Short sleeve, Button up, Mock neck shirt – $45
Sweaters: Crewneck – $60
Outerwear: Coach jacket – $65
Accessories: Socks, Tote bags, Crossbody bags, Toques/beanies, Bucket Hats/Snapbacks $30
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The company’s operations can be summarized into an 8 stage cycle:
- Customer Demand: We are always watching to see what’s developing in the Street Style fashion industry. This stage is critical in developing new products.
- Product Creation: We develop a small order of prototypes. New products are always developed with minimal environmental impact; and a commitment to develop clothing that will positively progress the Sample Clothing Line brand.
- Product Surveying: We receive feedback on our prototypes from a small, diverse set of target customers. Changes are made on the prototype until we are fully confident in the end product.
- Production: We develop an order of clothes ready for our customers. We utilize sustainable products and service providers to ensure our products represent our values.
- Marketing: Utilizing our preferred social media platforms, muse marketing, instagram ads and in some situations brand partnerships, we get our fresh products in front of the community and other prospective customers.
- Ecommerce: Our audience is funnelled to our ecommerce store where they access the latest products available. They purchase items unique to their taste, and size.
- Fulfillment: Our fulfillment team ensures our customers receive their products on time, and without any hassle.
- Customer Care: We separate ourselves from our competition by being widely available by email, direct message and phone 24/7 to service customer concerns, complaints or suggestions.
Sample Clothing Line Headquarters
For the first year of operation this space will be utilized as the company’s shipping facility, photoshoot area, and product manufacturing centre; executing silk screening and embroidering.
Total Resale Value: $4,150
Laptop – MacBook Pro – $2000
Used for all business purposes
Afford-A-Flash -flash cure unit – model no. LC1600 $850
Used to cure silk screen ink
Silkscreen Press – INTBUYING 1 colour silkscreen press -$200
Used to hold screens for silk screening
Silkscreen ink, supplies, solvents -$300
Supplies for silk screening
Silkscreen Screens -Stanley’s Signs – $400
Used to print images onto clothes
Silkscreen station – $100
Workbench for silk screen press
Sewing machine – Husqvarna Viking -No.730061859- $270
Used for The Blanket Project and finishing any final cuts
Sewing kit – $30
Used for sewing
Equipment to Acquire
Total Sum: $2,573 + GST
HP ENVY Photo 7155 All-in-One Colour Inkjet Printer – $200
Used for printing heat transfer images for clothing
Vevor 5 In 1 Heat Press Machine – $260
Used to transfer images onto clothing
Brother computerized embroidery machine SE600 – $1000
Used to embroider logos and make patches
Fabric scissors – $26
Used to make crop hoodies, tops and long sleeves
Vintage Olympus film camera – $289
Used to photograph clothing and create desired images for social media
Canon EOS Rebel – $548
Used for digital images for website photoshoots and social media
Lumina Pro Ring light – $250
Used for taking professional photos for the sale of jewelry and will also be used for social media
The 2021 Sample Clothing Line Clothing Line
Upon business funding, a total of $33,000 including taxes will be allocated to Sample Clothing Line’s 2021 Clothing Line. $30,000 will be invested in garments for the company’s primary “Cut and Sew” clothing line, and an additional $3,000 will be spent on wholesale clothing. The company will utilize these materials for Women and Unisex clothing only; subsequently, saving Men’s clothing for their 2022 clothing line.
Starting pieces will be :
- Unisex button up shirt in short and long sleeve lengths
- Womens crop top in short and long sleeve length
- Unisex full length tee shirt and long sleeve shirt
- Biker shorts for women
- The “perfect” crop hoodie – we call it this because it literally needs to be perfect. There are too many crops out there right now to launch anything other than the right material, size, shape and fit.
- Baggy, wide leg, heavy cuffed sweat pants to match our Crop Hoodie
5.0 MARKET OVERVIEW
Overall, there has been significant growth in the Street Style Fashion Industry. We estimate the size of the global streetwear market at $185 billion in annual sales, making it by some estimates about 10% of the entire global apparel and footwear market. Streetwear’s impact – both on retail culture and the numbers involved – has caught the attention of some of the most iconic, established brands in the retail and luxury goods sectors and fashion industry generally. Streetwear players come from various parts of the fashion industry. There are pure streetwear brands, while sportswear names are developing their traditional portfolio of sports equipment into a growing streetwear portfolio with the concept of cool, hip sneakers and hoodies. 3
5.1 Market Segment
The Street Style Fashion market is divided into four segments:
1. Product type:
Footwear is the key driver of purchases. More than half (62%) of consumer survey respondents selected footwear as the product they were most likely to buy, followed by roughly a third (30%) who selected tops, including both T-shirts and hoodies. Only 6% of consumer respondents selected accessories. The general appeal of sneakers and shoes helps to explain footwear’s strong showing. This sector is powered primarily by big players ( Nike , adidas , Puma ) and plenty of smaller labels, bolstered by constant variety (endless collaborations), extreme versatility (shoes can be worn with all manner of clothing) and relatively affordable price points in comparison to luxury clothing.
In contrast to consumers’ reported desires, industry respondents overall reported hoodies, T-shirts and footwear to be their best-selling products at an equal rate. However, when looking specifically at luxury streetwear brands, a higher rate (72%) reported sneakers as their best-selling products, compared with 58% for hoodies and T-shirts. Companies who tactfully introduce sneakers to their product offering can meet the consumer’s demand and enter this market.
2. Cost per product:
Nine percent of North American and European respondents reported spending $500-$1,000 per month on streetwear, while 18% of respondents in Asia reported spending this amount. Meanwhile, 33% of North American and European consumers reported spending less than $100 a month, while only 21% of Asian respondents reported spending less than $100 a month. In terms of average spend per streetwear product, more than half (61%) of respondents from North America and Europe reported an average spend of $100-$300, while 11% reported an average spend of $300-$500. Average spend per product spend jumps significantly when looking at data from Asian respondents. Among Korean and Chinese respondents, 20% reported an average spend of $300-$500. By far, Japanese respondents reported the highest average spend, with 28% reporting an average spend of $300-$500 per product and another 32% reporting an average spend of $500 or more per product. 5
3. Type of Fashion Companies:
These segments include: high street fashion brands, mid-range fashion brands, luxury brands, sportswear brands, footwear brands, e-commerce retailers, freelance creative brands.
4. Regional Interests:
When measuring why consumers like streetwear, North American and European consumer respondents placed higher importance on streetwear’s community aspect in comparison to newer markets, such as Asia. Among North American and European consumer respondents, close to half (40%) indicated community was a key factor, compared to only 12% of respondents in Asia. Meanwhile, almost half (41%) of Chinese and Japanese respondents indicated political statement as a key factor determining why they like streetwear, while only 11% of North American and European respondents reported political statements. 6
Let's Get Started!
5.2 market trends.
ECOMMERCE FASHION INDUSTRY
There are four notable opportunities driving growth in the ecommerce fashion industry:
- Expanding global markets outside the West
- Increasing online access and smartphone penetration
- Emerging worldwide middle-classes with disposable income
- Innovating technologies to create experiential ecommerce
PERSONALIZATION OF PRODUCTS
According to data presented by Nosto at a recent Growing Your Online Funnel Webinar , personalization is a leading factor in ecommerce at large:
- 43% of purchases are influenced by personalized recommendations or promotions
- 75% of consumers prefer brands to personalize messaging, offers, and experiences
- 94% of companies see personalization as critical to current and future success 7
5.4 Competitive Advantage
Sample Clothing Line’s competitive advantage lies in its ability to understand the audience.
5.5 Risk Analysis
The most notable risk factors for the company include:
Inventory Management: If too many pieces of clothing are produced the company may be at a loss. If not enough clothing is produced the company may be seen as a standard streetwear company “creating hype”.
Trend Analysis: In a perfect world the company’s products will represent trends on the rise, and trends in style. However, if the company is selling products that are out of style it may lose appeal and credibility.
Marketing: This is a sensitive area that must be executed carefully. The company’s brand identity and messaging must be in parallel with the target audiences expectations. If at any time the brand is misrepresented, customers may be lost.
Covid-19: Considering the company’s digital strategy, Covid-19 only poses a minimal risk. Sample Clothing Line will continue its digital strategy until Year 3, where two physical brand stores will be opened. At that time the global population will be largely vaccinated, and if Covid-19 posed an additional risks the digital strategy could be continued.
Industry Landscape: The sheer competitive landscape of the clothing industry poses a huge risk to industry players. Sample Clothing Line plans to minimize this risk by offering products that form a cult-like community of customers. The company’s products will be of the highest quality fabrics, sourced sustainably, and designed by local artists and our creative team to satisfy our customers desire to express individuality and unite for social justice.
6.0 SALES & MARKETING PLAN
Our customers’ problem is they feel like none of the standard stores or shopping malls have clothing that suits them. It’s all fast fashion with no soul, or purpose behind it. All the brand logos and clothing items look the same. Our target customer wants a brand they can be a part of, and belong to.
6.1 Target Customer
Our target customer has the following characteristics:
- 18 – 28 years of age
- All genders
- Low-medium income quintile ($35,000 – $45,000)
- Socially conscious, likes to support good causes
- Passionate about music: rap, punk, r&b, hip hop, metal
- Considers fashion as a way to express their personality
- Price conscious with new brands but will buy in once brand trust has been gained
- Cares about outward appearance but not in a materialistic sense
- Either skateboards, snowboards or surfs
- Health conscious and loves brands that provide knowledge on health and wellness
- Cares about shipping prices
6.2 Key Channels
Social Media Marketing: Our young audience lives on social media. By engaging daily on Instagram, Tik Tok and Twitter we plan to build our Sample Clothing Line community. Our competitors have proven that social media is the most effective medium to reach 18 – 28 year olds.
Instagram Ads: Pay per click advertising (PPC), and specifically Instagram ads are an excellent way to grow our customer-base due to the availability of targeted marketing geographically and demographically.
Brand Partnerships: By partnering with other companies to create specialty items we receive visibility that wouldn’t otherwise be there. Brand partnerships are seen as a crucial channel for growth in the Street Style fashion industry.
Muse Marketing: This is our proprietary approach to “influencer marketing”. We want to get away from the term influencer as much as possible because partnering with influencers will lose a great deal of respect from our audience. However, people who have real, influential power will be sources of collaboration for our brand and we will call on them to publicly support us. Through muse marketing we will develop brand advocates that lead people to live a more positive, happy and healthy life, by standing up Sample Clothing Line’s values.
6.3 SWOT Analysis
7.0 FINANCIAL PLAN
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Did you find what you are looking for.
Huge market size, potential profitability, and growth opportunities make clothing and fashion a lucrative business industry to get into.
Well, no matter your fashion or clothing business, you need a well-crafted business plan to launch and stay competitive in the market.
This library of clothing and fashion business plan examples here can inspire and guide you as you begin to plan your business. So, don’t worry; we got you covered on that part.
Let’s learn more about these clothing and fashion business plan samples, starting with their benefits.
Benefits of using an industry-specific business plan example
Believe it or not, using an industry-specific business plan example is the best and probably the quickest way of writing a business plan.
Doubt it? Hold, this may change your perception; an extended list of the benefits of using an industry-specific business plan template.
- Inspiration : Reading a business-specific template can be incredibly helpful in getting content inspiration. Furthermore, it helps you gain insights into how to present your business idea, products, vision, and mission.
- Risk-free method : You are taking a reference from a real-life, let’s say, clothing line business plan—so you know this plan has worked in the past or uses a method subscribed by experts.
- Deep market understanding : Analyzing and reading such examples can provide clarity and develop a deeper market understanding of complex industry trends and issues you may not know but relate directly to the realities of your business landscape.
- Increased credibility : A business plan developed using an example follows a standard business plan format, wisely presents your business, and provides invaluable insights into your business. There’s no question it establishes you as a credible business owner, demonstrating your deep business and market understanding.
- Realistic financial projections : Financial forecasting being a critical aspect of your plan, this real-life example can help you better understand how they project their financials—ultimately helping you set realistic projections for your business.
These were the benefits; let’s briefly discuss choosing a clothing or fashion business plan template that best suits your business niche.
Choosing a Clothing or Fashion Business Plan
This category has multiple business plan templates for various fashion and clothing businesses. With many similar business types and templates, you may not find the most suitable one through manual scrolling.
Here are the steps to consider while choosing the most suitable business plan template.
Identify your business type
Are you planning to start a fashion designing business? Or an online clothing store? Or is it going to be a retail clothing store?
Asking yourself these questions will help you identify your business type, which will help in choosing a niche-specific business plan template.
Once you identify your business type, you can choose between templates for different business segments.
Search for the template
We have an in-built search feature, so you can easily search for a business-specific template using your business type as a key term. Once you have the search results, choose the most suitable one. Simple as that.
Review the example
Look closely at the content of the sample business plan you are considering. Analyze its sections and components to identify relevant as well as unnecessary areas.
Since all the Upmetrics templates are tailored to specific business needs, there won’t be many fundamental customizations. However, a hybrid business model targeting multiple customer segments may require adjustments.
No big deal—you can view and copy sections from other business plan examples or write using AI while customizing a template.
That’s how you find and select the most suitable fashion or clothing business plan. Still haven’t found the perfect business plan example? Here’s the next step for you.
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New Research Center at NC State Will Advance Fashion Industry
By Sarah Stone
A new research center within the Wilson College of Textiles will partner cutting-edge academic research with the real-world experience of textile and apparel executives to tackle the industry’s biggest challenges.
The Fashion and Textile Business Excellence Cooperative (FTBEC) provides companies in the textile and apparel industry with consulting services, training opportunities and articles breaking down industry trends from a research perspective.
It’s the brainchild of Professor Ellie Jin , who first noticed the need for this type of resource over a decade ago. She says joining the Wilson College provided her with the perfect chance to turn her goals into reality.
“A center like this really needs to exist in the right environment with adequate resources in order to thrive. The Wilson College of Textiles is a natural fit for FTBEC because it is the world’s leading college of textiles with impressive resources as well as a supportive, successful alumni network.”
Jin, also co-directs the college’s brand management and marketing (BMM) program – a concentration within its B.S. in Fashion and Textile Management – and believes the new cooperative will be mutually beneficial for both members of industry and current Wilson College students. She envisions groups of BMM students collaborating with the cooperative’s industry clients on semester-long projects.
Where did the idea for FTBEC come from? What inspired you to start it?
If marketing, branding and management challenges arise in apparel and textile companies, who can industry members turn to? I started FTBEC because I felt there was not an adequate answer to that question. While there were some consulting companies out there, very few specialized in the apparel and textile industries. And when it came to research centers on university campuses, most specialized in retail but not the broader apparel and textile industry.
I also came up with FTBEC as a way to provide more hands-on learning opportunities for our brand management and marketing students. Through participation in the cooperative, students will have the opportunity to apply what they’ve learned in traditional lectures and class discussions in a real-world setting.
What topics does FTBEC specialize in?
We handle diverse topics in the branding, marketing and management side of apparel companies, and we can address issues or challenges in both domestic and global markets. For example, we can help U.S. apparel companies examine their brand acceptance in a foreign market and entry strategies.
Who else is currently part of the cooperative?
All of our brand management and marketing faculty . Eunice Lee, director of footwear innovation for Nike and Wilson College alumna, is also joining our team to add an industry perspective.
How do you hope FTBEC impacts the industry?
I envision that FTBEC will create a positive impact on the industry by connecting industry, academia and students. FTBEC is the first of its kind in terms of a cooperative in the textile and apparel industry and discipline at the university level.
I hope FTBEC is the pioneer and go-to academic cooperative that fosters industry advancement and helps executives and entrepreneurs make informed decisions based on data.
How do you think having this cooperative on campus will impact the educational experience for students?
It will help students greatly enrich their problem-solving, analytical and strategic thinking skills. Through industry projects, students will be able to actively engage in solving a company’s challenging issues. Solving an industry’s challenging issues requires an application of what they’ve learned to a real-world setting.
Such industry project opportunities are rare especially in the management side of textile and apparel industry/discipline; it will be a superb educational experience that distinguishes our program from peer institutions.
What are your goals for FTBEC moving forward?
I hope to have more apparel/textiles companies engaged in FTBEC. I believe companies may have common interests and challenges, which can be solved collectively, so I’m really interested in developing a conference to showcase our solutions.
Want to get involved?
Students: FTBEC recruits students as needed to industry projects once the details of the project are finalized.
Faculty and staff from other universities: If you are interested in working with FTBEC, please email us at [email protected] .
Industry members: Student projects, training and consulting research require thorough planning and coordination, so please contact us early.
NC State faculty: If you are interested in writing short articles on implications of your research and industry trends, please let us know by emailing Dr. B. Ellie Jin ( [email protected] ), founding director of FTBEC.
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Get ready to buy Shein clothes in Forever 21 stores
- Fast-fashion retailers Shein and Forever 21 are partnering up.
- The partnership allows Forever 21 to sell merchandise on Shein's site, and Shein products could be sold in Forever 21 stores.
- The move expands Shein's efforts to build its marketplace offerings beyond Shein-manufactured clothing.
Shein , the Asian e-commerce behemoth, is joining fast-fashion forces with Forever 21.
The two retailers have partnered up to sell each other's merchandise, The Wall Street Journal first reported . The partnership will allow Shein to sell Forever 21 products on its website, and Forever 21 to add Shein sections in-stores, where customers could also return Shein items.
The move furthers Shein's efforts to expand its offerings so it's "less reliant on ultra-cheap apparel," retail analyst Neil Saunders, managing director of GlobalData, told Insider over email.
In recent months, Shein has added third-party retailers to its site. It sells the third-party merchandise, such as home appliances and tech products, alongside its own clothing — positioning Shein to become an Amazon Marketplace of sorts.
"While Forever 21 isn't premium, it is a credible brand that adds more fashion heft to Shein's offer and may help attract some new consumers," Saunders wrote. "Shein will also hope that the addition of a well-known American name will help to lessen focus on its manufacturing practices, which have come under scrutiny."
Despite facing criticism for its manufacturing practices , Shein has grown to become one of the largest fast-fashion retailers in the U.S. The partnership could give Forever 21 exposure to a significant number of new consumers across the US and the globe, Saunders wrote. Shein's website reaches 150 million users, according to the company.
"Although both companies stand to make gains, Shein has an advantage as it is operating from a position of strength and is already taking share away from Forever 21, and others," Saunders wrote. "Comparatively, this is something of an admission by Forever 21 that it is not able to engineer growth in its own business in the way that it would like. There is an element of 'if you can't beat them, join them' in Forever 21's thinking."
Sparc Group, a joint venture of Authentic Brands Group and Simon Property Group, operates Forever 21. Authentic, Simon, and Brookfield Property Partners bought Forever 21 out of bankruptcy in 2020 . The retailer has more than 540 locations globally.
This deal with Forever 21 could set Shein up for future partnerships with other retailers, WSJ reported. In addition to Forever 21, Sparc's portfolio includes fashion retailers Lucky Brand and Aéropostale; athletics brand Reebok; and lifestyle and outdoor brands, including Eddie Bauer, Brooks Brothers, and Nautica.
"As Shein has taken a stake in the parent of Forever 21, the eventual game plan might be for the eventual takeover of the brand," Saunders wrote.
Shein and Sparc Group declined Insider's requests for further comment on the deal.
Watch: Why the retail industry has its eye on Gen Z
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From wildlife to wardrobes, see Tanzania’s plan to turn a profit on Maasai apparel
- Tanzanian government unveils a strategic plan to diversify its tourism sector by promoting fashion as a significant draw, shifting focus from traditional wildlife-centered attractions.
- Deputy Minister for Natural Resources and Tourism, Mary Masanja, advocates for the conservation and promotion of Maasai ethnic wear as a pivotal component of cultural tourism.
- In a bid to safeguard Tanzania's rich heritage, organizers, including Wonderland Travel, emphasize that cultural artifacts like clothing, music, and accessories must be preserved and handed down through generations.
Tanzania's government intends to promote fashion as a high-potential product for its tourism industry. This will be part of an effort to diversify the country's tourist attractions, which are now mostly concentrated on wildlife.
The deputy minister for Natural Resources and Tourism Mary Masanja, stated, “ We want to see cultural tourism climbing higher. It can turn around our tourism.”
She emphasized Maasai ethnic wear as something that should be conserved and promoted for future generations as well as for tourists. The deputy minister made the comments while attending the Maasai Fashion Night at the Gran Melia Arusha. Ms. Masanja, who was dressed in Maasai women's costume and joined the Maasai traditional dance, was adamant about the need for cultural tourism.
“The government will fully support such initiatives. We should position cultural tourism as top of our priorities,” she explained. The Maasai Fashion Night, which drew a large number of ethnic group members dressed in embellished apparel, is a forerunner to the Maasai Festival, which will be held in Arusha in October this year.
The Festival will be organized by Wonderland Travel of Dar es Salaam, whose CEO and creator Saidi Rukemo stated , "Culture should complement wildlife in Tanzania’s tourism landscape. Today we are celebrating Maasai fashion. Next time, it should be any of our 120 tribes”.
He said that if they are not kept or passed down from one generation to the next, Tanzanian cultural artifacts like music, clothing, and artifacts may be lost. An exhibition of embellished Maasai cultural artifacts, including headdresses, necklaces, earrings, and ankle bracelets, took center stage at the fashion show.
Some supporters of the campaign traveled to the vibrant celebration from as far away as Houston, Texas in the United States of America (USA).
Recently, after drawing an extraordinary number of tourists, T anzania was ranked second in Africa for tourism performance, second only to Ethiopia, according to a report seen in The Citizen, a Tanzanian news publication. More than 400,000 visitors were recorded between January and March of this year compared to 250,000 in the first quarter of 2022.
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Rishi Sunak says airlines must help stranded passengers after ‘dodgy flight plan’ caused meltdown – as it happened
Rolling live news coverage of business, economics and financial markets as disruption to UK air travel continues into third day
- 1d ago Closing summary: Air traffic disruption eases; no widespread 'greedflation' says BoE
- 1d ago US economy grew slower than thought in second quarter
- 1d ago Prime Minister: Airlines must carry out duty to stranded passengers
- 1d ago Danish wind giant Ørsted shares plunge after warning of billions in extra costs
- 1d ago Housing market slowed in July as mortgage numbers dipped - Bank of England
- 1d ago Shares in fashion retailer Superdry suspended
- 1d ago Air traffic controller: system collapsed because it 'didn’t recognise a message'
- 1d ago Airline costs from air traffic control failure could reach £100m - former BA boss
- 1d ago EasyJet to run extra flights after air traffic control collapse
Shares in fashion retailer Superdry suspended
Fashion retailer Superdry has suspended its shares on the London Stock Exchange because of a delay to its accounts, blaming problems with “normal procedures” for the failure to report on time.
It is just the latest issue for Superdry, which has struggled over the last five years . As well as the pandemic and the shift away from high street stores, retailers are now facing the cost of living crisis after a damp summer.
In early 2018 its share price was above £20. Before the suspension its share price was 56p.
The company said:
Under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, the Company is required to publish its audited full year 2023 results by 29 August 2023. The Company is currently working with its auditor, RSM UK Audit LLP, to complete the final technical points of the audit of its full year 2023 results and expects to announce later this week. The board confirms that the delay is a result of normal procedures taking longer than anticipated during the first year that RSM are auditing the company.
Rolfe has been asked about delays to investments in new systems.
He said Nats invests £100m a year, and the piece of the system that failed was replaced only five years ago.
Asked if Nats should pay for the failures, or if he should lose his £280,000 bonus, Rolfe said there are well established processes for working out who pays.
On his pay, he says he has been focused on getting people to their destinations.
If we receive an unusual piece of data, a piece of data that we don’t recognise, it is critically important that that information, which could be erroneous, is not passed to air traffic controllers.
Air traffic controller: system collapsed because it 'didn’t recognise a message'
Martin Rolfe, chief executive of Nats, the UK’s air traffic controller, has apologised for the collapse and said that part of the system collapsed because it “didn’t recognise a message”.
Rolfe told the BBC’s Today programme that it was “absolutely not correct” that the whole of the UK’s air traffic system went down. The UK lost a “part of the system”.
I would like to offer my sincere apologies. We worked absolutely as quickly as we could to make sure we could safely restore the service.
Almost all the time it handles it absolutely perfectly. In fact, this is staggering, in the sense that it is incredibly rare. And we make it our business to make sure it is incredibly rare.
Willie Walsh said said he finds it “staggering” that a single corrupted flight plan could have caused the collapse of the whole air traffic control system.
If it is true it demonstrates a considerable weakness that must have been there for some time. I’m amazed if that is the cause of this.
Willie Walsh has said the UK’s air traffic controller, Nats, should bear the costs related to the delays and cancellations.
Airlines can afford the costs. Since the end of the coronavirus pandemic restrictions airlines have made huge profits: Walsh’s old employer, British Airways owner International Airlines Group (IAG), made profits of £1.1bn in the first half of the year . But Walsh is using the opportunity of the Nats failures to argue for a major change in rules on who compensates passengers.
I believe there is a great opportunity for the UK post-Brexit to look at the way passenger compensation is dealt with to ensure that the people who are responsible for delays and cancellations ultimately bear the cost – and it’s borne by them, not passed on to other players in the system. At the heart of this is a failure that should not have happened. Nats have a lot of questions to answer.
Airlines boss Willie Walsh said the airlines are unlikely to be able to recoup any of the costs from Nats.
It is fair to say he is not happy with Nats , the private company that runs the UK’s airspace.
He told the BBC’s Today programme:
This is what really frustrates and angers airlines. This was completely outside the control of the airlines and yet airlines are subject to paying customers for delays, for cancellations, for looking after them, which is very considerable. It’s very unfair because the air traffic control system that was at the heart of this failure doesn’t pay a single penny.
Airline costs from air traffic control failure could reach £100m - former BA boss
The airline industry will bear costs of as much as £100m because of the UK air traffic control collapse on Monday, according to the former chief executive of British Airways’ owner who now leads the industry’s lobby group.
Willie Walsh, director general of the International Air Transport Association (Iata), said that 1,100 flights were cancelled and hundreds of thousands of passengers had their journeys affected.
He told BBC Radio’s Today programme:
We’re looking at costs in the tens of millions, probably at this stage – too early to estimate fully – but I would imagine at an industry level we’ll be getting close to £100m of additional costs that airlines have encountered as a result of this failure.
European stock markets have edged up at the opening bell, with the UK’s FTSE 100 up by 0.2%, in line with its peers.
Insurer Prudential is the biggest FTSE 100 gainer, up 2.5% after publishing half-year results which showed increased profits.
Here are the opening snaps from across Europe, via Reuters:
EUROPE’S STOXX 600 UP 0.2%
FRANCE’S CAC 40 UP 0.3%, SPAIN’S IBEX UP 0.2%
EURO STOXX INDEX UP 0.2%; EURO ZONE BLUE CHIPS UP 0.2%
GERMANY’S DAX UP 0.2%
EasyJet to run extra flights after air traffic control collapse
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EasyJet has said it will put on five repatriation flights to ensure stranded customers can get home as disruption from the collapse of UK air traffic control systems continued for a third day.
The failure of the air traffic control system , run by private company Nats, has been blamed on a single corrupted flight plan entered by an unnamed airline, according to reports.
Martin Rolfe , the chief executive of Nats , the national air traffic service, said the company has “worked incredibly hard since we restored the service back on Monday to make sure that this type of event can’t happen again”.
In interviews with the BBC, he said:
Clearly we live in a world where things like this occasionally do happen. The vast majority of them are fixed and nobody notices, no one is disrupted. Very occasionally we end up with a situation which isn’t possible to fix immediately. While I agree it is absolutely not the service that we would ever want to provide, our absolute core is providing a safe service that gets everybody to their destination.
In a statement last night, easyJet said:
During this traditionally very busy week for travel, options for returning to the UK are more limited on some routes and so easyJet will be operating five repatriation flights to London Gatwick over the coming days from Palma and Faro on August 30, and Tenerife and Enfidha on Thursday August 31 and from Rhodes on Friday September 1. We are also operating larger aircraft on key routes including Faro, Ibiza, Dalaman and Tenerife to provide some additional 700 seats this week.
9:30am BST : UK Bank of England consumer credit (July; previous: £1.66bn; consensus: £1.3bn)
9:30am BST : UK Bank of England mortgage approvals (July; prev.:54.7k; cons.: 51k)
10am BST : EU economic sentiment index (August; prev.: 94.5; cons.; 93.7)
1:15pm BST : US ADP national jobs created (August; prev.: 324k; cons.: 195k)
1:30pm BST : US GDP second estimate (Q2; prev.: 2.4% annualised; cons.: 2.4%)
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Credit Card Companies Urged by Senators to Cancel Plan to Raise Swipe Fees
Senators are urging credit card giants Visa Inc. and Mastercard Inc. to cancel plans to raise their swipe fees charged to retailers and used reports on the plans to champion their bill to force competition in the industry.
Dick Durbin, the No. 2 Senate Democrat, and Roger Marshall, a Kansas Republican, the lead sponsors of the Credit Card Competition Act, said Wednesday that the companies were already raking in fees that contribute to inflation.
“With small businesses and families already dealing with high prices on groceries and gasoline, this hidden credit card fee increase couldn’t come at a worse time,” the senators said in a statement.
Their measure would require the largest banks to offer a choice of networks for processing transactions, including one outside of Visa or Mastercard. Durbin successfully helped enact legislation in 2010 that led to much lower fees for debit card transactions.
Read More: Visa, Mastercard Plan to Add New Card Fees in the Coming Months
The swipe fee battle has already resulted in fierce lobbying, given the legislation’s potential to crimp revenue for the payment giants and for banks, while benefitting retailers, though it’s not clear if the issue will advance in this Congress.
The Nilson Report, an industry publication, found that merchants paid out $160.7 billion in swipe fees last year, while the merchant-consulting company CMSPI estimated the new fees could cost them another $500 million a year.
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