• Latest
  • All
  • Lifestyle
  • Events
  • Insights
  • People
  • Voice
  • CSR
6 Tips for Building a Profitable Fashion Business

6 Tips for Building a Profitable Fashion Business

25/05/2019
Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4

Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4

25/01/2021
Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses”

Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses”

25/01/2021
Pavilion KL Made It Into The M’sian Book Of Records By Displaying The Biggest Golden Bull!

Pavilion KL Made It Into The M’sian Book Of Records By Displaying The Biggest Golden Bull!

22/01/2021
This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months!

This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months!

21/01/2021
Inisiatif Prihatin Banjir For TEKUN Entrepreneurs Who Are Affected By The Floods

Inisiatif Prihatin Banjir For TEKUN Entrepreneurs Who Are Affected By The Floods

20/01/2021
Selangor Announces Pakej Kita Selangor To Deal With The Challenge of The MCO 2.0

Selangor Announces Pakej Kita Selangor To Deal With The Challenge of The MCO 2.0

20/01/2021
WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

No Result
View All Result
WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

No Result
View All Result
WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

No Result
View All Result

6 Tips for Building a Profitable Fashion Business
  TRENDING
Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4 25/01/2021
Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses” 25/01/2021
Pavilion KL Made It Into The M’sian Book Of Records By Displaying The Biggest Golden Bull! 22/01/2021
This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months! 21/01/2021
Inisiatif Prihatin Banjir For TEKUN Entrepreneurs Who Are Affected By The Floods 20/01/2021
Next
Prev
Home Insights

6 Tips for Building a Profitable Fashion Business

Here are some of the most useful tips:

23/05/2019
WargaBizbyWargaBiz
in Insights
4 min read
136
SHARES
Share on FacebookShare on Twitter

MBA students at the London Business School wrote The Commercialisation Creativity Report to understand the biggest challenge the best strategy for fashion entrepreneur. Alejandra Caro and Alessandra Basso speak with 19 designers, 14 retailers, 16 advisors and 5 PRs and media representative.

This report sets a guide to help young designers build a respected company for their creativity, having a high profile and earning profit. Here are some of the most useful tips:

1. Think like an entrepreneur

6 Tips for Building a Profitable Fashion Business

To build a successful label, you need to think like an entrepreneur from the beginning. This means understanding how the business works and arranging a plan that is meant for short, medium-term and long-term goals. Once your company is up and running, build a solid relationship with the manufacturer, buyer and investor with consistency and honest about what you are doing.

2. Understand the importance of product development

6 Tips for Building a Profitable Fashion Business

Smart small – introduce one product line only and expand the brand from there. Setting the right price for your product is important in finding success. Work by starting with the amount that customers are willing to pay. Then, calculate how much you need to spend on materials and manufacturing while still gaining profits.

3. Have a strong vision of your brand identity

6 Tips for Building a Profitable Fashion Business

It is important to set your brand identity from the very beginning. Young designers need to understand who they really are and why they start their own business.

RelatedPosts

Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4

Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses”

This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months!

Start with a marketing plan that determines the customers you are targeting and how you will approach them. Consider PR – PR is a useful tool to support designers and bring their work to wider audience attention.

4. Understand the production challenges

6 Tips for Building a Profitable Fashion Business

New businesses are often rife with production. Order small amounts, which makes you in a weak bargaining position. The suppliers may ask you to deposit an amount before you receive a payment from the retailer. This may be difficult, but it’s important to pay quickly so that the production is not delayed.

5. Know how to get the buyer’s attention

6 Tips for Building a Profitable Fashion Business

To succeed, you need to get the buyer’s attention. Tell them the uniqueness about your product. If you are planning to sell online, find out that the colourful and printed products are usually the most popular. Any outfits that are unusual will be a tough sell on the website.

6. Understand the importance of cash flow and financing

6 Tips for Building a Profitable Fashion Business

One of the biggest challenges you’ll face as a new business is cash flow – for product and manufacturing development. You need to know where your funding comes and ensure your finances are in control, so think carefully.


6 Tips for Building a Profitable Fashion Business

Dato Asfarena Samion is the founder of Arena Fashion & Design Institute (AFDI). She has been actively empowering women from B40 group especially housewives in mastering tailoring skills. Read her story here.

Share71Tweet27


Previous Post

Huawei Faces Android Ban: Should You Be Worried?

Next Post

Green Matrix is Now A Hub For All Car Rental Providers in Malaysia

Related Posts

Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4

by WargaBiz
8 hours ago
0
Challenging Times Ahead For Small Businesses If Govt Imposes Full-Scale Lockdown By Feb 4
Insights

None of us wants to repeat the total lockdown, but with daily Covid-19 cases consistently in the 3,000-4,000 plus range,...

Read more

Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses”

by WargaBiz
9 hours ago
0
Flexible SOPs During MCO 2.0 Is Not To Take Care Of The “Big Bosses”
Insights

He said if the big boss loses due to the factory not being in operation, then in the end the...

Read more

This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months!

by WargaBiz
4 days ago
0
This Foodpanda Rider Revealed That He Made Over RM18K In Just 2 Months!
Insights

Based on the posting, undeniably the rider need to work an average of 12 hours a day and earn an...

Read more

Selangor Announces Pakej Kita Selangor To Deal With The Challenge of The MCO 2.0

by WargaBiz
5 days ago
0
Selangor Announces Pakej Kita Selangor To Deal With The Challenge of The MCO 2.0
Insights

Selangor Menteri Besar Datuk Seri Amirudin Shari said that the state is expected to spend RM 73.87 million for "Pakej...

Read more

Permai: Bank Loan Moratorium & Reduction of Repayment Instalments to Continue

by WargaBiz
1 week ago
0
Permai: Bank Loan Moratorium & Reduction of Repayment Instalments to Continue
Insights

For borrowers facing difficulties in dealing with banks, Bank Negara Malaysia and the Credit Counselling and Debt Management Agency (AKPK)...

Read more

Permai: Govt To Provide A One-Off Financial Assistance of RM500 To Taxi & e-hailing Drivers

by WargaBiz
1 week ago
0
Permai: Govt To Provide A One-Off Financial Assistance of RM500 To Taxi & e-hailing Drivers
Insights

The Permai assistance package has included an initiative to help tourism industry players who were badly affected by the COVID-19...

Read more

Govt Will Expand The Prihatin Special Grant Plus To Cover 500,000 SMEs Under Permai Scheme

by WargaBiz
1 week ago
0
Govt Will Expand The Prihatin Special Grant Plus To Cover 500,000 SMEs Under Permai Scheme
Insights

To assist the cash flow of micro-enterprises and SMEs, the government will expedite the implementation of micro-credit schemes that had...

Read more

Banks Ready To Offer Repayment Assistance Including Extending Existing Moratorium

by WargaBiz
1 week ago
0
Banks Ready To Offer Repayment Assistance Including Extending Existing Moratorium
Insights

The associations said all other borrowers and customers facing difficulties in making loan or financing repayments are also welcome to...

Read more

TH Appoints Wan Enderi As The New GM of Movenpick Hotel & Convention Centre KLIA

by WargaBiz
1 week ago
0
TH Appoints Wan Enderi As The New GM of Movenpick Hotel & Convention Centre KLIA
Insights

Wan Enderi said he will strive to further enhance the hotel’s service quality and brand value into the future.

Read more

What’s With Everyone Leave The Messenger Service App? Are Our Private Messages Protected?

by WargaBiz
2 weeks ago
0
What’s With Everyone Leave The Messenger Service App? Are Our Private Messages Protected?
Insights

In just 72 hours after the announcement, Telegram has 500 million users signups and 25 million new users on Signal.

Read more

Next Post
Green Matrix is Now A Hub For All Car Rental Providers in Malaysia

Green Matrix is Now A Hub For All Car Rental Providers in Malaysia

Facebook Instagram

About Us

WargaBiz is Malaysia’s first exclusive one-stop digital business platform to provide comprehensive coverage on start-ups and SMEs helmed by the Usahawan.

Read our full story.

Categories

  • Cover
  • People
  • Lifestyle
  • Insights
  • Events
  • CSR

Tags

achievement achiever America American apple beauty branding business businessman career columnist cover Cover Stories covid-19 CSR Cuisines entrepreneur Entrepreneurs F&B failure fashion father's day Features FIFA World Cup investment japan Klang Valley KLCC Kuala Lumpur Latest lifestyle luxury Malaysia marketing MCO Novelties people Raya specialist success tech technology usahawan Voice watches

© 2017-2019 Warga Media - All Rights Reserved.
Want your site to look as cool as this? Call Mr Hafiz

No Result
View All Result
  • Cover
  • Specialist
  • People
  • Lifestyle
  • Insights
  • Events
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Job Opportunities

© 2017-2019 Warga Media - All Rights Reserved.
Want your site to look as cool as this? Call Mr Hafiz

sponsored