Temptation Island

Ok lets face it...folks in the fashion industry can be very particular. We create these brands and we care about them...we want to protect them and we don't want to leave our "babies," with just any ol' retailer.

That means we have to discriminate, a bit when it comes to picking the stores we sell to. No matter how tempting it may be to imagine how black a new account could make our financial statements-- selling your brand too short...too soon can have a detrimental effect that just won't pay off.

Let me tell you a little story to illustrate my point....

A client of mine had these aspirations of creating a high end luxury lifestyle brand. She imagined her stuff in the windows at Barneys, on the racks of the finest boutiques, on the homepage of international online retailer net-a-porter.com. Her vision was crystal clear in her mind. She believed in it and was excited to see it come to life....

But as she sat at her first trade show she watched buyer after buyer pass her by... they'd glance...comment, maybe even take a few pictures... They seemed interested but they weren't buying....what was she supposed to do?

On the last day of the show, a slightly more mainstream department store paid her a friendly visit. They were interested and ready to write an order.

I mean they were by no means a luxury brand....but one order from them alone could pay for the cost of her show, save her from hustling for more accounts when she needed to be designing and even allow her to give her consultant (me), a much needed bonus for all my dedication.. hard work, brilliant insight and commitment... (I know that's right;).

And as much as I wanted and so deserved a little extra padding in my pocketbook I had to keep it real. The department store deal didn't make sense. Of course we had the option of revising the strategy...adjusting our pricing, going slightly more mainstream--- but it was only her first trade show. Was it really the time to sell out? Was an offer from one vendor offer enough to constitute a total change of plans?

Maybe eventually but not initially.

As you develop your brand you will sometimes have to resist the temptation of big business money...and just give yourself a chance to grow.

I advised that she stick to the program....the brand she wanted...the one she believed in....and the brand she worked hard to create with everything from imported fabric to the paper linen hangtags she loved that made for the perfect finishing touch.

So she took my advice and decided against the major retailer. However, soon after the tradeshow she was able to acquire about 10 niche brand building boutiques that were interested in finding the next big thing...not just stuff that was sold in (nose in the air)... mid-tier department stores!

Now keep in mind the orders of those 10 stores didn't even add up to the one order she turned down.

However--she wasn't trying to host a thanksgiving day clearance sale--she was trying to build a brand. That takes time. And that means being strategic as well as pacing yourself.

Soon after she acquired her first 10 stores without a showroom she was picked up by one of the top international showrooms for her product category...who has since been able to place her in niche boutiques all over the world. A lot more brand appropriate than being sold off to the highest bidder.

She's since been featured as a top emerging designer in major fashion organizations and publications including Vogue...Not her hometown paper but...Vogue.

The moral of the story--If you have a vision for your brand let people help you refine that vision but don't ever throw it out the window based on one tempting proposition.

If only for a little while...just believe--trust your gut and see what happens. It could be better than you've ever imagined.

For Names Sake....

Fashion Business Inc. founder, Frances Harder made an interesting point at her Brand Building seminar.

"When launching your brand try to avoid using your own name," she cautions her audience. "What happens if you go bankrupt, or get bought out? You've just lost your name forever."

While it may be tempting to see your name in lights, considering the possible consequences may just lead you to change your mind.

But, hey...if you love your name so much....and can't think of one for your business that you find just as interesting maybe you can call mom and dad for some tips. Just an idea...

Say NO More....

I taught a web marketing seminar this Thursday hosted by Fashion Business Inc. located in“lovely,” downtown LA. One of the audience members whom I'll refer to as "George," asked the pointed question "Do retailers get upset when a wholesale company they buy from decides to sell online?"

This is something I’ve been asked time and time again….and something I’ve had to personally address as an Ecommerce project manager. It’s a very rational assumption, and if you’re a smart business person trying to cover all your bases it is definitely a reasonable question to give a thought to. “A Thought” notice the singular tense. I thought of answering that question with one word which would have been “NO," but of course I had to elaborate.

So, Let’s think about this….. I’m a loyal retail buyer, purchasing your product by the hundreds...so why in the world do you feel like you need to open a fabulous online store that will make MY customers drop me like a wet rag and buy from you?. .

The good thing is most retailers aren’t that insecure. Their store is about an experience they create which your product is only a portion of. The essence of a good boutique is the collection….where the buyer produces something where the whole is bigger than the sum of all parts.

Think about Intermix, Scoop, Shopbop. These successful stores’ merchandise mix, marketing and presentation make them successful. Whether or not you decide to sell on line is typically not an invasion on their customer or the sales of a particular product. Between the stresses of running a retail store they really shouldn’t even have time to give a damn. (excuse my french;)

Recently many luxury wholesalers such as Bottega Venata, Gucci and Diane Von Furstenberg have gotten the picture and pulled the veil off of their online stores.

Selling online has become a great branding technique and is also a revenue stream in the sense that transfers you into becoming a multi channel enterprise. In short Ecommerce can be a phenomenal way to strategically grow your business.

We did talk about it quite a bit. "George," understood and followed up with this question. ”What about taking about selling it for like 10% less than other retailers since you have a bigger margin???” My gosh “George,” just wanted it all. Now that my friend is equivalent to launching a website that has your middle finger on the front of it...then sending it to all of your current and prospective accounts. The answer to that question…..is actually four words “no…no and absolutely not.” And I'll say no more about it.