There has never been a better time to start a clothing business. Market segments involving menswear and womenswear continue to see growth in the industry. The clothing consumers decide to wear can define a personality through fashion. We have analyzed some of the best clothing brands to provide you with the insight needed to grow your brand. If you follow these 3 strategies, you can grow your clothing business and take your brand to the next level!
1. Give Your Clothing to Influencers for Exposure
In the clothing business, consumers want to see who is wearing the brand and how they pieced together their outfits to style clothing from your business with other garments they have in their closet. FUBU is a black-owned company that got its name on the streets by giving its clothing to influential Hip-Hop artists like LL Cool and Nas to get exposure for their brand in the early days of their business. This allowed FUBU to receive exposure from their ideal target market whenever these artists wore the clothing to concerts, parties, interviews, or even social media.
Starting a new clothing business can be difficult, but giving your clothing to influencers for exposure will allow your designs to be noticed by your ideal target market to make consumers aware of your brand.
2. Execute an Integrated Marketing Communications Campaign
Marketing your business should be self-explanatory. Mediums like social media, TV and online articles can be a great resource to promote your brand to the ideal target market. However, you should understand that an integrated marketing communications plan will allow you to coordinate your efforts properly to position your brand, values, messaging, and tone while executing a campaign. The Nike 'Just Do It' campaign is one of the most iconic integrated marketing communications campaigns executed in the fashion industry. Through marketing, advertising, and public relations this campaign was a success when they launched this in 1987.
Entrepreneurs in the fashion industry should recognize that an integrated marketing communications campaign is vital to the success of your brand in the market.
3. Focus on Profit First
From our experience, most clothing brands go out of business in the first 2 years because they don't understand the importance of cash flow management. Profit should always be your priority regardless of how much money it is going to take to start and grow your business. True Religion was a prestigious brand that had to file for bankruptcy because it had high operating costs and debts with an unhealthy balance sheet. In business, you must understand accounting whether you like it or not because the first few years of operating a business can lead to either success or failure if you can't comprehend a profit and loss statement.
Although most start-ups don't profit for their first few years in business, the fashion industry has more options now that allow for a clothing business to start and grow their business through a Webstore & Fulfillment Service that allows for a 'Drop Shipping' business model to focus on profit first.
If you're looking to start a clothing business, the time is now! Don't overthink the process, instead consult with our team of professionals at Tagit Express to help you plan everything from starting or growing your brand in the fashion industry.
With over 10 years of experience, Allister Guerra will guide you along the right path to ensure you thrive within your clothing business