Launching a Label
It seems like everyone these days has their own label. From Jennifer Lopez and her Sweetface moniker to The Olsen Twins and their high-end Elizabeth & James line, becoming a fashion designer appears to be easier than ever. And if you have the talent, creating the line might just be effortless for you. But launching a collection that is successful with the general public is a highly competitive arena.
Starting your own label is less glamorous than it looks. It’s not just about channeling your creative genius into items that will pass the Hot or Not test. To successfully launch your label into the world, you must master the art of sales and marketing.
Before the thought of your own label comes to mind, you have to first know who you are and where you stand in the marketplace. Know who your target audience (who is going to buy the line?) will be. Your label is a representation of you so your personality matters and must translate well. Once you have a market in mind and a sense of where your line will lie on the landscape, getting samples created is key. Having samples made is not an easy feat with many designers spending between $10,000 and $20,000 to do so. And because there is little to no venture capital in fashion due to the slow return on start-up businesses, much of this cost is usually absorbed by the designer themselves. While some designers build debt and spend their life savings to do this, others with superb sewing and knitting skills can do the work themselves, saving tremendous amounts of money. If you choose to do this, make sure your garments look professionally cut and finished and are presentation ready. No pins, no folds, and no threads out of place.
Once your samples are created, you have to determine your target price point. This part can be easily summed up by a formula. How much would you pay for the item? Factor in time spent producing the garment and the cost of materials. Tack on a little extra for profit and you’ve got your price tag.
Now you have a collection and you know where you fit in the marketing landscape. You have a target audience and a price tag. Where do you sell it?
Getting the word out can be difficult and for each opportunity there is a mass of other designers hoping for the same outcome. Use your connections, if you have them. Know someone in the industry? Get their feedback. Ask if you could present samples to people they know. Try to get some editorial coverage through local newspapers and magazines. You never know what boutique or buyer might see the publicity and want to meet you and see your designs.
Some boutiques like Henri Bendel in New York City have what they call Open-See events. Henri Bendel, known for fostering up-and-coming designers, holds twice yearly events where they invite labels to show their items at a “first come, first seen” basis. If a piece or pieces in your collection are chosen, Bendel will include them in trunk shows or even place them for sale in their 5th Avenue store.
Launching a label is exciting. It’s the culmination of lifelong dreams. But it takes an entrepreneurial spirit, business sense, and determination to truly be a success.
