The British Fashion Council in collaboration with the London Business School recently released a report commissioned highlighting the importance of commercial guidance and specialist business partners for up and coming designers.
The report, which is entitled “Commercialising Creativity – Creating a Model for Success for British Fashion Designers”, initially defines the three dimensions of success within the designer fashion sector, as
“1. Creative acclaim (how the designer’s creativity is perceived)
2. Communications perception (public profile and awareness);
3. Commercial acclaim (how much sales and profits the designer generates).”
In setting out the essentials of Product Development, Brand identity, Business Strategy and Planning, marketing, PR & communications, Manufacturing, Sales and distribution, Funding and financing, the report also includes case studies on the success behind British designers Nicholas Kirkwood and Mary Katrantzou and the authors’ views on how British global brands Jimmy Choo and Stella McCartney found their unique selling points. You can read the report in its entirety here
The British Fashion Council’s report’s seven key recommendations to designers are:
- Behave as a business
- Recognize the importance of product development
- Develop the brand’s identity and support it with a marketing and communications plan
- Understand and address the challenges of production
- Develop a focused sales and distribution strategy
- Understand the importance of cashflow, funding and financing
- Secure specialist business partners
Leave a Reply
You must be logged in to post a comment.