Fashion has ceased to be a superficial topic to become a vehicle for expressing people’s concerns, personalities, and statements. The market value of the fashion industry in the United States alone reaches 406 billion dollars and employs 1.9 million people, according to Fashion United, figures that represent 4% of the country’s economic activity.
Imagination, innovation, and creativity are a fundamental part of entrepreneurship in the fashion industry, but they are not the only aspects you need to pay attention to. Making a business plan, establishing your operation and sales format, developing your administrative structure, and identifying your promotional channels are issues that require time and hard work. Another relevant factor is financing; if you do not have savings, learn about the best business loans for women and achieve your personal and professional goals.
The future of the fashion industry
Fashion brands have found in e-commerce their main ally in recent years, with social commerce being one of the most important trends, especially during 2020 and 2021 due to the covid-19 pandemic, and it is expected that by 2022, it will continue to give excellent results. Another of the industry’s preferences has been the circular economy, which uses the recovery of textile products to produce new garments, thus reducing the environmental impact.
Benefits of starting your own fashion brand
Entrepreneurship is the opportunity to achieve economic independence and financial and emotional stability and makes it possible to achieve professional and personal goals. Being your boss in the fashion industry will allow you to unleash your creative and artistic abilities; remember that clothing is not only a staple item, it is an extension of our personality.
But entrepreneurship in the fashion industry does not necessarily imply becoming a fashion designer. You can be part of the production chain at different stages, from textile production, through shipping and logistics systems, custom buying, tailoring, e-commerce, modeling agencies to dropshipping garments from other brands, to name a few.
Inspiring examples of big fashion companies in their beginning
Great success stories begin with dreams that seem impossible to fulfill but based on effort, discipline, and hard work, results have been achieved that have changed the industry’s history and even the world. If you do not have the capital to achieve your goals, use business loans for women to do it. Be inspired by the examples of these successful women in fashion.
- Vera Wang: is a fashion designer that was born in New York. Without formal design studies, she worked at Vogue as an editor and at Ralph Lauren as a design director. Years later, she opened her own boutique and launched her brand of wedding dresses shortly after. Today she is an icon of haute couture worldwide.
- Erica Zohar: was born and raised in Miami, a resident of Los Angeles, she began designing sportswear when she went to the gym. She exhibited her work at a trade show in New York and the results were gigantic; stores like Bloomingdale’s began placing orders. Her brand, American Groove, is one of the most influential companies and was forged thanks to its founder’s theoretical and practical training.
- Kate Spade: was born in Missouri, moved to New York to pursue her dreams, became a fashion editor and head of accessories for Mademoiselle magazine. After a few years, she decided to start her own handbags. Kate Spade, New York company, has 42 physical stores, and its products are sold worldwide.
- Isabel Marant: is a Parisian designer who has achieved international success by identifying that fashion goes from head to toe. Willow shoes revolutionized the world of footwear and became a point of reference for hundreds of designers. Among the celebrities who have worn her designs are Kate Bosworth and Sienna Miller.
Women’s entrepreneurship directly benefits the economy of all countries, generates jobs, and consolidates companies with greater empathy, social commitment, and above all, better labor policies. Do not allow your capabilities to be limited by lack of capital, get business loans for women, empower your ideas and establish the company you always dreamed of.