Fashion Industry

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<ul><li> 1. Fashion Industry 101: How to start a fashion line in todays market. Presented by: Global Companies Global Group Showroom</li></ul><p> 2. Before I get started This is a business to make moneyDesign is an art, fashion is about capitalizing on a momentThank you, but we all ready have a Tommy, Isaac, Ralph and Donna You have to decide if you want to be Rich or Famousits hard to do both Good business is the best art.Andy Warhol John Bartlett Isaac Mizrahi John Galliano Michael Kors Marc Jacobs 3. Where to Start </p> <ul><li>Know who you are. State your target consumer, the retailers that will sell your product, your breakeven point, and how youll do your sales. </li></ul><ul><li>Operational plan. How will you develop the line? Find factories? Go into production? </li></ul><ul><li>Marketing the brand. Why should anyone buy your line?</li></ul><p> 4. What you will Need to Decide </p> <ul><li>Who your target market is?</li></ul><ul><li>What are your price points?</li></ul><ul><li>Who will you hang with? </li></ul><ul><li>What retailers fit your market?</li></ul><ul><li>What is your niche? </li></ul><p> 5. Target Market Following the Money Trail 6. Design Concept Following the Money Trail </p> <ul><li>58% of the US population is a plus size consumer </li></ul><ul><li><ul><li>24% are obese </li></ul></li></ul><ul><li><ul><li>12% of children under 12 are obese </li></ul></li></ul><ul><li>38% of the US Population is a baby boomer born between 1946 and 1965 </li></ul><ul><li>40 million Latin's live in the US </li></ul><ul><li>Lingerie and Children boutiques had the highest return rates last year (2005)</li></ul><ul><li>Social occasion stores are showing strong gains </li></ul><p> 7. Fashion Has Very Little to do with it 8. Fashion Forecasting 9. Summer 2005 10. Fashion Books 11. Recycled Fashion 12. Fully Vertical In House Garment Production Design Support Services Patternmaking Prototype Samples Salesmen Samples www.fesslerusa.com 13. Evolution of a Trend 2001 2002 14. 2004 2003 15. Spring 2005 16. Fashion Forecasting 17. Keep it Real You have your own look. A signature style. 18. K.I.S.S. </p> <ul><li>Start small with key pieces </li></ul><ul><li>Donna Karan started with her 7 easy</li></ul><ul><li>pieces collection </li></ul><ul><li>Ralph Lauren started with ties </li></ul><ul><li>Perfect one or two Hot Bodies</li></ul><ul><li>Think Diane Von Furstenberg wrap dress </li></ul><ul><li>Prada nylon black should bag </li></ul><ul><li>Norma Kamali Sleeping bag coat </li></ul><p> 19. Product Development </p> <ul><li>Research on sales &amp; fashion trends </li></ul><ul><li>Planning of line concept</li></ul><ul><li>Development of collection (Flats) </li></ul><ul><li>Order sample fabrics </li></ul><ul><li>Sales projections </li></ul><p> 20. Product Development </p> <ul><li>Technical design </li></ul><ul><li>Patterns </li></ul><ul><li>First samples </li></ul><ul><li>Costing </li></ul><ul><li>Exposure (tradeshows, markets,) </li></ul><ul><li>Fabric orders placednot confirmed </li></ul><ul><li>Preproduction planning (fit test done) </li></ul><p> 21. Product Development </p> <ul><li>Grade patterns </li></ul><ul><li>Orders entered and reviewed for credit </li></ul><ul><li>Cutting tickets projected </li></ul><ul><li>Fabrics ordered </li></ul><ul><li>Production </li></ul><p> 22. Product Development </p> <ul><li>Quality control checked </li></ul><ul><li>Vendor compliance checked </li></ul><ul><li>Collection of pre-payments </li></ul><ul><li>Distribution </li></ul><ul><li>Collection of term accounts </li></ul><p> 23. Production Cheat Sheet </p> <ul><li>Limit the amount of types of fabric you use </li></ul><ul><li>Dont be afraid of minimums</li></ul><ul><li>If you are buying from overseas, ask for the landed price </li></ul><ul><li>Factories are very-specific use them for what they are known for </li></ul><p> 24. Finding a Factory </p> <ul><li>Use a referral service </li></ul><ul><li><ul><li><ul><li>The Garment Industry Development Corp </li></ul></li></ul></li></ul><ul><li><ul><li><ul><li>Garment Contractors Association in LA </li></ul></li></ul></li></ul><ul><li><ul><li><ul><li>Korean Manufactures Association </li></ul></li></ul></li></ul><ul><li><ul><li><ul><li>F.B.I. Fashion Business Incorporated </li></ul></li></ul></li></ul><ul><li>Look up the registration number on a garment </li></ul><ul><li>Contact trade commissions </li></ul><ul><li>Ask fabric suppliers </li></ul><ul><li>Visit sourcing shows</li></ul><p> 25. Fashion Director meets with design teamDesign team presents line at sales meetingConcept #1 Merchandising Dept .Marketing &amp; Promotional Dept.Wholesale Division </p> <ul><li>Input from the different department is taken and line is reworked. </li></ul><ul><li>Pre-production samples are made and fabrics samples are requested.</li></ul><ul><li>Production dates are set </li></ul><ul><li>New styles are added for approval by Fashion Director</li></ul><p>Market WeekLine is shown and sold to key retailers.Information is taken and based on production minimums garments that had the most interest are chosen and samples are made for road reps All orders are processed and the styles are put into production. A detail of best seller styles is reviewed and added to line.Goods begin to arrive at stores follow up phone calls are made from sales team for reorders Based on early selling goods are programmed for 2nd cutting In Stock goods are offered to small accounts.Plans production time and makes samplesCosting is estimatedAllocates production time Buys fabricMakes road rep samplesCosting and technical designs are done Review of design and displays are done at each store Production Reviews events and holiday and programs promotions in accordance Fabric &amp; Trim Sourcing Special request from the retailers are reviewedAny in store signage and advertisement is reviewed with V.M. Dept. Budget is approved by Financial dept.Events and Promotions are presented to stores Support is given to stores in accordance to orders under the direction of the sales manager.An in stock inventory is done &amp; sold to small retailers Fit samples are approved Grading is done Production samples are reviewed for fit and costingChanges are made Orders are reviewed Cutting tickets are doneLine goes in to production Early selling is reviewed and styles are planed for 2nd cutting Costing is approvedBudget and margins are planned. Financial Dept.Visual Merchandiser plans displays and windows. Costing is approvedInformation is gather on sale thru and used for following collection and to re-merchandising the stores.Re-orders are placed Follows up on any problems Makes appointment for next market Inventory is entered and invoices are made Based on terms orders are picked and shipped Credit and term agreements are made Payment is received Margins are reviewed After promotions are compete a review of cost efficiency is done.Fashion Director meets with design teamDesign team presents line at sales meetingConcept #1 Merchandising Dept .Marketing &amp; Promotional Dept.Wholesale Division </p> <ul><li>Input from the different department is taken and line is reworked. </li></ul><ul><li>Pre-production samples are made and fabrics samples are requested.</li></ul><ul><li>Production dates are set </li></ul><ul><li>New styles are added for approval by Fashion Director</li></ul><p>Market WeekLine is shown and sold to key retailers.Information is taken and based on production minimums garments that had the most interest are chosen and samples are made for road reps All orders are processed and the styles are put into production. A detail of best seller styles is reviewed and added to line.Goods begin to arrive at stores follow up phone calls are made from sales team for reorders Based on early selling goods are programmed for 2nd cutting In Stock goods are offered to small accounts.Plans production time and makes samplesCosting is estimatedAllocates production time Buys fabricMakes road rep samplesCosting and technical designs are done Review of design and displays are done at each store Production Reviews events and holiday and programs promotions in accordance Fabric &amp; Trim Sourcing Special request from the retailers are reviewedAny in store signage and advertisement is reviewed with V.M. Dept. Budget is approved by Financial dept.Events and Promotions are presented to stores Support is given to stores in accordance to orders under the direction of the sales manager.An in stock inventory is done &amp; sold to small retailers Fit samples are approved Grading is done Production samples are reviewed for fit and costingChanges are made Orders are reviewed Cutting tickets are doneLine goes in to production Early selling is reviewed and styles are planed for 2nd cutting Costing is approvedBudget and margins are planned. Financial Dept.Visual Merchandiser plans displays and windows. Costing is approvedInformation is gather on sale thru and used for following collection and to re-merchandising the stores.Re-orders are placed Follows up on any problems Makes appointment for next market Inventory is entered and invoices are made Based on terms orders are picked and shipped Credit and term agreements are made Payment is received Margins are reviewed After promotions are compete a review of cost efficiency is done.Fashion Director meets with design teamDesign team presents line at sales meetingConcept #1 Merchandising Dept .Marketing &amp; Promotional Dept.Wholesale Division </p> <ul><li>Input from the different department is taken and line is reworked. </li></ul><ul><li>Pre-production samples are made and fabrics samples are requested.</li></ul><ul><li>Production dates are set </li></ul><ul><li>New styles are added for approval by Fashion Director</li></ul><p>Market WeekLine is shown and sold to key retailers.Information is taken and based on production minimums garments that had the most interest are chosen and samples are made for road reps All orders are processed and the styles are put into production. A detail of best seller styles is reviewed and added to line.Goods begin to arrive at stores follow up phone calls are made from sales team for reorders Based on early selling goods are programmed for 2nd cutting In Stock goods are offered to small accounts.Plans production time and makes samplesCosting is estimatedAllocates production time Buys fabricMakes road rep samplesCosting and technical designs are done Review of design and displays are done at each store Production Reviews events and holiday and programs promotions in accordance Fabric &amp; Trim Sourcing Special request from the retailers are reviewedAny in store signage and advertisement is reviewed with V.M. Dept. Budget is approved by Financial dept.Events and Promotions are presented to stores Support is given to stores in accordance to orders under the direction of the sales manager.An in stock inventory is done &amp; sold to small retailers Fit samples are approved Grading is done Production samples are reviewed for fit and costingChanges are made Orders are reviewed Cutting tickets are doneLine goes in to production Early selling is reviewed and styles are planed for 2nd cutting Costing is approvedBudget and margins are planned. Financial Dept.Visual Merchandiser plans displays and windows. Costing is approvedInformation is gather on sale thru and used for following collection and to re-merchandising the stores.Re-orders are placed Follows up on any problems Makes appointment for next market Inventory is entered and invoices are made Based on terms orders are picked and shipped Credit and term agreements are made Payment is received Margins are reviewed After promotions are compete a review of cost efficiency is done.Fashion Director meets with design teamDesign team presents line at sales meetingConcept #1 Merchandising Dept .Marketing &amp; Promotional Dept.Wholesale Division </p> <ul><li>Input from the different department is taken and line is reworked. </li></ul><ul><li>Pre-production samples are made and fabrics samples are requested.</li></ul><ul><li>Production dates are set </li></ul><ul><li>New styles are added for approval by Fashion Director</li></ul><p>Market WeekLine is shown and sold to key retailers.Information is taken and based on production minimums garments that had the most interest are chosen and samples are made for road reps All orders are processed and the styles are put into production. A detail of best seller styles is reviewed and added to line.Goods begin to arrive at stores follow up phone calls are made from sales team for reorders Based on early selling goods are programmed for 2nd cutting In Stock goods are offered to small accounts.Plans production time and makes samplesCosting is estimatedAllocates production time Buys fabricMakes road rep samplesCosting and technical designs are done Review of design and displays are done at each store Signage and planagrams are sent to stores Props, signage and fixtures are ordered Production Reviews events and holiday and programs promotions in accordance Fabric &amp; Trim Sourcing Special request from the retailers are reviewedAny in store signage and advertisement is reviewed with V.M. Dept. Budget is approved by Financial dept.Events and Promotions are presented to stores Support is given to stores in accordance to orders under the direction of the sales manager.An in stock inventory is done &amp; sold to small retailers Fit samples are approved Grading is done Production samples are reviewed for fit and costingChanges are made Orders are reviewed Cutting tickets are doneLine goes in to production Early selling is reviewed and styles are planed for 2nd cutting Evaluates display performance Groups are reworked after sellingCosting is approvedBudget and margins are planned. Financial Dept.Visual Merchandiser plans displays and windows. Costing is approvedInformation is gather on sale thru and used for following collection and to re-merchandising the stores.Re-orders are placed Follows up on any problems Makes appointment for next market Inventory is entered and invoices are made Based on terms orders are picked and shipped Credit and term agreements are made Payment is received Margins are reviewed After promotions are compete a review of cost efficiency is done.Fashion Director meets with design teamDesign team presents line at sales meetingConcept #1 Merchandising Dept .Wholesale Division Production Financial Dept.Marketing &amp; Promotional Dept.Review of design and displays are done at each store Signage and planagrams are sent to stores Props, signage and fixtures are ordered Evaluates display performance Groups are reworked after sellingVisual Merchandiser plans displays and windows. Costing is approvedAll orders are processed and the styles are put into production. A detail of best seller styles is reviewed and added to line.Goods begin to arrive at stores follow up phone calls are made from sales team for reorders Based on early selling goods are programmed for 2nd cutting In Stock goods are offered to small accounts.Inventory is entered and invoices are made Based on terms orders are picked and shipped Credit and term agreements are made Payment is received Margins are reviewed </p> <ul><li>Input from the different department is taken and line is reworked. </li></ul><ul><li>Pre-production samples are made and fabrics samples are requested.</li></ul><ul><li>Production dates are set </li></ul><ul><li>New styles are added for approval by Fashion Director</li></ul><p>Plans production time and makes samplesCosting is estimatedFabric &amp; Trim Sourcing Production samples are reviewed for fit and costing Costing is approvedAllocates production time Buys fabricMakes road rep samplesCosting and technical designs are done Fit samples are approved Grading is done Reviews events and holiday and programs promotions in accordance Special request from the retailers are reviewedAny in store signage and advertisement is reviewed with V.M. Dept. Budget is approved by Financial dept.Events and Promotions are presented to stores Support is given to stores in accordance to orders under the direction of the sales manager.After promotions are compete a review of cost efficiency is done. 26. Things to know. Retail Math. </p> <ul><li>Retail Mark-Up </li></ul><ul><li>Net Profit &amp; Gross Profit </li></ul><ul><li>Sales to Stock Ratio </li></ul><ul><li>Sales per Sq. Foot </li></ul><ul><li>Turn Over </li></ul><ul><li>O.T.B.</li></ul><ul><li>Margin </li></ul><p> 27. Things to Know. Costing. </p> <ul><li>Basic Costing: </li></ul><ul><li><ul><li>Cost of fabrics + Trims + Production=Cost </li></ul></li></ul><ul><li><ul><li>Administrative cost: </li></ul></li></ul><ul><li>+ Cost of sales (reps, shows, line sheets) </li></ul><ul><li>+ Samples &amp; Pre-production</li></ul><ul><li>+ Margin fo...</li></ul>