Growth Strategies for Starting Up a Fashion Brand

by Crystal Vogt, Demand Media

ike most businesses, fashion brands need to create and execute growth strategies to build the company and earn profits. When starting your fashion brand, it's important to forecast what the next few business quarters will look like for your company, including any roadblocks and your strategies for dealing with them. By laying out a business strategy at the start with your goals and objectives in mind, your brand will grow more efficiently.

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Pitch to Investors

Growth often takes a large amount of capital a new business may not have. Venture capitalists and certain types of investment firms may be eager to "buy in" to your fashion brand and help it grow by backing your business and ideas. When pitching to an investor, always make sure you approach him with a well-researched business plan that includes all potential business scenarios you might experience in the next few years and how you may rectify problem areas. Sell your brand and your ideas in business meetings to earn the trust and enthusiasm of investors.

Public Relations and Marketing

Your fashion brand cannot experience success if it flies below the consumer radar. To grow your brand, it's important to make the public aware of it. Meet with retail companies to discuss selling your brand in brick-and-mortar stores, invest in advertising campaigns in print publications and television, and sign up to take part in trade shows and festivals where you can display items from your fashion line. Devise an interesting story behind your fashion brand and pitch this to news organizations. An article or television segment on your new business can increase your exposure to potential customers.

Related Reading: How to Develop & Brand a Fashion Merchandising Portfolio

Innovation

By offering something special or unique through your fashion brand, consumers may be more inclined to purchase your product over a competitor's. Leading through innovation in the industry can be a major growth driver, states VF Corp., a branded apparel company. Innovation involves "something new that creates value," according to VF. This could include producing clothes made out of a new type of fabric, sewing your clothing in a special way or using creative new graphics or sayings on your clothing.

Hire a Consultant

Business consultants often have years of experience in the industries they specialize in. If you lack sufficient business or fashion experience, you can hire a business consultant who will apply her experience to your fashion brand and help it grow. When researching consultants, always check their credibility through legitimate user reviews and any information that can be gleaned from the Better Business Bureau.