Do you want to design for a high-end clientele? Is your prospective label going to make you money? Your success is ultimately defined by your business sense. Are you making money?
Yes nice big chunky dollars can be earned in design. It can. Chances are you want to go to fashion school, hone in on your workmanship skills, put together your first collection, Lisa Ruffle (hi babe) sits in your end of year fashion parade, loves you and wants to give you your first stockist opportunity in David Jones. (cough) well isn’t that the dream?...
Let’s be honest. It actually does happen for some. I remember we grabbed Dion Lee the moment his collection turned every head at his first Fashion Week and I also recall stalking Christopher Esber to see whether he would be the right suit for our store. It is all about a media frenzy. If you have design skills that do that, well, you won’t have trouble at all being one of the few talents to be picked up on your first launch.
Now lets talk cash. Even if you do get picked up by some amazing store, the chances of making some good decent hard cash and setting yourself up with a nice apartment in Paris with a Sydney base in Surry Hills is going to take a bit more strategy.
Think pricing. Think clientele. Think economy. Think how frequent you want your label shopped. If there is anything I have learned, how you price yourself will make or break you. Having a High End fashion label has its placed with its High End price tag. But be warned. Your high-end clientele expects 2 things 1. Quality 2. Wearability.
Don’t think for a minute your customer who will spend upwards of $500 on a dress, $1500 on a suit and $700 on leather will be happy to pay for your ‘brand’ only. No. They are distinguished and can understand high workmanship from poor workmanship. Secondly, if you, as a designer want to make money, you have to be able to sell your collection, not just to the buyer but to the actual customer. The more your customer spends, the more the buyer will place with you in the upcoming season (more about this later in my next post). The wearability of your collection is one of THE most important things. You are not selling your collection to size 6 models. You are selling to a clientele in professions or married to professions that need a wardrobe that presents them as such.
So think about it. I will be back to talk to you about making money in the next post. For now… think about how you will approach design and how to start in the industry that your heart and passion is suited to. What is your dream label?