BUSINESS OF FASHION
CREATING A LINE
"You can only make it if it sells" = Consumer demand is the driving force of the apparel industry
Consumer research - info about consumer characteristics/behavior
- psychological, social, financial considerations
Product research - info about preferred porduct desgin/characteristics
Market analysis - infor about general market trends
i.e. read the Popcorn report - predicted cocooning.
but long-range anything is hard in fasion
- short-range forecasting - includes determining desired % of sales growth for the company.
consumer needs in response to current events / economy
use sales figures from current selling season figures to make merch. decisions.
study of shat the competition is doing
predicting changes in retailing
Each apparel line must have clear customer description
gender, age range, lifestyle, location, price zone.
Fasion Trend Research
- reading trade publications, shopping the market, attending textile trade shows
- fashion trend forecasting services - Pat Tunsky in NY
- computer software programs can assist w/ consumer-driven forecasting
Consumer Outlook!Works w/ POS data to spot and report trends
Design team works w/ planning and prod. to plan calendar dates of deliverables
3 Design Dev. and Style Selection
Initial cost estimate for mass production of each style must be determined.
Cost of materials based on number of yards of fabric required to make prototype.
Cost of labor based on time estimate multiplied by hourly labor wage.
Some manufactures employ target costing
Final costing done by production / cost engineer b/c requires knowledge of prod. techniques and facilities.
Labor costs, materials cost, production costs and estimated costs for unknown factors.
Once final line is determined, make samples (sometimes can't afford to make all) for reps to start selling
Also line brochure or LookBook is made
Placing orders and cancellations
Not all style that are presented in line will be produced by factories
Only styles w