THE BUSINESS OF BUILDING A BRAND
Fri 10 Mar
WORDS Kati Chitrakorn
WHILE IT MAY BE A DREAM FOR MANY, THE REALITY OF STARTING A BRAND FROM SCRATCH CAN OFTEN BE ANYTHING BUT. HERE, WE UNPACK WHAT THE PATHWAY TO SUCCESS LOOKS LIKE WITH INDUSTRY-LEADING EXPERTS.
From financing and production to navigating a constantly shifting retail landscape, there are plenty of stumbling blocks that stand between emerging designers and longevity.
In a conversation hosted by Vogue Business senior retail and marketing editor Kati Chitrakorn, LVMH Prize mentoring director Sophie Brocart; Browns Fashion buying director Ida Petersson; and stylist and Perfect Magazine creative director Jeanie Annan-Lewin discuss common pitfalls that independent brands face and strategies to avoid them, drawing on the lessons that they’ve witnessed designers learning the hard way. Rather than surefire solutions, however, their advice boils down to an inevitable reality: as attractive a business as fashion is, it’s one where resilience is key.
KATI : YOU ALL ENCOUNTER NEW TALENT ALL THE TIME. HOW DO YOU KNOW IF SOMEONE HAS THE POTENTIAL TO BE A SUCCESS? IS IT A GUT FEELING OR ARE THERE CERTAIN THINGS THAT YOU LOOK FOR?
Jeanie: When I was simply styling and looking for things to be worn on shoots, it would just be about clothes that inspired me. Now I look for loads of different things, from the fabric to the technology. I look at someone’s ideas and see if it runs through their whole output.
Sophie: First, the brand needs to have a unique point of view and great product. Then I look at the character of the person behind the set-up. You can be very creative but if you’re not going to deliver, what’s the point? I try to understand what they have inside of them. For example, are they organised? If they aren’t, do they have someone organised working with them? Most successful designers have to be visionaries in terms of fashion, but also in terms of business.
Ida: For sure, it’s 100 percent the gut. What is the collection? Is it a version of something else? Is it coherent? From my side, I meet a lot of insanely talented creatives but the biggest challenge is that they’re not ready yet to create a sellable brand. They could have the most talent in the world, but they might not have the infrastructure for us to actually buy it. Having been in this industry for about 25 years now, I’ve previously made the mistake of getting too excited about something, only to then fall before the finish line.
KATI : WHAT INFRASTRUCTURAL ISSUES HAVE YOU SEEN?
Ida: Can they produce what they've designed? Do they have a production line or the capacity to handle orders? If they’re making one-of-a-kind pieces, what does that look like? Creative degrees rarely mention the phrases that we use in buying, so we’ve had designers agree to things that they are not capable of delivering because they’ve not understood the agreement. Sometimes we wait a few seasons even though we absolutely love the aesthetic or what they stand for, because if the pricing structure is not right, you’re not going to sell.
KATI : LET’S TAKE RECENT TALENTS LIKE ESTER MANAS OR NENSI DOJAKA, FOR EXAMPLE. WHAT’S BEHIND THE SUCCESS OF THEIR BUSINESSES? HOW MUCH OF IT ALSO HAS TO DO WITH BEING IN THE RIGHT TIME AND PLACE?
Sophie: Sphere, the showroom of the Fédération de la Haute Couture et de la Mode, is always a good place to find new designers. I met Ester Manas for the first time there and thought they had a super clear mission. They had an incredible, unique product. They also had a lookbook that was funny and memorable. For Nensi, it was all about the product. Nobody had done something like it. It belongs to a time where women are liberated and you can show the body much more. She created the movement, right? It’s been copied so much and also speaks to someone who’s not in fashion.
Ida: Yes, Nensi felt at the very forefront of that wave. While her designs speak to the same audience as a brand like KNWLS, for example, her craftsmanship is something that you don’t usually find until someone is at the level of potentially going to a big maison. She’s also part of something bigger. It’s rare to have that quality level as well as something that is a piece in a bigger puzzle.
KATI : DO YOU THINK THE MEDIA GETS IT WRONG AT TIMES?
Sophie: The press always looks at what’s new, new, new. When you’re a client, you actually like something that is coherent in time. As a designer, you want to refine what you do. Designers always ask: should I do a continuation of my last show? If I do, buyers love it but the press will say it’s the same thing. You really have to make these kinds of difficult choices. When I mentor the LVMH Prize winners, it’s a question they always have and I tell them to try to feed everyone a little.
KATI : A STYLIST TOLD ME THAT IF A PRODUCT WORKS WELL EDITORIALLY AND THE STYLISTS ARE CRAZY ABOUT IT, IT'S UNLIKELY TO WORK COMMERCIALLY.
Sophie: This is part of the advice; be careful. It’s great to have visibility but if you don’t have a business, at the end, the press will just go somewhere else.
Jeanie: There are some brands that are really thriving but don’t have that much press attention; they’re solely based on customers. If you can say something interesting and capture a small audience quite quickly, that’s a sign that things can get momentum.
KATI : THERE IS A LOT OF SUPPORT FOR EMERGING BRANDS. IN ADDITION TO TOMORROW, YOU ALSO HAVE PLATFORMS LIKE SLAM JAM, AND SOME RETAILERS LIKE DOVER STREET MARKET AND TERMINAL27 ALSO PROVIDE MARKETING AND MANUFACTURING SUPPORT. WHEN YOU SEE BRANDS LIKE OTTOLINGER OR STEVEN MA WITH AN INCUBATOR LIKE TOMORROW BEHIND THEM, DOES IT MAKE YOU MORE CONFIDENT TO DEEPEN YOUR BUY?
Ida: It's like a seal of approval. If a lot of people are excited about it, then that helps to convince us to see what it's like. It might help with making the buy in the first place, but what would ultimately deepen our buy has more to do with sales performance.
KATI : AS THE THEME OF THIS ISSUE IS RESILIENCE, WHAT DOES IT MEAN TO BE A RESILIENT DESIGNER?
Jeanie: It’s knowing who you are inside and out. It takes a lot of soul searching and being able to express who you are and what you want to say clearly. When I get that from a person, I’m a lot more attracted to their pieces because you’re buying into their story and their belief system.
Sophie: Responsibility is key. Try to gather people you trust because you’re not going to win alone. It’s about teamwork and the best designers act as a magnet to draw other talents to work with them. Learn as much as you can before you jump. The first collection is kind of easy, but when you’re onto developing the second collection, you’ll also be delivering the first one and it’s a lot. There’s no time to think. Make sure that you gather as much information as you can about production, logistics, legal – all the technical things. Once you have a brand, it’s complicated.
Ida: You need to have your ducks in a row. Talent alone isn’t enough. That means having a legal understanding when you’re signing any contract. With any obligation that you accept, you need to understand what it is and make sure that you have the necessary frameworks in place, rather than just jumping on the horse. Logistics is everything. Timing is crucial. Be open to feedback, because if you don’t listen, you’re not going to evolve – but don't be a slave to it either, especially if it’s coming from just one part of the world. Most importantly, have a long-term vision that goes beyond just a trend.