fashion industry business plans

How to Write a Fashion Business Plan in 10 Easy Steps

  • Published: May 28, 2023
  • By: Yellowbrick

Have you ever dreamed of making a splash in the world of fashion? Do you possess the creative flair and keen business sense needed to dress the world in your unique vision? If you’re nodding your head, it’s time to strut your stuff and create a fashion business plan  that’ll make investors sit up and take notice.

Fear not, we’re here to help with this 10-step guide that will assist you in crafting a blueprint tailor-made for success . So grab a cup of coffee, and let’s dive in together, preparing you to take the fashion industry by storm!

Find Your Fashion Niche

First things first,  what’s your style , darling ? Are you all about haute couture or do you fancy yourself as the next streetwear sensation? Identifying your niche is crucial to setting the foundation of your business plan. Ask yourself: who’s your target audience? What makes your brand unique? Answering these questions will help you carve out your place in the fashion world.

Executive Summary: Give ‘Em the Runway Rundown

Think of your executive summary as the teaser trailer for your business plan. It should be concise , snappy , and give your readers a taste of what’s to come . Summarize your company’s mission, its unique selling points, and your strategy for growth. Remember, first impressions count, so make it fabulous!

Company Description: Flaunt Your Brand’s Personality

Here’s where you  spill the beans about your company . What’s the story behind your brand? How will it make a difference in the fashion industry? Describe your company’s history, structure, and culture. Don’t forget to mention any milestones or achievements that make you stand out from the crowd.

Market Analysis: Study Your Style Scene

You’ll need to  do some legwork to get the lowdown on your target market . Analyze trends, competitors, and your audience’s buying habits. Who are the big players in your niche? What are the gaps in the market? Uncover the secrets to your competitors’ success and learn how to make your brand shine even brighter.

Product Line: Show Off Your Fashion Forwardness

Here’s your chance to strut your stuff and flaunt your designs . Detail your product line, including sketches, materials, and price points. How will your collection evolve over time? What’s your plan for future collections? Give readers a sneak peek into your fashion-forward world and leave them wanting more.

Marketing and Sales Strategy: Work That Catwalk!

Now that you’ve got your fabulous designs, how do you plan to spread the word ? Outline your marketing strategy, touching on advertising, social media, influencers, and PR. Describe your sales channels and how you’ll reach your target audience. Remember, in the fashion world, you’ve got to work to make it!

Operational Plan: Behind the Seams

In this section, delve into the nitty-gritty of your day-to-day operations . Discuss your production process, suppliers, and inventory management. How will you ensure quality control? What’s your plan for scaling up as your business grows? Give readers a behind-the-scenes look at the nuts and bolts of your fashion empire.

Management and Organization: Assemble Your Style Squad

No one can run a fashion empire alone.  Introduce your readers to your team , highlighting their experience and expertise . How will your organizational structure support your business’s growth? Be sure to discuss any advisors or mentors who’ll help guide you on your journey to the top.

Financial Projections: Crunching the Couture Numbers

Fashion may be all about glamor and glitz, but at the end of the day, it’s still a business. In this section, lay out your financial projections ,  including revenue , expenses , and profit . Create a comprehensive budget and cash flow statement to demonstrate your financial savvy. Don’t forget to address any potential risks and how you’ll mitigate them. After all, a solid financial plan is your ticket to fashion stardom.

Appendices: The Cherry on Top

Wrap up your fashion business plan with any additional information or documentation that supports your case. This might include market research data, design patents, or even letters of intent from potential buyers. Think of the appendices as the finishing touches to your plan – the cherry on top that ties everything together.

A Runway-Ready Business Plan

And there you have it – a 10-step guide to crafting a fashion business plan that’s equal parts style and substance. With your runway-worthy blueprint in hand, you’re now ready to take the fashion world by storm . So go on, dazzle investors, and watch your designs light up the catwalks. After all, the sky’s the limit when you’ve got a plan that’s dressed to impress!

But wait, before you dive headfirst into the world of fashion business, remember that it’s essential to keep learning and expanding your knowledge . To help you achieve even greater success, consider enrolling in the Fashion Industry Essentials Course  offered by Yellowbrick.

Taught by esteemed faculty from the prestigious Parsons School of Fashion  and leading industry insiders, this course covers essential aspects of the business side of fashion, including:

  • Visual style
  • Portfolio design
  • Fashion production
  • Marketing & PR

Featuring five enthralling online modules and a range of skill-building activities, you can progress at your own pace, tailoring the learning experience to suit your needs. Each module typically takes between 3 to 5 hours to complete.

And the cherry on top? You’ll have the extraordinary opportunity to learn from industry powerhouses  like Elaine Welteroth, Brandon Maxwell, and Rebecca Minkoff. Upon completing the course, you’ll be awarded a  non-credit certificate of completion from Parsons , showcasing your commitment to the fashion industry.

So, are you ready to strut your stuff? Don’t hesitate! Begin crafting your fashion business plan and enroll in the Fashion Industry Essentials Course  today to stay ahead of the curve. Empower yourself with the knowledge and skills to make your mark on the fashion world!

Enter your email to learn more and get a full course catalog!

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fashion industry business plans

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fashion industry business plans

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Clothing & Fashion Business Plans

Written by Dave Lavinsky

Clothing and Fashion Industry

Explore our collection of business plan examples for the clothing and fashion industry, meticulously crafted for designers, retailers, and fashion entrepreneurs. Whether you are a fashion startup or expanding your retail clothing venture, each plan is designed to address the unique challenges and opportunities in the fashion sector, from launching a new label to expanding an established brand. These examples are essential for anyone in the fashion industry seeking to build a robust business model, attract investment, and achieve long-term growth in a highly competitive and ever-evolving market.

Clothing & Fashion Business Plan Templates

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Natural Hair Care Business Plan Template - The World's Leading Business Plan Template Directory

Fashion Business Plan Template [Updated 2024]


Fashion Business Plan Template

If you want to start your own Fashion Company or expand your current business, you need a business plan.

The following Fashion business plan template gives you the key elements to include in a winning business plan. In addition to this template, conducting research on the fashion industry will help you better understand the business, identify your target market and help implement a smart marketing plan and strong financial plan.

You can download our Fashion Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example Fashion business plan template. This template can be used for a clothing business, fashion designers, a clothing line business plan and/or any type of fashion company business plans.

I. Executive Summary

II. Company Overview

III. Industry Analysis

IV. Customer Analysis

V. Competitive Analysis

VI. Marketing Plan

VII. Operations Plan

VIII. Management Team

IX. Financial Plan

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Fashion Business Plan Outline

fashion business plan template

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Sample Fashion Business Plan Fashion Business Plan Template

Writing a business plan is a crucial step in starting a fashion business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring fashion business owners, having access to a sample fashion business plan can be especially helpful in providing direction and gaining insight into how to draft their own fashion business plan.

Download our Ultimate Fashion Business Plan Template

Having a thorough business plan in place is critical for any successful fashion venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A fashion business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The fashion business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your fashion as Growthink’s Ultimate Fashion Business Plan Template , but it can help you write a fashion business plan of your own.

Fashion Business Plan Example – VogueVista Designs

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Based in the vibrant city of Portland, VogueVista Designs is a forward-thinking fashion brand that aims to revolutionize the industry with our unique blend of sustainable, trendy, and personalized apparel. Our mission is to cater to the individualistic spirit of our customers, offering them pieces that not only stand out but also resonate with their personal style and values. With sustainability at our core, we are committed to using eco-friendly materials and processes, ensuring that each piece we create not only looks good but also benefits the planet. Our dedication to innovation, quality, and environmental stewardship positions us as a leading fashion brand in Portland and beyond.

Our success can be attributed to several key factors, including our commitment to sustainability, which has resonated well with our target market in Portland, known for its environmental consciousness. We have also excelled in creating a strong brand identity that appeals to the fashion-forward and individualistic customers we target. Our accomplishments to date include the successful launch of several fashion lines that have been well-received by the market, establishing a loyal customer base, and forging partnerships with local suppliers to ensure the sustainability of our products. These achievements underscore our potential for growth and our capacity to become a dominant player in the fashion industry.

The fashion industry is undergoing a significant transformation, with sustainability and technology driving major changes in how apparel is designed, produced, and consumed. Consumers are increasingly favoring brands that demonstrate environmental responsibility and offer personalized experiences. This shift represents a tremendous opportunity for VogueVista Designs, as we are positioned at the intersection of these trends. Our focus on eco-friendly materials and processes, along with our ability to tailor our offerings to the unique tastes and preferences of our customers, aligns with the industry’s direction. Moreover, the rise of e-commerce and digital marketing presents new avenues for us to reach and engage with our target market, further enhancing our growth potential in a changing landscape.

Our target customers are the fashion-forward residents of Portland, who prioritize sustainability and individuality in their apparel choices. We cater to a diverse demographic, including young, trend-setting individuals active on social media, professionals seeking stylish yet work-appropriate attire, and those who appreciate unique pieces that reflect their personal style. By understanding and responding to the eclectic tastes of this community, VogueVista Designs is uniquely positioned to meet their needs, ensuring that our offerings not only resonate with our clientele but also encourage brand loyalty and engagement.

In the competitive landscape of Portland’s fashion industry, VogueVista Designs stands out due to our unwavering commitment to sustainability, our innovative approach to fashion, and our strong community engagement. Our competitors may offer similar products, but our brand’s dedication to environmental responsibility and our ability to create personalized, trend-setting apparel set us apart. These competitive advantages not only differentiate us in the market but also align with the growing consumer demand for sustainable and unique fashion options, positioning VogueVista Designs for continued success and growth.

Our marketing strategy centers around showcasing our unique, sustainable, and fashion-forward products through a mix of traditional and digital channels. Pricing is carefully considered to reflect the quality and sustainability of our materials, while remaining accessible to our target market. We will leverage social media to engage with our customers, share our brand story, and showcase our products through visually compelling content. Special promotions and collaborations with influencers will further amplify our reach. Additionally, we plan to participate in local fashion events to build community engagement and brand recognition. Our promotions plan is designed to create a cohesive and engaging brand experience that resonates with our target customers and drives sales.

Our operations are focused on ensuring excellence across customer service, inventory management, product development, marketing, sales, and quality control. Key processes include efficient handling of customer inquiries, maintaining accurate inventory levels, developing trend-aligned fashion lines, and implementing effective marketing strategies. We are committed to continuous improvement and will monitor and adjust our operations to meet customer needs and market demands. Our milestones include launching new collections, expanding our online presence, and achieving specific sales targets, all aimed at establishing VogueVista Designs as a leading sustainable fashion brand.

Our management team comprises experienced professionals with diverse backgrounds in fashion design, business management, marketing, and sustainability. This blend of expertise ensures that VogueVista Designs is not only at the forefront of fashion trends but also operates efficiently and sustainably. The team’s shared vision for the brand and its commitment to innovation, quality, and environmental stewardship are fundamental to our success and growth.

Welcome to VogueVista Designs, a beacon of fashion innovation located in the vibrant city of Portland, OR. As a pioneering local fashion business, we are thrilled to fill a significant gap in the market by providing high-quality fashion products and services. The absence of high-caliber local fashion establishments in the area has led us to seize this opportunity to serve our community with unparalleled style and creativity.

Our offerings encompass a broad spectrum of fashion-related products and services. At VogueVista Designs, customers can explore an exquisite selection of clothing, accessories, and footwear that cater to diverse tastes and occasions. Beyond apparel, we extend our passion for aesthetics into beauty products, ensuring our clientele can achieve their desired looks from head to toe. Additionally, we recognize the importance of a harmonious living space in fostering creativity and comfort, which is why we also provide an array of home goods. Each product in our portfolio is carefully curated or designed with the modern consumer in mind, ensuring quality, uniqueness, and style.

Strategically based in Portland, OR, VogueVista Designs is perfectly positioned to serve the local community with our innovative fashion solutions. Our physical presence in the city not only makes us accessible but also allows us to contribute positively to the local economy and cultural landscape.

The potential for VogueVista Designs to flourish in Portland is immense, thanks to several key factors. Firstly, our founder brings invaluable experience from previously running a successful fashion business, ensuring that we have the knowledge and expertise to navigate the industry successfully. Additionally, our commitment to creating superior fashion designs sets us apart from the competition, allowing us to offer our customers something truly unique and desirable.

Since our inception on January 6, 2024, as a Sole Proprietorship, VogueVista Designs has made significant strides towards establishing a strong presence in the fashion industry. Our journey began with the creation of a distinctive logo and the careful selection of our company name, which collectively embody our brand’s ethos and aesthetic. Finding an ideal location for our business was another crucial step, enabling us to lay a solid foundation for our operations and future growth. As we continue to build on these accomplishments, we are excited about the opportunities that lie ahead and remain committed to making a lasting impact on the fashion scene in Portland and beyond.

The Fashion industry in the United States is a significant market, with an estimated size of $390 billion in 2021. This industry encompasses a wide range of products and services, including clothing, accessories, footwear, and cosmetics. The market is expected to continue growing steadily, with a projected annual growth rate of 3.5% over the next five years.

One of the key trends in the Fashion industry is the increasing demand for sustainable and ethically produced products. Consumers are becoming more conscious of the environmental and social impact of their purchases, leading to a shift towards eco-friendly and socially responsible brands. This trend bodes well for VogueVista Designs, as the company focuses on creating stylish and sustainable fashion pieces for customers in Portland, OR.

Another trend in the Fashion industry is the rise of online shopping and e-commerce. With the increasing prevalence of online retail platforms, consumers have more options than ever to shop for clothing and accessories online. VogueVista Designs can take advantage of this trend by establishing a strong online presence and reaching a wider audience of customers beyond their local market in Portland.

Below is a description of our target customers and their core needs.

Target Customers

VogueVista Designs will target the fashion-forward demographic within the local residents of Portland, known for its unique blend of urban and outdoor lifestyles. This segment is characterized by individuals who value sustainability, individuality, and are always on the lookout for unique pieces that stand out. The company will tailor its offerings to meet the eclectic tastes of this community, ensuring that each piece resonates with the personal style of its clientele.

The brand will also focus on the younger, trend-setting population that thrives on social media platforms. This segment is crucial for building brand recognition and fostering a community around VogueVista Designs. By creating trendy, Instagram-worthy apparel, the company will attract customers eager to share their fashion finds with followers, thus amplifying its reach and influence within the Portland area.

Moreover, VogueVista Designs will cater to the needs of professionals looking for stylish yet work-appropriate attire. This customer segment values quality and versatility in their wardrobe, seeking pieces that can transition seamlessly from the office to social gatherings. The brand will emphasize designs that blend functionality with fashion-forward elements, ensuring that their offerings meet the diverse needs of Portland’s working professionals.

Customer Needs

VogueVista Designs understands the importance of offering high-quality fashion designs that meet the desires of discerning customers. These customers expect more than just clothing; they seek unique, well-crafted pieces that stand out in a crowd. By focusing on superior craftsmanship and innovative designs, VogueVista Designs ensures that their clientele can express their individuality and style with confidence.

In addition to providing high-quality fashion, VogueVista Designs recognizes the growing demand for sustainable and ethically produced clothing. Consumers are increasingly mindful of their environmental footprint and the ethical implications of their purchases. VogueVista Designs caters to this need by incorporating eco-friendly materials and fair labor practices, allowing customers to look good while doing good.

Finally, VogueVista Designs offers personalized service that enhances the shopping experience. Customers appreciate the attention to detail and the customized approach that allows them to find pieces that perfectly suit their tastes and body types. This commitment to personalization ensures that each customer leaves feeling valued and confident in their fashion choices.

VogueVista Designs’s competitors include the following companies:

Boys Fort specializes in a curated collection of men’s gifts, accessories, and home decor. They offer a unique shopping experience that blends lifestyle products with a rustic, masculine aesthetic. Price points vary across their range, catering to mid-range budgets. Boys Fort operates primarily out of its single location in Portland, OR, serving a local customer base. Their key strength lies in their niche focus on men’s lifestyle products, creating a strong brand identity. However, their limited presence to one location could be seen as a weakness, restricting their market reach.

Crafty Wonderland is a hub for handmade gifts and goods, featuring products from local artisans and crafters. They offer a wide array of items from art prints to jewelry, and home goods, appealing to customers looking for unique, locally-made items. Prices are generally affordable, aiming to make handmade crafts accessible to a broad audience. Crafty Wonderland has a storefront in Portland, OR, and also hosts large craft markets, expanding their reach. They serve customers looking for unique, artisan items across various demographics. A key strength is their support for local artisans, fostering a community around local craft. However, their reliance on craft markets and a single store location could be seen as limiting their growth potential. lululemon, although not based in Portland, has a significant presence in the city with multiple store locations. They specialize in high-quality athletic wear and accessories for men and women.

Lululemon positions itself in the high-end market, with price points reflecting the premium quality of their products. They generate substantial revenue, with a global presence and a strong brand in the athletic apparel industry. lululemon serves a wide range of customers looking for premium athletic and leisurewear, from fitness enthusiasts to casual consumers seeking quality. Their key strengths include a strong brand loyalty and a wide range of high-quality products. A potential weakness could be their higher price points, which may limit accessibility for some customers.

Competitive Advantages

At VogueVista Designs, we pride ourselves on our ability to deliver superior fashion designs that set us apart from the competition. Our team of innovative designers is constantly on the pulse of the latest trends and techniques in fashion, allowing us to create unique and appealing pieces that cater to a wide range of tastes and preferences. We understand that fashion is not just about wearing clothes; it’s an expression of individuality. That’s why we focus on creating designs that not only look good but also resonate with our customers on a personal level. This commitment to excellence in design is one of our key competitive advantages, enabling us to attract and retain a loyal customer base.

In addition to our standout designs, another competitive advantage we hold is our dedication to quality and sustainability. We carefully select high-quality, eco-friendly materials for our collections, ensuring that our products are not only stylish but also durable and kind to the planet. This attention to detail extends to our craftsmanship, with each piece being meticulously constructed to meet the highest standards of quality. By integrating sustainability into our business model, we not only contribute to a healthier environment but also appeal to the growing number of consumers who prioritize eco-conscious products. This combination of innovative design, quality, and sustainability positions us strongly in the competitive fashion landscape of Portland and beyond.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

VogueVista Designs prides itself on offering a diverse range of products that cater to the fashion-forward individuals of today. With a keen eye for the latest trends and a commitment to quality, customers can find everything they need to elevate their style, from clothing to home goods. Each product category not only showcases the best of contemporary design but also comes with an average selling price that reflects VogueVista Designs’ commitment to delivering value to their customers.

In the realm of clothing, VogueVista Designs offers an extensive selection that caters to various styles, occasions, and preferences. Customers can expect to find everything from casual wear that’s perfect for everyday outings to more formal attire suitable for special events. The average selling price for clothing items is approximately $50, balancing affordability with quality. This price point ensures that customers can access the latest fashion trends without breaking the bank.

Accessories are an essential part of VogueVista Designs’ product lineup, offering customers the perfect finishing touches to their outfits. From statement jewelry pieces to stylish scarves and hats, there’s something for everyone. The accessories are thoughtfully curated to complement the clothing offerings, ensuring a cohesive look. Customers can expect the average selling price for accessories to be around $30, making it easy to update their style with new pieces regularly.

Footwear at VogueVista Designs is all about combining comfort with style. The selection includes everything from casual sneakers to elegant heels, ensuring there’s a pair of shoes for every occasion. The footwear collection is designed to meet the needs of fashion-conscious individuals who do not want to compromise on comfort. The average selling price for footwear is set at $70, reflecting the quality materials and craftsmanship that go into each pair.

Beauty products are a newer addition to VogueVista Designs’ offerings, featuring a range of skincare and makeup items that cater to diverse beauty needs. The beauty products are carefully selected to ensure they meet the high standards of quality and efficacy that VogueVista Designs’ customers expect. With an average selling price of $25, these beauty products are accessible to those looking to enhance their skincare routine or makeup collection without a hefty price tag.

Last but not least, VogueVista Designs brings contemporary style into the home with its selection of home goods. From chic decorative items to functional pieces that add a touch of elegance to any space, the home goods collection is perfect for those looking to infuse their living spaces with style. Customers can find these items at an average selling price of $40, making it possible to refresh one’s home decor without significant investment.

Overall, VogueVista Designs offers a comprehensive range of products that cater to the modern consumer’s lifestyle needs. With competitive pricing across all categories, customers can indulge in updating their wardrobe, beauty regime, and home with the latest trends and quality products.

Promotions Plan

VogueVista Designs embarks on a journey to captivate and expand its clientele through a blend of innovative and traditional promotional tactics. At the heart of its strategy lies online marketing, a powerful tool that will engage customers where they spend a significant portion of their time. Through the implementation of social media campaigns, VogueVista Designs will leverage platforms such as Instagram, Facebook, and Pinterest, where visual appeal plays a crucial role in attracting fashion enthusiasts. The company will curate engaging content, showcasing its unique designs, behind-the-scenes looks, and fashion tips to foster a strong community of followers.

In addition to online marketing, VogueVista Designs will utilize email marketing to directly reach customers. By creating a subscription-based newsletter, the brand will keep its audience updated on the latest collections, exclusive offers, and fashion events. This personalized approach will not only enhance customer loyalty but also drive traffic to its website and physical store in Portland, OR.

Understanding the importance of local presence, VogueVista Designs will also engage in community events and partnerships. Participating in local fashion shows, pop-up shops, and collaborations with local influencers and businesses will amplify its visibility within Portland. These efforts will not only introduce VogueVista Designs to a wider audience but also establish it as a key player in the local fashion scene.

Furthermore, VogueVista Designs will implement a referral program, encouraging satisfied customers to spread the word in exchange for discounts or special offers. This word-of-mouth marketing tactic will leverage the trust and satisfaction of existing customers to attract new ones. Additionally, the brand will explore opportunities for press coverage in fashion magazines and blogs, highlighting its fresh perspective and innovative designs to capture the interest of a broader audience.

In conclusion, VogueVista Designs will employ a multifaceted approach to promotion, combining the far-reaching capabilities of online marketing with the authenticity and engagement of local community involvement and partnerships. By tailoring its strategies to meet the dynamic needs and preferences of its target audience, VogueVista Designs expects to establish a strong brand presence and attract a loyal customer base in Portland, OR, and beyond.

Our Operations Plan details:

  • The key day-to-day processes that our business performs to serve our customers
  • The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of VogueVista Designs, there are several key day-to-day operational processes that we will perform.

  • Respond promptly to customer inquiries and feedback via phone, email, or social media.
  • Process orders, returns, and exchanges efficiently to ensure customer satisfaction.
  • Collect and analyze customer feedback to identify areas for improvement and adjust services accordingly.
  • Maintain accurate records of inventory levels to prevent stockouts and excess inventory.
  • Conduct regular inventory audits to ensure accuracy and identify discrepancies.
  • Order new supplies and restock popular products to meet customer demand.
  • Research current fashion trends and customer preferences to guide new product development.
  • Collaborate with designers to create new fashion lines and individual pieces that align with the brand’s vision.
  • Review and refine prototypes and final products to ensure quality and customer appeal.
  • Develop and implement marketing strategies to promote new products and special events.
  • Manage social media accounts to engage with customers and build a strong online presence.
  • Create compelling content, including photos and videos, to showcase products and fashion lines.
  • Monitor daily sales performance and adjust strategies as needed to meet revenue targets.
  • Manage expenses and budgets to ensure profitability and sustainable growth.
  • Prepare financial reports and forecasts to inform decision-making and strategy planning.
  • Ensure the website is user-friendly, up-to-date, and accurately reflects the brand’s products and values.
  • Optimize the online shopping experience to make it easy for customers to browse and purchase products.
  • Analyze website traffic and customer behavior to improve functionality and increase online sales.
  • Implement strict quality control measures to ensure all products meet the brand’s high standards.
  • Ensure compliance with local, state, and federal regulations affecting the fashion industry.
  • Address any quality or compliance issues promptly to maintain brand integrity and customer trust.

VogueVista Designs expects to complete the following milestones in the coming months in order to ensure its success:

  • Secure a Physical Location and Online Platform: Finding a strategically located storefront in Portland, OR, and launching an aesthetically pleasing, user-friendly online shop.
  • Permits and Licenses Acquisition: Obtaining all necessary permits and licenses to legally operate in the fashion industry, ensuring compliance with local, state, and federal regulations.
  • Initial Inventory Procurement: Sourcing and purchasing an initial inventory that aligns with VogueVista Designs’ brand identity and target market preferences.
  • Launch Our Fashion Business: Officially opening the physical store and online platform with a launch event to generate buzz and attract our first customers.
  • Marketing and Branding Initiatives: Implementing a strategic marketing campaign that includes social media marketing, influencer partnerships, and local advertising to build brand awareness and drive traffic.
  • Build a Strong Team: Hiring and training a team of passionate individuals who believe in the brand and can deliver exceptional customer service both in-store and online.
  • Establish Operational Efficiencies: Setting up an efficient inventory management system, customer relationship management (CRM) tool, and financial accounting system to streamline operations.
  • First Seasonal Collection Release: Designing, producing, and launching the first seasonal collection to establish VogueVista Designs as a trendsetter in the local fashion scene.
  • Get to $15,000/Month in Revenue: Reaching a monthly sales goal of $15,000 through direct sales, online sales, and potentially wholesale orders to boutiques and other retailers.
  • Customer Feedback and Product Improvement: Collecting customer feedback through surveys and direct communication to refine product offerings and improve customer experience continuously.

VogueVista Designs management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Jacob Wright, President

Jacob Wright brings a wealth of experience and a track record of success to the helm of VogueVista Designs. His journey in the fashion industry is marked by a notable tenure as the leader of a previous fashion venture, where he demonstrated an innate ability to navigate the complex and ever-evolving world of fashion. Jacob’s strategic vision and his deep understanding of both the creative and business sides of fashion make him uniquely qualified to guide VogueVista Designs towards achieving its ambitious goals. With a keen eye for trends and a solid grasp of business operations, Jacob is poised to steer VogueVista Designs to new heights, ensuring its position as a leading name in the fashion world.

VogueVista Designs requires significant investment to achieve our growth goals. This funding will be allocated towards expanding our product lines, enhancing our marketing efforts, and improving our operational capabilities. With the right financial backing, we are confident in our ability to scale our business, increase our market share, and establish VogueVista Designs as a leader in the sustainable fashion industry.

Financial Statements

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Income Statement

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Fashion Business Plan Example PDF

Download our Fashion Business Plan PDF here. This is a free fashion business plan example to help you get started on your own fashion plan.  

How to Finish Your Fashion Business Plan in 1 Day!

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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How To Start A Clothing Business: Everything You Need To Know

Julia Rittenberg

Updated: Jul 18, 2024, 8:36pm

How To Start A Clothing Business: Everything You Need To Know

Table of Contents

1. find your niche, 2. know your audience, 3. create a marketing plan, 4. name your brand and create brand assets, 5. register your business, 6. design and source your products, 7. price your products, 8. distribute your products, 9. market your clothing brand, bottom line, frequently asked questions.

If you have a passion for fashion, starting a clothing business might be a great way to turn your skills and creativity into a career. It’s more accessible than ever for new business owners to sell their wares online and turn a profit. There are a variety of ways to sell clothes, from finding collaborators and wholesalers to providing great items for excited customers. Here’s what you need to know about how to start a clothing business from start to finish.

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Here’s how to start a clothing business in nine steps:

The fashion industry is massive, consisting of a myriad of different brands–all with very different styles and niches. It’s important to identify your niche and stick to it. This will help you to create a product line that resonates with your target market and build a solid brand. Remember that as appealing as it may be to try to be everything to everyone, the best brands have a very defined niche and they stay in said niche.

Here are a few examples of highly successful clothing brands that operate in different niches:

  • Wrangler (casual)
  • Adidas (athletic)
  • H&M (trendy)
  • Ralph Lauren (classic)

Picking a niche means playing to your strengths. If you’re a strong seamster, you’ll spend most of your time designing and constructing pieces. If you’re a visual artist, you might create art that can be printed on T-shirts or other clothing items.

Early on, it’s important to figure out your ideal customer. When you’re working towards establishing your business, fashion makes things both easier and harder at the same time. You can easily imagine who would wear your clothes, but you also have to find where they congregate (in brick-and-mortar stores and online) and how to reach them.

Here are a few questions to consider when determining your audience:

  • Who are they?
  • What are their favorite clothing brands?
  • Do they identify with certain brands?
  • Where do they shop?
  • How often do they shop?
  • Do they care about trends?
  • What is their price point?
  • What influences their buying decisions?

By answering these questions, you will get a better understanding of your target audience. This enables you to more strategically build your brand, develop products they’ll want, and distribute products so they’re easily discoverable by the people who will buy them.

After defining your niche and identifying your audience, the next step is to put together a marketing plan. While it sounds like a lot of work–it doesn’t have to be very comprehensive. But you do need to detail which channels you plan to use to sell your products, such as direct, Amazon, Etsy, boutiques and big box stores, as well as how you plan to market your businesses so that you get sales.

Here’s are the must-haves when creating a new business marketing plan:

  • Market and competition
  • Distribution channels
  • Marketing strategy
  • Marketing and advertising channels, such as social media and pay-per-click ads
  • Marketing budget

A marketing plan essentially establishes how you will market your clothing line, and with that, can greatly guide how you go about product distribution and advertising strategies, which will impact your sales. Learn more about how to write a marketing plan .

If you don’t already have a business name in mind, it’s time to choose one. Clothing business names can vary wildly. For example, Under Armor, ASOS, Banana Republic, L.L. Bean, American Apparel, TopShop, Brooks Brothers, Dickies, Deus Ex Machina, Vardagen, Life is Good, or Salt Life. In short, your clothing business can be named just about anything you want it to be.

Here are a few tips to keep in mind when naming your clothing business:

  • Make sure that it is easy to pronounce and spell
  • Choose a catchy or memorable name
  • Consider how it translates into other languages
  • Check if it is available as a domain name, such as

Once you have a business name, choose a slogan (optional), a brand color scheme, and create your logo. If you’re looking for an easy and affordable way to create your own logo, try using Canva, which is a free drag-and-drop design tool that has dozens of prebuilt logos you can customize. Alternatively, you can get a logo professionally designed for as little as $5 on Fiverr.

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After choosing a brand name and putting together your brand assets, the next step is to register your business with your state. It’s not a fun step, but it is a necessary step–even for brand new clothing businesses as you will need an Employer Identification Number (EIN) to accept payments for your products. And to get an EIN, you need to register as a business. Additionally, it also enables you to get wholesale pricing and work with retailers.

The process of registering your business will vary depending on your state, but you will register it with your state’s Secretary of State. Small businesses typically opt to register as a Limited Liability Corporation (LLC) which costs around $100 on average but can be as little as $40 and over $250. If you’re not sure which is right for you, learn more about what an LLC is and how to set up an LLC .

Chances are you already know how you’re going to design and source your products. However, if you’re on the fence or open to ideas, there are three main ways:

  • Buy products from wholesalers
  • Design your own and have them manufactured
  • Design and sew your own in-house

Of course, which you choose will depend on how you plan to sell your products. For example, if you’re planning to curate collections of clothing to sell online, say directly via your website or on Amazon, you could opt to purchase products from wholesalers or drop shippers. This is a great way to keep upfront costs low–especially if you are dropshipping products. However, it also means your products are not as unique and therefore might require more marketing.

Pricing products in fashion is largely determined by two key variables. First, the cost of goods sold (COGS), such as labor expenses and cost of materials, and second, by the niche you’ve chosen to target. For example, the average clothing line uses what is called the keystone markup strategy , where the price is calculated by taking the cost of production and doubling it. However, it may be increased as much as 5X, depending on your niche, such as high-end clothing brands.

Here are a few key costs to include when pricing your products:

  • Cost of materials
  • Marketing and advertising

If you’re stepping into the luxury brand space, your products should be priced accordingly. Items that require a lot of attention, care and time in their creation should have premium prices.

On the other hand, a clothing company focused on high volume can have items with lower price points. Encouraging consumers to buy more means adding deals and flash sales to further incentivize purchases.

Clothing businesses have a number of distribution options available, from selling directly via their own website and selling on third-party sites such as Amazon and Etsy, to selling in-store, through local retailers, or national big box retailers. To maximize your exposure and increase your sales, it’s generally best to plan to distribute and sell your products via multiple channels.

Even if you do not plan to sell products directly or online, you still need to have a website. This helps build your brand and if you’re planning to approach retailers, it gives them a way to check your product catalogs and lookbooks. Learn more about how to make a website or check out the best e-commerce platforms that enable you to easily create an online store where you can sell your products directly to customers.

No matter how you plan to sell the bulk of your products, you should have your own website.

If you’re not ready to sell from your own website, you can look into Etsy or other highly ranked e-commerce platforms to lessen your workload. The less time you have to spend troubleshooting a website, the more time you have to work on designing clothing.

Last but not least, you need to market your clothing brand so that it can be discovered by your target market. There are a number of ways to market a clothing business, but ultimately you want to choose marketing channels that reach your particular target market. In other words, be where your target customers are.

Here are some of the most popular marketing channels and strategies for clothing brands:

  • Organic social media marketing, such as Pinterest and Instagram
  • Paid social media advertising, such as Facebook Ads and YouTube Ads
  • Paid search advertising, such as Google Ads
  • Forums, such as Reddit
  • Content marketing
  • Influencer marketing
  • Paid placements
  • Banner ads, such as Google AdSense
  • E-commerce ads, such as Amazon Ads and Etsy Ads
  • Search engine optimization (SEO)
  • Email marketing
  • Sponsorships
  • Local events

When choosing the right marketing strategies and channels for your clothing business, remember to always keep your brand in mind. Consider if it stays on brand and if it’s likely to be a good use of your marketing budget. As with choosing distribution channels, you will also want to use multiple marketing channels for maximum exposure.

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Starting a clothing business is a great way to merge creative passion and business sense. It also gives you the opportunity to see your artistic work on people on the street, while turning your passions into a profitable business. On top of that, it’s more affordable than ever to start a clothing line, so you don’t need a huge investment to get started.

How much does it cost to start a clothing line?

As with any business of any size, the startup costs will depend on how large you want the business to start out. A small clothing business will need about $500, a medium-sized line between $1,000 and $5,000, and a large line might need up to $50,000.

Are clothing businesses typically profitable?

With hard work and devotion, it can be. Estimates state that profits can be anywhere from 4% to 13% . There will likely be many changes because fashion cycles through trends quickly.

Do I need a business plan to start a clothing business?

While you don’t exactly need a business plan to start a clothing business, it’s a good idea to create one. The reason being is having a strong business plan will help you stay true to your original vision. Planning out your suppliers, goals and general growth plan will set you up for success in the future.

Where can I get products for my online store?

You can get products for your online store from a variety of sources, including wholesalers, manufacturers and distributors. Another good place to find clothes are thrift stores and garage and yard sales, where you can find gently used clothing and sometimes clothes that have never been worn. Popular aggregators of manufacturers include Alibaba and DHgate. Many store owners use sites, such as Faire or Abound, for wholesale products.

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Did you find what you are looking for.

Huge market size, potential profitability, and growth opportunities make clothing and fashion a lucrative business industry to get into.

Well, no matter your fashion or clothing business, you need a well-crafted business plan to launch and stay competitive in the market.

This library of clothing and fashion business plan examples here can inspire and guide you as you begin to plan your business. So, don’t worry; we got you covered on that part.

Let’s learn more about these clothing and fashion business plan samples, starting with their benefits.

Benefits of using an industry-specific business plan example

Believe it or not, using an industry-specific business plan example is the best and probably the quickest way of writing a business plan.

Doubt it? Hold, this may change your perception; an extended list of the benefits of using an industry-specific business plan template.

  • Inspiration : Reading a business-specific template can be incredibly helpful in getting content inspiration. Furthermore, it helps you gain insights into how to present your business idea, products, vision, and mission.
  • Risk-free method : You are taking a reference from a real-life, let’s say, clothing line business plan—so you know this plan has worked in the past or uses a method subscribed by experts.
  • Deep market understanding : Analyzing and reading such examples can provide clarity and develop a deeper market understanding of complex industry trends and issues you may not know but relate directly to the realities of your business landscape.
  • Increased credibility : A business plan developed using an example follows a standard business plan format, wisely presents your business, and provides invaluable insights into your business. There’s no question it establishes you as a credible business owner, demonstrating your deep business and market understanding.
  • Realistic financial projections : Financial forecasting being a critical aspect of your plan, this real-life example can help you better understand how they project their financials—ultimately helping you set realistic projections for your business.

These were the benefits; let’s briefly discuss choosing a clothing or fashion business plan template that best suits your business niche.

Choosing a Clothing or Fashion Business Plan

This category has multiple business plan templates for various fashion and clothing businesses. With many similar business types and templates, you may not find the most suitable one through manual scrolling.

Here are the steps to consider while choosing the most suitable business plan template.

Identify your business type

Are you planning to start a fashion designing business? Or an online clothing store? Or is it going to be a retail clothing store?

Asking yourself these questions will help you identify your business type, which will help in choosing a niche-specific business plan template.

Once you identify your business type, you can choose between templates for different business segments.

Search for the template

We have an in-built search feature, so you can easily search for a business-specific template using your business type as a key term. Once you have the search results, choose the most suitable one. Simple as that.

Review the example

Look closely at the content of the sample business plan you are considering. Analyze its sections and components to identify relevant as well as unnecessary areas.

Since all the Upmetrics templates are tailored to specific business needs, there won’t be many fundamental customizations. However, a hybrid business model targeting multiple customer segments may require adjustments.

No big deal—you can view and copy sections from other business plan examples or write using AI while customizing a template.

That’s how you find and select the most suitable fashion or clothing business plan. Still haven’t found the perfect business plan example? Here’s the next step for you.

Explore 400+ business plan examples

Discover Upmetrics’ template library of 400+ comprehensive business plan examples to help you write your business plan. Upmetrics is a modern and intuitive business planning app . that streamlines business planning with its free templates and AI-powered features. So what are you waiting for? Download your example and draft a perfect business plan.

From simple template to full finished business plan

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How to Write a Fashion Business Plan in 10 Easy Steps

  • Published: May 28, 2023
  • By: Yellowbrick

Find Your Fashion Niche

Executive summary: give ‘em the runway rundown, company description: flaunt your brand’s personality, market analysis: study your style scene, product line: show off your fashion forwardness, marketing and sales strategy: work that catwalk, operational plan: behind the seams, management and organization: assemble your style squad, financial projections: crunching the couture numbers, appendices: the cherry on top, a runway-ready business plan.

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Natalie Turturro Mettouchi Costume Designer, IATSE Local 829 I am most proud of designing the costumes for a short film that premiered at the Tribeca Film Festival in 2021, called "Esther in Wonderland." I had a shoestring budget and was working on two other pretty huge projects simultaneously, but still managed to design creative outfits that allowed the dancers to move freely and help develop their characters.

fashion industry business plans

Meosha Enslow Seamstress, Cintas uniform company As a designer I pride myself on originality and creativity... The problem comes when I sit down to plan I begin to doubt myself and my capabilities...To avoid the setbacks filled with self doubt I think of the end result and how it always makes me feel so empowered and shuts the weak voice in my head saying I can’t do it.

fashion industry business plans

Matt Popper Music Touring/Business Affairs, United Talent Agency Be relentless - the most difficult part of the job is getting your foot in the door. Once you're in, your good work will speak for itself. Of course, there will be some days where you will feel defeated and want to give up, but if this is what you're meant to do, you'll find a way to make it happen.

fashion industry business plans

Deyonte Fashion Designer, DWC Project Runway Season 16 Contestant Everyone has challenges and obstacles they face in the industry. It's what you do with those minor situations that help you become better if you allow it. You have to fight for your vision and be relentless.

fashion industry business plans

Mathilde Garnier Product Manager Footwear, adidas AG To me, success is passion. I strongly believe you can only be sucessful if you truly love what you are doing. Passion is a magic fuel that can inspire and drive people towards their goals... [but] passion is not enough. Our world needs more than for us to just do what we love. In order to be successful, we need to make a difference. I need to make a difference.

fashion industry business plans

Lindsay Milner Sigmund Vice President of Design, Vida Shoes The highlight of my career was becoming a Vice President of Design at a respected industry company at a young age. It showed how all of the hard work I put into my career- including evolving and continuing my education in the field- really put me ahead of the curve.

fashion industry business plans

Leslie Peterson Coordinator - Center of Excellence, NBCUniversal One of the hardest parts of my journey was moving to New York City from a small town and learning how to navigate the corporate world. Everyday I am learning something new and need to be okay with not knowing everything.

fashion industry business plans

Kyle Rebucci Customs Team Trainer, Puma Fashion is a part of everyday life. You don’t have to like trends, brands, or designers to contribute to the giant that is the fashion industry. You can’t escape from it. My contribution will of course directly relate to fashion, but I hope to be part of some reform in the industry when it comes to sustainability and ethics.

fashion industry business plans

KeNisha Ruff Founder, Marie Hunter Beauty Less than 1% of luxury beauty founders are black. I am laying the groundwork for black founders to enter the prestige sector and using my company to inspire, break the stigma surrounding mental health, and fight climate change.

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Joseph Richert Manager - Corporate Development & Strategy, Universal Music Group Success to me is happiness, both professionally and personally. On the professional side, that means having an impact on helping artists and entrepreneurs bring their dreams to life in an industry I'm passionate about; which I'm lucky to say I'm doing now!

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John Paul Endab Physical Education Teacher, Joppa High School As an educator, I truly believe that learning is a continuous process. It give us an opportunity to satisfy our curiosity, pursue our interests, or try new things.

fashion industry business plans

Ilana Duboff Associate Media Director, OMG23 While I am proud of all the amazing films I've been fortunate to work on over the years, I am most proud of the growth I've had while working in this industry. I have been promoted three times in the past four years and now manage a team of people, which I never even thought could be possible when I first started working. I feel honored that I have the opportunity to lead a team as well as teach them and work with them.

fashion industry business plans

Haramritjot Singh Founder, Cash Cow NYC I’m a kid from the Bronx, I’m a first generation American, I’m a Sikh, I’m a father in his thirties, and now I’m the owner of a clothing brand. I serve as a prime example to many different people from so many different circumstances that starting a small business and following your dreams is possible.

fashion industry business plans

Giulia Baldini Fashion Journalist/Editor and Academic Researcher, Lehman College I represent the underrepresented with words. I report stories and narratives that center on the fashion industry, specifically when the protagonists are from the African Diaspora, when they are sustainable businesses, and when they are engaged in minorities' activism.

fashion industry business plans

Forbs West Associate Music Curator, SiriusXM/Pandora I think one of the biggest challenges that I've faced in my journey is patience. I think especially being in Generation Z, it is important to slow down and appreciate what we have accomplished so far. I think when you least expect things, it is a surprise yet it is also very rewarding.

fashion industry business plans

Elena Takmakova Manager - International Production, Universal Music Group The thing that keeps me on track is remembering how far I've come. Just that simple feeling of being proud of myself can make miracles.

fashion industry business plans

Dounesha Scott Product Manager, Anna Griffin Inc. Of my career achievements, I am the most proud of being a uniform fit specialist for the Delta Style Project... Delta only redesigns their uniforms every 5-10 years. The uniforms were designed by Zac Posen and manufactured by Lands End... We are in the Delta museum and will be a part of Delta airlines history.

fashion industry business plans

FASHION BUSINESS PLAN: Template & How to Write

  • by Kenechukwu Muoghalu
  • August 14, 2023

Fashion business plan

Table of Contents Hide

What is a fashion business plan, #1. label dna, #2. guerilla marketing.

  • #3. Social Media

How Much Money Do You Need to Start a Fashion Business?

#1. research the market.

  • #2. Executive Summary
  • #3. Company Overview
  • #4. Distribution Plans
  • #5. Marketing Strategy
  • #6. Financial Plan
  • Fashion Business Plan Template

The real truth is…

How do i start a fashion business plan, what kind of fashion business can i start, is the fashion business profitable.

Hey! Look, whether you are into the fashion business or you are already a seasoned entrepreneur, you need a plan. It is of fundamental importance that you write or get yourself a business plan for your fashion investment if you wish to experience real growth. 

Even before thinking about opening any retail store, boutique, or an e-commerce portal, don’t start up without a fashion business plan. It is obvious you have lots of confusion about how it all works. This article is what you need to get through. We have also made available some template checklists, that will help you write a fashion business plan. 

Do you know the difference between prominent brands and smaller brands working in warehouses? Their difference is that before they even started their designing journey and setting up websites and apps, they already had a fashion business plan. 

If you are still new as a fashion designer, you will discover that it is difficult to break into the fashion industry. This is because, nowadays, the fashion industry has a big market with millions of clothing stores all over the universe. With this kind of strong competition, you can successfully break out in the fashion world by getting yourself a business plan. 

Read Also : SMALL BUSINESS IDEAS IN UK: 65+ Profitable Ideas

This fashion business plan that has been talked about will not just attract growth, it will also help you improve your creativity skills. A fashion business plan, for example, can help you set a short-term or long-term goal and achieve those goals in no time. In sum, you should not forget that a fashion business plan is a living document. Do not write and keep. Keep reviewing it and never get tired. 

Now that you know the new deal, what next? You can look through some examples of existing fashion business plans. Create your own and restart that fashion dream. If it is too much stress, you can just click here to use an already-made fashion business plan.

How Do I Start a Fashion Business Plan Without Money?

You can be able to start up your own fashion business with just zero pounds. You do not have to break the bank or take a loan from it. Just follow these steps below and you are good to go. 

The first step is to figure out what exactly you want to do. What kind of clothes will you make? Which styles? Are you an eco-friendly fashion band? Choose your label DNA before doing any other thing.

Guerilla Marketing is a great marketing strategy that many people don’t know about. It can help any small business rise to its feet within a short period of time. It consists of creativity in gaining the attention of your target audience with bold and unconventional marketing strategies at zero cost. 

#3. Social M edia

Social media has become a great channel of marketing since the introduction of technology. It would be remiss to ignore its powers. You can set up a social media page for your fashion business. While doing this, it is crucial to have a mapped-out strategy. Carefully consider what you post, reblog, or like. Be creative enough to stand out from other fashion pages. You can choose to publish creative write-ups or engage in a polling vote or any engaging activity just to drive the right audience you need. 

Having the right skills is essential and can boost any business, even without financial resources. Even with the availability of financial resources and clients and zero skills, that business won’t grow. Having a skill that will enable you to work with different kinds of people with ease is all you need. Running a fashion business with no funds is not impossible. Once you have good focus and drive, you can scale through. 

£500-£1000 is enough to start if you are painstakingly lean. You can purchase materials and wholesale clothing in bulk with cash. You can choose to start your business with a few hundred pounds, but if you want something more professional, it will cost you more. 

How to Write a Fashion Business Plan

To write a successful business plan for your fashion designing journey, you will need to know some factors. These factors must be present in your plan to enable it to serve its purpose. A successful plan will also lay the groundwork for transforming an idea into a working business. The business plan should always come before your designs. Let’s take a look at these factors. 

Your first step in writing a fashion business plan should be aimed at gathering data that can help you determine your target market. It can also help you detect consumer problems and your competitors. Not just that, you will get to discover risks and avoid them when making decisions for your fashion business. You can even dump online research and set out on your own. You can visit clothing boutiques and take note of current data on fashion trends. Get to know the price structures and take advice from those designers. 

#2. Executive S ummary

If you have ever heard of an “elevator speech,” this is where you apply it. However, this section should contain a one-sentence mission statement. Include the summary of your brand and indicate what makes it unique from other fashion brands. Mention your target market, target revenue goals, and also the timeframe in which these goals will be achieved. Make sure this section does not exceed two paragraphs. It should be the last item in your fashion business plan.

#3. Company O verview

This section will cover your background as a designer. It can be your education, your past experiences, the skills you possess, or other information about you. However, don’t forget to also include your business location, organizational structure, and your team. Include pretty much everything that covers your business entity. Your product specification and manufacturing process should not be left out. Also, list some challenges that you feel might come your way. 

#4. Distribution P lans

You have included your manufacturing process in your company overview. Now you will need to explain your distribution process. You can either hire distributors that can help you access clothing retail shops or just plan a runaway show. In the runaway show, you will showcase your designs. Also, talk about your distributors and how much it costs you to distribute.

#5. Marketing S trategy

In this marketing section, you are required to carefully detail how you are going to market your product. What marketing strategy would you use? What are your marketing channels? These questions and more are what are expected of you to answer. Describe the method of how your business will reach people and at the same time create a customer base on a grander scale. 

#6. Financial P lan

This is where you should include your company’s financial plan. This financial plan will also have financial statements that will show the reader how strong your fashion business is. A financial plan also helps investors and lenders determine the company’s data. You will need to include an income statement in your fashion business plan as well. What it does is that it shows how much revenue a designer expects to generate and the cost the designer expects to incur over a specific period of time. Include a sheet that has the details of your initial startup cost. 

Fashion Business Plan T emplate

We also have in stock a fashion design business template checklist that you can use on your plan, just to make sure it isn’t falling short. To make the most out of this template checklist, get your fashion business plan and tick all that apply. From there, you can know where to make amendments. 

  • Choose your brand strategy.
  • Create your identity.
  • Choose which product to sell.
  • Choose a business model.
  • Review costs
  • Write a business plan.
  • Getting enough funding
  • Start marketing 

Creating a business plan for your fashion investment is no child’s play, it is fun but tiring. You can’t create one in a few seconds, minutes, or even hours. It also involves a lot of processes like making research, collecting resources, and designing and picking clothes. It is a taxing job, no doubt. 

But… just because we understand where it hurts the most, we have made a ready-to-use fashion business plan for you. All you need to do is induct it into your fashion business and watch your dreams come alive. 

Join other fashion designers that have used this plan and testified to its authenticity, to boost your own interests now!  

Starting a clothing and fashion brand is a good idea, especially when you have the passion and skills to carry on for a long time. But you might experience slow growth or no growth at all if you fail to start off on the right foot. Most people do not know the importance of a business plan, and that is why they do not experience growth in any line of business they venture into. With a fashion business plan , you will cross bridges that most designers without a plan couldn’t. Using a template when you decide to write a fashion business plan, on the other hand, makes the process less stressful.

You can start off by choosing a niche in the fashion industry, having enough capital, make research, registering in a fashion school if you are new to the fashion world, creating a brand identity with a fashion business plan aside, and setting up goals you aim to achieve.

You can venture into fashion blogging, making children’s clothes, engaging in clothing rentals, opening a boutique, or even fashion designing.

Starting a fashion business can be lucrative. However, the profits might not come easily. It will solely depend on the efforts and time you will invest in your fashion business.

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Kenny, an accomplished business writer with a decade of experience, excels in translating intricate industry insights into engaging articles. Her passion revolves around distilling the latest trends, offering actionable advice, and nurturing a comprehensive understanding of the business landscape. With a proven track record of delivering insightful content, Kenny is dedicated to empowering her readers with the knowledge needed to thrive in the dynamic and ever-evolving world of business.

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Your passion for clothing design and fashion can only get you so far. To create a successful fashion line, you need a business plan to ensure your killer designs are supported by long-term planning, financial stability and marketing strategy. Check out our clothing and fashion sample plans to ensure that you have the necessary planning components to elevate your designs from a seasonal hit to something that never goes out of style.

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fashion industry business plans

Example of a Business Plan for a Fashion Designer

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Whether you’ve graduated from Parsons School of Design or a smaller fashion school, you can’t begin to create your fashion empire without first creating a business plan. Running a fashion business is challenging and time-consuming, but the results can fulfill your dreams – if you are committed to sticking to your plan. A business plan for opening your own fashion studio must include an executive summary, company vision, market and competitive analysis, and the ways your company will position itself to take advantage of your targeted market.

The Executive Summary

The executive summary of your fashion business plan is the equivalent of an elevator pitch that boils everything down to two paragraphs. It should include the name of your fashion business, the area where you want to operate, the type of clothes and accessories you plan to create, and your target market.

For example, if you were designing high-end, haute couture dresses, your summary could include, “XYZ Haute Couture will cater to wealthy women from 40 to 55 in San Francisco. Our location in the heart of Union Square will help us attract the wealthiest shoppers in the city who are looking for designer-quality clothing at less-than-market prices.”

Express Your Vision and Selling Proposition

This section helps prospective investors understand the type of clothes and accessories you’re going to offer in your fashion business and the market that you want to attract. For example, if you’re going to make hip-hop street wear, you must explain how that street wear will meet the wants, needs and tastes of your targeted market. More importantly, you must also express a unique selling proposition, which is the thing you believe will set your clothes apart from anyone else in the industry. For instance, if your hip-hop street wear is made using sustainable fabrics, it can help differentiate and brand your fashion business.

Create Your Market Analysis

Defining your target market is essential to helping prospective investors understand how they will get a return on their investment. The biggest mistake fashion designers make is to define their market too broadly. For example, if you’re designing comfortable beachwear and you write that your target market is “women between 30 and 45 who love spending time at the beach,” you’ve failed the target market test, because your market is too broad and undefined.

To make it more specific and targeted, you would write that your target market is, “active women between 30 and 45 who earn $50,000 or more per year and spend an average of $2,000 per year on casual clothing and accessories.” Your market analysis must also explain how your business will capitalize on existing fashion trends, how your pricing structure compares to that of your main competitors, and how your business will fulfill an untapped niche in the market.

Explain Your Manufacturing Process

Designing fashion is one thing, but manufacturing clothes and accessories for a product line requires a detailed plan. Questions you must answer in this section of your plan include: Where will you manufacture your clothes? Have you obtained estimates with several manufacturing companies? If you’re using an overseas manufacturing company, how does the pricing structure change when converted into American dollars?

Explain Your Distribution Process

After you’ve made plans to design and manufacture your clothes and accessories, you have to explain your distribution plan. You may want to hire a distributor to help you gain access to retail stores in the area as well as big trade shows where you can showcase your designs and secure orders from independent fashion retailers.

Include Your Financial Plan

Your fashion company’s financial plan must include financial statements that show the relative health of the business and provide investors and lenders with vital company data. An income statement shows how much revenue the designer expects to generate, as well as the costs the designer expects to encounter as the clothing line develops. The financial plan should also include a break-even analysis that tells investors the threshold of profitability.

For example, you could write, “XYZ Streetwear will adopt a moderate growth plan, with the goal of always having a positive cash balance. Our payment options will include major credit cards, cash and checks. The break-even analysis based on average costs and prices has been completed. With fixed costs of $6,000 and $50 in average sales, and $25 in average variable costs, the business requires $12,500 per month in sales to break even.”

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Fashion Business Plan Template

Published Aug.16, 2013

Updated Apr.22, 2024

By: Brandi Marcene

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Fashion Business Plan pdf

Table of Content

Fashion Industry business plan for starting your own agency

One of the best ways to live your dream life is to have a business of your own, a setup where you are the boss, and you can make all the money that you need to fulfill all your dreams. If you want to start your business today, this business plan for fashion can help you achieve your dreams. We will tell you in detail how to write a fashion business plan. In this detailed business plan template for fashion industry, we will cover everything involved in starting the business from start tom finish. This can be used as a guide to start the business or as a investment group business plan .

Executive Summary

2.1 the business.

Apple Fashion will be a fashion industry located in Paris, France. This business plan for fashion industry will walk you through all the steps needed to start the business and run it in a profitable manner. We are writing a fashion business plan based on this example so that you can easily start your own business.

2.2 Management of Fashion Industry

The first thing you need to have for starting a fashion business plan is a well-defined management structure for the business. Without that, you cannot effectively start and profitably run the business. Go to any of the top business plan companies and the first thing they’ll discuss will be the management structure of the business you want to start.

Just like we did in the clothing retail business plan , the business will be headed by the owner and they will hire managers to run various aspects of the business. They key to the success of this business is appointing the right person on the right position.

2.3 Customers of Fashion Industry

Like any other business, it is important to decide the customers that you will be dealing as a part of the business. If you do not have a clear idea of the customers, you will be dealing, the business can never be profitable. The customers of the fashion industry will be the following:

  • People who want custom-made designer clothing and accessories.
  • Movie crews who need costumes for a movie.
  • Retail stores who want to market premium clothing and accessories.
  • People looking for wedding and party dresses.

2.4 Business Target

The target of the business is to make designer clothes available and affordable for everyone. With this business, we hope to decrease the prices of premium clothing. Other than that, making profit is also a target of this business.

Moreover, we also want to expand to other cities and start a franchise business model for expanding the reach of our products. The ultimate goal is global domination and competing with the likes of Louis Vuitton, Gucci, and Parada.

Fashion Industry Business Plan Template - 3 Years Profit Forecast

Company Summary

3.1 company owner.

Sarah Carnegie is the person who will be the owner of the business. She is a veteran fashion designer from America holding many awards and accolades. She also happens to be quite rich and generating the funds for the business will not be an issue for her. All that makes Sarah the best candidate for this business plan fashion industry.

3.2 Why the Fashion Industry is being started?

The next thing that we need to talk about is why the fashion startup business plan is being started. There are a number of reasons for that. First and foremost, Sarah always wanted to start a luxury clothing and accessories line of herself and now is the time for her to do it. Secondly, Sarah has recently been fired from her job and she no longer wants to be the employee, she wants to be the boss. With the hundreds of millions of dollars burning a hole in her account, she can do whatever she wants.

3.3 How the Fashion Industry will be started?

One of the most important things to discuss in any start up fashion business plan is how the business will be started. Thankfully, this fashion business plan template free includes that too.

Step1: Market Need Analysis

The first thing needed to be done before starting the business is market need analysis. This will tell us whether or not there is a need for the services we are going to provide. Just like a lingerie boutique business plan , the business cannot be successful without it.

Step2: Developing a Brand

This is the single most important part in this whole business. Luxury goods are only as good as the brand name printed on them. We need to establish Apple Fashion as a brand that people can trust if we want to see any measure of success in the business.

Step3: Opening an Outlet   

The first outlet of the business will be opened right in the front of Eiffel Tower in Paris. That must be expensive but remember the hundreds of millions of dollars burning a hole in Ms. Carnegie’s account? She’ll use them.

Step4: Establishing an Online Presence  

Having an online presence is perhaps even more important than having an outlet in front of the Eiffel Tower. Thankfully though, it is not as expensive as that. So Sarah will hire a web designer to make a website for her brand to make the brand known to the public.

Step5: Promotion and Marketing

Next up, collaboration will be done with prominent celebrities to endorse and promote the products from Sarah’s brand. This is also very important because people follow these people and we can use that as leverage to create sales.

Fashion Industry Business Plan Template - Startup Cost

Research and Development$28,000
Expensed Equipment$54,000
Start-up Assets$342,000
Cash Required$357,000
Start-up Inventory$39,000
Other Current Assets$234,000
Long-term Assets$276,000
Start-up Expenses to Fund$405,100
Start-up Assets to Fund$1,248,000
Non-cash Assets from Start-up$1,629,000
Cash Requirements from Start-up$386,000
Additional Cash Raised$53,000
Cash Balance on Starting Date$39,000
Liabilities and Capital 
Current Borrowing$0
Long-term Liabilities$0
Accounts Payable (Outstanding Bills)$48,000
Other Current Liabilities (interest-free)$0
Planned Investment$1,653,100
Investor 1$0
Investor 2$0
Additional Investment Requirement$0
Loss at Start-up (Start-up Expenses)$375,900

The next important thing is finalizing the services that the business will offer. There can be a million services that an example of a fashion business plan can have, However, obviously, we cannot start providing every single one of the services. That will not be a smart move. We are a bunch of smart people and we need to make a really smart move in the fashion business plan samples that we create.

The services included in this fashion business plan pdf will be:

Costume Design

The main service of the fashion industry will be to design costumes for movies and TV.

Wedding Dress Design

People who want designer dresses for their wedding can also hire our services to get the dresses designed.

Theme Dress Design

Dress designing for theme parties will also be one of the services.

Custom-Made Accessories

We will also design, manufacture, and commission custom-made fashion accessories for our customers.

Marketing Analysis of Fashion Industry

Business plan for investors.

The single most important part of any fashion business plan examples is the marketing analysis of the business. It is in this step that we have a look at what the market needs and how we can make a name in the market. This step is also a part of the streetwear brand business plan , but it is even more important here because the fashion industry is a congested one and the only way to make a profit is by careful marketing analysis.

Market trends and marketing segmentation are some of the most important parts of any fashion business plan presentation. Let’s have a look at them.

5.1 Market Trends

Having a look at the market trends is very important for writing a fashion company business plan. If we have a look at the market trends of the industry over the last decade, people have moved towards economically priced fashion accessories and products. If we are in for starting a fashion label business plan, the best way is to offer premium goods at a discounted price. By doing that, we can get a lot of customers and make a lot of profit.

5.2 Marketing Segmentation

No fashion marketing plan example can be complete without the proper marketing segmentation. Here’s the marketing segmentation that faces our business:

Fashion Industry Business Plan Template - Marketing Segmentation

5.2.1 Showbiz

The biggest market segment for the business will be the showbiz industry.

5.2.2 Private Customers

People who want custom-made dresses and accessories will also be a main market segment for us.

5.2.3 Small Businesses

Small businesses that show an interest in our business can sell our product and will make a market segment for us.

5.2.4 Retail Customers

The standard clothing and accessories made by the business will be sold through our own outlets to the retail customers.

Potential CustomersGrowth
Private Customers27%29,00030,00032,00033,00035,00010.00%
Small Businesses23%21,00023,00025,00027,00028,00010.00%
Retail Customers20%18,00019,00021,00023,00025,00011.00%

5.3 Business Target

  • To become the most esteemed fashion goods producer in the world.
  • To make luxury fashion goods accessible for everyone.
  • To gain fame and recognition.

5.4 Product Pricing

The products of Apple Fashion will be priced below what the competition asks for their products. This will be done to make sure that we get business and the goal of making fashion products affordable for everyone can be realized.

Marketing Strategy

Just like a sewing business plan , we need to have a solid marketing strategy to make the business a success. This sample fashion business plan does contain that and will guide you how to use it. While making a marketing strategy for business plan examples fashion, the things that you need to focus on include the competitive analysis and sales strategy. Once you complete that, you can easily start the business and make it a success.

6.1 Competitive Analysis

Here’s the competitive analysis for this fashion business proposal:

  • We have better designer than any of the competing brands in Europe.
  • Our prices are lower than all of the competitors.
  • We have a better sales strategy than any of the other companies in the sector.

6.2 Sales Strategy

If you want to know how to write a fashion article, you’ll need to be able to make sales strategy for the business. Here’s the sales strategy:

  • We will hire the services of celebs to promote and endorse the product.
  • Discounted rates will be offered to the buyers at the start.
  • We will offer better value for money compared with any other of the competitors.

6.3 Sales Monthly

Fashion Industry Business Plan Template - Sales Monthly

6.4 Sales Yearly

Fashion Industry Business Plan Template - Sales Yearly

6.5 Sales Forecast

Fashion Industry Business Plan Template - Unit Sales

Unit Sales
Costume Design50,00053,00056,180
Wedding Dress Design44,00046,64049,438
Theme Dress Design52,00055,12058,427
Custom-Made Accessories40,00042,40044,944
Unit PricesYear 1Year 2Year 3
Costume Design$51.00$59.16$68.63
Wedding Dress Design$60.00$69.60$80.74
Theme Dress Design$53.00$61.48$71.32
Custom-Made Accessories$42.00$48.72$56.52
Direct Unit CostsYear 1Year 2Year 3
Costume Design$49.00$56.00$64.00
Wedding Dress Design$58.00$66.00$76.00
Theme Dress Design$51.00$58.00$67.00
Custom-Made Accessories$40.00$45.00$52.00
Direct Cost of Sales   

Personnel plan

Just like we discussed in the thrift store business plan , it all comes down to the people that will run the fashion business plan sample pdf and will make it a commercial success. It is also in the objectives of a fashion business to make sure that we create employment for people. The company will be run by the following people.

7.1 Company Staff

  • Sarah Carnegie will be the owner and CEO of the business.
  • 2 managers for operations, external relations marketing.
  • 6 Fashion designers.
  • 2 Brand Ambassadors.
  • 2 Social media promoters.
  • 2 Web developers.
  • 1 Retail shopkeeper.
  • 1 reception clerk.
  • 1 telephone operator.

7.2 Average Salary of Employees

Operations Manager$13,000$14,300$15,730
External Relations Marketing$12,000$13,200$14,520
Fashion Designers$60,000$66,000$72,600
Brand Ambassadors$20,000$22,000$24,200
Social Media Promoters$20,000$22,000$24,200
Web Developers$18,000$19,800$21,780
Retail Shopkeeper$10,000$11,000$12,100
Reception Clerk$8,000$8,800$9,680
Telephone Operator$7,000$7,700$8,470

Financial Plan

Before we wrap up the  fashion business plan template pdf, it is important to have a look at the money involved in starting the business. This business will cost more money to start than the embroidery business plan . We will need money for:

  • The cost of setting up the store.
  • Setting up the production facility.
  • The salaries of employees for the time before we start making profit.
  • The cost of marketing and promoting the business.

8.1 Important Assumptions

Plan Month123
Current Interest Rate8.15%8.21%8.26%
Long-term Interest Rate8.39%8.45%8.50%
Tax Rate24.12%24.45%25.80%

8.2 Break-even Analysis

Fashion Industry Business Plan Template - Break-even Analysis

Monthly Units Break-even5340
Monthly Revenue Break-even$132,600
Average Per-Unit Revenue$234.00
Average Per-Unit Variable Cost$0.66
Estimated Monthly Fixed Cost$163,400

8.3 Projected Profit and Loss

Sales and Marketing and Other Expenses$135,700$139,000$144,000
Leased Equipment$0$0$0
Payroll Taxes$30,000$31,000$32,000
Profit Before Interest and Taxes$19,400$309,980$548,406
Interest Expense$0$0$0
Taxes Incurred$3,880$61,996$109,681
Net Profit$15,520$247,984$438,725
Net Profit/Sales0.16%2.10%3.01%

8.3.1 Profit Monthly

Fashion Industry Business Plan Template - Profit Monthly

8.3.2 Profit Yearly

Fashion Industry Business Plan Template - Profit Yearly

8.3.3 Gross Margin Monthly

Fashion Industry Business Plan Template - Gross Margin Monthly

8.3.4 Gross Margin Yearly

Fashion Industry Business Plan Template - Gross Margin Yearly

8.4 Projected Cash Flow

Fashion Industry Business Plan Template - Projected Cash Flow

Cash Received
Cash from Operations   
Cash Sales$54,000$58,320$62,986
Cash from Receivables$20,000$21,600$23,328
Additional Cash Received   
Sales Tax, VAT, HST/GST Received$0$0$0
New Current Borrowing$0$0$0
New Other Liabilities (interest-free)$0$0$0
New Long-term Liabilities$0$0$0
Sales of Other Current Assets$0$0$0
Sales of Long-term Assets$0$0$0
New Investment Received$0$0$0
ExpendituresYear 1Year 2Year 3
Expenditures from Operations   
Cash Spending$42,000$43,000$45,000
Bill Payments$23,000$28,000$31,000
Additional Cash Spent   
Sales Tax, VAT, HST/GST Paid Out$0$0$0
Principal Repayment of Current Borrowing$0$0$0
Other Liabilities Principal Repayment$0$0$0
Long-term Liabilities Principal Repayment$0$0$0
Purchase Other Current Assets$0$0$0
Purchase Long-term Assets$0$0$0
Net Cash Flow$19,000$20,000$22,000
Cash Balance$30,000$31,000$32,000

8.5 Projected Balance Sheet

Current Assets   
Accounts Receivable$25,000$28,000$31,472
Other Current Assets$1,000$1,000$1,000
Long-term Assets   
Long-term Assets$10,000$10,000$10,000
Accumulated Depreciation$19,400$21,728$24,444
Liabilities and CapitalYear 4Year 5Year 6
Current Liabilities   
Accounts Payable$19,200$21,504$24,170
Current Borrowing$0$0$0
Other Current Liabilities$0$0$0
Long-term Liabilities$0$0$0
Paid-in Capital$30,000$30,000$31,000
Retained Earnings$56,000$61,040$67,144
Net Worth$298,000$324,820$357,302

8.6 Business Ratios

Sales Growth7.28%8.07%8.94%3.00%
Percent of Total Assets    
Accounts Receivable9.28%10.28%11.39%9.80%
Other Current Assets2.30%2.55%2.82%2.40%
Total Current Assets151.00%152.00%152.00%158.00%
Long-term Assets11.50%11.60%11.64%12.00%
Current Liabilities4.96%5.00%5.05%4.34%
Long-term Liabilities0.00%0.00%0.00%0.00%
Total Liabilities7.45%7.51%7.58%7.38%
Percent of Sales    
Gross Margin94.80%97.36%100.09%99.00%
Selling, General & Administrative Expenses93.59%96.12%98.81%97.80%
Advertising Expenses1.51%1.55%1.59%1.40%
Profit Before Interest and Taxes41.00%42.11%43.29%33.90%
Main Ratios    
Total Debt to Total Assets0.18%0.17%0.17%0.40%
Pre-tax Return on Net Worth74.00%74.70%75.00%75.00%
Pre-tax Return on Assets95.00%99.75%104.74%111.30%
Additional RatiosYear 1Year 2Year 3 
Net Profit Margin33.00%34.02%35.08%N.A.
Return on Equity55.20%56.91%58.68%N.A.
Activity Ratios    
Accounts Receivable Turnover7.77.87.8N.A.
Collection Days100100100N.A.
Inventory Turnover32.434.0233N.A.
Accounts Payable Turnover151616.3N.A.
Payment Days272727N.A.
Total Asset Turnover2.52.52.6N.A.
Debt Ratios    
Debt to Net Worth-0.04-0.03-0.04N.A.
Current Liab. to Liab.111N.A.
Liquidity Ratios    
Net Working Capital$249,000$262,944$277,669N.A.
Interest Coverage000N.A.
Additional Ratios    
Assets to Sales0.860.870.87N.A.
Current Debt/Total Assets1%0%0%N.A.
Acid Test29.529.829.9N.A.
Sales/Net Worth2.12.22.3N.A.
Dividend Payout000N.A.

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China's Zara rival is expanding — and it's setting its sights on London and NYC next

  • Facing a weaker Chinese market, Urban Revivo plans on expanding to the West.
  • Urban Revivo's physical stores could help it break through to the US market, where it sells online.
  • Other fast-fashion peers have seen successes in the UK and US markets.

Insider Today

A Chinese fast-fashion company is planning a quick global expansion, just as industry heavyweights slow their growth to focus on online shopping.

Zara has been cutting its footprint post-pandemic, with plans to slash as many as 1,200 stores and double down on e-commerce.

But China's Urban Revivo, founded in 2006, is eyeing markets well outside of Asia. Parent company Fashion Momentum Group wants to open in cities including London and New York, CEO Leo Li told Nikkei Asia.

FMG now has over 400 Urban Revivo outlets in mainland China and a handful across Southeast Asia. Its only foothold in Western markets has been via online shopping.

Next year, FMG plans to launch 20 international Urban Revivo stores annually, a number that could accelerate to 50 per year in the long term, Li said.

He told Nikkei he hopes to expand the company to a $13.8 billion valuation — still well below competitors like Zara and H&M, whose parent companies have market capitalizations of around $155 billion and $23 billion, respectively. Zara has about 2,000 stores globally, while H&M has about 3,800.

FMG is also weighing an initial public offering in Hong Kong, which could raise $100 million, Bloomberg reported last month.

FMG's focus on Europe and the US comes as some of its industry peers excel in those markets. Japan's Fast Retailing, the parent company of brands including Uniqlo, reported strong sales from North American and European markets in the first half of 2024, while business in China has declined.

Softening Chinese consumer demand has also hurt Urban Revivo's sales, which relies on brick-and-mortar stores more than its increasingly digital competitors, reported Nikkei Asia.

FMG might fare a little better in the US. The quick adoption of Chinese brands like Shein and Temu shows that US consumers are comfortable with foreign brands, Damien Yeo, an analyst from Fitch Solutions, told Business Insider. But FMG would face a fashion-saturated America, with competition from other domestic and foreign brands like Uniqlo.

Related stories

US shoppers are "increasingly price-sensitive," Yeo said. "This means that fast-fashion companies are expected to do well as consumers trading down price points is often good news for them, since their products primarily target the mass market."

Brick-and-mortar Urban Revivo outlets could translate to fewer ethical and political concerns than online "ultra-discounters" such as Shein and Temu, said Yeo.

London is not a new stomping ground for the brand, which opened its first-ever UK store in 2018 — a store that has since closed. However, London might be another tough sell. Yeo said that the UK's sticky inflation numbers might spell trouble for Urban Revivo's sales, as consumers are pulling back on discretionary spending.

The company did not respond to requests for comment.

Watch: Why the retail industry has its eye on Gen Z

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Barneys Plots a Bigger Comeback Thanks to Neiman-Saks Deal

Barneys fate is unclear

Barneys New York, the department store long beloved by rich New Yorkers before a 2019 bankruptcy shuttered its Madison Avenue flagship and other US outlets, is gearing up for a revival of sorts at outposts in Manhattan and beyond.

It’s looking to launch new Barneys products and branch out beyond the perfume and beauty lines established after Authentic Brands Group purchased it out of Chapter 11 , according to a person familiar with the matter. The brand would develop home goods, sportswear, intimates, outerwear and items in other categories to be sold at Saks Fifth Avenue and Neiman Marcus stores, the person said, asking not to be identified.

The plan hinges on the pending $2.65 billion acquisition of Neiman Marcus Group by the owner of Saks. Until now, Barneys’ outposts at Saks have only sold clothing curated from designers, alongside Barneys-brand merchandise that has been limited to beauty products.

Early negotiations around the planned initiative are underway, said the person, adding that no formal agreements had been reached.


Representatives for Authentic, Saks Fifth Avenue and Neiman Marcus declined to comment.

The prospective deals would involve Authentic — the owner of Barneys’ intellectual property — assigning product licenses to new partners. Saks Global — the new company that would be created after the Saks-Neiman merger — would have the right to distribute dozens of new items in home goods and other categories.

Potential distribution would also extend to Barneys’ global stores — it has 10 in Japan — and any other luxury outlets available to Saks Global.

Authentic Brands Group bought the Barneys name out of bankruptcy in late 2019 after its annual Madison Avenue rent alone eclipsed $30 million while competition for shoppers increased.

Sarah Jessica Parker, who memorialised Barneys’ fashion influence in six seasons of HBO’s “Sex and the City,” told Bloomberg at the time that the store was a “beacon” and its demise was “stunning.”

Authentic, a brand-management company whose model involves licensing the trademarks of its properties to partners who design, source, manufacture and sell branded goods, has also snapped up the IP of distressed names including Brooks Brothers, Forever 21 and Eddie Bauer in recent years.

By Eliza Ronalds-Hannon

Learn more:

Can Saks, Neiman Marcus and Amazon Save the American Department Store?

A $2.65 billion merger of two of America’s largest department stores, with involvement from Amazon and Salesforce, is a bet that scale and technology can breathe new life into an ailing business model.

  • Retail : Stores
  • Barneys New York
  • Saks Fifth Avenue
  • Neiman Marcus Group
  • Mergers & Acquisitions

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Supreme’s Sale to EssilorLuxottica, Explained

North Face owner VF Corp is selling the streetwear juggernaut to the Italian eyewear giant for $1.5 billion in cash. BoF breaks down the deal.

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EssilorLuxottica to Buy Supreme for $1.5 Billion

The French-Italian eyewear giant has agreed to buy the streetwear juggernaut from VF Corp. for $1.5 billion in cash, adding another lifestyle brand to a stable that already includes Ray-Ban and Oakley.

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Macy’s Ends Buyout Talks With Activist Investors

The American retailer has effectively closed the door on the take-private offer from real estate firms Arkhouse Management and Brigade Capital. The company’s stock plunged on the news.

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What Fashion Retail Professionals Need to Know Today

BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.

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AI is poised to radically disrupt the fashion industry landscape

by Luana Carcano, The Conversation

digital fashion

Fashion is a dynamic business. Most apparel brands make at least two to four collections per year . While selling current seasonal collections, brands plan for the next ones at least a year in advance, identifying market trends and materials. The selling window is around three months, and unsold inventories represent financial loss.

Fast fashion companies introduce new lines even more frequently, reducing the amount of time needed to design, produce and market new items.

Tech and fashion

The fashion industry is familiar with experimenting with technological frontiers. Some of the most significant technological breakthrough are laser cutting, computer-aided design and more recently, the use of 3D printing in early 2010.

The fashion industry has experimented with basic AI and other cutting-edge technologies . One example is the Gucci Garden , the label's collaboration with virtual world platform Roblox in May 2021 to celebrate the brand's centennial.

Non-fungible tokens (NFTs) are another area of innovation, as seen with the Dolce & Gabbana Genesi Collection in collaboration with UNXD, a digital luxury marketplace. This collection sold for US$6 million, setting a record for NFT sales .

Fashion companies also use blockchains for product authentication, traceability and digital IDs, including those integrated by LVMH/Louis Vuitton , product authentication and traceability.

Additionally, companies have incorporated augmented reality into marketing and retail strategies to create immersive and interactive customer experiences.

Game-changing technology

In 2021, fashion companies invested between 1.6 and 1.8% of their revenues in technology . By 2030, that figure is expected to rise to between three and 3.5%.

Generative AI could become a game-changer for the fashion industry , adding between US$150 and US$250 billion to operating profits within three to five years . While the fashion sector has only started integrating AI, the opportunities and challenges it presents are evident across all business processes .

Generative AI could help fashion companies improve their processes, bring their products to the market faster, sell more efficiently and improve customer experience. Generative AI could also support product development by analyzing large social media and runway show datasets to identify emerging fashion trends .

Estée Lauder Companies and Microsoft have teamed up to open an in-house AI innovation lab for identifying and responding to trends, informing product development and improving customer experiences.

Designers could use AI to visualize different materials and patterns based on past consumer preferences. For example, the Tommy Hilfiger Corporation is collaborating with IBM and the Fashion Institute of Technology in New York on the Reimagine Retail project , which uses AI to analyze consumer data and design new fashion collections.

Designers can also convert sketches and mood boards into 3D designs and 3D print them to speed up prototyping. Iris van Herpen, a Dutch fashion designer, used AI to imagine and execute the visuals of her fall/winter 2023 collection .

AI and sustainability

AI helps in creating more sustainable fashion practices by optimizing the use of resources, recycling materials and reducing waste through more precise manufacturing processes and efficient supply chain and inventory management. For example, H&M uses AI to improve its recycling processes , sort and categorize garments for recycling and promote a circular fashion economy.

AI can improve operations and supply chain processes by optimizing inventory management, predicting sales based on historical data, and reducing overstock and stock-outs. Brands like Zara and H&M already use AI to control supply chains , promoting sustainability by optimizing stock levels and reducing waste. Zara also introduced AI and robotics into their retail stores to speed up online order pick-ups.

AI-powered virtual try-on solutions allow customers to see how clothes will look on them without physically trying them, enhancing the online shopping experience and reducing return rates. Virtual try-ons are already a reality in digital companies, such as prescription eyewear retailer Warby Parker and Amazon .

Another example is Modiface , acquired by French multinational personal care company L'Oréal in 2018, which provides AR-based virtual try-ons for makeup and fashion accessories.

Effective campaigning

AI can also deliver customized customer experiences. Some brands, such as Reebok and Versace , invite their customers to use AI tools to design products inspired by the brand's feel and look.

AI-powered tools can help marketing teams target and maximize the impact of their communication campaigns, potentially reducing marketing costs.

The fashion business includes everything from small companies to global chains, haute couture to ready-to-wear, mass market and fast fashion. Each brand must understand where AI could generate value for their business without diluting their brand identity.

The biggest challenge, however, is to avoid homogenization. Generative AI should not replace human creativity but create new spaces and processes.

Creativity and innovation remain the soul and heart of any fashion brand, and AI should be a tool to enhance and support them. As fashion designer Hussein Chalayan has said, " fashion will renew itself through technology, new fibers, new ways of making clothes ."

AI pitfalls

Fashion companies should be prepared to manage the associated risks with new technologies, particularly regarding intellectual property, creative rights and brand reputation. One of the primary issues is the potential infringement of intellectual property related to training data.

GenAI models are trained on vast design datasets, often containing copyrighted works. This can lead to legal disputes over originality and ownership . A related risk is bias and fairness in generative-AI systems, which may present reputational challenges for brands that rely on the technology.

The ambiguity surrounding creative rights in the age of AI is another concern. It's challenging to determine who holds the creative rights to a design, whether it's the designer who conceptualized the idea, the developer who built the AI or the AI itself. This ambiguity can dilute the authenticity of a brand's creative expression, potentially harming its reputation if consumers perceive the brand as less innovative or authentic.

Provided by The Conversation

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How the Notes app became Gen Z’s Clueless outfit generator

Image may contain Clothing Pants Blazer Coat Jacket Jeans Accessories Jewelry Ring Person and Electronics

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Since the dawn of 1995’s iconic film Clueless , fashion fanatics have been dreaming of Cher Horowitz’s closet outfit generator — put together each day by a fictional computer programme.

AI companies have been vying to recreate the concept , while image-sharing app Pinterest has surged in popularity as Gen Z has looked for ways to log, organise and style outfits from their wardrobes. Now, an unexpected tool has emerged as part of the research phase of the consumer journey: iPhone’s humble Notes app.

Image may contain Person Accessories Bag Handbag Clothing Pants Footwear High Heel and Shoe

It started when Apple released the iOS 17 iPhone update last September. The update allowed iPhone users to create digital stickers from any saved photo image to send through iMessage. Soon, fashion fans began to utilise the sticker function by copying and pasting outfit selfies and logging them to their Notes app, pre-planning outfits based on season or vacation.

Last year, 20-year-old influencer Amelia Keindl received over 4.5 million views on a TikTok video, sharing how she uses the Notes app as an everyday outfit generator by copying and pasting her selfies into avatar-esque stickers. She views it as a lookbook of her wardrobe, “I easily see how pants and tops fit together without having to try them on every time,” says Keindl. Like others who use the app in this way, Keindl has created a personalised system of categorising her outfits by day or night. She also has a tab where she logs clothing purchases to create new outfit combinations.

This summer’s top European hot spots for brand pop-ups

“My favourite organisational method is by temperature,” says Brooklyn-based social media manager Sadie Sullivan; her seasonal organisational tutorial received over 100,000 views on TikTok . Sullivan also uses the Notes app to template and organise her outfits based on events (i.e., casual bar, upscale cocktails, friend’s house, movie dates) and packing for holiday, breaking down her outfits and tailoring them to her upcoming trip itinerary.

Though there are a plethora of outfit planning apps available to download, Notes appeals because it is universally available to iPhone users. “There’s no add-ons, it doesn’t cost money and everyone (who has an iPhone) has access to it,” Sullivan says. “It’s always on my phone, making it easy to jot down ideas whenever inspiration strikes,” agrees Camille Helie, a marketing coordinator based in Sydney, Australia.

Can brands tap in?

Since outfit logging is occurring off-platform through the Notes app, it is difficult for brands to track trends and learn of consumers’ fashion footprints. There is also an anti-consumption message that is at odds with the industry’s current main measure of success — namely growth through selling more products.

Whenever Sullivan thinks she doesn’t have anything to wear, she checks her Notes app — often finding there’s no need to buy something new. This chimes with the “loud budgeting” movement that emerged at the beginning of the year and the “ 75 Hard” style challenge , popularised by trend forecaster Mandy Lee on TikTok, who challenged herself to avoid buying clothes for 75 days. “I realise just how many outfits I can create with one item. It’s tangible proof I have a ton of options in my wardrobe already,” says Sullivan.

“Outfit logging signals a much-needed acceptance of outfit repeating,” says trend and culture researcher Agus Panzoni, especially since accelerated micro-trends have exhausted the lifeline of fashion’s trend cycle .

That’s not to say brands can’t be part of their customers’ research phase and use the opportunity to connect with their communities. “Brands need to adapt by providing tools that help consumers cultivate their own point of view,” says Panzoni. “Fashion brands could create stickers or more easily downloadable styling suggestions in the future, to become part of the Notes app journey.”

Outfit planning platforms more broadly can be useful tools for trend prediction and boosting brand awareness, experts agree.

Image may contain Person Clothing and Pants

“The next iteration of what consumers want to see is thinking about your wardrobe like Spotify Wrapped,” says Bianca Rangecroft, CEO of outfit planning app Whering, which has a million users in the US and another million in Latin America. On the app, users digitally interact with their wardrobes through a concise calendar. It tracks cost per wear, cultivates community by democratising styling inspo and utilises AI for users to create and explore new outfit combinations. The platform also suggests new items based on the person’s existing closet, adding a more compelling commercial element for brands.

“Right now, leopard print is a thing people are wearing in the app,” says Rangecroft. Earlier this year, when a pop of cherry red became popular in fashion, “there was a 1,300 per cent surge in red items uploaded and people logging outfits with red,” she continues. Rather than brands setting and dictating how trends are followed, data from outfit logging permits brands to be responsive to shoppers and their personal style exploration from home.

Lately, data has been crucial in fashion for tracking the rapid micro-trend cycle. Through tracking consumers’ outfit logging, brands can be reactive to trend activity “and push their e-commerce response to that”, says Rangecroft.

Comments, questions or feedback? Email us at [email protected] .

More on this topic:

Dressed in seconds: Testing fashion’s latest generative AI tool

The economy of #OOTD

The story behind Adidas’s $20,000 Roblox necklace

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India Needs Homegrown Product Companies In Semiconductor: Cadence Design's India MD Most multinationals retain product ownership, key value and intellectual property at their headquarters. As a result, India, despite having a vast pool of design talent, lacks significant Indian product companies in the semiconductor industry, says Jaswinder Ahuja, MD, India Cadence Design Systems.

By Shrabona Ghosh Jul 18, 2024

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Cadence Design Systems, one of the leaders in electronic systems design and automation, predicts significant opportunities for Indian companies that own and develop their semiconductor products. "What we are missing in India is the presence of homegrown product companies. Most multinationals retain product ownership, key value, and intellectual property at their headquarters. As a result, India, despite having a vast pool of design talent, lacks significant Indian product companies in the semiconductor industry. This is an area where we hope to see substantial change in the coming years, with the development of more Indian companies that own and develop their semiconductor products," said Jaswinder Ahuja, MD, India and corporate vice-president, international headquarters, Cadence Design Systems.

A combination of specific policies by the Indian government, such as the Design Linked Incentive (DLI) plan, along with the domino effect of the entire ecosystem bootstrapping in India, is set to transform the landscape. However, if a fabrication plant (fab) or an outsourced semiconductor assembly and test (OSAT) facility is established in isolation, it would still rely on global customers to fill its capacity, due to the lack of Indian product companies utilizing these facilities. This highlights the need for a comprehensive approach that encourages the growth of indigenous product companies to fully capitalize on the semiconductor ecosystem being developed in India.

"What we want is for all pieces of the semiconductor value chain to be present in India, given the size and scope of the Indian economy. India has the capacity to support every aspect of this value chain. Of course, this ecosystem will not operate in isolation from the global semiconductor value chain. Instead, it must function as an integral part of the worldwide network, collaborating and interacting seamlessly with the rest of the global semiconductor industry," he explained.

While the world is advancing to 2 and 5 nanometer technology nodes, with production already happening at 5 nanometers and designs being developed for 3 and 2 nanometers, India is taking its first steps with the 28-nanometer node. This highlights that India will not encompass the entire spectrum of semiconductor technologies. "We can certainly develop parts of the front-to-back value chain in India, but achieving the full breadth and depth of this value chain is an unrealistic goal for any single country at this time. It is crucial to recognize that while India can build significant capabilities, it will still rely on the global semiconductor ecosystem for certain advanced technologies," Ahuja added.

DLI scheme and industry collaboration

Over the past 25 years, Cadence Design has nurtured talent in India. Currently, more than 400 engineering colleges nationwide have access to Cadence software, enabling students to utilize it freely for academic and research purposes. "Our engagements extend beyond mere software provision; we actively collaborate with universities on faculty development initiatives and organize student design contests to cultivate enthusiasm and proficiency in using commercial tools for design projects."

Under the India semiconductor mission and government semiconductor policy, two significant initiatives are underway. The first is the Chips to Startups (C2S) initiative, a collaboration with the Indian government aimed at supporting select universities through access to software and comprehensive support. This program facilitates academic and research activities essential for semiconductor design. Additionally, it aligns with the Chip-in initiative overseen by CDAC, enabling universities to engage in both research and development for chip design while fostering startup creation in this critical sector. These initiatives are advancing India's capabilities in semiconductor technology and nurturing a thriving ecosystem for innovation and entrepreneurship in the field.

Another significant initiative by the government of India, distinct from talent development but crucial for promoting product development, is the DLI. According to the Ministry of Electronics & Information technology, DLI Scheme shall extend product design linked incentive of up to 50 per cent of eligible expenditure and product deployment linked incentive of 6 per cent - 4 per cent on net sales for five years. Support will be provided to 100 domestic companies of semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores and semiconductor linked design and facilitating the growth of not less than 20 such companies which can achieve turnover of more than INR.1500 crore in the coming five years.

Under this initiative, Cadence's software plays a pivotal role as it is accessible through the national EDA grid to all startups selected for the DLI program. This integration supports startups across India in leveraging advanced electronic design automation tools to enhance their product development capabilities.

Innovation with AI

Artificial Intelligence (AI) workloads require different types of compute fabrics. While NVIDIA is dominant in the data center segment, there are many other places where AI workloads need to be processed. "We typically talk about AI at the edge where we need semiconductor devices that can process AI workloads for inference or for decision making, but at much lower latencies and at much lower power consumption. The design complexity has been doubling almost every two years or less. For the overall cost of design to remain manageable, companies cannot double their design teams and have twice the amount of time to do semiconductor design. The time to get a product to market windows has been shrinking with time. In this context, Cadence Design's key value propositions to customers is to help improve design productivity," Ahuja explained.

At present the company is trying to incorporate AI-based techniques in all of its software.There's a lot of AI research that's happening inside Cadence to make tools and technology AI-enabled or AI aware or leverage AI so it can deliver that next generation of productivity improvement to customers in complex designs.

Besides, a lot of chips are moving to a new packaging technology called 3D-IC which comes up with its own unique set of challenges. "We are the only company which has a comprehensive solution to solve these kinds of problems, to be able to do 3D-IC design, to package and to do full analysis for thermal, electromagnetic, and other such effects that are key to long-term effective functioning of these 3D-IC chips. This extends beyond electrical analysis and electronic design and goes into the realm of mechanical," he said, explaining the next-gen innovation.

Expansion plans In India

Cadence presently has over 4,000 employees in five locations, which represents over one-third of the company's headcount. "We already have a very sizable presence in India and we will keep growing in line with our business needs. We don't have specific numbers targets, so to speak but our track record of growth in India speaks for itself and we will continue to grow in India as business works

The company inaugurated a new building with a capacity of 600 people in Noida a year and a half back. "We are currently looking at expanding our facilities in Hyderabad, Bangalore and Pune and we should be in a position to make some announcements later in the year," he added.


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Money blog: Pret ditches 'too good to be true' deal'; one of UK's top plastic surgery firms collapses

Welcome to the Money blog, your place for personal finance and consumer news and tips. Leave a comment with your thoughts below.

Thursday 18 July 2024 21:04, UK

  • Pret ditches 'too good to be true' deal
  • Global payments issue resolved
  • One of UK's largest plastic surgery providers collapses
  • Earnings growth falls - and it could have wider consequences
  • Sainsbury's increases meal deal price

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  • Best savings accounts right now
  • Women in Business: 'I set up business with £200 and went on Dragons' Den - now it's worth £1.5m'
  • Basically... What happens when you go bankrupt?
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Ask a question or make a comment

Pret A Manger is scrapping its popular five coffees a day subscription deal - but is also cutting prices of a number of products. 

Under the current club offer, which has been running since 2020, customers pay £30 a month for the free drinks and a 20% discount on the rest of its menu. 

But, from 3 September, Club Pret members will pay £10 a month to receive 50% off on up to five barista-made drinks a day. 

The "simpler" scheme will initially launch at £5 a month for existing and new subscribers, but will increase on 31 March 2025. 

The change also means an end to the 20% discount, with the chain saying it "never really got comfortable" with dual pricing.

Pret's managing director Clare Clough said: "It's almost four years since we introduced our coffee subscription at the height of the pandemic, and I'm proud of the role Club Pret has played for us and our customers since.

"It was an innovative way to reconnect with our loyal customers and introduce Pret to tens of thousands of new ones, bringing customers back into our shops with an offer that almost seemed 'too good to be true'.

"Four years and over a quarter of a billion coffees later, we have decided that it’s time to rethink how it works."

In March, the chain implemented a crackdown to prevent Club Pret subscribers from sharing free drinks.

Some customers were exploiting loopholes by sharing subscription benefits. 

Since then, club members have been required to use the app to redeem their complimentary drinks. 

Pret also announced that its signature 100% organic arabica filter coffee would drop from £1.80 to 99p, and its all butter croissant will also drop from £2.30 to £1.99.

An increasing number of police officers in one of the country's biggest forces are said to be looking for second jobs due to rising living costs.

Sue Murphy, head of vetting and security at Thames Valley Police, said in a report that more staff and officers were looking for a second income "due to the high cost of living and high cost of housing" in the region.

According to the Bucks Free Press , the report said officers used to engage in "'hobby' type roles" - but some were now needing to generate further income to support their families.

Police officers are allowed to take on additional jobs outside their regular work if their force approves it.

According to Ms Murphy's report, Thames Valley Police is "carefully monitoring" the situation in the force, where there has been "continuous turnover of staff" and the risk of an "exhausted workforce" due to staff opting to work longer hours.

Sky News has contacted Thames Valley Police for comment.

NatWest and TSB have become the latest major lenders to announce a range of mortgage rate cuts. 

NatWest will reduce five-year purchase deals by up to 0.23% from tomorrow.

Two-year purchase deals will also decrease by up to 0.14%. 

Remortgage offers will fall by up to 0.18% and first-time buyer deals will be cut by up to 0.14%. 

TSB has said it will reduce rates on two-year fixed first-time buyer and home mover deals by up to 0.1%, and two-year fixed remortgage offers by up to 0.15%. 

The cuts come despite markets now pricing in a less than 50% chance of a Bank of England base rate cut in August - following yesterday's higher-than-expected inflation data.

Hannah Bashford, director at Model Financial Solutions, said the rate changes were "symbolic given the inflation data". 

"The war of rates is still raging. Hopefully the competition between banks and a tussle to be at the top and win business for the second half of the year will mean rates continue to fall throughout the summer," she told Newspage. 

Earlier this week, Virgin Money, Accord Mortgages, The Mortgage Works and Co-op Bank all dropped their rates as they started looking ahead to the Bank of England's interest rate decision in August. 

Carpetright's biggest rival has moved closer to buying its troubled competitor. 

Tapi, which was set up by the family who founded Carpetright, has placed a formal bid to purchase the brand name and a number of stores. 

If approved, the deal could save hundreds of stores and jobs. 

Carpetright put itself up for sale last week, appointing PwC as an administrator. 

It currently trades from more than 270 stores across the UK.

Sky News has contacted Tapi and Carpetright for comment. 

A global payments issue that hit the Bank of England this afternoon has been resolved - you can read more about this in our 15.03 post. 

The Bank has just issued a statement saying a third-party supplier has fixed the problem and payments are "settling as normal". 

"We expect that all payments received by the Bank today will be settled by the end of the day," it says. 

"If you are concerned about a CHAPS payment you plan to make or receive today, please contact your bank, or other payment service provider." 

Sky News understands the problem was not caused by a cyber incident. 

The CHAPS system is used for high-value payments, meaning some house purchases have been delayed today. 

One of the UK's largest plastic surgery providers has collapsed. 

The Skin Group, which has more than 70 branches across the UK, was also the owner of Skin Clinics, the Harley Medical Group, Skin Brands the Skin Experts and ABC Medical. 

In a message to customers, it said all the brands had "ceased trading". 

Its website displayed a note saying the company had "undertaken an extensive process to secure investment to enable it to continue trading but sadly we've been unsuccessful".

"We recognise this outcome will have a significant impact on our team members and our customers and we are deeply sorry for the stress and inconvenience this has caused." 

Clients still awaiting test results will be contacted as soon as possible, it added.

Communications firm Kendrick, which was Skin's PR agency, wrote in a post on Instagram that it was "blindsided" by the news.

"We have no information as yet regarding how things are being managed by Skin or the administrators, or how cancelled patient appointments / payments etc will be redressed," it said.

"We are sorry to have no news to share – this situation has blindsided us all. Should anything change in this regard, we will share relevant updates on our channels." 

A "global payments issue" has hit the Bank of England's CHAPS service. 

The issue is causing delays to high-value and time-sensitive payments, including some house purchases, the Bank says. 

"We are mindful of the impact this is likely to have and are working closely with a third-party supplier, industry and other authorities to resolve the issue as promptly as possible," it says. 

Retail payment systems and cash machines have not been affected. 

It is not clear how many payments have been impacted by the issue, which the Bank has been aware of since midday. 

Sky News understands a cyber incident has been ruled out.

Director of Thomas Legal, Chris Barry says the issue will affect property exchanges and completions up and down the country today. 

"Whilst many completions are preset and happen earlier in the day, some will still happen between the issue being announced and the cut off of 4pm," he told Newspage. 

"For many, this has just made an already stressful day even more stressful. Most contracts have a 12pm or 1pm hard time embedded, so if the payment is being made now, they are technically in breach of contract." 

CHAPS is one of the largest high-value payment systems in the world. 

High street banks and a number of international banks use the system to make large payments, with the system processing around £350bn a day. 

It can also be used by people spending lots of money - up to millions of pounds - on items such as cars, boats and properties. 

Our business presenter Ian King says it's not uncommon for CHAPS to experience problems, but the fact it's a global issue "does raise one or two eyebrows". 

"The problems usually crop up when one bank or another is experiencing a particularly heavy workload, and that's when delays can happen," he says. 

"Potentially, it could cause a lot of aggravation for people who are trying to complete on a housing transaction today.

"It is a big part of the financial plumbing for the financial services industry." 

Has your house purchase been delayed because of the issue? If so, we would like to hear from you. 

To get in touch,  send us a message on WhatsApp.

By doing so, you agree we can broadcast, publish and edit the material without any payment being due to you.

By James Sillars , business reporter

There has been no second interest rate cut by the European Central Bank (ECB), as widely expected.

The body responsible for monetary policy in the euro area maintained its current guidance on the path ahead following its latest meeting.

As such, there were no hints about what the governing council might do at its next meeting in September.

The rates announcement said that domestic price pressures remained elevated, and inflation would remain above the ECB's 2% target well into next year.

For Savings Guide this week, Savings Champion co-founder Anna Bowes explains why savers should be excited by yesterday's inflation figures... 

Headline inflation as measured by the Consumer Prices Index remained at the government target of 2% for June.

It returning to these levels means prices are rising less quickly than they have been over the last couple of years. 

For savers, it means that, currently, over 90% of savings accounts are offering a rate that beats the rising current cost of living.

But savers should be aware there are still accounts out there paying less than 2%. 

The National Savings & Investments Investment Account is paying just 1% - when you could earn 5.2% in the Ulster Bank Loyalty Account. 

On a deposit of £10,000, that would mean that you'd earn just £100 rather than £520 with over 12 months. 

More importantly, with your cash earning less than inflation, it is failing to keep up with the rising cost of living, so the real value of your cash is being decimated.

There are currently more accounts than ever for savers to choose from, but don't let choice paralysis and inertia stop you from earning the interest you deserve.

Here are some of your other options...

Santander has announced it will "now stop any payments with profanities in the reference" for its business banking customers. 

Several high street banks do not allow swearing in the references already so Santander is not alone, but it has still raised a few eyebrows.

A Santander spokesperson told the Money team it had implemented the guidance to protect customers. 

"Sadly, we've seen an increase in the number of customers receiving abusive messages and threats via faster payment messages," they said. 

"This can include customers in abusive relationships or those that have put restraining orders in place to protect themselves, and go on to receive death threats and targeted abuse in payments being made to them. 

"We hope that this new guidance will help our most vulnerable customers and protect them from receiving abuse via payments."

You can let us know your thoughts on the changes in the comments section above - but here's what some business people told Newspage...

Graham Cox, director at Self-Employed Mortgage Hub, said: "When you consider the vile comments left on social media these days, it can't be much fun for Santander's staff constantly viewing profanities on banking transactions."

Stephen Perkins, managing director at Yellow Brick Mortgages, said Santander censoring and blocking payments seemed "a little heavy-handed".

"While it's great that Santander cares about decency, this move feels a bit like your overly strict aunt scolding you for harmless jokes. We really don't need Big Brother banking," said Ranald Mitchell, director at Charwin Mortgages.

And Hannah Bashford, director at Model Financial Solutions, said: "Santander's proposal to filter profanities in the business banking app is unnecessary and may have the unintended consequence of blocking business for some the Britain's rudest named villages. 

"Does that mean all holidays to Sandy Balls are cancelled?"

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fashion industry business plans


  1. Fashion Business Plan Template [Updated 2024]

    Fashion Business Plan Template. Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their fashion businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a fashion business ...

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    Business Overview: [Sender.Company] is a (Genre) -inspired fashion business that emphasizes selling new, chick and urban designs to its customers. We plan to sell our products in our specialty boutique and eventually to department stores. We also wish to sell the clothing line on third-party e-commerce sites by the end of the year.

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    A fashion business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document. The fashion business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your fashion as ...

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    In your business plan, document how you will create a unique brand identity that sets your online boutique apart from competitors. This includes developing a memorable brand name, logo, and tagline, as well as defining your brand's values, voice, and visual style. Many stores offer customer retention incentives like loyalty programs.

  17. How to Write a Fashion Business Plan in 10 Easy Steps

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  18. FASHION BUSINESS PLAN: Template & How to Write

    Include the summary of your brand and indicate what makes it unique from other fashion brands. Mention your target market, target revenue goals, and also the timeframe in which these goals will be achieved. Make sure this section does not exceed two paragraphs. It should be the last item in your fashion business plan.

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