When it comes to starting your own fashion line you have to think outside the box. While not everyone is a fashion prodigy like those famous and world class designers you see in ads everywhere, those with an interest in fashion can create a stable and thriving future with their brand. Passion and ambition are both very essential qualities that one must possess when aspiring to create a fashion line, however, these are not only what you need. A successful brand requires the right kind of life cycle management.
If this is the first time you heard about life cycle management, then here is a brief explanation on what it and how your future business depends on it. Life cycle management in the world of fashion is like the chain in a bicycle. You have everything you need but your bicycle will not move without the chain. There are PLM software that can make your life easier from A to Z.
The Life Cycle
This starts from the time the product is first launched into the market until it is withdrawn. The cycle is divided into different phases. This is the time when most of the changes are made depending on various factors to increase the profits that the product brings in. So how is this relevant to starting your own fashion line? Simple, you created this fashion line with the desire to earn from the venture. This means you want your product to sell and with proper product lifecycle management you can do that. Some tips for product lifecycle management or PLM are found in the steps below:
Start your Fashion Line the Smart Way
- Research – Well-known and selling brands usually have a certain item that is their original creation. Like JVF’s wrap dress, Hermes’ Birkin and Tory Burch’s flats. You have to figure out something you can offer the market that you will easily be remembered by. How can you do this? Do research about the trends in your area, your resources and etc. This is the first stage of PLM, product development. Use your PLM software to get you started.
- Funds – It is unfortunate to say but even small start-up fashion lines require capital for it to grow. Find the source of your funds; do you have cash saved up? Or perhaps you can apply for a loan. Ideas are great but you need cash to put it into action.
- Creation – If you have an idea but are not good with illustrating, get someone to help you out like an artistic friend who can out your ideas into paper. Afterwards you can start making a prototype, using inexpensive materials like canvas will allow you to get a 3D image of your design.
- Make It – Once you are happy with the design and the prototype, find the materials you can use for the product and a way to get it made. This may require sourcing out a factory that makes the products you are creating like a factory or a seamstress making coats or pants.
- Sell – Now it’s time to see how your product does in the market. This is where the rest of the PLM stages come in; product introduction, growth, maturity and decline.
Keep these tips in mind and make sure to start your fashion line smartly using the PLM stages and software.