Fashion Brand'S Success

Dazzling costumes, exotic models and beautiful parties may sound like entertainment and games.

However, when you peel off layers of glamorous cloak, you will soon see that fashion is not a pastime, accurate, but a trillion dollar business.

Especially the most fashionable face of fashion - tightly clutching our hearts.

Despite the economic downturn, quality brands continue to thrive.

LVMH group announced its first quarter earnings in mid 4, revealing that its revenue surged by 25% under the group's fashion and leather products division.

At the same time, the share of middle and top grade retailers including Macy Messi, Dillard 's and Colls (Kohl' s) has also been rising in recent years. S

Among them, Messi department store maintained nearly 52 weeks of high growth, almost double last year.

Michael Coles, the American designer who specializes in luxury accessories and advanced garment design, was first launched in December last year, and the company's valuation is $3 billion 630 million for Michael Kors.

Fashion blogs are also full of money.

After 6 years of operation, Refinery29, a fashion, beauty and shopping blog associated with digitalization, is estimated to be worth $20 million.

All these are good news and extraordinary stories. In fact, the fashion industry is full of disappointment and failure.

Many energetic and even creative designers feel that they have been battered by cash and often go out of business unexpectedly.

Indeed, there is no simple formula for success in the fashion industry, but we can see if we can at least come up with a small strategy for a thriving fashion company.

For this reason, a reporter from the fashion lifestyle section of a financial media in the United States talked with executives of 3 online fashion companies (THEOUTNET, Polyvore and Covetique) and put forward many different suggestions.

Although the target markets of these 3 companies are quite different, there are still some similarities in the strategic recommendations offered to them.

Summarized as follows:

Aim at the weaknesses of the market, because customers are often attracted by what they need but are hard to get.

Create a strong and creative tablet experience for prospective customers, because most fashionable people now use digital browsing and shopping methods.

Listen to customer feedback, because they know best about your product and may give hints on the whole target market.

The following are the experiences of executives of these retailers:

Successful case 1:

The key to the success of the website is the combination of the continuous consumption of loyal consumers and the provision of high-end discount products in the global market.

One example of this strategy is THE OUTNET's attention to the Chinese luxury market.

THE OUTNET used to be the sister website of Net-a-Porter, and Net-a-Porter is the first online fashion luxury retailer facing the smartest customers in the world.

When it was founded in 2009, THE OUTNET was a sales agent for the luxury retailer, and it was more prudent in the economy to sell the designer's clothes wholesale.

However, 3 years later, THE OUTNET has grown stronger and is no longer looking for others.

They are said to be knowledgeable about fashion, whose average household income exceeds $175 thousand.

This website in the UK is based on uniqueness and extraordinary design.

According to relevant media reports, the annual turnover of THEOUTNET is estimated to be US $50 million since August 2011.

Luxury discounts have never been so great.

Recently, THEOUTNET has cut 75% of its clothing series over 200 designer brands.

Net-a-Porter and THE OUTNET are subsidiary companies of Richemont, a Swiss luxury group.

In 2011 alone, the two companies jointly attracted 4 million consumers who are very concerned about style.

Stefanelli Phil, general manager of THE OUTNET, is likely to take over the already thriving company. What she sees is greater profits later.

Stefanelli Phil said: "to do any business, the third anniversary is an exciting combination.

We have made some changes in the look and feel of the website, and our team has invested in the Net-a-Porter's existing team and resource utilization loan from 5 people who started to grow, and has grown to more than 80 people in the United States, New York, London and Shanghai.

We promise to provide quality products and luxury services to THEOUTNET customers, and have never hesitated, which is rare in the discount world.

Although THE OUTNET is in line with the above concept, its establishment is not a response to the economic recession.

"Net-a-Porter conceived the idea of THEOUTNET as a few months before I joined the company to start and run business in February 2009.

Any mature business needs wholesalers, but Net-a-Porter recognizes a loyal discounted shopper and a good opportunity to serve her through its marketing and special discount websites.

Stefanelli Phil said.

The key to the success of the website is the combination of the continuous consumption of loyal consumers and the provision of high-end discount products in the global market.

One example of this strategy is THEOUTNET's concern for the Chinese luxury market.

Stefanelli Phil said: "our unique proposition and customer satisfaction and consumption stimulate growth.

Here can give an index of repeat business: we have VIP customers who spend more than 50% times every two weeks.

The ability to enter the rapidly developing Asian market is also very helpful.

From the first day of its establishment, the business provided by THEOUTNET is global, with 170 countries, including China.

We know that China is a huge market, so we wanted to build a special Chinese website to explore the Chinese market as quickly as possible.

THE OUTNET Chinese website was launched in March. "

"With the recent launch of the THE OUTNET Chinese website and the launch of third distribution centers in Hongkong by Net-a-Porter, we can see the great potential of the Asia Pacific region."

She said.

THE OUTNET certainly has the ability to maintain its loyal customer base, not only because of its fashionable products, but also because of its strategic website design.

"The core of our identity is our brand slogan," the most fashionable fashion wholesaler. "

We carefully edit the series so that our customers can buy the most desirable and fashionable products, no matter what season. "

Stefanelli Phil said.

Consistent with the forward-looking website design, THE OUTNET is making an excellent integration of mobile shopping experience through the phone tablet.

Stefanelli Phil continued: "THE OUTNET's customers have the ability to spend on fashion luxury goods, and the range of shopping goes across a series of online fashion luxury retailers, mixing and matching many designer works and matching this season with the previous season or previous styles.

We know that when our customers shop, they mainly operate on notebooks, but they may also have iPhone or iPad. "

"Based on this idea, a large part of our marketing strategy this year is to ensure that we can cross all devices to provide seamless shopping experience for our customers.

At present, our attention has been focused on optimizing mobile nodes and creating StyleCred for iPhone applications, so that customers can create and share photos and earn store integrals.

We will also observe and create applications that span other devices, and take other measures for other things we develop, because we firmly believe that this will enhance the customer's shopping experience, not just to do it. "

She said.

The reason for this is that she reported that sales of mobile phones would be very strong, and sales from iPad would be 4 times that of mobile phones.

"Therefore, we are excited about the possibility of emerging platforms as a growth channel in the coming year.

We are thinking about other areas that can co-exist with our existing fashion products. "

Stefanelli Phil said.

Successful case two:

We have become a place where anyone can express their fashion sense.

This is almost like fashion democracy. Anyone can make a speech.

With the rise of social media, we are trying to make the new fashion sound heard by the public.

Polyvore network is an online community of fashionable fashion leaders. It displays unique styles and leads the trend globally through an abstract collage called "collection".

Polyvore network is not only a platform for expressing creative style, but also a channel for retail consumption, allowing consumers to access the purchase information of all characteristic products.

"The origin of the website is actually based on interior design," Pasha Sadri said. "At that time, I was busy with the construction of my home, choosing various styles for the bathroom and kitchen, and taking it as an interior design project.

I spent a lot of money browsing magazines and websites, so that I could find some clippings that could inspire me and put them in my folder.

At that time, I was a software engineer, like "there must be a better way to organize all these things."

So I soon built a prototype version, which became the core of Polyvore.

Initially, the idea of interior design hobby eventually evolved into an online fashion community.

"We choose fashion because fashion is what people use every day. In contrast, interior design is needed every few years or longer."

He said.

Today, the Polyvore network has a unique monthly visitor volume of 15 million.

According to relevant media reports, Polyvore network raised $14 million in C series financing in January.

The financing was led by DAG Ventures, including the Goldman Sachs, Vivi Nev (NV investment), Benchmark Capital and Matrix Partners, which increased the total funds to more than $22 million.

When the company started, Jess Lee said, "we have become a place where anyone can express their fashion sense.

So it's almost like fashion democracy, and anyone can say anything like "Hey, this is what I think is fashionable."

Fashion has always been a top-down industry, which is very unique.

Fashion used to be very closed, but with the rise of social media, the design of Twitter network and Facebook web pages, as well as programs like "Overpass", let us see more scenes behind the scenes.

So we are working hard to make the new fashion sound heard by the public.

Typical users of the Polyvore network are people who crave for fashion and fashion every day. They use their bodies as palette to evoke every fantasy and fantasy with their clothes.

However, the Polyvore community is full of fashion professionals such as stylists, designers and people who are keen to create their own fashion careers.

Polyvore network has developed a small startup strategy to monitor user behavior and record multiple changes in the community.

Pasha Sadri said: "we have typical tests of multiple changes, so we may run three slightly different versions of the same website in a week.

At weekends, we check the data, but we usually choose the best version and improve it. "

"We divide the Polyvore users into two parts.

The first part is the most important person who really contributes to the website in the community.

They are the publishers of actual series and styles.

But like all community websites, their numbers are actually very few, and more are the audiences who interact with the content they create.

Pasha Sadri explained.

Polyvore network is exploring further mobile devices and tablet applications.

"Polyvore network is first a desktop experience, but recently we have increased the mobile version of the website and see its great attraction.

We are now working on the iPad version of the website, and we are very excited about it, because the beautiful image of the Polyvore network will look excellent on the tablet device, and it has a little experience in fashion magazines.

He added.

Polyvore has successfully entered the digital arena, but its founders are very clear about what needs to be done to develop into a profitable online fashion business.

Jess Lee said: "we believe that the Internet is a more competitive environment and a democratic medium.

If you look at creating a TV program or publishing a book, finding a studio or publishing a lot of obstacles.

Building websites is not that difficult.

Of course, you need to gather a team of people who know how to build websites. Anyone can register a domain name and get a website.

Jess Lee even used his current status to help users go further into the fashion.

She told the media, "the theme of the democratic nature of the Internet is what we are trying to apply to fashion, because it is so close.

So when we come to a partnership to help users get the opportunity to get the fashion industry, we are really excited. "

Polyvore has provided opportunities for selected users, such as traveling with Piperlime, traveling to the fashion magazine office in New York, and going to the Piperlime fashion show in New York fashion week.

The founder of Polyvore network will expand the number of wise proposals, emphasizing the need to separate a product from others.

"Our philosophy is to try to do things very well.

One of the beauty of the Internet is that if you have excellent products or services, you will have an opportunity to start and succeed.

Pasha Sadri said.

"Sometimes we joked," can we build the next Anna Wintour in Polyvore network? "Jess Li added." so, for those who want to start their own fashion business, go online, "Anna Winter added.

Create folders, publish your works to the Internet, participate in Polyvore, get Twitter accounts.

You can do a lot of things only with the tools available online.

Successful case three:

Nowadays, individuals are increasingly concerned about how to extract the maximum value from existing assets, such as house renting, car sharing and clothes in wardrobes. There is great value in the wardrobe of global women, and buyers from all over the world have great demand for high quality "cheap luxuries".

Prior to the creation of Covetique, an online center of second-hand luxury and luxury goods, its co-founder and CEO Nicola McClafferty (Nicola McClafferty) spent 6 years in venture capital investment in Europe's largest venture capital Balderton Capital, and its recent work experience was focused on media consulting and investment enterprise Ravensbeck, first focusing on e-commerce and digital media business.

McClafferty set up a Covetique network in 2011, trying to redefine the second-hand fashion and luxury industry, changing women's thinking about buying and selling second-hand luxury goods.

Covetique connects individual sellers and buyers around the world.

The second hand fashion series of Covetique network covers from ElieSaab and Fendi to Lot78 and Pinko.

Nicola Macrafite described to the media: "nowadays, individuals are increasingly concerned about how to extract the maximum value from existing assets, such as housing rental, car sharing, clothes in wardrobes, and so on. There are great value in the wardrobe of global women, but the existing secondary market has not been fully classified.

The online sale process is too cumbersome, and the eBay network is not always the right platform for high value, high-end fashion luxury goods.

In parallel, buyers from all over the world have great demand for high quality "cheap luxuries".

She continued: "the establishment of the Covetique network aims to provide a luxury free online sale of fashionable luxury goods and provide reliable retail destinations worldwide with affordable prices for high quality fashion luxury goods."

Nicola Macrafite wants to eliminate the inherent belief that selling second-hand fashion online is a waste of time and trouble.

She said, "we collect all products directly from the seller, manage the list and do well from the beginning to the end."

Providing such services is crucial to maintaining the target market of Covetique.

"As a market, we aim to include both sellers and buyers.

Our typical sellers cover women who can spend a lot of money on the designer's brand and spend a lot of money on the designer's brand every single time, until they buy occasional designer limited edition works. Our sellers do not have much time to resist the tedious online shopping or sale of websites.

Our buyers are very knowledgeable and ambitious women. They may buy a piece of designer work for a special occasion.

Now, they can get those works more easily. "

Nicola Macrafite said.

The Covetique market is not big at present, and it is making use of partnership to get a larger buyer and seller group.

At the same time, it is developing social media platform to establish friendly relations with its buyers, such as opening the home page of Covetique network on Twitter.

Nicola Macrafite explained: "our energy is focused on building a huge seller network to ensure the overall breadth and depth of inventory.

This means that we need to provide many different designer brands, sizes and styles all over the world. We also have channels for new content and new features. In the next few months and throughout the year, we will extend the website to enhance the online experience of buyers and sellers.

"Now our concern is in the British market."

She said.

But obviously, the wardrobe of Covetique sellers is also an international dream.

"We have been able to deliver their goods all over the world. We firmly believe that there are global business opportunities and will closely observe international expansion in the coming years."

She explained.

Covetique network has not yet launched a physical store plan, but the use of a variety of retail outlets is an important part of Covetique's long-term growth.

"We do not have a plan to start a physical store, but we do see that non online business is also an important part of our business.

We are exploring a number of events that we may participate in or maintain ourselves for buyers and sellers.

For example, as part of the start-up, we held a buyer's night.

As mentioned above, international expansion is also our concern. "

She said.

As a small business owner, Nicola Macrafite advices for others who want to enter the business.

"Online fashion space is developing rapidly, whether in content, social interaction, discovery or e-commerce, in the past 2 to 3 years, we have foreseen more new models and innovations in this field than ever foreseen.

But it also means a lot of competition to win the attention of the discerning fashion consumers.

She said.

Here is a concise and powerful bottom line proposal that can serve as an applicable spell for fashion stars and entrepreneurs.

"If you want to create new businesses, make sure that you have identified the real gaps in the market, and that the proposal can be supported by a strong financial model.

Brand is the key, and customer experience and service must not be compromised.