Doe Deere is an inspiring woman who has spent her time over the years working hard to build her brand to what it is known to be today. Lime Crime is a very successful brand that continues to create big changes in the world of makeup. Businesses are always trying to improve what they have, and Deere is no exception. Today, she has built additional hair dye products to be added to the brand. They are not stopping with just that either. Deere wants to continue improving and adding new products to the company. Building a business for her wasn’t an overnight process considering the fact that she had started this business with barely $50 to her name. She started off small and built Lime Crime from the ground up.
Growing a business the way she did is very interesting. You never know what she is capable of. Doe Deere is ultimately one of the few makeup artists who knows and understands the ups and downs of business. It all begins with passion. Without having a passion for that business, your ideas won’t come forth and you also will lose interest when it isn’t going your way. Businesses must be thought through carefully and they need to be something that you are passionate about. What’s three things you genuinely care about? Find the different ways you can build a business off of those unique interests. Are they something you’re totally into? Is it profitable?
Once you know what is profitable and interests you, you need to find out the right process of which your brand is going to grow. For example, you need a business plan that dictates what company you’re going to build and what you’ll be doing to earn that money. Are you selling a product? What are you offering to service others?
Through this business plan, you should be able to write down all of the upfront business expenses required in order to start this company. Through that, you can pitch that to business investors who will invest their money into your business and you could use that to help start the brand from scratch. This upfront cash is helpful for guiding you towards making more money and getting on the right path. This money you receive is going to be a good way to get what you need so you can get started right away and building that brand.
In the modern apparel industry, ‘high-value brands’ are determined by a lot of factors. These days, due to a shift in the economy, consumers not long rate a brand ‘high-value’ based on the price and quality only. Additional determiners that are used to judge fashion lines include brand recognition, gamification elements, customer experience, exclusive design and last-mile service.
Success in a Tough Industry
Amazon currently controls a fifth of the e-commerce market share in the fashion industry. Other top brands in the industry also increase competition. Therefore, succeeding in the fashion industry is no mean feat. Kate Hudson’s Fabletics is an example of such a business. The apparel company was founded three years ago and is valued at $250 million at the moment. It specializes in female sportswear and sports accessories. The company sells clothing to its clients through a subscription mechanic.
Fabletics has a unique formula which has guaranteed it success since its inception. This formula is a blend of convenience, membership and a brand that has prestige. A top executive at Fabletics says that the huge amount of success the company has got is due to being a ‘high-value brand’ since it was formed. Another thing he said led to the brand’s success is their membership model which allowed them to design products according to customers’ tastes and to offer their products at half the rate of their competitors. He added that the process is very easy to cheer people up once you determine their preferences and who they are.
Reverse Showroom Strategy
Fabletics might have started out as an online subscription-based retail company, but it is slowly embracing the e-commerce showroom approach. The problem of online stores is showrooming where a client browses your products but then proceeds to buy them elsewhere at a lower price. Warby Parker and Apple started out the same way but later started opening physical stores once they noticed that visitors headed elsewhere to purchase goods. This is called the ‘reverse showrooming strategy.’
Fabletics has improved on this approach and is more aggressive on it. It plans to open three more stores adding on to the sixteen it already has in different parts of the country. It opens stores where they are more accessible to clients. Customers products are added to their online shopping cart once they try them. It does not matter where they buy as Fabletics believes that retail is an element of service.
Reviewers were very happy with the products they got at Fabletics. One reviewer was excited about the purchase of an entire outfit for only $25 in the VIP program. Most of the reviewers praised Fabletics for the popular and on fashion products that it had. The discount offered upon the first purchase went well with customers as well as the free shipping that the VIP programs offer.