In the News: Funding Fashion Shows, Improving Supply Chains, and Reaching Latinx Consumers
Welcome to another edition of In The News, where we share an exciting roundup of the past month’s most captivating events and announcements in the world of fashion, wholesale and retail.
The international fashion schedule has come to a close, after a great deal of runway shows and presentations. For emerging designers, it’s usually a really costly endeavor to generate media buzz and build relationships via well-produced runway shows during fashion week.
In the fashion industry, there is always room for improvement and both the supply chain and the wholesale model in the US have recently come under scrutiny for overproduction and unsustainable practices.
The holidays are round the corner and retailers have begun to consider how they might drive sales through effective marketing campaigns, or engaging with a growing demographic of consumers. Read on below.
How Small Brands Fund Fashion Shows on a Budget
Ever wondered how much it costs for an independent brand to produce a runway show during fashion week? Business of Fashion shares an insider view into how small fashion brands secure funding for their fashion shows, a critical aspect of showcasing their collections and gaining visibility in the competitive industry. It highlights the challenges these brands face in securing financial backing due to limited resources and offers insights into various strategies they employ. These strategies include leveraging sponsorships from brands, collaborating with non-profit organizations, award prize money, and partnering with retailers. The article emphasizes the importance of creativity and resourcefulness for small brands to successfully fund and execute their fashion shows, enabling them to make their mark in the fashion world.
– Business of Fashion
Can Fashion Future-Proof Its Supply Chains?
The fashion industry’s supply chain is a hot topic this month – we examined how brands are building resiliency into their processes – and Vogue Business takes us into the inaugural Regenerative Fashion Conference, where experts presented their vision for overhauling the system. The article explores insights and discussions from the Regenerative Fashion conference, emphasizing the need for a paradigm shift towards regenerative practices that prioritize positive environmental and social impacts. The conference highlighted examples of regenerative agriculture, material innovations, and circular business models that can reshape the industry. It also underlines the significance of collaborations, investment, and policy changes to accelerate the adoption of regenerative fashion practices across the sector.
– Vogue Business
How Retailers Plan to Promote Their Stores for Last-Minute Holiday Orders
As the festive season draws near, Modern Retail explores how retailers are planning to promote their stores for last-minute holiday orders, focusing on the strategies and marketing approaches retailers are employing to capture the attention of consumers during the festive season rush. The article emphasizes the significance of convenience, deals, promotions, and leveraging online and offline channels to drive sales and meet the demand for last-minute shopping. It also highlights the importance of effective marketing campaigns and customer engagement to entice shoppers and maximize sales during the holiday period.
– Modern Retail
How to Reach the Next Generation of Latino Consumers
It’s Hispanic Heritage Month, and business publication Inc aptly outlines strategies for reaching the next generation of Latino consumers. It discusses the evolving preferences and characteristics of this demographic, highlighting the importance of cultural understanding and personalized marketing approaches. The article highlights the significance of authenticity, community engagement, digital platforms, and cultural relevance in connecting with Latino consumers effectively. It encourages businesses to adapt their strategies to resonate with the unique values and expectations of the next generation of Latino consumers for sustainable growth and success.
The US Wholesale Model Is Hurting Everyone
Also at Vogue Business, a look at the challenges posed by the traditional wholesale model in the fashion industry, particularly in the United States. It highlights how this model, which includes the practice of selling large quantities of inventory to retailers at a discounted price, often leads to excess inventory, markdowns, and financial strain for both brands and retailers. The article discusses how this outdated system has been exacerbated by factors like overproduction, lack of innovation, and changing consumer behavior. It advocates for a shift towards a more sustainable and direct-to-consumer model, aligning with changing market dynamics and consumer preferences.
– Vogue Business