Fashion : Reclaiming Revenue
The traditional model were press and buyers would come to Fashion Shows. The press would give either a rave review of the collection or trash the collection and that designer would have to figure out a way to pay back investors.
Until Rebecca Minkoff who revolutionized the Fashion Industry last season with her wearables and let her customers in her flagship store to watch her show that was streamed live from her fashion week location.
However, we had to wait till fall to buy her gorgeous collection.
This season Rebecca Minkoff is not waiting until approval from buyers, she designed a collection that would be store ready. So in two weeks when she opens the door for her viewing party to her customers, after watching yet another amazing show, they can directly make purchases.
This is a great way to optimize revenue and give customers exactly what they want on demand.
Many designers who don't design to be buyer ready miss out on key opportunities to maximize revenue directly to their customers.
Key is not to loose the art aspect of it, which can be achieved through music even live music, lighting and stage production.
But remember it's the clothes that people are ultimately interested in purchasing.
Cheers to a new business model in fashion!