HOW TO MAKE MONEY *FAST* IN THE FASHION INDUSTRY
Five important lessons from the industry's leading brands and designers. Oh yes, this is very much happening right now.
Just imagine you (yes, you) starting your own business, and within only a couple of years, becoming one of the richest people in the world, doing a job you’ve always dreamed of doing. #Goals, right? In case you didn’t know (but we’re pretty sure you do), fashion is a 2.5 trillion-dollar industry, and well, we think it’s time for you to get in on it while the game is hot. And we’re not going to beat around the bush about it, either. We’re giving it to you straight, no bullshit, so you can start making money right away. After all, there’s few truer statements than, “Time is money.” Shall we?
Do everything yourself
First things first: you want to be at the top, you’ve got to run things yourself. You must control the entire process – from design to the consumer. This means you’ve got to take on both roles as manufacturer and retailer. This will majorly cut down the time of lengthy production cycles. Your ideal turnaround cycle should be between 2-4 weeks, which will allow you to put out a minimum 12-24 collections per year! Cha-ching!
Optimization is key
In order to maintain a quick turnaround as mentioned above, you will have to optimize every step along the way. What do we mean by optimize? Glad you asked. Things like sewing, garment design, fabric sourcing, etcetera, etcetera, must be operated at the lowest minimum cost humanly possible. Labor will also need to be optimized. As far as laws and wages go, it is in your best interest to stretch those boundaries as much as you can. If there is a way you can go around it, then do so. That way, when it’s time to put clothes on racks in stores, your prices will be super low, which will entice thousands of potential customers.
Stick to trend-based designs
This is probably the most important thing out of this whole list, so put down your coffee and pay close attention. Since you will be making and stocking clothes every two weeks, you must intentionally design your clothes to go out of style within two weeks. It’s a simple theory, but extremely effective. The idea is demand. When a customer comes into one of your stores, you want them to have a sense of urgency; that feeling that they can’t leave the store without buying your clothes. If your customer knows that your items will be gone within two weeks, guess what? You just made your first sell. And here’s the real bonus. The item that your customers bought yesterday will be out of style in two weeks, which means…
Cut your designs
In order to produce twenty-four collections a year, you’ll need to compromise somewhere. Instead of spending months and months cultivating new, original ideas, the quickest and easiest way is to replicate what’s already coming down the runway. That’s what consumers want anyway, so give them exactly what they want. And don’t worry; you can straight-up copy designs without having to worry about intellectual property lawsuits.
Produce your clothes in less-regulated countries
The smartest thing to do is to go to places like China, India, Vietnam, and Bangladesh where labor is cheap, that way you can easily avoid having to shell out thousands of dollars for your worker’s salaries, which will of course take away from your personal profit. In these countries, safety, health and human rights laws are so lax you most likely won’t come across any issues.
Hopefully, you understand by this point that this has all been written in satire. All joking aside, we, of course, do NOT support the fast fashion industry by any means.
As you can see the way to making big money fast in the fashion industry is to barter ethics and morals for the sake of turning a higher profit. Blatant design piracy and cheap labor from third-world countries are just a couple things that brands like H&M, Zara, and Nasty Gal stick because they can get away with it. How? Well, for one, we consume it and we all know there’s really no ethics in business. But if we stop shopping from their brands, they’ll be forced to change. It’s simple math: supply and demand. What we demand is what they will supply. Not shopping from fast fashion houses is the biggest statement we can possibly make.
We used to be all about fashion fashion…until we found out the truth. And TBH, it wasn’t an easy decision to quit fast fashion because not only is it ubiquitous, but ethical fashion is more expensive and less accessible. But we finally made the decision and couldn’t feel better about it. We hope you will too. What to know more about why you should give it up for good? Just read this. Ready to quit fast fashion, but not quite sure how? No worries; we break it down for you here.
What did you think of these facts? Were any of them staggering? If so, share which one and any other thoughts in the comments section below!
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