| Costing Ready Reckoner | Fabric ready Reckoner | Price per m US$ | |||||||||||||
| From | To | ||||||||||||||
| Tshirt | Jeans /Trousers | Trs /Dress | Jackets | Denim | |||||||||||
| Kids | Adults | Kids | Adults | Kids | Adults | Kids | Adults | Single jersey cotton | |||||||
| Prices in US cents | Cotton /poly jersey | ||||||||||||||
| Thread | 0.03 | 0.05 | 0.08 | 0.1 | 0.08 | 0.1 | 0.1 | 0.15 | 240g Brush / loop back sweat | ||||||
| Zips – per zip | X | X | 0.25 | 0.5 | 0.25 | 0.5 | 0.5 | 0.75 | Poplin (shirting) | ||||||
| Buttons – per button | X | X | 0.05 – metal button | 0.07 metal button | 0.02 | 0.04 | 0.04 | 0.07 | woven polyester | ||||||
| metal studs – per stud | X | X | 0.05 | 0.06 | X | X | 0.05 | 0.06 | cotton twill | ||||||
| Drawcords/ ribbon | X | X | X | X | 0.1 | 0.15 | 0.15 | 0.2 | upcharge for organic cotton | ||||||
| POS polybag | 0.05 | 0.07 | 0.1 | 0.12 | 0.1 | 0.12 | 0.12 | 0.15 | Upcharge for recycled polyester | ||||||
| Washing | X | X | 0.2 | 0.3 | X | X | X | X | Upcharge for digital printing | ||||||
| Laser print | |||||||||||||||
| Placement print | 0.25 | 0.3 | X | X | X | X | X | X | |||||||
| Emb/ emellishment | 0.15 | 0.2 | X | X | 0.3 | 0.5 | X | X | |||||||
| care labels/ garment labels | 0.03 | 0.05 | 0.03 | 0.05 | 0.03 | 0.05 | 0.05 | 0.07 |
FMAN3002
FASHION BUSINESS ENTREPRENEURSHIP
Week 16
Seminar
Abbie Swinfield
CONTENT
LEARNING OUTCOME:
Understood the term niche and what it means in terms of product design
Recognise Niche Fashion businesses
How and where to begin to formulate ideas
Idea screening
Designing Primary research
:NICHE:
What do we mean by niche?
WHY?
In today’s competitive market place, it is important to separate yourself from the pack by creating a niche- a gap.
By offering something that no one else has, and focusing on a specific or select market, you are able to differentiate yourself from the competition, and generate a loyal customer base and following.
Rule number one: know your niche
WHAT?
It can be a small, specialized market for a particular product or service or a subset of a larger market, with its own specialities. eg. Yogawear for expectant mothers, a cookbook for vegans or waterproof coats for dogs
Customers in a niche market can be seen as a subset of a larger group of customers, but those who have very specific requirements and desires for the products they purchase.
If you are able to solve a customers problem, they are more likely to remain loyal to your brand.
:NICHE:
What fashion businesses are niche? Work in pairs and come up with 3 examples of niche businesses.
IDEAS
It could be a product based solution to a painful or embarrassing problem or addressing wider global issues or demand. This will give you an instant capture clientele, seeking wider access to the product and ease of purchase
In terms of fashion business it could be a bag designed for Diabetic women, or waterproofs made out of recycled tents for festival goers.
IDEAS
https://
youtu.be
/
Rj5CT1scV3w
Rent the Runway one of many competitors in the sharing economy.
Based on a subscription model
They opened their first store in 2015
Q – What are the positives and negatives of this business model? What is the key to their success?
DISABILITY SPORTSWEAR – think about the rise in interest in the Paralympics, Invictus Games etc, Tommy Adapt for wheelchair users
INCLUSIVE SPORTWEAR – such as the Nike Pro-Hijab
IDEAS
Where next?
Think about areas that may interest you. what matters to you as a member of society? What unique experiences can you draw upon to improve the fashion business world in these areas?
Rise of athleisure and loungewear
Sustainable products – leather alternatives
Medical / problem solving
Wearable technology
Info Graphic: Ellen MacArthur Foundation
RESEARCH
Library Catalogues
Databases
Journal Articles
Books
Market Research
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Week16introtobusinessplanning2.pptx
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