Alexis Taylor Brown Stanton College Preparatory School Duval County Grade: 11 1,193 words

Transcription

1 Alexis Taylor Brown Stanton College Preparatory School Duval County Grade: 11 1,193 words

2 I love fashion! Fashion has always been an immediate and simplistic way for me to express myself without having to utter a single word. In fact, my dream is to create a women s fashion line. The women s fashion industry intrigues me because it is an exciting environment for creative minds and consumers, as well as an industry that continuously caters to a demographic that I can relate to: females. Thus, if I had the chance to invest in an industry that is so full of opportunity and promise, I am confident my goods would garner remarkable global recognition within 10 years of launch. The first step in establishing my fashion line would be to develop a highly budget-conscious financial plan based on three major parts: material cost, labor, and utilities. I would start by addressing material costs. Materials required would include, but not be limited to, fabrics, notions, thread, and inks or dyes. To ensure a global perspective, I would import materials from around the world, such as an ethnic fabric from Latin America, or handcrafted buttons from Asia. A commercial sewing machine would be necessary to create basic pieces such as dresses, skirts, blouses, and pants. To begin determining material costs, I would set a pattern for each piece. Next, I would mix and match fabrics. Finally, I would finish the design with an appropriate closure, such as a button. Each component of the piece, i.e. fabric choice, would be assigned a value. Once all values are settled, the total cost for an article would be given. This initial planning would allow me to try out different designs, and find the ideal cost for a specific piece. I expect to pattern and sew all my original pieces; then, labor cost would be minimal. With material costs and labor taken care of, I would address my utilities expenses. These expenses would include legal documents and marketing tools. I would consider setting up my business as a Limited Liability Company (LLC), with a Florida business license. This would be most expeditious since I am a small business owner. A trademark, business insurance, website, copyright, taxes, and emergency credit card would also be essential, and could be costly. Therefore, I would research companies that specialize in these areas and hire respective agencies to assist me based on reasonable estimates I receive from each. The cost of leasing a storefront, renting a mall kiosk, or vendor space at a local festival would also factor into my cost

3 model. For added global exposure, I would establish partnerships with global clothing companies, and build these costs into my budgeting. With a coherent financial plan established, I would focus on demographic-based market research. Paying close attention to my target audience would allow me to tailor my products to fit my audience s shopping patterns. I would first take surveys from everyday women, perhaps at a shopping mall, or on my website. I would ask them questions like What draws you to a piece at a store?, or What makes a fashion line special for to you? The surveys would be concise, but they would be specific enough to provide me with data about what my target audience is looking for, which is imperative. I would also approach the global market by travelling to different countries throughout Europe, Asia, and Latin America. These frequent trips would consist of more informal surveys to local women, visits to and purchases from local markets, and acclimation to local cultures. These explorative visits would provide me a fresh perspective of what women beyond the United States desire and value. Besides surveys, I would also study printed, mobile, and internet media such as news articles, blogs, and magazines; it would be crucial to know what things catch a buyer s eye when they shop. For instance, social media sites, such as Facebook.com 1, attract large populations of my target audience, and the site collects data about which audiences view various retail pages the most. This information is invaluable, and I could use it to guide my marketing campaigns and design, possibly forming partnerships with these like-minded retailers and sharing marketing costs. In addition to design research, I would pay close attention to financial research. Pricing would be a key element for me, because I would want to make a reasonable profit from my investment. With this in mind, the majority of my financial research would come from national financial reports, such as the monthly Consumer Price Index Report 2 released by the Bureau of Labor Statistics. These indexes report the average amount of money consumers spend on various products. By honing in on women s apparel, I could get a sense of how to price my products competitively in a global market.

4 Aside from the finances and research, my highest priority for my company would be to make my products unique. I would want my consumers to have fresh choices, and the opportunity to experience breathtaking innovation when they wear my clothes. I am a trendsetter, and my product philosophy would be staple pieces reimagined. Staple pieces are pieces that are versatile and timeless. For instance, dresses and skirts are must-have pieces in a woman s closet, but often times they can be uninspired in the pursuit of professionalism, or a manufacturer s focus on mass production. I would like to change that by incorporating original designs with global inspiration. My tailored dresses would include bold graphic fabrics with interesting prints like majestic birds, and cosmic skies. While the prints would be eyecatching, the structure of the pieces would evoke classic styling, and the pieces would still be relevant years post-production. This signature feature would distinguish my company in the market. Regarding skirts, I would transform the popular high-waist flare skirt into a high-waist overall. This piece would be unique because it could have versatility between all seasons, and add a sort of vintage flare to an outfit. Blouses and pants are also staple pieces for the everyday woman. For blouses, I would use the same fabric, but I would experiment with the style of top, making cinched waist tops, menswear tops, and bohemian peasant tops. I think choosing unique fabrics would definitely allow for large appeal among my consumers, while experimenting with different styles would accommodate for different preferences and body types. I would be certain to include average and special sizing. My last staple, pants would get a huge reimagining. Skinny jeans have become a major trend lately, but I think experimenting with classic flare leg jeans and pants would be an interesting choice for my female consumer. My jeans and pants would have breathtaking screen-prints, and handcrafted, imported dip-dyed washes. Each pair would truly be one of a kind, and I think my consumer would be pleased to see fresh designs, and reimagined classics. Establishing a globally successful business within ten years is definitely an incredible feat worth pursuing. However, with a structured plan, the goal is achievable. Simple steps such as relegating finances, learning about how to cater to a target audience, and creating a signature product should allow me to reach success within a reasonable amount of time and prepare me to conquer the global market.

5 Bibliography: 1. Facebook, Inc. Facebook, Inc, Web. 18 Nov Consumer Price Index. U.S Bureau of Labor Statistics. n.d. 17 Nov