Posts Tagged ‘Clothing’

The Fashion Economy

Tuesday, March 29th, 2011

freddy-dico.png Freddy Dico is the co-founder of Sir New York, a modern menswear label that launched in Spring 2010. He’s from Macau, but grew up in San Francisco. And before getting into the world of design, he was actually a star student in the biochemistry program at U.C. Davis. Since switching gears and graduating from FIT in New York, Freddy has worked with companies like Polo Ralph Lauren, J. Crew, and Brooklyn Industries, and designed an entire line for mass-market men’s label Scappino in Mexico. You can check out his latest work here.


TILE: Being a designer involves much more than a creative vision and talent with scissors and thread. What are some of the costs of starting your own fashion label?
Freddy: Since we are a really small start-up with practically no capital, time is the #1 cost.

To start, you need a product, which means sourcing fabrics, making patterns, sewing/fitting, creating labels, etc. Once the product is perfected, you need to document and promote it through a website, lookbooks, business cards, fashion presentations, models, invites, etc.  The lists really goes on and on and on…  Luckily, I have a partner (Auston Bjorkman) who is equally well-rounded in many areas, so we try to personally execute most tasks to lower our costs.

Of course there are only 24 hours in a day, which means you can’t do it all. We’re fortunate enough to have many people who believe in us and who are willing to volunteer their time and effort.

Oh, and let’s not forget about getting a business license and all that legal stuff…

TILE: How does a piece get from the designer’s head to the runway?
Freddy: At the start of the season, Auston and I will brainstorm and finalize the themes/concepts we want to use. Then we create sketches, source fabrics, make patterns, and sew the samples. After that we set up a photoshoot, cast models, send invites, create a website, scout locations for the show, and stress ourselves out making sure the event goes off without a hitch.

TILE: And how does that piece get from the runway to the retail store?
Freddy: There’s a lot of following up on our part. Before your runway show, you need to figure out pricing and where will you produce the garments. Once you have all the business details – the linesheets – figured out, you’re ready to potentially attract buyers to place your product in their stores. Once orders are confirmed, you actually need to produce and ship the pieces to them.

TILE: How can you be a “smart shopper” when it comes to designer clothing?
Freddy: Well, the answer to that question depends on what kind of person I’m talking to. But in general, I always believe that the value of a garment is based on the number of times worn.  So make sure you love it!

TILE: What advice would you give to your teenage self?
Freddy: Enjoy the ride!

That Custom-Made Suit Is Going To Cost You

Wednesday, January 12th, 2011


credit: John_Brennan

If you’re not sure what inflation looks like in real life, try asking your tailor. Having suits and dresses made to order in Hong Kong or Singapore used to be the secret to looking good on a budget. But all that is starting to change. Here’s why:

1. Inflation! The apparel industry has been safe from inflation for a long time, but fabric today is more expensive than it was a few years ago. In 2010 alone, the price of cotton in Hong Kong went up by 91%. More expensive materials = a more expensive product.

(And because inflation generally raises prices across the board, tailors are demanding higher wages so they can keep up with the cost of everyday living.)

2. Consumer demand! More people have the money to order custom clothing these days, and tailors and materials are in short supply. That means more work for tailors, and a higher price tag for customers. In other words, the supply of materials and producers has stayed the same, but the demand for finished products has increased. When demand exceeds supply, you’ve got a price increase on your hands.

New Prices:

  • A custom suit made in Singapore with expensive luxury fabric runs about $5,400. A similar suit by an Italian producer might cost $10,000.
  • In 2009, a custom shirt from Singapore cost $177; today it would cost about $330.

“We’re so busy that we’re having to turn some people away.” – Mark Cho, Co-Founder of The Armoury in Hong Kong

Buying Shoes Apparently The Thing To Do In A Recession

Tuesday, November 10th, 2009

Shoes have been selling increasingly well despite the recession, due to what analysts are calling “frugal fatigue.”

  • While other retail sales have faltered, shoes are increasingly weathering the economic storm.
  • According to analysts, shoes cost less than other items of clothing (even in a good economy), so more people can afford to spend on shoes regardless of their size or economic situation.
  • Shoes are considered more of a necessity than handbags, beautiful dresses or nice suits. And shoes wear down and need to be replaced more quickly than most articles of clothing.

Facts & Figures

  • Shoe sales were at $1.5 billion in October 2009, highest since October 2006.
  • Sales increased 7.9% compared to one year ago.
  • J.C Penney, Dillard’s, and other major retailers cite shoes as one of their best-selling product categories.

Best Quote

“Shoes democratize fashion. You probably can’t buy a Zac Posen dress if you wear a size 14, but you can buy a pair of Jimmy Choo shoes.” – Kathryn Finney, Writer for the Budget Fashionista blog

A Second British Invasion… But With Retail Stores?

Wednesday, November 4th, 2009

With retail sales dropping, U.K. fashion chain Top Shop takes a transatlantic risk.

  • Philip Green is one of Britain’s wealthiest citizens, with a personal fortune estimated in excess of 3.8 billion pounds. He also owns the women’s retail clothing store Top Shop, among other business ventures.
  • After successful runs in the U.K. and across Europe, Green has opened a flagship American Top Shop in SoHo in New York City.
  • Green hopes that associating the Top Shop brand with star power (such as supermodel Kate Moss) will help bring the store acceptance in the U.S.

Facts & Figures

  • Top Shop’s largest global competitor is H&M, which opened its first store in New York in 2000 and operates 175 stores in the U.S.
  • Arcada Group Ltd., of which Green is CEO, made a profit of £164.7 million (in the currency of Great Britain, pounds sterling) and total sales of £1.9 billion in the year ending Aug. 29, 2009. Revenue from Top Shop and Top Man contributed to at least a third of both figures.
  • The Top Shop emporium in Soho cost $25 million to prepare.

Best Quote

“Green’s New York store is a statement of his intent that Topshop will become a global fashion brand,” –  Greg Hodge, Analyst at Planet Retail Ltd. (a London-based industry research firm)

Designers Refuse To Bargain

Monday, April 20th, 2009

How far are designers willing to go to make sure you pay full price?

  • Clothing designers and department stores are facing a growing conflict as the economy continues to suffer: Who controls pricing?
  • Luxury brands are unhappy that department stores have the power to slash prices on their products, undercutting their luxury images and raising questions about how much a $1200 Piazza Sempione dress is really worth.
  • Some designers are following the strategy adopted by major airlines when low-cost websites began buying tickets in bulk and slashing their prices – limiting inventory.

Facts & Figures

  • More than 40 designers requested that their products be left out of a recent Saks “Friends & Family” sale.
  • In a step away from department store control of her product, Eileen Fisher is building 6 new stand-alone stores this year.
  • LVMH, which maintains tight control of its brand and pricing by renting boutique space inside department stores, posted a 10% profit in the fourth quarter of 2008.

Best Quote

“Even wealthy people don’t want to be ripped off.”  – Eileen Fisher, Designer

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