EVERY EDITION RAGTRADER CATCHES UP WITH A PREVIOUSLY FEATURED LABEL TO CHART ITS DEVELOPMENT OVER THE INTERVENING PERIOD. HERE BELINDA SMART TALKS TO MELBOURNE FASHION DESIGNER JENNY BANNISTER.
LABEL:Jenny Bannister
OWNER/FOUNDER:Jenny Bannister
How has your label evolved in the past five years?
Over the years my company has become smaller, producing higher price pointed, high quality evening, party and bridal dresses with an exclusive profile, for around one boutique per city in Australia.
What were the key issues or challenges for your company five years ago and how have they changed?
Finding suitable staff with the correct skills and experience was always a key issue and continues to be one. I mainly like to employ women who are mature, experienced and highly reliable.
What was the company's range like five years ago and how has it changed?
The range is smaller and more specialised now. We design it on feedback gathered from customers to ensure we keep producing good sellers. We have a four to six week turnaround as all product is made locally in Melbourne, so we deliver every week to Brisbane, Sydney, Melbourne and a little less frequently to other capitals.
How many stores/wholesale accounts did you operate five years ago? Now?
We had about 20 wholesale accounts five years ago, but now we only have about eight, as well as the Jenny Bannister store at 121 Chapel Street, Windsor, Melbourne. We don't sell to department stores because it would upset the boutiques we stock and we generally don't discount or go on sale as we are not a seasonal label. The label is much more high-end now than it was when we started out.
What was the trading climate like for your business five years ago and how has it changed?
Back then our wholesale accounts were absolutely purring, today sales are definitely down, reducing the profits. Soon the only reason to get out of bed will be to keep the customer happy.
What was your approach to marketing and promotions five years ago? What is it now?
It's amazing to say this now, but five years ago I didn't have to promote my label at all, as word of mouth was enough. Today I hire a public relations agency to push the product as so much has changed. For one thing the market is flooded with cheap products made offshore, making it more competitive.
How have your staffing arrangements changed?
Back then I employed five full time and five casual staff, whereas now I'm down to two full time and three casuals.
What was your greatest moment in the past five years?
In 2005, when Australia Post presented me with my Australian Fashion Legends Postage stamp.
The worst moment?
Unfortunately the best and worst were intertwined. The worst was when Vogue featured a full page story on the Fashion Legends Stamps and didn't mention me or Prue Acton - they only mentioned four of the Legends. There were six of us in all, including myself, Prue Acton, Collette Dinnigan, Akira Isogawa, Joe Saba and Carla Zampatti.
THEN
Name: Jenny Bannister
Range: Evening frocks and eventwear
Climate: Wholesale purring
Marketing: Word of mouth
Best moment: Getting own postage stamp
NOW
Name: Jenny Bannister
Range: Same but more exclusive
Climate: Sales harder to win
Marketing: PR lends a hand
Best moment: Being left out of Vogue's Australian Legends write-up