Is your fashion business stuck in a rut?
Are you looking to grow margins, revenue, distribution or innovation but are stuck on details?
Here, we reveal five strategies employed by our star lineup of speakers at Ragtrader Live.
The annual fashion business conference will take place on August 3.
Sportsgirl CEO Colleen Callander: cut out the middle man
After being sworn in as Sportsgirl CEO in 2013, Colleen Callander positioned it as the first brand to pursue a direct sourcing model under the Sussan Group.
“The big driver is getting speed to market for our customer. When you’ve got an agent for a company like Sportsgirl, everything takes twice as long. So just by making those changes, we’ve been able to cut out two to three weeks of our sourcing time and that’s at a minimum. It’s been a very big change within our business and in the long term it’s going to be fantastic for our customer.”
Topshop Australian director David Slade: partner with a competitor
When Topshop Topman Australia inked an exclusive deal with Myer to open 20 in-store concessions, the department store committed to making a 25% investment in the franchise. Topshop Australia franchisee Hilton Seskin said that the partnership is all about two powerful brands joining forces to create a retail experience that is bigger and better.
“The Myer partnership brings scale to the business within the Australian market. The international design team from Topshop Topman UK ensures seasonally relevant, constantly updated product that reflects the local market’s demand for global trends direct from the runway.”
Rebel Sport MD Erica Berchtold: create new services
Last year the sportswear retailer launched its 90th store with a new 'acclerate' concept in Westfield Bondi Junction featuring virtual technology and in-store services such as bra-fittings and podiatry. This was just the start.
“This year we will be rebranding Workout World and relaunching it into Rebel, as well as standalone stores, as more of a holistic fitness and well-being offering and not just fitness equipment.”
Myer Deputy CEO Daniel Bracken: invest in technology
2015 saw the launch of the $600m New Myer strategy to reposition the iconic department store as a competitive omnichannel player in the Australian market. Rolling out click-and-collect, targeted customer engagement and digital strategy, Bracken maps the company's turnaround.
“Broader than the product we sell, it's the experiences we want to deliver.”
Mon Purse founder and CEO Lana Hopkins: know your customer
Lana Hopkins speaks to a consumer base where customisation is king - and a recent $3.1 million in a series A capital raise speaks volumes about its success.
“Mon Purse manufactures in Europe, which is of course more expensive but quality to us is everything, consumers are intelligent and appreciate this. Our leather is only sourced from Europe - Turkey and Italy. We can not compromise on quality, especially when customising something there is a strong personal attachment. Therefore quality is key.”
