Money, money, money... must be funny in a rich man’s world, but also extremely important to secure when making your mark in the fashion industry. As more start-ups are vying for investment than ever before, understanding what will make investors choose you from the crowd has never been more important. So what should you bear in mind to make sure you’re in the money?
There is no doubt that there is a clear appetite among retail sectors to partner up with unique-minded businesses, but competition for money and mentorship has not let up. As the market has continued to evolve, retail has become an extremely dynamic field, with those turning to digital-first businesses to stay ahead of the curve. Those that bear in mind being ‘future-proof’ in their business models can easily both grab the attention of investors and navigate the structurally growing market.
Data is something that is now more accessible to us than ever, so make sure to fully utlise it when pitching for the pounds. The UK in particular has a strong surge of up-and-coming entrepreneurs after investment; using data combined with your creativity is always a winning approach. This also translates to the team around you - having an outstanding, flexible team with the relevant experience will only add to your value.
Investors are also currently gravitating towards those brands that are ‘direct-to-consumer’ – as the rush of spending continues to be mainly online, investors want to work with those that can adapt to the shifts in how people shop and what they expect. This should create business traction thanks to their innovation, but still maintaining the ability to build communities of customers that feel a personal connection to them. Attracting investment means giving consumers what they want but even faster and better than the names we have become so familiar with on a daily basis. Brands such as Khloe Kardashian’s size-inclusive denim brand Good American and beauty brand Glossier are continuing to tick all of these boxes, expanding on both their global reach and profit.
Before you next enter the Dragon’s Den, take these points into consideration to secure an investment in your brand’s future!