Fashion Entrepreneurship is the most popular and majorly discussedFashion Entrepreneurship topics amongst youth. Be it the glamour, recognition, and acknowledgment accompanied by the success of a new business idea or else the number of profit returns involved in it.

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FASHION
ENTREPRENEURESHIP
Aman Mathur Fashion House

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Background
• Entrepreneurship is the most popular and majorly discussed topics amongst
youth.
• Be it the glamour, recognition and acknowledgment accompanied with the
success of a new business idea or else the amount of profit returns involved in
it.
• New aged youth is majorly driven away by the fact of starting up with
something novel and out of the box.
• But the question is, how many ideas and visions really make it to fortune 300
or 500 ?? Probably just a handful of visionaries actually make it to the final
execution and even lesser sustain the heat of the ever competitive market.
• Then very few, who ultimately survive the competition of innovativeness
coupled with sturdy planning, make it to the top.

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Background.. Cntd..
• Fashion as an industry has most creative competition and products with very
short shelf life, this creates a lot of entry barriers for a new juvenile entrant.
• But people & specially youth have always been in awe of the glamour quotient of
this industry and always try to become a part of it. Be it aspiring models,
designers, photographers or choreographers, everyone wants to create their
mark or a peculiar position in the fashion world.
• But due to digitization and increased reach of print, digital & social media the
Indian youth has become more sensitive towards fashion as an industry. People
are getting educated enough to understand the brands and justification of the
prices.
• Since every coin has its flip side, so the knowledge about the inner cores of
fashion as a business has made a lot of designers and stylists to try their luck into
the domain with not much differentiation and innovativeness in the idea.

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Why is Indian fashion industry is so vital?
1. Scope for fresh entrants
2. Advent of e-commerce
3. Globalization of fashion

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1. Scope for fresh entrants
• With the changing time technology has played a major role in maintaining the
absorption of new entrants into the fashion industry. A lot of designers or stylists are
communicating with world by using Instagram hashtags, youtube channels &
facebook pages.
• And this has created a major change when it comes to the acknowledgment and
outreach of the budding talent and creativity in people.
• Today people have full liberty to express their though processes and ideas about any
topic. Youth has become vocal about the career choices they want to make in their life.
• Few years back the fashion education industry was confined with the female students
and the involvement of male students was limited to the tier 1 cities that had more
liberated and open headed parents. But due to formalization of fashion as a sector has
changed the perspective of mob at large.
• Fashion institutes and opening up of formal education and introduction of
engineering courses has given this field the kind of attention and acknowledgement it
has always been seeking for and has always deserved it.

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2. Advent of e-commerce
• Fashion E market has marked a before and after in the retail industry and has
engulfed the whole globe within no time. The drive that started with
alibaba.com has made all the nations understand the immense power of digital
world.
• Fashion retail has changed immensely from being a brick and mortar model to
be 100% electronically present. Digital revolution, enhanced globalization, and
altered in consumer expenditure habits have made fashion industry to change
the customer experience.
• Fashion students are getting a fully prepared platform to start off their
business and specially those who are aspiring to be fashion entrepreneurs.
• Ecommerce has reduced the hustle of fashion students by lowering down the
capital expenditure cost which in turn increases the revenue in a very short
time period.

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4. Globalization of fashion
• With the changing time the 100% in house manufacturing of garments has
also changed its form and has become more global in every aspect.
• This includes a very closely monitored web of contractors and subcontractors.
Started by the major sports giant brand like Nike & Reebok by outsourcing
their apparels & shoes it has soon reached to most of the sports & utility wear
brands.
• Globalization with respect to production is one of the aspects that are covered
as benefits of fashion globalization.
• Steadily whole Indian market is getting engulfed by the global fashion, the
trending designs & patterns are finding their way to reach to the bigger
masses.
• If something is aspiring to break the barricading of time and trend, it needs to
be exceptionally different to the market. The same applied for the fashion
entrepreneurs as well, unless something is out of the box and very novel to the
society , it can never be long lasting and perennial.

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How to become a fashion entrepreneur ?
1.Never follow
2.Understand need of the fashion market
3.Giving correct shape to the idea
4.Accepting the negative comments and
converting them into feed-forwards
5.Build a complete ecosystem

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1. Never follow
• Following someone always kills the creativity and novelty of an individual and
acts as a never progressing trap for the future.
• Getting inspired and following someone’s individuality has a very thin line of
differentiation amid it.
• For a fashion businessperson to be termed as a fashion entrepreneur it is a
prerequisite to have a novelty in the aspect of work he/she is doing.

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2. Understand need of the fashion market
• Whole global market always remain need driven and its absorbing power
increases when the need of any product or service increases. Before starting off
with a anything in the fashion domain, it’s very important to understand the
persistent need of the customers.
• For eg. If we go back in time, when cotton fabric was one of the majorly used
fabrics and it was manufactured in a huge quantity.
• There lied a need of having some lighter fabric which doesn’t gets crushed and
lasts much more longer than 100% cotton fabric. This gave birth to the
polyester fabric which started blending cotton fabric with more synthetic
polymers.
• This process not only gave a variety in the market, but also created a totally
different domain to the people who were involved in making creative outfits.
As they got a fabric which can be much easily manipulated than the cotton
fabric.

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3. Giving correct shape to the idea
• Idea generation is the very first step towards planning any new thing to perform, post which
there are a series of serious steps required to convert that idea into a lucrative model.
• Determining the drawbacks in any generated idea also make an essential component of the
complete model. So , post a person gets an brilliant idea of becoming a fashion entrepreneur
with some out of the box though process, he/she need to shape up the idea in a way that it gets
executed in the similar manner as it’s getting reflected on the planning paper.
• If we take the example of Tata Nano, it was the India’s one of the biggest revolution in terms
of getting a four wheeler commutation to every section of the society. This idea or rather
intention in itself was very different and thoughtful for any business house, which is why its
association with TATA made a complete sense. But the problem that happened with the
branding of the product was the association of the cost with the product. Though the price of
Nano was much cheaper than any other 4 wheeler commuter, yet the consumer of lower
middle class society doesn’t wants to get associated with something ‘cheap’ which can be
tagged as ‘economic’.
• Thus the absorption of this mass targeted product didn’t turn out to be that fructifying as it
should have been with a proper branding. This clearly indicates that one glitch in pitching the
idea, and the future gets adversely affected.
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4. Accepting the negative comments and
converting them into feed-forwards
• People who want to become big in their life and perform an exceptional business
need to accept the negative comments with same zeal as they accept the positive
feedbacks. This generates a self improvisation model and leads to a better output.
• When an idea comes into the market the percentage of positive comments are
always lesser than that of negative ones, thus there always stays a chance of
improving the idea and putting it into a better shape.
• This is why the original developer of the idea always gets a profitable return once
he/she is much open to criticism and amendments. But still there should be a
stringent sense of understanding where it judges between the feedback worth
implementing and feedbacks which would damage the initial ideation.
• Creativity coupled with calculative risk taking ability leads a idea generator to
become a entrepreneur. When it comes to fashion, the bloopers of experimentation
is an everyday job and people find an open platform to criticize the things that they
don’t like or rather accept.

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5. Build a complete ecosystem
• For a business to become long lasting and stable it needs to strongly
intermingle with the dependencies that are associated with the business.
• When a person starts to amalgamate the supporting structures with the main
model, the structure becomes stable and much sturdier or future jerks of time
and changing trends.
• In order to become a successful fashion entrepreneur, it is very important to
understand the basic necessities of the business model like karigars, essential
vendors, supporting designing agencies, marketing people etc.
• Fashion entrepreneurs are common regular people with a sturdy vision,
properly planned ideas, better execution which they put up in a more leak
proof package.
• This process is making youth aware of different and variable platforms in
which they can make their future without having to spend hours altogether
into something they don’t like.

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THANK YOU
AMANMATHUR.IN