Wevvo Nigeria is keen about empowering women, aiding them to create diverse ways of making money and to also have established goals. In the month of April, Wevvo had another seminar that was centered around the business of fashion.
Here’s a summary of everything that was shared.
The 6 P’s of a successful fashion business.
- What’s the product and what problem will it solve for your customer?
- Understand who you are making your designs for.
- You can start with 1-2 product type e.g skirts.
- Craft a story around the product.
- Decide what category your product should be in e.g mass,premium or luxury.
- How will your product solve your customer’s problem?
- What will your product cost and how will you determine what to charge?
- The cost of your product is determined by your potential customer.
- Your pricing should comprise of your overall cost + contingencies.
- 2 ways to compute your pricing.
- Are you going to be operating online, offline or both?
- You (CEO).
- Online Events.
- Live Streams.
- Social Media Groups.
- Pop-up Shops.
- Production process, tech packs, patterns and fittings.
- What kind of packaging will you use?
- How long will it take to get to your customer?
- How will they get it? will it be door step delivery or pick-up station?