Podcast Ep. 37: 4 Ways to Stand Out in Luxury Fashion When You Don’t Have Brand Recognition
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In times of economic downturn, do you know which fashion sector tends to do better than the rest? Luxury fashion. The sole reason being that the primary customer base is high-income consumers who generally aren’t affected by a recession. So if you’re looking to start a fashion brand and want to jump into the luxury market, this episode is for you.
TRANSCRIPT
In times of economic downturn, do you know which fashion sector tends to do better than the rest? Luxury fashion. The sole reason being that the primary customer base is high-income consumers who generally aren’t affected by a recession. So if you’re looking to start a fashion brand and want to jump into the luxury market, this episode is for you.
Let me be clear: I generally do not recommend starting out in the luxury fashion sector as a self-funded startup. And I still think that ready-to-wear and more accessible sustainable fashion can do well, even in times of economic uncertainty. But if you’re one of those people, who hasn’t launched yet and will likely start your brand during a recession, then I want to make sure you’re approaching it in a strategic way.
Because here’s the truth: as beautiful as your designs may be, you’re not Gucci or Dolce or Louis Vuitton. You don’t have name or brand recognition yet. Does that mean you can’t compete? No. But it does mean that you need these four things:
- The first one is High-End Photography and I say it first for a reason. It’s that important. In general, good photography is incredibly important for an ecommerce fashion brand – when you’re selling online this is the only way you can truly communicate the value of your products. But when it comes to the luxury market, your photography needs to stand above the rest. That means working with a professional photographer, professional models, a professional studio and set, stylists, makeup artists, the whole shebang. Your product and lifestyle photos need to be GLOSS-Y with a capital G.
- The second way is through Elevated branding – unless you’re a graphic and web designer by trade, this also probably means hiring a professional. You’ll want your logo, website, graphics, fonts and all imagery to be crisp, clean and a cut above. You’ll want your Instagram grid to look like a catalog, your website to look like the online version of a lux boutique and all of your content to scream “elevated.” This means not as many behind-the-scenes images and videos and a much more finished and polished look overall.
- And of course, the garments have to speak for themselves so that when they arrive in the mail, your customer is quite literally draped in luxury. So #3 is your fabrics and finishes. Hopefully it goes without saying, but no polyester or cheap synthetics and all of your buttons, zippers and finishes should be made of real metal (not plastic). The fabrics will likely be dry clean only and may even arrive in a custom reusable garment bag. This is when you want to strongly consider the customer experience, packaging and how it will feel for your customer to receive your garments in the mail and experience your brand.
- And the fourth thing is optional but strongly encouraged and that’s Influencer or celebrity endorsements. In order to launch a luxury brand without brand recognition, you’re going to want credibility behind you. That likely means partnering with influencers that have a following in the hundred-thousand-plus range and have a track record of taking gorgeous photos and videos, as well as the first-hand experience of endorsing brands like yours. While again, this isn’t a requirement (like the first three things are), it will generally make a huge difference in ensuring your launch is successful.
So, those are 4 Ways to Stand Out in Luxury Fashion When You Don’t Have Brand Recognition – high-end photography, elevated branding, luxury fabric and finishes, and influencer or celebrity endorsements.
While the luxury market isn’t generally something I focus on in Factory45, I do have entrepreneurs who have launched luxury brands through the program so I thought it was time to address the most successful way to do that.
If this episode was helpful in teaching you some of the things to think about when launching a luxury fashion brand, and you want to keep going… You want support, you want guidance, you want accountability, you want someone who can walk you through all the steps and implement it… I want you to take a look at Factory45.
Because inside the Factory45 program, you’ll have the chance to work with me and with an Alumni Mentor, who can help you take the information that I’m giving you in today’s episode, translate it into an action plan, and make it work for your business.
If this sounds exciting to you and you’re ready to raise money for your fashion brand without taking on debt, find an ethical manufacturer to produce your line, and have customers ready to buy as soon as you launch, I want you to go to factory45.co/apply . You can book a free discovery call with us – there’s no commitment required – and you can simply talk about whether Factory45 is right for you. The link is in the show notes below – we hope to hear from you.
