Project Runway Fashion Startup
Last week (whilst eating lunch in front of the TV), I stumbled across a brilliant program on Arena called, Project Runway Fashion Startup. Whilst i’m sure you’re familiar with the Project Runway concept of being the last fashion designer standing before Heidi Klum and here entourage of famous American fashion designers, Fashion Startup digs a little deeper into what to do once you have started your fashion business and want to take it to the next level. For those lucky enough to get in font of the Fashion Startup panel of investors, which includes the likes of founder and CEO of Birchbox, Katia Beauchamp and fashion designer, Rebecca Minkoff the business owners will have to prove that there is already a strong demand for their products and an existing track record of success. The investors then drill the business owners, (not dissimilar the Australian “shark tank” concept) on their story, their audience, cost of goods, margins, retail price points and distribution channels to determine whether it is worth investing their hard earned dollars and years of experience into building these brands further and assisting them to scale.
It's a really interesting program and I urge you to take a look if you are looking to scale your business with the assistance of an investor/s. If you subscribe to Foxtel you can download all of the episodes in season one from catchup TV. Otherwise head on over to Youtube, most of the episodes are available to watch. Here’s episode one to get you started!