As a small business owner one area you should be constantly practising is learning. Learning from others, learning from case studies, learning from books. In this month’s book club I want to bring attention to a book which I think is great for anyone with a luxury fashion brand. A must-read book for December is:
In My Shoes: A Memoir by Tamara Mellon
Why is it must-read?
This book gives you the insight into how difficult it is to build up a luxury fashion accessory brand. Anyone who already has a small fashion brand, or who is thinking about setting up one, will learn so much from it. It all starts with brand’s values, strong messaging, marketing, advertising and sales. Tamara describes really well her early days and covers in quite a detail what it took to deal, and work with, new shareholders and the internal problems associated with that. The stories in the second half of the book are not only unbelievable but also might serve as practical lessons to learn from. Side note: I must admit I felt like I had to step away from the book on few occasions to process all the events and drama! But that’s what business is about, each story is different but human behaviour such a greed and betrayal don’t really change. On a more positive note Tamara also shares how her ideas for collaborations and the importance of creating partnerships helped building the brand’s awareness and credibility. Those examples can be a great source of inspiration for your business.
My biggest takeaway:
There are so many! Lesson one: if you have a fashion brand, gifting should be part of your marketing strategy and budget. Lesson two: trade shows and networking are vital for growth. Lesson three: look at (international) markets where you can get established quickest. Lesson four: wholesale will help you with exposure, brand awareness and sales. Lesson five: backstabbers and egos are everywhere, and are damaging to core business values and future of the brand.
Want to be part of a group of like-minded creatives who are going through what you’re going through? We have an amazing community of emerging designers, interior designers, stylists, fashion accessory brands, artists and photographers, where we help each other to grow. This is where I encourage sharing knowledge and brand collaborations. No fakes, self-interest liars and backstabbers are allowed. Please join us here. And, feel free to share if you found this useful!