The very word “FASHION” signifies change. This pace of change shows no signs of stopping and fashion designers are under endless pressure to maintain their creative energy.
Fashion in India and in the global scenario today is big business. The industry, today worth multibillion – dollars, began with some small design entrepreneurs at the turn of the century, taking it forward with multi-faceted businesses of the present day.
The fashion industry today is so dynamic, volatile and ever so changing that it can often get extremely challenging to orchestrate with the consumer’s fickle tastes.
It is a business of curious and exhilarating contrasts. On one side, there is the air of the couture labels presenting their collection of exorbitantly priced, made-to-order high fashion garments and on the other extreme, there are giant factories that mass-produce and distribute endless quantities of affordable apparel across the globe.
Almost every country in the world depends on the textile and apparel sectors as it is an important contributor to their economy.
Fashion merchandise are made under some incomprehensible and varied set of circumstances; from the high fashion houses of Europe to tedious, overcrowded, sweat shops of the like of Chandani Chawks, Luxmi Nagars of Delhi across some of the poor developing countries. Amazingly all are starkly different in their business operations, but can be connected electronically to create and produce fashion products for the consumers of today.
So the fashion industry might seem very glamorous on the outside, every designer or any other fashion business is in it – To Make Profit.
Despite the captivating interplay of creativity, business acumen and the media hype, everything boils down to just one bottom line – The Accountant’s Financial Statements Showing Profits.
To be in business of fashion, a fashion entrepreneur- no matter how smaller big- must make profits.