Everyone wants to be an entrepreneur, but not all the people are quite ready for the level of sacrifice that is needed for one to be successful in investing when thinking about investments such as fashion, there are many people who assume that it is as simple as getting the products to a shop and informing people about their presence. Well, it takes more than that. In fact, according to Kate Hudson and her Fabletics initiative, there is nothing that is trickier than investing in fashion
When she started her brand, all she had was an interesting idea and a lot of hope that it could work out. The good thing about the idea that she had in mind was that it had an innovative twist to it. She wanted to provide the regular clothes that people use when they are going out to work out, but she also wanted people to look fabulous in these clothes. She knew that active wear that was stylish was already a stretch on the imagination of many. To be a little different and better than every other company that was offering the same services out there, she decided that they would make the clothes affordable. This is the combination that has led to the fashion brand being followed like a cult.
Another thing that she noticed about the entire industry was that most of the people that buy clothes from the online stores do not treat retail as part of the overall experience. She realized that there are many customers that visit a site, look at the products that are on offer and their features and then proceed to shop elsewhere where the same products are cheaper. For the best customer experience, she realized that they would have to make retail part of the overall experience, but not the entire experience.
The business strategies that the company employed have been compared to many other successful ones in entrepreneurship. As a result of the planning and the success of the entire process, the company has been able to spread from their first base of operations to Hawaii, Florida, and Illinois and is planning to open stores in many other places. The company has been able to get a cult like following, especially among the young generation.
Then, the company decided to create the show rooming experience. They created physical stores that would allow them to help their customers get that customer experience that they value a lot. When the customer walks into their store, they have already ordered for the product online and the only thing they need to do is getting it. These are the tricks that Kate has been using for the success of the shop. So far, the company has been making an average of quarter of a million dollars each year and is expected to grow and become even more profitable. The only challenge that the company faced during the entire process is underestimating their capability. But they have expanded their industry to meet the demand for their clothes.