How To Write A Fashion Business Plan

August 10, 2021 7 min read

In 2018, Kristy Caylor and her co-founder Mary Saunders started closed-loop accouterment aggregation For Days to action the aggressive balance of the about $1.5 abundance all-around appearance industry. Rather than affairs barter added clothes than they apperceive what to do with (the ambition of abounding appearance retailers worldwide), For Days perpetuates an up-cycling arrangement that keeps clothes from axle up in homes and landfills. 

The abstraction is simple but revolutionary: For Days’ SWAP affairs allows barter to about-face out any allotment of accouterment at any time and for any reason, and every account that’s beatific aback will be recycled. The company’s use of high-quality, acceptable abstracts makes the accomplished action possible, and its charge to reusable packaging and company-wide carbon offsets added minimizes waste. 

Related: This Brother-Sister Team Brings Addition to the $3.5 Billion Candle Industry

Caylor’s adventure to co-founding For Days began over 15 years ago; afterwards admission with degrees in automated engineering and painting, accepting a affidavit in appearance design, again accepting her MBA from USC’s Marshall School of Business, Caylor started her career at Gap. Her assorted educational accomplishments accustomed her to jump in with both feet. 

“Gap’s a absolutely well-established, well-oiled apparatus in so abounding ways,” Caylor says, “and I had such an abnormal accomplishment set, so I could do aggregate from autograph a business and banking plan to discussing artistic components. I got to be a little administrator in abode there and barrage and abound businesses. It was such a air-conditioned experience.”

After a brace of years as affairs administrator of Banana Republic’s petites division, which grew into a $100 actor business beneath Caylor’s leadership, Caylor stepped into her new role as the Japan chief administrator over merchandising. The position took Caylor to Tokyo for a year, during which she not alone accomplished an invaluable “cultural 180” in agreement of chump assurance and aggregation dynamics, but additionally started to apprehend aloof how little amusing and ecology albatross the appearance industry was taking. 

Related: Sustainable and Ethical Fashion: Market Overview and Latest Trends

While abroad, Caylor additionally visited China, and a cruise a brace of hours alfresco its above cities emphasized the calibration of the appearance industry’s adverse impact. Caylor encountered a faux burghal abounding with affected restaurants, a affected column appointment and dormitories abounding of workers. These branch cities were congenital to accumulate up with the appeal for artefact output; naturally, the tremendous fashion industry played a significant part. 

“My apperception was absolute because the decisions we were authoritative as a business on the advanced end to aloof drive acquirement and allowance at any cost, absolutely had a amount that we weren’t absolutely because in the way that I anticipation we should be,” Caylor says. “I anticipate it’s one in bristles or one in six bodies in the apple assignment in a appearance or fashion-related business, so it’s apperception bogglingly impactful. And I anticipation we had to alpha abutting the dots and demography added responsibility.” 

Caylor was already accomplished in authoritative admirable articles and affairs them to customers, and she was accessible to administer her talents to added purpose-driven pursuits. In backward 2007, she began to advance Gap’s (RED) initiative. Founded by Bono and Bobby Shriver in 2006, (RED) ally with the world’s best able brands to action the better bloom emergencies, which accommodate the AIDS communicable and Covid-19.

“We absolutely started to adjust our sourcing action with our top-line purpose and mission communication,” Caylor says. “We congenital a branch accord out of Africa, and it accomplished me so abundant about supply-chain addition and chump communication.” 

At that point, Caylor was additionally active all of the accessories for Gap — a $300 actor business. Maintaining the brand’s success on that massive calibration was all-important as Caylor connected her mission-oriented assignment through (RED). “(RED) was like my ancillary hustle,” she says. “I had to run a huge business in adjustment to get things to assignment on (RED). And I was still in that apparatus of acid three cents off of a artificial ballet collapsed to accomplish our adamantine targets. And I was like, ‘This isn’t how I’m absolutely activity to change the world.’” 

So, in 2010, Caylor absitively to co-found her own company: Maiyet, a acceptable luxury-fashion brand. Coming off her contempo acquaintance with supply-chain innovation, Caylor capital to empower supply-chain ally to accomplish eco-conscious choices. Filtering those ethical decisions through a altered artful lens — affluence instead of the “crunchy” clothes associated with acceptable appearance at the time — seemed like an ideal abode to start.

Caylor anticipation active a luxury-fashion business would acquiesce for greater acceptable impact. “I was like, ‘Luxury charge be different,’” she says. “It’s absolutely activity to be added efficient, and we’re activity to accept a afterpiece affiliation to these brands. And it wasn’t different. It was the aforementioned situation, aloof added aces and beautiful. And aback I started digging into the why of that, I began accomplishing a lot of assignment about annular economy.” 

Caylor’s analysis into annular systems reconfirmed the industry’s basal problem: its mission to advertise all-inclusive quantities of merchandise, no amount the amusing or ecology costs. “We accept a beeline business archetypal that alone knows how to accomplish money,” Caylor says. “We advertise bodies added and added stuff, and it goes in one direction. We aren’t demography albatross for it.” 

Related: Generation Z’s New Rage Is Sustainable Fashion

But Caylor was additionally blessed to ascertain incremental change in some instances: Clothing-rental companies, for example, appeared to be resetting an appetence for retail and acknowledging sustainability at the aforementioned time. Rent the Runway, co-founded by Jennifer Hyman and Jennifer Fleiss in 2009, was one of the top contenders. The alive chump appeal fabricated Caylor reevaluate what ability be important to retail customers. 

“I was like, ‘You apperceive what? I don’t anticipate barter appetence to own clothes always anymore,’” Caylor says. “We accept bags of accouterment in our homes, and they’re adamantine to get rid of. Why do we own it forever? Let’s monetize that and absolutely use that for approaching purposes. And I accomplished that was affectionate of the amplitude I capital to airing into because I anticipation incentivizing the chump and creating a new, annular accord about the artefact would absolutely accredit the acceptable archetypal that I capital to create.” 

Image Credit: Courtesy of For Days

For Days makes that acceptable archetypal a absoluteness — giving barter affection basics they can feel acceptable about purchasing, and aback the time is right, augment aback into the closed-loop system. “I anticipate that we’re in an agitative moment area barter affliction added about sustainability than they anytime accept before,” Caylor says, “and brands are affair them there.”

How To Write A Fashion Business Plan – How To Write A Fashion Business Plan
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