You’ve probably read the success stories of brands like Sabyasachi and Anita Dongre that have grown to become popular largely through Instagram, or even designers like Priya Ahluwalia and Supriya Lele who are on every fashion magazine’s radar. But then you also probably know that while it looks glamorous on the outside, the work that goes into creating a successful label is where your worth and wit is tested. In the business of fashion, having a unique product for a niche consumer might not provide the same value season after season, especially when each season is largely dictated by trends that dominate social media platforms.
Four successful entrepreneurs lift the veil off the constantly evolving fashion industry to share the uncomfortable truths of what it takes to start a label from scratch, to raise capital and how to be prepared when faced with roadblocks.
While owning your label is exhilarating, the work behind it is tiresome. Assessing yourself, being truthful about your abilities and being aware of your strengths and weaknesses is the stepping stone to success, says jewellery designer Roma Narsinghani, who started her eponymous label in 2018. “Identifying your strengths and weaknesses helps make room for improvement,” she says. Narsinghani also suggests studying the market before setting up a business. “Market research is important; just because you think your idea is great doesn’t necessarily mean others will too,” she points out.
Studying the market can also pinpoint the gap you can tap into. Just ask Saahil Nandrajog, the founder of Tiger Marrón, a leading fashion brand offering bespoke leather bags made from LWG-certified gold leather and vegan leathers from upcycled and natural materials. “Before our launch in 2017, I did the groundwork for a year to identify multiple gaps in the market related to style, price, functionality, quality and storytelling,” says Nandrajog, who started small with a team of five people and a set of second-hand machines to create ethical luxury products at competitive rates.
While the goal is to build your dream label that is unique and has a different story, just having a dream is not enough. “It’s important to have a long-term vision for your business; it's not about launching one product line, but making it a profitable business by being consistent and growing it into something valuable. A clear vision and mission builds focus, too,” says Meghna Goyal, founder of Summer Somewhere, who, identified her goals before launching her resortwear label in 2019, had identified that quality and pricing aren’t the only factors that direct a label’s success.
Laksheeta Govil, founder of footwear brand Fizzy Goblet, also emphasises the importance of having a clear idea of what products to offer consumers. However, she warns that when doing the work, be willing to learn and multi-task. “When I started, I was the packer, the designer, the accountant and the quality-checker for the initial years before the launch,” says Govil, who set up the label in 2013 from her bedroom.
To turn your vision into a reality, you need capital. Goyal believes that when you have a passionate idea, you must try to make it work with whatever you have monetarily and emotionally. “We started Summer Somewhere with a conservative inventory (and investment) because I first wanted to test the market and understand what the consumer wanted and how they would respond to our products—in terms of styles, quality and price points. Today, Summer Somewhere is entirely bootstrapped, and we can say with certainty that we have a fair knowledge of what our consumer wants and now can make more thoughtful decisions with our capital,” Goyal says.
Govil, too, began with a bootstrapped business model. “When you start, keep your costs low as it increases sales. Be resourceful and take help from people around you. For instance, my sister and her friends modelled for our first photoshoot. You don’t have to have a big budget to create good content. We completely bootstrapped our business and funded growth through sales,” she says.
Running a brand that sustains itself for a short period without sales and profits might work out, and without a positive cash flow, it cannot function. But be prepared not to see the numbers you initially hoped for. “Every penny counts. There will always be more outgoings initially, so it’s essential to be realistic about potential sales growth,” says Narsinghani. Even when approaching investors, the designer believes in transparency. “A compressive business plan is essential. Don’t try to be more than what you are, or can be, to impress the investors. Be confident and in control; the investment is a two-way relationship. Borrowing money is a big step, and it’s equally important to get all the information about the potential investors, their processes and expectations,” she says.
Nandrajog advises brands to start to know their numbers before approaching investors. "Building something from the ground up takes longer than expected and can get more expensive. Knowing your numbers while you get creative in the fashion world is very important. But when the time is right, gear up, make a deck, know your balance sheet and be transparent about numbers," says Nandrajog, who, over five years since the inception of his brand, has invested ₹ 1.3 crores in manufacturing techniques and production that save 30 per cent of energy and 60 per cent of water when creating his products.
While creating a brand could be rocky, no business comes without its challenges. From manufacturing issues (in Narsinghani’s case) to not finding your target audience, being emotionally, physically and monetarily armed will help you face whatever comes your way. “One of the biggest challenges is to find a way around minimums as we are a made-to-order brand. Most manufacturers only work on a bulk order,” says Narsinghani. For Govil, it was about fighting perceptions. “A lot of people felt that juttis are uncomfortable and there wouldn’t be a market for it,” says Govil, who now has seven stores across India, over 700,000 followers on Instagram and brand collaborations, including with Puma, under her belt.
But being a female entrepreneur is not easy, as Goyal points out. “You’d think this wouldn’t be an issue today, but it still is. The biggest challenge is to be taken seriously when you are a women-led organisation in a dominant male industry. We launched before the COVID-19 pandemic, so our plans were impacted (as were many other businesses), but we pushed through,” says Goyal.
Nandrajog also dealt with challenges. “I’ve gone through it all—I have been lied to by marketeers, worked with people who cheated me, and faced issues finding the right talent at various levels. I invested in machines that would help my artisans bring to life the complicated styles that the Indian market hadn’t seen, and that’s not easy. It was tough during the pandemic, but we supported the entire staff and managed cash flows during those few months. It’s been a whirlwind, but I am tenacious, which leads to positive outcomes when you do it with patience and hard work,” says Nandrajog.
"THE BIGGEST CHALLENGE IS TO BE TAKEN SERIOUSLY WHEN YOU ARE A WOMEN-LED ORGANISATION IN A DOMINANT MALE INDUSTRY."Meghna Goyal
Building a brand is tough and turning it into a successful business is even harder. While the numbers in your books may bog you down initially, it’s important not to beat yourself up too much. “. Don’t hyper-focus on one aspect; think macro from time to time,” says Nandrajog. Narsinghani credits the power of planning when it comes to aiming for success. “Spend time making a comprehensive plan; it goes a long way. It becomes a manual that one can keep going back to understand if they need to pivot, modify or continue as is.”
On the other hand, Goyal shares the wise words her mentor recently said to her. “Whenever you have a hard decision, think about how that will look 10 years from now. I wish I had kept this in mind when I just started so we could have been a little more prepared for what was to come.”