The future of investments are for companies who can hone in on their creativity as well simplify their supply chain. We got advice from top VC’s and Consulting firms on how you as a designer can get funded!
Our Sharks are VC’s Lawrence Lenihan, William McClelland, Ellie Wheeler and Consulting firm Kurt Salmon.
Lawrence, a successful fashion tech VC who understands creatives and how to combine creativity and business spoke heavily on the need to innovate in the on demand space. Lenihan was joined by Daniel Vosovic, Creative Director of ‘The Kit’ to show pieces from his collection as well as explain his design aesthetic and how the duo works together.
Lenihan was most adamant about seeing all this change in the industry as a huge opportunity for all players. Including companies that use innovative technology in their supply chain. Consumer demand is dictating this change in business and disrupting traditional processes.
“Big brands are dying the death of 1000 paper cuts from small brands who mean more to their customers” “Small brands are failing because businesses are moving 10x faster and building a successful business model is 10x harder.”
Brands will have to be innovative while keeping up with demand by partnering with companies that can ease the costs and headaches of production, while creating easy transitions into new categories without costing the brand crippling up front costs. Partnering will allow brands to focus on their core customers and products but also keep up with the demand for small batches or trendy items that customers expect.
Lawrence demonstrated that traditional manufacturing cycles are:
He envisions a faster process:
Create a label with a design plan that is support of more progressive cycles and you are on your way to funding!
Will McClelland (Partner, Grace Beauty Capital) + Ellie Wheeler ( Partner, Greycroft Partners) Panel Discussion: “ Put your Money where your Mouth Is”
Venture capitalist Will McCelland and Ellie Wheeler brought valuable insights about which companies would be of interest to VC’s based on the current demand. Although fashion brands focused solely on trends and categories such as athleisure, may have a difficult time getting VC funding because of the over saturation of the market, companies that can help to solve the supply chain problem are of the most interest. Innovation in the supply chain can help companies test new categories, get products to market faster and help meet the demand of consumers.
Fashion companies looking to receive funding need a way to optimize their supply chain by integrating technologies and platforms such as the one Sourceeasy provides.
The VC world isn’t the only world seeing the need for innovation in the supply chain, Kurt Salmon, Global Management Consulting Firm, identified speed to market and visibility as the most daunting challenges facing supply chains:
“Speed to market- Reduced overall time from concept to delivery, reduced time from order to delivery, use of rapid replenishment models and optimal leverage of inventory in the network to best satisfy consumers’ needs (e.g., enhanced use of ship-from-store or in-store pickup).”
“Visibility impacts merchandising, sourcing, product development, production planning, operations, supply chain, logistics, warehousing, store operations, customs, compliance, treasury, accounting and finance. It is a cross-functional initiative. When viewed only as a logistics or operations initiative, end-to-end visibility cannot be achieved.”
What is more visible that a platform that allows you to collaborate and communicate as well as mange each part of the process?
Looking to get funding in the fashion market, stop sketching and start strategizing on how a full package, end-to-end, delivery with transparent participation process can get you to the money faster.
For more information on the Sourceeasy process, Click Here!