[RECAP] Local Startup Fest: How to Start and Survive the Fashion Industry
Last Thursday (20/10), Samira Shihab (Co-founder Tinkerlust) and Riana Bismarak (Founder & CEO Belowcepek.com & ReeIndonesia.com) shared their experience on building a fashion business at Local Startup Fest, Kuningan City Ballroom.
What should be remembered in building a fashion business?
Fashion is not a rocket science; everyone can make the exact design you create. It is inevitable to have a copycat of your work.
How to survive the massive competition in fashion industry?
- Do not identify your SWOT (Strength, Weakness, Opportunity, Threat) but figure out your TOS (Threat, Opportunity, Strength). It is not about what you can do best but find what your competitor has done so far, find out which product is not in the market, then focus on that segment.
- Create your own mission. Just dreaming of having a fashion business is not enough, it will drive you nowhere. Create a more visionary goal, for example is “my mission is to make the biggest fashion brand in Indonesia”.
What innovation has Tinkerlust done so far?
- Using Big Data
Utilizing big data is important in this fast changing market. By doing that, they can customize your customer wants and needs to push their sales. Tinkerlust use historical data to identify shopping pattern for their customers.
They always improve their website to make selling and buying can be easier than ever.
- Creative Marketing
Networking is important. They can manage a minimum cost for digital marketing by enforcing the power of network. Instead of hiring costly influencer and blogger, they focus more on creating a Tinkerlust’s community.
What innovation has Belowcepe.com and ReeIndonesia done so far?
- Using friends as models
The main problem for online fashion business is it is hard for customer to trust the clothing picture. Because of this, Belowcepe.com hired Riana’s friends who have average Indonesian women’s height and body to be their models. It makes the picture more realistic compared to hiring Caucasian models.
- Free Marketing
Similar to Tinkerlust, instead of hiring costly influencer and blogger, Riana stalked public figure’s stylist on Instagram, contact them one-by-one, and offer them ReeIndonesia’s clothes. By giving more effort, she can get her design to be wore by Indonesian public figures.
- Utilize every phone apps that is avalaible in the market
Riana stated that she can’t use any design software. Therefore, she utilizes easy-to-use design apps on her phone. It can minimize the cost of hiring full-time designer.