Keeping Up with Fast Fashion
The Challenge: Fast Fashion Operations
Gone are the days of seasonal clothing lines. Instead, clothing manufacturers are continuing to push their designers and their manufacturers to turn out new lines in a matter of weeks. Our client for due diligence services was interested in an apparel tagging company that has the capabilities to keep up with the new speed of fashion. Before moving forward, our client needed to conduct private equity due diligence to better understand the adoption of fast fashion, the role of customer service and how the larger competitors felt about jumping into this niche space.
The most insightful conversations came from advisors not in senior leadership roles. These were decision makers with insights on the ground floor.
Target Profile for Expertise
- Executives from major “fast fashion” companies who can talk about broad manufacturing trends
- Former executives from a larger comparable who can discuss the competitive landscape and new technologies/innovations as it pertains to clothing tags
- Individuals who decide which tagging company to utilize at a major retail chain
“Apex Leaders helped us stand out in a crowded marketplace and made us appear more thoughtful in the eyes of our sellers.”
Jeff Farrero
The Search for Industry Expertise
Unique to this instance, some of the most insightful conversations our client had came from individuals not in senior leadership roles. It took a good amount of creativity to be able to find the actual individual in a major retail company who made the decision about which company would print their labels. In fact their were numerous individuals depending on the manufacturing and distribution products. These individuals though were able to shed light on why they would choose one provider over another and how “fast fashion” was changing their needs.
The Results: Perfect-Fit Advisors
- CEO of major direct competitor (retired)
- Director, Global Sourcing, major national sporting goods chain
- Director of Sourcing for national “fast fashion” retailer
- Architect of competitor’s online platform (former)
Last Word
Our client developed strong understanding of current trends in retail apparel tagging from the perspective of clothing manufacturers, retailers and competitors. Leveraging due diligence consulting with experts from Apex Leaders, they gained insights into how smaller production runs and fast turnaround times were reshaping the industry. Plus, they confirmed the target’s geographic footprint, and exceptional customer service were highly thought of by top-tier end customers.
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