Crowdfunding – the new Santa for Fashion Industry this Christmas

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Well, with the New Year around along with the festive season, the fashion industry is gearing up with the designs and sales like anything! But people are expecting more from this industry. There are many investments to set the vogue and define the trend for the New Year Bash! Many small scale designers and stylists often find it difficult to arrange the appropriate fund backing while introducing new styles. No worries, for crowdfunding is here to help them with their capital requirements. It is some model that will truly be perceived to be their “Secret Santa” this Xmas and the New Year. How?

Actually, when fashion designers plan or design anything – be it in costumes or jewellery or related accessories, the costs of making the same are high. Besides the brand value, specific and exclusive designs also require funds. They remain designs only without being executed for the want of finance. In such cases, it is recommended that the small scale designers go the crowdfunding way. It is not only an easy way to avail the finance but also an assured way. The designers can initiate a project campaign for the designs. Individual designs or their collection – either ways can be campaigned for. Typically crowdfunding is done online. However, publishing their designs online can lead to breaches and copying of designs. In such cases, they can actually approach to the right end users by first knowing their interests. Once the interested people show up clearly, the designers can further proceed with the deal for the project.

The interested people have vested interest in the project for they want the designers brand to grow or get a design for them. The designer here should explicitly define the rewards associated with the crowdfunding campaign. He or she must also set a target amount to be achieved in order to initiate the project. Many a times, the festive special apparels and accessories end up with big prices. The funds are required at multiple stages. In such case, the designed campaign can set up milestones to start different phases or batches of work. This makes the life of the designer simple.

On the other hand, designers also keep updating the growth in the crowdfunding project. This is a plus point rather Christmas Bonanza for the end users. Many a times it so happens that the customers are unaware of the progress and there is less transparency between the designer and the customer. However, crowdfunding evades that problem. You actually know what is being done, how it is being done and what is the progress in the work. So, this model works as a Santa for the end users as well. Also, if you want to remain exclusively dressed and styled, you can definitely get it your way by helping your designer with the required amounts at different levels of making your ‘look for the festival’. So are the designers ready for crowdfunding? And are the end users too?

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This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have

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