By Hannah Middleton, Fashion and Retail Consultant and Academic, Fashion Business Sense Consultancy
Our Masterclasses on Monday 17th continued, with Hannah Middleton. As an expert on fashion and retail consultancy, she was able to offer a detailed session discussing range planning and internationalisation. For many of our young designers, this course was an eye-opening experience into the complexity of running a fashion design business.
Hannah began by asking the designers to think about the number of options, styles and SKU’s (stock keeping units) in order to break-down the logistics concerning their brand. Designers discussed how they planned their collections in terms of how many looks, Hannah then emphasised how it is important to focus on creating looks within the collection as opposed to having a wide variety of pieces.
There was a lot of discussion throughout the class as designers asked questions about the pricing of items as she went through the “Five Rights” to range planning. Through the use of charts and diagrams, Hannah was able to talk through intake margin, cost pricing and payment cash flows. Fashion Scout debut, Rosella May from her brand also named Rosella May, told us she found the range planning and pricing really interesting. “The buyers and the stockists are something I really, really want to get because obviously without having buyers and stockist you’re not going to make a profit and you want to be able to make a living off something that you love”.
Words by Ellie Pinder