The fashion industry is defined by individuals.  It is the names of designers (so famous they only need a surname) which consumers repeat and remember.  It is images of the hottest young models which they pore over at home, in coffee shops, at work, and in beauty salons.  It is Hollywood celebrities who wear both designer and high street brands on shopping mall advertisements and highway billboards.

Yet, none of this could be achieved without the hive of manufacturers, suppliers, and retailers driving the industry forward.  Now, more than ever, these companies are starting to move in from alternative areas.  For example, retail and technology are becoming increasingly connected, with wearable tech at the forefront of innovations.

Knowing How to Make an Entrance

For modern businesses, it means that the fashion industry is no longer an exclusive or difficult place to access.  It can be an industry to diversify into and grow within and alongside.  You only have to think about how popular food themed prints and patterns have been over the last five years – and how frequently food is used in fashion advertisements – to see that even two industries which often seem diametrically opposed can share a close connection.

The question is, could a move into the retail industry be a worthwhile investment for your business?  What advantages does it pose and are they bigger than the potential risks?  To answer this question, you need to consider some important points, including whether you have the capital and the resources to keep up with an industry which never stands still.

Plaid Flannel Shirt Clothing Store Fashion IMG_7681 by Steven Depolo, on Flickr.  This work is licensed under a Creative Commons Attribution 2.0 Generic License.

Happy to Be a Background Player

The fashion industry, as already described, is one which rewards companies which are happy to move in the background.  It is ideal for businesses which want to fund back, or sponsor new ideas and promising new talents.  If you can find and financially support a young brand or designer with the potential to make it big, you stand to make a great deal of profit and build up a sustainable and lucrative business model.

A good example of an entrepreneur who has achieved this is Fahad Al Rajaan.  The Kuwaiti businessman has made his fortune by making wise investments in a number of different fields, including the fashion industry.  He has worked with businesses in Egypt, Kuwait, Iraq, Qatar and Great Britain.  You can connect to Fahad on LinkedIn to find out more and to take advantage of his many diverse online connections.

Fashion as a Changing Entity

One of the biggest advantages of a move into the retail industry then is the fact that, if your business model is flexible enough, you can link it to fashion in an almost endless number of ways.  This is particularly true when it comes to the tech sectors.  You can develop mobile apps which allow shoppers to locate discount codes for online stores.  You can partner with fashion brands and cooperatively design themed handsets, laptops, watches, or other gadgets.

The fashion industry is such a popular choice for investors because the financial rewards can be immense.  It is certainly one of the biggest industries in the world and spans all spectrums of the market, from the cheapest budget fashions to the most luxurious designer brands and rare commodities.