In today’s age, starting a new fashion brand online is very, very difficult. Fashion is the most competitive industry, hands down.
According to McKinsey Global Fashion Index, the global fashion industry is estimated to be worth $2.4 trillion.
Not only is penetrating this market incredibly competitive, but then once your business does get some legs…competing in a global industry plagued by copycat rivals and ruthless competition is not an easy fete.
Couple this with the huge amount of start up capital required to not only fund your first run of production, but advertising in an industry that spends $1.01 billion on advertising each year.