(Black Enterprise) — Many African-American entrepreneurs have found success in the fashion business – Jay-Z, Russell Simmons andTracy Reese to name a celebrated few. But for those looking to build their fashion house lack the financial resources and celebrity backing of the big players, missteps can be fatal. Here’s how fashion experts say you can stack the odds in your favor and go from fashionista to fashion mogul.
Identify a clothing concept and target audience. Determine what garments you will make and study the fabrics you will most likely use. Then conduct market research to see if there is a target audience for your clothes. Talk to owners of retail stores and textile suppliers for information about businesses that produce the same kind of apparel that interests you. These contacts should also be able to tell you the buying patterns within various price points.