Not Just A Label: Creative Entrepreneurship

Not Just A Label – Creative Entrepreneurship by Stefan Siegel

Fashion expert, ex-model, economist, finance consultant, and successful entrepreneur Stefan Siegel is discussing on the topic of creative entrepreneurship. He is the co-founder of website Not Just A Label, an international platform for showcasing and promoting emerging fashion designers, which today represents over 13,000 designers from 100 countries.

There are people who are actually interested in what young designers are doing. The media response to our entrepreneurship venture was very surprising. A number of ELLE magazines featured us and our traffic jumped 160%. And then new designers rolled in, and new customers and new experiences. We opened to the world, we bypass the whole buyers system and we gave the opportunity to designers to sell their stuff online by themselves. Ukrainian designers sell best, but we can’t explain why. “Anyway, it is good because the turnover is good and money pour into their struggling economy. You know they are poor”, he says.

Now even big international brands want to collaborate with young designers.

Why emerging designers become such a big thing? “Individuality became a big thing. People do not want to stay in Hilton any more, they prefer to stay in boutique hotels. So, the same goes for young designers. People want something unique.”

“A huge factor is the digital channel. Ten years ago it was different. Now technology is creating infinitive opportunities. In fashion,it changed the way we look at fashion and how we presented”, he says.

The business of a young designer it doesn’t have to be a lonely business any longer. “By working together and in a community we can grow faster.”

So, what is the fashion of the future? “The new business of the future will be very different completely. You will be able to present yourself differently. New generation is technology skilled and knows where to find information it needs. The power we have now to communicate forces us to sell an honest product.” But the industry is not changing and moving in only one direction. “The system is changing. If you have a good content, people will spontaneously share it and the content will go viral and you will get the publicity you need.”

Of course, technology can be tricky and Mr. Siegel knows that. “Digital is fast, but it could be also dangerous and you have to watch out what you post, because what goes arround comes arround.”

In addition, the market has changed because the trends have changed. “Now people start thinking more what they buy. They want to buy things they can use longer. Luxury brands recognise this trend and their collections are becoming a bit timeless nowadays.” Customers are starting to like socially responsible brands, too. “The stigma of making money now can be combined with doing something ecological, related to nature and good deeds, inspiring others.”

“Entrepreneurship is about doing something different. 5% are taste makers now, while 95% are followers, says a recent study.”

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