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LIM Fashion Insider: Michelle Alleyne

posted by Erika Massey

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Michelle Alleyne is anadjunct professor at LIM College who teaches sustainability classes. She is a fashion strategist. She uses her expert knowledge to help small businesses and entrepreneurs enter the fashion market. She has learned most of her knowledge through her own entrepreneurial endeavors. She currently has owned her own business called M Shop since 1998.

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M Shop was originally a NYC boutique in downtown that supported emerging designers. In 2004 the boutique expanded into a Full-Service Fashion Firm. Now M Shop has a range of offerings which include workshops, consulting, and products. These are all designed to aid fashion entrepreneurs with the entire process of creating their own business. This includes working with them on their concept, product development, marketing, promotions, sourcing, manufacturing, and sales.

Her Fashion Insider Knowledge:

E-Commerce as a Business: How to design your fashion line and online boutique

  • 1. Create a Business plan

  • Key partners- suppliers

  • Value Proposition is to offer something different

  • You must understand your customers

  • Do proper market research

  • Key resources - What are the important assets

  • List all the costs

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  • 2. Include Financial Statement

    1. Startup costs

    2. Income Statement

    3. Sales Forecast

      • 3. Determine Business Structure

        1. Will you be a sole proprietor or LLC or another type of ownership?

      • 4. Tips for Starting a Fashion Linemichelle4

        1. Perfect your samples first

        2. Do not overproduce and only make what is needed.

        3. Create look-books

        4. Hire a model to wear it for shoots and sizing

        5. Not sure how to size? Look at competitors' sizing

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Erika Massey is a rising junior in the Visual Studies program at LIM College. She is a student mentor and works as a student ambassador for the admissions office. She also is one of the co-leaders of the philanthropy club, president of the resident’s hall council, and a member of the global students’ club.

 

Topics: LIM College, fashion industry, NYC style, sustainability

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