INTRODUCTION TO FASHION BUSINESS MANAGEMENT – A BEGINNER’S GUIDE

Fashion Business Management.

Many would have heard the term ‘Fashion design’. 

Fashion business management is something that is not a common terminology everywhere. So, what exactly is this course about?

Let us understand the basics! 

What is Fashion business management?

Fashion as an industry cannot be defined just by the design aspect although that plays a vital role in the product development. Without a company having proper management and marketing skills, the product cannot be sold. Business Management and Designing are like the rowers of the boat! When these two components balance themselves and have a streamlined strategy, it is going to ensure the success of the product and thereby the business itself.  

So, fashion business management is all about creating awareness of the rapidly evolving and changing fashion industry both in its technical as well as commercial aspects. 

The course prepares individuals for the business world wherein they take charge of all business activities from Retailing to Marketing to PR and also involve themselves in the financial aspect of fashion which is also very important for any business to sustain itself in the market. 

An industry without proper business management will always be incomplete. The fashion business management course is all about diving deep into the practical side of the business and getting the ability to analyse and adapt to the occurring changes of the industry. We will look at various aspects of the course in the pages to come.

Why is this degree important and what makes it unique?

The industry as we have it now focuses substantially on new technologies, environmental aspects like sustainability, improving the supply chain, retailing and merchandising, digital marketing, etc. This is just the tip of the iceberg. There is so much depth to everything that happens within a company. 

Fashion Business Management offers the students an in-depth and a practical understanding of the business world through interactive classroom sessions with faculty, Master class sessions with guest lecturers, Factory visits, and networking with people belonging to the industry.

Basics of Fashion Management

When you look at the syllabus that is being offered, one thing is very clear, that it is well planned and strategized. 

The first year is all about laying a strong foundation

Here we will learn about the basics of the course which is split into 3 main modules which are:

• FASHION CONTEXT
• FASHION BUSINESS ENVIRONMENT
• RESEARCH AND COMMUNICATION SKILLS

Under these 3 strands, there are subjects like Buying process, Merchandising, Economic aspect of fashion, financial aspect in fashion, statistics, Raw materials and production, Research methodology, Business communication, computing skills, HRM, Marketing, Retailing, etc.

We should choose an Indian fashion brand and conduct various types of research.

“The interesting thing is that we are given ample freedom and opportunities to express ourselves and our own way of thinking and analysing.” 

Research on the growth of the brand, its front-end, and back-end operations, Marketing and PR strategies take their product to the end consumer, and every aspect of the business model will be covered and analysed thoroughly.

Internship phase - After completing the first year

The internship is where students can test their knowledge. The skills and competencies gained inside the classroom can be tested and we will have an on-field experience in the fashion industry.  

The biggest advantage of doing Fashion business management is that there is a wide scope of job opportunities available at our disposal. 

The course is structured in such a way that whatever job opportunities come, the student will be able to handle them. The practical skill gained in the classroom through interactive sessions, and case study learning, will come in handy. Networking is also a big part of the course and it is imperative to get in touch with some industry professionals and have them as a mentor. 

The internship provides this opportunity for the students.

Second-year - Preparation for management career and entrepreneurial skills

In the second year, the study moves into the International market where we have to choose an International Fashion brand and conduct research 

The fashion business has evolved to a different stage altogether. We will also get an insight into the making of a brand in terms of entrepreneurial skills and management. With the advent of new technologies, the way companies interact and communicate with the market has also changed drastically. So, it is important to keep ourselves updated with the new terminologies and platforms used by the brand. 

There are also many contacts that one can get from the Industry. The placement and career division team gets plentiful opportunities for fashion business management students as the demand is quite high for such people. From start-up businesses to famous and big ones, everyone wants diligent and resourceful people.

The classes will be up-to-date and every news and insight will be shared either as an experience by the faculty or as a case study analysis, or as an assignment where we have to do secondary research ourselves.

There are both Undergraduate and Postgraduate courses in Fashion business management 

UNDERGRADUATE - FBM	3 Years ( with 2 internships at the end of 1st and 2nd year )
POSTGRADUATE - FBM	2 Years ( with one internship at the end of 1st year )

• At the end of the final year, for both UG and PG there would be a capstone project.  
• The students can also work on a live industry project where they can research and propose new and innovative ideas to the company.
• Or they can work on a Dissertation report by choosing a topic in the fashion industry based on their liking.

Advantages of choosing Fashion business management

Every student wants their CV to stand out when they want to enter the industry. The kind of work that goes into the making of presentations and reports for the brand research has many merits. Apart from just information, it can also play a crucial role in your CV. 

The scope that this course offers brings in a wide bandwidth of job opportunities. Every company regardless of what industry, wants individuals who can combine both the irrefutable research stats and their innovative ideas. 

As a student, you will be able to analyse every small business detail and come up with reflective solutions. 

Understanding the past, present, and future of any business is a very important task. That’s when we will be able to forecast and strategize business ideas. The tutors have highly experienced field knowledge which makes it a different learning experience because they don’t teach from books or online, but they teach from their own work experience that they encountered in their work life.

The Future

How the fashion industry was 100 years ago, it's not the same anymore. That much is very apparent even to a lay person. How we understand and adjust to the ever-changing curve of space and time in our lives will make the difference between who is successful and who isn’t. 

The designers in the fashion industry need people who can take the brand and its product to the next level. Conscious progression in all aspects is very much needed and that's what keeps the business going in terms of revenue and increased market share. 

The improvements and enhancements that keep happening are all mostly happening only on the business management side of fashion.

METAVERSE is a prime example now. Economy and business are highly valued. Whether this is a good or a bad approach is completely altogether a different and debatable topic. 

The future generations should ensure there is collective balance in the environment that we live in, in terms of sustainability. 

That should be the main line of thought. 

Fashion business management courses uncork these kinds of out-of-the-box thinking and implementable solutions that can be offered to the world that we live in. 

Creative and constructive business leaders are needed right now. Fashion business management empowers the students to act and be a part of the solution. 

You can also have your own start-up business as you would be well equipped to handle different streams of business. 

Looking at how the fashion business has evolved till now, it is also going to see more drastic changes in terms of automotive production, marketing strategies combined with technological advancements, Sustainability, are going to be key in the future. 

Fashion business management is a sure-shot guarantee for the students who want to explore a different aspect of business and come up with a viewpoint that is completely different from what is there in the market right now.

Guide to beginners who want to pursue Fashion Business Management

“Let me draw a quick personal experience after I joined this course. I’m a postgraduate student of Fashion business management and I have just completed my first year. Already owning a Bachelor's degree in Fashion design, I went for my Internship and I was working on Marketing for the company. That’s when a stark realisation happened to me. Even though I had the design knowledge, I still did not have the means or practical skills to get to the desired market for that company. I started to educate myself on business management for a while. Then I decided to learn more about colleges and courses which offer the needed business knowledge.”

Note to the ambitious and spirited readers

Business-minded people should start thinking more in terms of giving back to nature and the community. The fashion industry being the second most polluting industry in the world is not a positive thing to see or read anywhere. If change has to happen, people who are both intellectual and whole-hearted are needed. 

As fashion business management students we have the power to do that. To create the change and be the change that we want to manifest in the whole wide world. The course offers perspectives and glimpses which can create a conducive environment for creative and efficient learning. Without business management, no business can function. It is of great importance for organizations to encourage the young generation into the business world as they can contribute so much to the industry and also for the welfare of other people. 

To sum up the entire article, the fashion business management course is nothing ordinary. The modules and subjects offered are a unique blend of sophisticated cocktails which makes you high on knowledge!

The business management course is up-to-date and refined that can be suited to every individual who wants to pursue a career in the business side of Fashion. The scope and opportunities that this course brings in, in terms of job opportunities are plentiful.