While the fashion industry generates billions of dollars in revenue for New York City, it currently faces many challenges as well as opportunities. In 2006, the NYCEDC conducted a strategic review of the industry, including quantitative and qualitative studies and identified the issues currently faced by different stakeholders. The most prominent challenges facing the fashion community are escalating rents in the Garment Center, increasing trade show competition from other cities, low cost/low minimum offshore manufacturing and a lack of consolidated information sources. These issues have created a business environment that is becoming more and more difficult for companies in the industry.

The core objectives of this project are to increase communication and transparency among the different stakeholders in the fashion industry, provide marketing tools to stakeholders allowing them to reach their customers, create opportunities for increased business growth, and overall, raise the prominence of the NYC fashion industry locally and internationally. The project will achieve this by developing and building effective and powerful marketing strategies along with corresponding business models in order to ensure the feasibility of their implementation.

ABOUT LAUNCH COLLECTIVE

Launch Collective is a New York City based creative business advisor. A boutique consulting firm, it specializes in small-and mid-sized fashion businesses, providing crucial business expertise to support companies as they launch and grow into sustainable, widely recognized brands. With an exceptional team of entrepreneurs, strategists, merchandisers and marketers, Launch Collective brings vision and structure to help entrepreneurs grow companies professionally, efficiently and effectively.

Launch Collective brings this project unparalleled on the ground experience and in depth understanding of the New York Fashion Industry, as well as the passion and determination to improve it.

ABOUT NYCEDC

New York City Economic Development Corporation (NYCEDC) is the City's engine for economic growth citywide. They champion a broad range of initiatives designed to develop stronger neighborhoods, stimulate employment growth and encourage investment throughout each of New York City's five boroughs. NYCEDC is committed to making the City a more prosperous and satisfying place to live and work. New York City is filled with individuals, businesses and communities looking to make it big and the NYCEDC is there to help.