SE1 London – diary

 

 

Last week my schedule was as strict as someone’s in the British Army (maybe my degree at Kings College London’s War Studies has helped after all or maybe it was the pending new role: motherhood)

Rather than moaning to you again this week about the pain of doing accounting and admin, I actually got up early every day last week and managed to finish it all. I had no choice. My first baby, Kristiina, was born this past Friday 22/4 and the next few weeks my role as a business owner/fashion designer/accountant/sales will be diminished to a more demanding role: being a mother!

This week has also been a good start for learning to work away from London. Fashion wise I do not feel as inspired as in London, but rural Dorset does make you feel less stressed and peaceful. In London you have the constant interruptions of Starbucks cravings, invitations to girly lunches (I already miss them though) and time wasted running around London.

 

Last week I promised to talk about ways of generating more sales. I have taken about 15 designers at my shop on a basis of sale or return (SOR). This means that the designers will supply me with the stock and they receive a pay cheque once a month for all items being sold.  This can be a good way of doing business, but has lot of downsides as well. Sale or return prices tend to be higher for the business owner than those of wholesale. Wholesale for boutique owners mean that you pay upfront and buy in bulk so the price is lower. In sale or return, the designer is investing her own money for the stock and you have to wait for the money until the item has sold. It can be very time consuming as some boutiques will take their time to pay you and do not

respect the terms and conditions that you have agreed to. I have had some very bad experiences of doing sale or return. With one particular shop, I never got any sales reports back and at the end I had to wait 2 months to get my stock back.

 

 

 

Based on this experience, I have taken a commitment of providing monthly sales reports to all my designers and to pay them once a month. I personally have not found any shops since then whom I can entrust my stock on a sale or return basis. Fingers crossed I will, as it can be a
good way of getting your stock out there rather than sitting at home collecting dust. There are many shops that are keen to take designers on a sale or return basis, as it will instantly refresh the stock selection, and will keep customers coming back for more. Some shops will also rent you
space and there might also be small commission that you have to pay from your sales. The best way is to test your selling skills and start contacting boutiques.

 

Alex will be writing the diary for the next 2 weeks, otherwise you would be bored about hearing sleepless nights and nappy changes! For those who have fell in love with our wrap dresses, new stock is arriving this week. I promise you Pucci type of prints and lots of colours to brighten your day. By the way, those dresses are also great for maternity, as I have been wearing them throughout my bump days………