We are, in our humble opinion, at a generational turning point: changing customer attitudes are leading to new value systems and a different approach to responsibilities with the mantra of saving the planet. A model that has run out of steam and is depleting the planet’s resources (employees, raw materials, etc.). The brand is, in fact, part of a business model that treats clothing as perishable goods, to be discarded after being worn only a few times. The second pitfall is the CSR dimension, which Fashion Nova only partially implements – through its Curve line. For a brand that was essentially built on social media, the threat is hardly harmless. So if the dress youre searching for suddenly goes unavailable, dont fret because itll be back in stock shortly. Furthermore, lawsuits cost a lot, not only financially but also in terms of reputation. The Fast Fashion model can certainly prosper easily in the USA thanks to legal loopholes, but this isn’t really the case on our older continent. Fashion Nova was even sued by Versace in 2020 for counterfeiting. Fashion Nova’s business model is “inspired” by creations from luxury brands and major designers, offering virtually identical replicas at lightning speed. The first reservation is regarding intellectual property violations. However, in our view, this model poses two major pitfalls. 95% of them are sold for less than $60.įashion Nova’s talent for catering to and interacting with its customer community is well recognised. 600 new references are added every week, following market trends. Fashion Nova only needs 24 hours to create a prototype, shoot it with a model and put it online. Within a year, he bought the biggest modern US home for 126 million and a house on 'Billionaires Beach. The brand uses a thousand local suppliers to manufacture its products. Richard Saghian has led Fashion Nova since 2006. A true lesson on the art and style of crowdsourcing.įashion Nova’s business model? Identifying a garment that captures the attention of fashion fans on social media and quickly offering them a copy at an extremely competitive price. Most Fashion Nova orders are delivered on time, but there may be delays in execution and delivery due to COVID-19 or government restrictions. Monitoring influencers’ posts closely and consistently, assessing engagement rates and looking at comments is one of the building blocks of its meteoric ascent. The brand thus focused on the social media of fashion fans: Instagram. Fashion Nova is taking the Fast Fashion sector by storm, despite the outcry from some members of the public that rightly criticise the company’s disastrous impact on the environment.Ī runaway success, established by Fashion Nova’s ability to identify, understand and anticipate customer needs. An exponential rate of growth in sales (+600% in 2017) and soon to have 20 million followers on Instagram.
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