Kate Hudson is not only a successful actress but also a successful business owner. Her clothing line Fabletics is one of the fastest growing companies in the active wear industry. Kate Hudson, the owner of Fabletics has a few tips for people that are trying to break into an industry with their own business.
- Find an Opportunity
This is one of the most important tips because this can help a business owner succeed in the industry he is trying to break into. Even though the fashion industry is a saturated industry, there are a lot of gaps in it. Kate Hudson has found quite a few gaps. For instance, she has noticed a lack in active wear clothing that she has wanted to address. She has also seen the issue with pricing. This has given her an opportunity to fill the gap in the market by providing clothing that is unique and affordable.
- Know the Trend
The term that is often heard in trading is that the trend is a friend. One of the trends in active wear that Kate Hudson has seen with a lot of potential is the style ‘athleisure’. These are the kinds of clothes that are designed both for athletic activities and casual activities.
- Remain Actively Involved
One of the worst things a business owner can do is set up a business and then walk away. This leaves the company vulnerable for any issues that can cause some huge losses in the company. With Fabletics, Kate Hudson keeps herself involved in a lot of the different aspects of business. One thing she does is look at the sales numbers in order to figure out which products are selling and which products are failing. This helps her decide on how to move forward.
- Reach Diverse Groups of People
This is a very important tip, especially when it comes to fashion. Women of all sizes and shapes are interested in finding clothes that help them look better. The only issue is that many of the fashion companies are only selling to the smaller groups of women. The companies that include larger women often leave them with just the basics. Kate Hudson uses Fabletics with the hopes of promoting not only healthy living, but inclusive living. Therefore, she works with her designers to create and sell clothing for different body types and sizes.