Blog.
THE ART OF product Management
KEY LESSONS FOR THOSE EXPLORING THIS CAREER PATH
In 2010, while awaiting the final results of my thesis, I found myself contemplating the direction of my career after studying business administration in Germany, France and US. One thing was clear I wanted to do something in fashion, so let me digress a little.
During my studies abroad in San Diego, I had the fortune of crossing paths with two fashion enthusiasts from Paris. Witnessing the way they expressed their individualities through fashion and evoked emotions in others, left a lasting impression on me. Their sense of style opened doors to exclusive events and gatherings in Hollywood, making me realize the power of fashion as a means of connection and cultural expression.
THE JOURNEY TO FASHION
As destiny would have it, my first step into the fashion industry began with a fortuitous encounter on a Caribbean cruise with my family. An elegant gentleman, impeccably dressed in Dolce & Gabbana attire, stood out among the crowd. One night my brother engaged in conversation with him, discovering that he owned a boutique in East Germany and had valuable connections in the fashion world. This serendipitous meeting led to an exchange of contacts and eventually landed me an interview for a product management role at a Berlin based brand.
Eager to prepare for my interview, I immersed myself in learning about product management and drawing knowledge from a book. The interview proved successful, opening the gateway to a five-year journey at my first employer.
THE ART OF PRODUCT MANAGEMENT
Here I have learned that at its core, fashion product management involves analyzing past sales figures, forecasting trends, studying the market, and understanding the competition to define collections that cater to the desires and needs of today’s consumers. It requires seamless collaboration between design, production, development, marketing, and sales teams, while always remaining adaptable to a dynamic environment and changing customer demands.
Next the creation of a critical path is pivotal, which includes the definition of major milestones from collection brief to prototyping and ultimately, the collection's brand launch. Especially when you work with Italian suppliers, it is a wise approach to build in a buffer of 1-2 weeks, to make sure that samples arrive on time.
BALANCING CREATIVITY AND FINANCIAL PLANNING
The core and most fun part of fashion product management lies in the range planning, where analytics and creativity blend to predict customers' preferences in the upcoming seasons. Analyzing past seasons helps to identify best-sellers and slow-movers, while research and immersion either on platforms such as WGSN or visits to major cities like London, Paris, and Copenhagen can offer glimpses into the future.
Furthermore, as a product manager you can work on successful collaborations with other brands, designers, or influencers to breathe new life into a fashion brand and create exciting opportunities for growth. Especially at my first employer I have learned, that building strong relationships and aligning brand visions with collaborators are essential to reach new consumer groups or push growth for selective underpenetrated commodity groups.
UNDERSTANDING BRAND IDENTITY & TARGET CUSTOMER
Lastly you need to understand the brand's identity and target customers, as it is the key to define the collection basis (also called "OGs”) as well as trend pieces for each collection. While accessories boast the highest margins, followed by footwear and textiles, the process involves much more complexity than a simple categorization. More details about the range plan building will follow in the next blog article, as it is one of the major pieces of a product manager, which cannot be squeezed into two sentences.
CONCLUSION
Product management in fashion is an art that goes beyond just creating clothes and accessories. It involves the combination of creativity, consumer insights, and business acumen. A successful product manager acts as a bridge between design, marketing, and operations, ensuring that the result resonates with the brand's identity and meets the desires of their target audience. If you are a creative person, enjoy working with numbers and across teams at the same time, this might be the right job for you.