In today’s post we interview Rachel Chicheportiche, the President of the high-end accessories brand Jerôme Dreyfuss. It is an excerpt from our book, The Fashion Business Plan, that explains what makes a business plan in the fashion industry so specific and helps fashion designers write their very own business plan.
Making soft and supple leather bags, as well as shoes, for the cool downtown girl, the brand has been carried by most stylish women in the world, including Julianne Moore, Keira Knightley, Sarah Jessica Parker, Diane Kruger and Jessica Biel. It has significantly expanded worldwide. Besides the Parisian flagship store, stores were opened in New York, London, Seoul, Tokyo and Taipeï.
Rachel Chicheportiche has managed both capital raising (MEUR 3) that enabled to fund the brand’s booming activity.
What were the key success factors that enabled the brand to raise capital?
Key success factors are mostly good products and good financials, to be able to raise capital it is important to explain your business plan and the potential of the company, on the other hand, team is crucial, there is no company without a right team.
You raised capital twice with the same investment company. Why did you choose them?
I choose them because we had a good fit, I rely on them and they rely on us. That being said, raising capital is always a question of conditions, they are prerequisite of any raise of capital. To define good condition we must know how the money will be used, and when.
Which elements of your presentation did the investors especially appreciate?
I think it is a mix of my personal energy and my strength of conviction, investment companies see so many people, if you want them to invest in our company, you have to convince them, to have them believe in your vision of the market, its evolution, and your way to address it.
Once the capital raised, what are the specific requirements from the investors? How do you report to them and what did you implement in order to satisfy those requirements?
Obviously financials reports which helps you to stay always on the safe side and to be sure you are in line with your strategy and you targets.
Which advice would you give to emerging fashion designers who think of raising capital to develop their brand?
The only thing I would say is: If you were an investor, would you invest in your company?
Think about it
Interested in raising money for your own fashion brand?
Here is the tool you need to get for yourself. The fashion business plan provides you with a step-by-step approach to write it all down.