What are the biggest reasons new fashion brands fail?
In my experience, there are several significant reasons why new fashion brands often fail. One of the biggest issues is a lack of clear brand identity, leading to confusion among potential customers. Overcrowded markets and fierce competition make it difficult for new brands to stand out. Additionally, poor quality products or customer service can tarnish a brand's reputation quickly. Lastly, many new fashion brands fail to plan and manage their finances properly, leading to unsustainable business models.