Elena Gromova, founder of the Fashion Business Lab, has spent over a decade navigating the complex world of fashion. Her journey is one marked by perseverance, adaptability, and a deep understanding of what it takes to make a fashion brand thrive in today’s competitive market. Elena Gromova has been at the forefront of helping fashion entrepreneurs build and scale their brands, offering invaluable insights on everything from distribution strategies to production management. Her expertise and passion for the industry have made her a trusted advisor to many emerging designers and business owners.
Elena Gromova recently shared key learnings from her ten years in the fashion business, offering practical advice to new and established brands alike. She emphasized the importance of diversifying distribution channels, a critical element in any brand’s growth strategy. As Elena Gromova pointed out, there is no one-size-fits-all approach when it comes to distribution. While some brands may find success in direct-to-consumer models, others might thrive by focusing on wholesale, as seen in the case of Soulland, a brand that prioritized wholesale during its early stages.
In today’s fast-evolving fashion landscape, Elena Gromova believes that exploring multiple distribution options is essential. She advises fashion entrepreneurs to consider every possible channel that could help their brand grow while keeping a close eye on profit margins. For Elena Gromova, it’s not just about getting the product into the hands of consumers; it’s about making sure the business is profitable and sustainable. She stresses the importance of working with wholesalers and multibrand stores that can be controlled and managed effectively, ensuring that the brand remains in the driver’s seat when it comes to distribution.
Elena Gromova’s Take on Production Strategies One of the most frequent questions Elena Gromova encounters from her clients is about production—where to produce and how to manage stock volumes. These are critical decisions that can make or break a fashion brand, especially in its early stages. Elena Gromova emphasizes the need to go back to the basics: understanding who your customer is and what your market segment looks like. Without this clarity, it’s impossible to make informed decisions about production.
In today’s fashion world, there are more options than ever before when it comes to production. Elena Gromova highlights how brands can launch without any traditional production by using AI or turning to production-on-demand (POD). This is a particularly appealing option for startups looking to minimize risk, as POD eliminates the need for large upfront production runs and reduces the chance of overstocking. However, Elena Gromova also acknowledges that POD comes with its own set of challenges, such as higher production costs compared to large-volume factories in regions like Asia.
For those who prefer a more traditional route, Elena Gromova recommends producing samples and running pre-launch campaigns. This strategy allows brands to gauge demand before committing to full-scale production, making it an excellent financing tool for startups. However, she warns that production timelines must be strictly adhered to, and smaller suppliers or POD factories are often better equipped to handle the demands of startup fashion brands.
Elena Gromova’s production strategy is rooted in careful planning and risk management. She advises brands to first look at the price point when selecting a factory but also to calculate the optimal stock value to ensure profitability. For Elena Gromova, successful production management is all about finding the balance between cost, quality, and risk—ensuring that a brand can grow sustainably without losing money in the process.
The “Death Valley” of Fashion: Elena Gromova’s Reality Check One of the most striking pieces of advice Elena Gromova offers to aspiring fashion entrepreneurs is a reality check on the challenges of building a successful brand. According to Elena Gromova, it can take several years to get through what she calls the “death valley” of fashion—a period where new brands struggle to gain traction and establish a solid foundation. It’s a time of hard work, perseverance, and learning from mistakes. For Elena Gromova, this period is crucial for laying the groundwork for future success.
She openly acknowledges that building a fashion brand is not an easy task, and there will be moments of doubt and frustration. However, Elena Gromova firmly believes that with the right team and professional experts, any brand can make it through this challenging phase and emerge as a global fashion label. Her own experience is a testament to this belief. In 2015, Elena Gromova bravely launched her first fashion brand, a decision that she is thankful for every day. Her journey has been one of learning, growth, and ultimately, success—proof that with determination and the right support, anything is possible.
Elena Gromova’s Vision for the Future of Fashion As the founder of Fashion Business Lab, Elena Gromova continues to empower fashion entrepreneurs by sharing her knowledge and helping them navigate the complexities of the industry. Her approach is rooted in practical, actionable advice that addresses the real challenges faced by fashion brands. Elena Gromova is passionate about helping designers not only survive but thrive in the highly competitive fashion world.
Elena Gromova’s vision for the future of fashion is one where brands are built on solid foundations, with clear strategies for distribution, production, and growth. She believes that the fashion industry is at a critical juncture, where technology and innovation are reshaping how brands operate. Elena Gromova is excited about the possibilities that AI and production-on-demand bring to the table, offering new ways for brands to launch and scale without the traditional barriers of entry.
In addition to embracing new technologies, Elena Gromova remains committed to the core principles that have guided her career: building authentic brands, fostering meaningful relationships, and ensuring long-term sustainability. For Elena Gromova, success in fashion is not just about creating beautiful products; it’s about creating a business that stands the test of time.
Elena Gromova’s Legacy in Fashion Business Elena Gromova’s decade-long journey in the fashion business is one of resilience, innovation, and strategic thinking. From her insights on diversifying distribution channels to her practical advice on production management, Elena Gromova has proven herself to be a leader and mentor in the fashion industry. Her commitment to helping brands navigate the challenges of the “death valley” and her belief in the power of teamwork and expert guidance make her an invaluable resource for fashion entrepreneurs.
As Elena Gromova continues to build her legacy through the Fashion Business Lab, her influence on the fashion world will only continue to grow. Her journey serves as an inspiring reminder that success in fashion is not about luck or shortcuts—it’s about hard work, careful planning, and the courage to keep moving forward. With Elena Gromova at the helm, the future of fashion is in good hands.
