As a lover of fashion and shopper extraordinaire, the chances are you’re good at spotting trends, capable of judging a label’s popularity and performance, and have a keen eye for a bargain. Investing in the fashion industry, therefore, may feel like a natural step forward. After all, aren’t we all looking for new ways to make money on the things we love?
There are a number of ways that you can invest in both big and small labels, such as buying stocks and shares, purchasing classic items that you know will appreciate in value – such as vintage pieces from famous labels or contemporary classics that will age well – or investing a lump sum of money into a start-up company. With so many options to choose from, where do you start? Of course, the way in which you invest will be largely affected by your budget. A smaller amount to spend, for example, will perhaps limit you to buying a handful of shares or a smaller item of clothing or an accessory, while being able to access a larger pot of money will stand you in good stead for being able to support a fashion label a little more comfortably. Whatever you decide, there are a number of things you will need to think carefully about.
Where do I go now?
For starters, there’s the aforementioned budget. Think about how much you can afford to spend and then, just to be sure, ask yourself if you really can afford that much. Investments are supposed to be a way of looking to the future, rather than looking over your shoulder at your credit history, so be sure that you really do have the money to spend. When it comes to making that important purchase, don’t just plump for the first sweater, handbag or pair of shoes that you see. Ask yourself, will the item hold its value? Is the label renowned for items that appreciate in value? Is it a big label that fashion lovers buy into? Shop around, do your research and, when in doubt, put the credit card away. If you’re considering offering a cash investment to a company, it’s essential to know exactly where you stand; don’t sign on that dotted line until terms and conditions have been discussed or before you truly understand the risks involved. Despite how wonderful the fashion industry may seem from the outside, it isn’t without its problems, and you must make sure you’re aware of everything that could go wrong before you decide to plough ahead with an investment.
Of course, if you’re ever in doubt, there is always the option of turning to an investment expert or specialist company for advice. After all, their business is investment, and they’ll be keen to see you make the right choices from the start. Take the Fortress Investment Group; founded in 1998, the group has continued to see an increase in its assets and is able to offer a wealth of advice to anybody thinking about making an investment, no matter how big or small that may be. Perhaps the most reassuring thing about asking an expert for their opinion and guidance, though, is that you know they really do know what they’re talking about. Peter Briger, the Principal and Co-Chairman for the Board of Directors at the Fortress Investment Group, has a long history of working in the investment industry, previously serving as a partner at Goldman, Sachs & Co. He also received a degree from Princeton University and an MBA from Wharton School of business. The LinkedIn profile of Peter Briger reveals an impressive list of attributes that will help you to begin your investment adventure.
Whether your budget allows for a single yet lucrative purchase, buying stocks and shares in your favorite label, or donating a lump sum to help a start-up get off the ground, investing in the fashion industry is one of the fastest growing ways for big label lovers and fashionistas to indulge their passions. If you feel that investment is really for you, be sure to conduct your research, think carefully about the risks involved, and always seek an expert’s advice. We wish you every success in your profitable future as an investor!