After the fourth edition of Fashion for Peace in November 2012, FAFA did a rethink on how to build the fashion industry in Kenya.
Aware that there was a blossoming crop of young designers all destined to become self employed fashion entrepreneurs, FAFA realized that most didn’t have relevant business training. Coupled with that there were few if any available statistics to help fashion entrepreneurs focus their energies on cash generating activities.
FAFA then decided to look for strategic partners to help generate a better business environment for local fashion development. Commercial Bank of Africa (CBA) was naturally the best fit for FAFA to partner with because CBA offers banking solutions that are tailored to suit the needs of Small & Medium Enterprise (SME) customers, who are seeking to grow their business. Not only does CBA provide a dedicated relationship management approach, the bank offers speedy and flexible term and working capital loans to support the growth objectives of the customers.
The business development activities of FAFA with CBA include the emerging designer competition “FAFA Insight” which is an open competition for designers and models and “Business of Fashion” which is a series of lectures followed by discussion groups on how to make fashion a sustainable business. Captains of industry speak and challenge designers to look at their business models from different angles.
Other areas of business collaboration include market research with FAFA and KikoRomeo partnering with IPSOS to collect data, which enables designers to focus their retail energies. IPSOS will continue this research at FAFA on 31 May with a survey about online shopping habits of Kenyans. Silvia Tonui, CEO of FAFA said “Market research is essential for fashion entrepreneurs to create successful business models. Currently they operate on gut instinct and hearsay, but concrete data is necessary to build the industry in line with consumer demands”.
A further business partnership was developed late 2013 between DHL Kenya and FAFA. Internationally DHL sponsors many major fashion weeks. Although new to fashion collaborations in Kenya, DHL agreed to come in as the Official Logistics Sponsor, with free shipping to international markets.
As more and more international fast fashion brands eye retail in Kenya, it is becoming increasingly important for Kenyan fashion houses to set up solid business models, so as not to lose market share when the international brands open shop. Referring to multiple bankruptcies of known designer names in South Africa Ann McCreath said “We have to take our brands to the international high streets, notably in London and New York, where Kenyans shop. When Kenyans see one of their own selling internationally, they think it is a brand they should treasure. If we just stay in our local market, we risk being pushed out of business by the craze of fast fashion”.
FAFA is fast becoming a leading Fashion Marketing Company with a strong vision on developing the fashion industry in Kenya. Tapping into the experience of seasoned designers as well as the energy of upcoming talented youth, they are set to redefine the fashion landscape.
