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Abstract
This article focuses on entrepreneurship in the fashion industry in Singapore, especially in the business of apparel fashion designing and retailing. The objective of this article is to examine the factors that contribute to the success of fashion entrepreneurship in Singapore. It considers the support given to the fashion entrepreneur, the fashion schools in Singapore, the difficulties encountered in starting and running such a business, and the success factors in fashion entrepreneurship. The article concludes that the limited domestic market and lack of capital are the major difficulties designers encounter in starting a fashion business in Singapore. However, support by the Singapore government and the fashion schools has increased over the years. Talent, availability of capital and hard work seem to be the deciding factors that determine the success of a fashion business.
Keywords: Fashion Entrepreneurship, Singapore
Introduction
Fashion business includes all the industries and services connected with fashion: design, manufacturing, distribution, retailing, advertising, publishing and consulting; in other words, any business concerned with fashion goods or services (Stone, 1990). In a narrower sense, fashion business deals with the business engaged in designing and retailing, that is, selling the finished products to the consumers.
Fashion can be viewed as an art or a science. It is an art because so much creativity is required in its products. Unlike most other businesses where conformity is the norm, fashion nurtures innovation and creativity in those who have chosen to work in this industry to help bring out the culture of people. Fashion is also a science because modem fashion manufacturing requires technology to be mass productive. Almost all stages of clothing from design to delivery depend on technology.
Although fashion is a highly personal business, it is still a public business. Clothing design has always been about the designer's ideas. However, one cannot examine the personal element in fashion without also considering the customer because the making of clothes is very much a public business. The fashion business must always cater to the mass market, which is growing in expectations.
Fashion Entrepreneurship in Singapore
Singapore produced its first local design a decade ago. At that time, local design was relatively unknown to the public who preferred imported merchandise or tailored fashion wear. Since the...