Lola Ramona - shoes with attitude
Gitte Sandquist loves to stand tall. “I can wear 10cm heels all day without any discomfort,” assures the Danish dynamo whose label Lola Ramona effortlessly lives up to its catchline, Shoes with an Attitude.Stripes, dots and bows; the licorice-all-sorts palette and aura of vintage romance – it’s impossible to ignore those eye-catching confections.The Copenhagen-based label is bound to exert its traffic-stopping impact at Fashion Exposed NOW. Since its launch in 2006, Lola Ramona has won devotees worldwide and they are spoiled for choice – loads of heels, flats and boots, plus equally arresting handbags.Frustration was her catalyst, explains Gitte. “I couldn’t find shoes I liked – good-quality ones that weren’t boring – so I decided to create my own.“I was still working as an agent for several international companies when I started Lola Ramona, so when our designer Christina Hanquist joined me nine years ago, we’d get together at my studio around 5pm and work into the night.
“My husband (goldsmith Erik Sandquist) was great. While Christina and I were working, he’d cook dishes like chili con carne for us.”An early partnership with long-established Danish footwear company Sanita promised great things, but the Global Financial Crisis dealt a punishing blow and Gitte decided to go it alone. .“It was a terrible time and affected even Denmark’s major banks, but luckily Lola Ramona survived and we’ve done well in recent years, especially since we opened our own factory in China,” she says.“Using different factories for small orders is always a hassle, so it’s great to have control. A fantastic woman runs the factory. I call her my soulmate.”Quality leathers, pampered comfort (“we add an extra layer of padding”) and striking detail on heels and insoles are among Lola Ramona’s key footwear features. So are the whimsical names that identify the designs.There’s canny reasoning behind Elsie Strut, Stella Lollipop, Cecilia Spats and Co. “I got the naming idea from Levi’s,” confesses Gitte. “Consumers know exactly how say, a pair of Levi’s 501 jeans look and feel, and that sort of instant recognition is important with footwear, especially when you’re buying online.
”I used a different process for our brand name. I wanted something that sounded like a real girl and could be pronounced in all languages. That’s how Lola Ramona was born. She’s feminine and distinctive.”Years of experience gained through working with giants such as Sweden’s H &M and America’s Levi Strauss, and later as an independent agent representing international brands including Lacoste, Paul Smith and Caterpillar, have served Gitte well since she founded Lola Ramona.Family members have also made valuable contributions and not just through their cooking skills. “My 93-year-old grandmother has a basement full of wonderful stuff she’s kept for decades and I have lots of fun digging around in it. Great for inspiration!”A small retail store attached to her office in Copenhagen is Gitte’s only concession to bricks and mortar. The real action happens on Lola Ramona’s award-winning online store and new product lines may soon be enjoying that global reach.“Not clothes, but accessories such as gloves, hats and scarves,” reveals Gitte Sandquist. “The problem is finding the time to develop them. Right now we’re so busy, things are just crazy, but I’m not complaining.”To find out more about Lola Ramona, please contact Judy Williams, Australian & New Zealand distributor at cast.away@xtra.co.nz
Need financing? Read this first
With the vast range of business loans and business cashflow products available to SME's these days, obtaining extra funds to pay for the day to day costs of your fashion business or additional cash to finance growth is less of a headache than it was a few decades ago.The type of finance you chose will depend on your business and what would best suit your business' needs. The biggest challenge is not the process of filling out an application and sitting down with your bank manager or finance provider but actually arriving at a decision.There are infinite loan and finance options available for businesses and it can be a bit daunting when trying to translate the finance jargon to make a significant decision for the benefit of your business.When choosing your business financial solution, it's vital to keep in mind that most lenders will have a number of terms and conditions as part of the loan. However, with some research and careful planning you can avoid a few of the traps that catch out unwary business owners.Not so candidIf you decide to go down the path of using a broker, then you should watch out for brokers that demand up-front fees before your business loan is secured. These brokers are looking for a quick sale and extra cash through your payment of their service fees. In fact they can charge you hefty amounts without securing your business loan at all. You would shop around to find the best fabric supplier for your fashion line, finding a broker that is cluey about business finance is worth some comparative consideration also. When you're conducting this search it's important not to feel pressured; find a broker that is prepared to listen to you and answer ALL your questions.When the honeymoon's overThe allure of a sale sign outside a clothing store can be enticing to customers and can help drive more store traffic. Some finance lenders will adopt the same principle and promote a low introductory or honeymoon interest rate to help entice borrowers. Whilst the low interest rate on the big sign in the window looks attractive, it's the small print of the terms and conditions and the cost of the loan when the interest rate reverts to the standard rate that should draw your attention. There's almost always a catch too, so there are typically some restrictive options as part of the deal - offering business borrowers little flexibility or incurring penalty fees if their circumstances change.Cheap at twice the priceThe features of a loan are just as significant as the interest rate. It's essential to know exactly what is included in a loan's terms and conditions and how fees will be structured over the life of the loan. If you're unsure, you should ask your lender to explain the finer points. For additional peace of mind, you should talk to your solicitor or accountant. There may be a fee for their advice; you could save thousands in unknown fees and interest over the course of your loan. Think of taking out a business loan as you would about making a major purchase for your fashion company that contributes to the success of your business.Administration feesAdministration fees can pop up unexpectedly, often at the end of the application process, so read every loan contract thoroughly so you understand what the entire cost of the loan is before signing on the dotted line. Incidental fees for transactions, delayed or early repayments, monthly statements and account keeping fees can all add up to increase the total amount owed.Breakin' up is hard to doIf you've agreed to a fixed-term or a fixed-rate with a lender, you'll find that early repayment or break fees are normally applied. If you do need to break the loan's terms or repay it earlier than previously agreed, most probably you'll unfortunately be faced with a fee.So be sure to ask about the terms and conditions before signing up for a loan, as well as what kind of penalty you may have to pay if you do want to pay it out early. Saying this it would be worthwhile considering whether the cost of maintaining the loan to its full term actually outweighs the cost of the penalty fee before breaking the term.Don't despair. With so much choice finding the right loan for your business is fairly simple as long as you are willing to shop around and do some research. Just remember: take time to consider all your options, don't be afraid to ask questions, and always read the small print.
How to grow profit - not just sales
Many growing clothing businesses are perplexed by ever shrinking profits.Despite steadily rising sales and good customer retention, profits are inching down towards zero.In every business costs rise each year, whether its rent, wages or stock purchases, they all become slightly more expensive.Annual cost increases of just 3% can quickly erode otherwise healthy profits from your business.It's often the case that we focus on sustaining sales and achieving growth, but many businesses can receive an unwelcome surprise when they find that these have been achieved, but profits have actually evaporated.So how can you keep your profits and even grow them? Here are some useful tips to consider:Increase your prices: No one likes to do it, for fear of a customer revolt. But the bottom line is, if you haven't raised your prices in the past year, you've actually decreased them in real terms. Most customers won't notice a price increase of 5% and the ones that complain are probably already doing so at the current levels.Up sell: A successful fashion business is about creating the whole fashion experience. Consider what other complementary products you can package with your existing range, as many accessories have profit margins well above those of traditional clothing items.Tell the world: Customers only buy items they know you stock and can be quick to pigeon hole you as a seller of just the products they've previously purchased. Broaden your customer's knowledge of your products, by keeping them up-to-date on your entire range and let them know of new products as they arrive.Fact and figures: It's a golden rule in business management to have a reliable Watch The Pennies: Whether it be the phone bill, printing or bank charges creeping up, keep an eye on increases in your businesses more basic costs. It's good to hammer out the best price on major purchases, but a small investment in ongoing bills such as your phone will also save you substantial amounts in the long run.Debt and equity: Two of the most common reasons that businesses have insufficient financial returns are excesses of both shareholder drawings and loan borrowing costs. The two go hand in hand, as businesses commonly borrow to replace equity that's been withdrawn by shareholders. Every shareholder deserves the fruits of their investment and labour. But it would be wise to postpone the plans for a new car or bigger house until you're sure the business can afford it, and any associated interest costs that may now be necessaryMaximising profits is a lot easier than launching new fashion lines or founding a successful fashion company, so take the time to manage profits and you'll be rewarded with the dividends.