Everything you need to know about Hula Global’s Fashion Accelerator Program
In the fiercely competitive world of fashion, the journey from concept to market can be a daunting challenge. But don’t worry, our Accelerator Program is here to empower fashion brands and entrepreneurs with a comprehensive, feature-rich solution – all under one-roof.
Whether you’re just starting or looking to take your brand to new heights, the Accelerator Plan offers the support you need.
In this post, we will provide all the information you would need to know about our accelerator program. Let us start with the basics.
Who is the right candidate for the accelerator program?
Our Accelerator program is useful and it can benefit a range of entrepreneurs and fashion brands at different stages of their development. Here are the 13 different types of entrepreneurs and businesses that can find this program particularly useful:
- Fashion Startups: Entrepreneurs launching a new fashion brand can leverage Hula Global’s accelerator program to kickstart their product development, streamline logistics, and gain valuable support.
- Emerging Designers: Individuals with a passion for fashion and unique design ideas can receive expert guidance and resources to transform their creative concepts into market-ready products.
- Entrepreneurs with Limited In-House Resources: Businesses with limited in-house resources for product development, inventory management, or international expansion can fill these gaps through the program’s offerings. Our team at Hula Global becomes your extended team and you get dedicated support necessary to scale your brand.
- Legacy Brands : If you have been running a fashion brand for several years in an offline or wholesale manner but you want more control and a digital expansion – then our accelerator program is a perfect match for your business needs.
- Small Business: Established small business seeking to scale their operation, expand into new markets, or optimize their inventory management can benefit from the program’s diverse features.
- E-commerce Entrepreneurs: Entrepreneurs running e-commerce businesses can take advantage of the support for platforms like Amazon FBA and Shopify, enabling them to boost their online presence.
- Fashion Innovators: Entrepreneurs with innovative fashion concepts, whether in terms of design, materials, or production, can tap into the program’s resources to bring their unique ideas to life.
- Global Expansion Aspirants: Hula Global is truly global and brands that aspire to enter international markets should definitely aim to use the program’s global expansion features to navigate the complexities of going global.
- Inventory Management Challenges: Businesses struggling with inventory planning, liquidation, and financing can benefit from the program’s solutions to optimize their inventory management.
- Entrepreneurs with Limited Industry Knowledge: Individuals with limited experience in the fashion industry can rely on the program’s expertise to guide them through the intricacies of fashion product development and management.
- Entrepreneurs in Need of Strategic Guidance: Entrepreneurs looking for strategic direction and executive-level support can access CXO expertise through the program, helping them make informed decisions for their brand.
- Brands Focused on Market Research and Testing: Brands that prioritize data-driven decisions, market research, and A/B testing can find value in the program’s market research and testing features.
- Brands with a Mix of Product Offerings: Fashion brands offering a mix of products, from clothing to accessories, can streamline their operations and logistics with the program’s door-to-door pricing and marketplace management options.
Let us look at what are the different plans being offered and understand how each plan differs from the others
Let’s say that you are just starting a fashion brand and you want to take baby steps but you are tired of white labelling other’s product. You want a good product and your customers should be able to recollect your brand with a positive brand experience, then – the Starter plan is the perfect plan for you.
In this plan, your entire product development is included. You get a fashion designer and a product developer assigned to you to oversee the product development that includes tech pack, fabric swatches, sizes and fittings and you get an account manager who is a SPOC (Single Point Of Contact) so that you don’t run around and chase different stakeholders. The objective of this plan is to “Launch” your collection – with strong foundation upon which you can build your brand.
Unlike our Quick Launch program, this is program requires a deeper commitment because you and our team are going to be spending tinkering around with every little aspect from fabrics to design to sizes to tech packs to trims, hang tags and packaging – everything that makes or breaks your brand. At the end of the program, you will have production ready files, tech packs and every other little detail of your product development well documented so that you can have a very tight control on your brand’s product development. In our experience, many brands that do Quick Launch, whether with us or otherwise – end up doing the product development once again from scratch because after they launch their brand and get product feedback, only then they start giving importance to product development.
If you are a creator who truly cares about your community and the product – this is the right plan to start with.
Before we talk more about our programs, if you want to compare each program and features along with their pricing, it is recommended that you review and compare all the pricing plans.
Growth Plan is for brands that have already launched or those who are in process of launching multiple collections or drops in a year. Everything in the starter plan is already included in the growth plan but you also get support on a very clear merchandising plan and you also get eligible for inventory financing up to $1mm after the initial wait period of 2 years. You also get optimisation support for your Shopify and Amazon FBA store in this plan.
One of the most important feature of this plan is Door-to-Door pricing. If your brand is in this plan, you know the landed cost. Period. You don’t need to go through different hoops and bounds to calculate duties, freight, CHA charges etc.
This is slightly deeper commitment and requires a lock-in period of 6 months.
This plan is ideal for a brand doing $1mm in top line and struggling with costs and other operational challenges. Everything that is part of Starter and Growth plan is already included in this plan and some more.
What are those some more?
Fashion Designer – You get a dedicated Senior Fashion designer and someone from the leadership team handling your account.
You also get a very cool feature – A/B Testing that we will talk later.
In terms of inventory financing, you get up to $5mm USD in inventory financing post successful completion of 1 year of waiting period. We manage your Shopify Store and Amazon FBA when you are in this plan and we also take care of your Wholesale businesses in addition to your D2C business. In this plan, we go a step further and also incorporate a liquidation plan so that at the end of your season, you are not sitting on a pile of dead inventory.
This plan comes with Hula Global Assurance and super priority support.
A/B Testing is a unique feature that is part of the premium plan for Accelerator brands and available as an add-on for brands under Growth Plan. Like in e-commerce we don’t assume feature X will be more popular than Feature Y – similarly in fashion, we take the guess work out using A/B Testing.
We modularize the entire product development in such a way that we can “test” what styles will work which will not work and then quickly double down on the winning styles in-season. It may seem obvious and simple but A/B testing for physical products – “in season” is very a challenging tasks and only a very few handful of fashion brands (Shein, Zara) are able to execute this successfully.
Our A/B testing program is not in the same scale as Shein or Zara but it works in the range where we operate and it works perfectly for the accelerator brands
You can find some answers to frequently asked questions on Product Development
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