THE FUTURE OF FASHION IS FRACTIONAL
01.22.24 | APRIL UCHITEL
Fashion has always been a robust but mercurial industry, impacted by a myriad of exterior shifts/factors ranging from store consolidations, the pendulum swing to D2C, the rise (and more rise!) of influencers and social commerce, volatile sales cycles, and the very nature of customer behavior constantly shifting with the currents of culture and phenomenon day by day.
While each brand is a unique story—a mood or theme that changes by the season—there’s an equally robust infrastructure required to not only produce high-quality products (that can occasionally move or adapt at the speed of tik-tok) but to also sustain it. Companies face ongoing challenges in adjusting to new platforms, technologies, evolving trends, and innovative work methods, often exacerbated by small teams stretched even thinner, or larger teams that struggle to maintain agility.
I’ve worked with hundreds of brands throughout my 30+ year career (DVF, Spring, CEO OF Violet Grey), actively engaging in networking, advisory roles, and mentorship (including a substantial tenure with the CFDA Incubator), and saw these pain points first-hand. As a CEO, I too struggled to ride the constant waves of change, regularly challenged by talent gaps or budget constraints, longing for support I knew I needed to succeed, but was hard pressed to find quickly (and affordably) enough to evolve the organization at the rate of which things were changing.
I often imagined being able to access a dream “swat team” of Senior and C-Level experts across all business functions, precisely tailored to my immediate needs—and literally, the smartest and most experienced people in the room.. To be able to tap deep, specialized skills for strategy, business modeling, M&A prep, internal brand books, international expansion plans, creative, storytelling roadmaps, premium partnerships and collaborations, marketing tactics, seasoned operational support, objective team reorgs or culture challenges, guidance on emerging technologies, new social platforms, or….simply backfilling an open role!
In 2020, I also began to observe a potent shift in the employee lifecycle. Countless peers were exiting corporate structures in search of greater fulfillment and flexibility, and a deep desire to contribute their skills to multiple ventures. This phenomenon – widely recognized as the fractional economy – denotes a strategic approach where seasoned professionals offer their expertise on a part-time basis, providing companies access to experienced talent at a fraction of the cost.
Upon exiting my CEO role, I, too, embraced this evolving work paradigm, and quickly recognized an opportunity to engage my extensive network and create a new platform designed to connect top-tier vetted talent with the brands seeking their expertise. Enter THE BOARD.
My SWAT TEAM DREAM became a reality.
Through this curated collective, brands are matched with 1:1 talent, or a bespoke DREAM TEAM, all bringing their valuable experience and extensive networks to help tackle challenges and meet business goals. These vetted executives and creative leaders are forward-thinking, outcome oriented, generous, and agile. They are defined not only by their impressive prior accomplishments (Members hail from executive roles at Net-A-Porter, Jimmy Choo, Ralph Lauren, LVMH, Amazon, Chanel, FARFETCH, Refinery 29, VOGUE, JCREW, CALVIN KLEIN, Burberry, GOOP, GUCCI, Fendi, Barneys, Nordstroms, GOOGLE, Kate Spade, Warby Parker, Patagonia, Nike, & Target…to name a few), but by a collaborative spirit, high integrity, and openness. All having intentionally stepped away from unproductive corporate politics to focus on impact, leaving their egos at the door.
While the concept of outsourcing talent is not new, today’s evolving work culture, changing customer demands, and rapid pace of innovation necessitate that brands continuously reimagine internal talent and organizational structures. Teams are leaner than ever and fractional talent can more readily plug knowledge and organizational gaps, while providing new perspectives, objectivity, and specialized skills not covered by existing teams. *AI anyone?
The fashion industry will always operate in a dynamic and fast-paced manner, relying on continuous growth and evolution to avoid stagnation. Therefore leadership will always be navigating evolving landscapes, cultural trends, innovations, and challenges, and now, they no longer need to go it alone.
THE BOARD is your Board of Experts – fashion’s destination for top-tier talent. Having walked in your shoes, we understand your challenges firsthand, and are eager to actively contribute to your ongoing growth and business transformation.
#wearetheboard
