“For many years, the business of fashion in Kenya has been underestimated and overlooked largely in part because this sector has been difficult to quantify. Most Kenyans often times hold on to old beliefs and attitudes when it comes to clothes manufactured locally. The wealthy shop abroad while the not so fortunate prefer second hand clothes to locally designed garments available in the market.
It is also very difficult to objectively measure how much someone earns or saves, through this business because many still rely on putting money ‘under the mattress’ which often leads to many things being undeclared (taxes) and unrecorded (income) simply because of lack of knowledge when it comes to record keeping .
The truth remains that sales are robust and the market appetite is growing for locally designed garments and designers have come to the realization that as in any business financial literacy is key to the sustainability and scalability of the enterprise.
The fashion industry is looking bright and promising, with fashion designers such as Ann McCreath, creator of fashion label Kiko Romeo and founder of FAFA partnering with Commercial Bank of Africa through an annual sponsorship of three million shillings to facilitate the Business of Fashion workshops, a bold advancement for the Kenyan fashion industry. They aim to provide a world-class platform for entrepreneurs to gain a multi-faceted understanding of the full cycle of a business. These workshops are about harnessing Kenyan talent for economic empowerment and sustainable growth, to enable Kenyan brands to compete both locally and internationally. . .”
Citizen News has the full story.