ken wengrod
What Does the CIT Bankruptcy Mean for Indie Designers?
The short answer is…it depends.
If your business has been fortunate enough to do a 1/2 million dollars in sales each year, then you may want to consider another factor for financing your accounts receivables. However, if your line is relatively new and working with smaller accounts, then financing could be a little harder to find.
However, there may still be resources available to help you. Here are some tips:
1) Start Local! Check into an SBA chapter in your local community. These offices are 50% funded by the federal government and 50% funded by the local governments to help stimulate economic growth. [...]
6 Tips Toward Success in Fashion Design
Last week, we introduced you to Ken Wengrod the President of FTC, a fashion financing company in Los Angeles that works with contemporary brands such as William Rast/Justin Timberlake, 291 from Venice, Society For Rational Dress, Black Orchid, J. Lindeberg and Sally Hershberger (hair care products).
Our interview was full of such great info that we had to break it up into two posts. Last week Ken shared his thoughts on financing in today’s world of fashion design. (Click here for the full article). In addition to his experience in the start-up and management of large factoring companies, apparel companies and [...]
The New Economy in Luxury Fashion
We are doing our best to keep up on fashion news…specifically as it relates to your pocketbook! But the news hasn’t changed much lately. High-end fashion is adapting to the economic climate in ways it hasn’t before! The avant-garde looks on the runway five years ago were pieces of art that the rich and fashion-forward could occasionally indulge in. But today, they are overshadowed by the simple cross-seasonal designs that the high-end market is playing to. This recent article from the Associated Press describes how a member of the Spring 2010 audience at NY Fashion Week might have just as [...]
More Troubling Financial News- or is it?
Ken Wengrod of FTC, an L.A.-based factor for fashion design, has joined us again to brief us on new news and his perspective as it relates to retail, manufacturing and new designs. At first glance, I have to say the news didn’t look good for new designers. Even though your line may not belong in Wal-Mart, they could be setting a precedent for other retailers. However, down the road Ken sees real opportunity for new labels that can show quality and a fresh perspective.
Click here to read the London Financial Times article.
Now here’s what Ken had to say,
After reading the [...]
Financial Unrest in Fashion & What it Means for You!
Recently, LDB invited Ken Wengrod of FTC to talk with us about financing in the fashion industry. Just days after we published our interview with him, a press release was issued acknowledging the possibility of CIT (the main factor behind the fashion industry) approaching bankruptcy. This not only affects designers needing financing, but it also could have severe ramifications for boutiques and even photographers, stylists and consumers.
Ken followed the news by contributing to this article, originally published in Apparel News. So before you throw in the towel on your fashion aspirations, read this. Here Ken discusses the possible positive side [...]
Financing your line…From the Experts
At a recent fashion event in L.A., I met Ken Wengrod the President and Owner of FTC Commercial Corp., a financier of leading contemporary fashion designers. Some of the brands who have chosen to work with FTC include William Rast/Justin Timberlake, 291 from Venice, Society For Rational Dress, Black Orchid, J. Lindeberg and Sally Hershberger (hair care products).
To break it down for us, I asked Ken some pretty direct questions about the services he provides and more importantly…is there financing available for designers today? Here is a little bit of my interview with him. (Note: This is just the first [...]
