Business
Fashion industry legend Walter Wilhelm joins Ram Sareen to discuss how the evolution of technology has enabled industry newcomers to start businesses with no baggage. Technology is a must for businesses who wish to operate local, on-demand, made to order, microfactories, or other agile manufacturing models.Tukatalks is the show where fashion industry experts share what NOT to do. If you found something in this conversation insightful, click the share button and send it to a friend!EPISODE LINKS:WWA Advisors' Website: https://wwaadvisors.com/Ram Sareen's LinkedIn: https://www.linkedin.com/in/tukatech/Ram Sareen's Twitter: https://twitter.com/RamKSareen1OUTLINE:00:00 - Welcome to Tukatalks!00:28 - Introduction to Walter Wilhelm03:17 - The early technology was not very easy to use and expensive06:22 - Now young people can use technology with little training08:09 - The pandemic forced apparel businesses to think locally09:51 - 3D software and soft body forms help fashion companies achieve good fit15:07 - Garment companies are too afraid to be the first to try new technology17:29 - Japanese company Asahi was the first to prove the concept of 3D fitting and sampling in the mid-1980s19:10 - Shima Seiki is a tech pioneer and wants people to experience Japanese cutlure when they did business together22:06 - Focus on demand manufacturing, with no samples and no inventory27:25 - A lot of new made-to-order clothes businesses are started by people who have no experience in fashion30:31 - Garment companies pray that the numbers will add up at the end of the year31:32 - "Microfactory" doesn't mean small, and it's happening now33:10 - The three tiers of fashion goods36:14 - Everyone knows they get the lowest price from Walmart and Amazon38:00 - Why do brands buy in a 12321 ratio?41:21 - Why try on mirrors fail as a fitting solution43:46 - Tesla's direct to consumer model should be an inspiration to fashion brands and retailers 47:54 - In 2018 Ram Sareen predicted that by 2023 the industry would produce 40% fewer garments49:22 - Walter Wilhelm's parting wisdom for companies getting back into local manufacturing51:41 - Thank you Walter Wilhelm for sharing what not to do!