Marketing agency NONZēRO has partnered with Standard Bank to create the Business of Fashion accelerator program titled,“Threads – stitched by Standard Bank”:
“Standard Bank is fully committed to driving sustainable, long-term growth on the continent. Our support of the Threads programme forms part of our greater vision, encouraging inclusive economic development for entrepreneurs across South Africa with the aim of creating positivity and prosperity for all in Africa – now and in the future. We look forward to the programme and the positive growth that is sure to come from it”, says Jayshree Naidoo, Head of the Standard Bank Incubator.
“What we’re looking to do is support the entrepreneurs’ creativity with the crucial business know-how, mentorship and support that’ll propel the business to the point where they’re experiencing real growth, and running like professional outfits. The partnership with Standard Bank is a key to delivering on this goal.”
In order to supplement the programme with an academic backbone, the team partnered with the e4 Impact Foundation, an initiative of the Universita Cattolico of Milan focussing on impact entrepreneurship.
Reports say, the global Fashion industry today is worth 3 trillion USD however, Sub-Sahara Africa accounts for only 1% of that.A staggering statistic, considering that the apparel and textile industry has the potential both to create jobs and contribute to a country’s economy. In today’s digital world, consumers worldwide are eager to discover products from afar – in this regard, fashion is a powerful brand builder for a country interested in exporting their cultural capital.
Of all the potential obstacles to growing this
market in South Africa, it seems creative talent and exposure are the least of
what hinders upcoming fashion brands from thriving on the international scene,
access to finance even less. There is a definite need for teaching the business
of fashion – fashion entrepreneurs need to be supported in professionalizing
their enterprises and running a truly profitable business.
There is real opportunity to take South
Africa’s up-and-coming fashion designers and turn them into powerful fashion
CEO’s. Given the appropriate support, these fashion entrepreneurs could be
running profitable businesses capable of competing on the international apparel
scene, creating jobs, and having an impact on the South African economy.
How the program works
The program will consist of a 12-week curriculum
that focuses on the business operations of a fashion enterprise. From financing
and retaining employees, to lean manufacturing and eCommerce, as well as
specialized procurement methods and marketing.
The programme is open to all fashion
entrepreneurs with existing business operating in South Africa, and is taught
simultaneously from four regional classroom hubs: Cape Town, Johannesburg,
Durban and Port Elizabeth. The programme takes place two evenings per week for
a 12-week duration. The participants will also be taken on action learning
field trips across South Africa designed to showcase best practices’ across the
country in various fields.
“It was important for us to see a strong
tangible impact made from this programme, that’s why a trade trip to Europe was
organized and why we decided to take it one step further, and work with
industry experts for all of the individual modules of the course” explains
Tania Habimana, co-founder of Threads program and Head of Content &
Digital, NONZēRO.
Working together with the Standard Bank
Incubator and a strong eco-system of partners in business (including
Mercedes-Benz), government and civil society, the programme calls upon the
expertise of some of South Africa’s top business minds and thought leaders as
programme teachers. The programme uses real-life case studies and experiential
learning exercises to reinforce the academic learnership of the programme with
practical industry insights.
Prizes
At the end of the programme, the participants
will be invited to present their new business model in a business case
presentation to a panel of judges, and the winner will be taken on
an international trade trip to Europe. The key focus of this trade trip is a meeting
with a high-impact private distribution network enabling the participant to
liaise with and present their business/products to wholesale buyers and
retailers, as well as attending trade fairs.
The winner will also receive an SME
start-up pack courtesy of Standard Bank, a Mercedes Benz brand
ambassadorship and drive the brand new vehicle for a 12 month period; as well as
benefit from continued mentorship by the Threads team.
Eligibility
The program is open to entrepreneurs with an existing business in operation in South Africa for at least one year).
Eligibility
The program is open to entrepreneurs with an existing business in operation in South Africa for at least one year).
How to be part of the Threads program