Fashion retailer Karen Rieschieck will be a speaker at the Fashion Exposed Business Seminar. Here, Melinda Oliver profiles her multi-brand boutique Alice Euphemia.
Karen Rieschieck has a dream. It is to see the classic twice-yearly fashion delivery cycle replaced with smaller, more frequent drops of designer collections into boutiques. She believes this will free up the “frantic bursts” of demand on local pattern makers and machinists and help product hit stores on time.
“Rather than having these six-month cycles when everyone is under high pressure and stress, do things in a four-week period, have that be consistent, rather than one winter and two summers,” she says.
As the owner of 14-year-old mixed label boutique Alice Euphemia, this issue is pertinent, as Rieschieck works with around 40 suppliers on the strict condition that their apparel is manufactured domestically.
“With the size of the labels I deal with, delivery dates could be eight weeks late,” she says. “When you work on a small scale you can be flexible but not when you want to grow and become something else.”
In addition, she would like to see the typical 30-day payment terms for product reviewed, as it can prove an unrealistic time frame for some boutiques. “If you buy six months worth of product and have one month to sell it to raise the income to pay suppliers, you may not be able to cover the cost of goods.”
This issue is made significantly worse when sales are below expectations, or when discount season kicks in. “Some suppliers are creating competition for their stores with online retail and discounting current season stock,” she says. “This is bad form and those suppliers must be prepared to lose their retail supporters.”
Despite this tough analysis, Rieschieck's love of fashion and creativity has prevailed to ensure her Flinders Lane location has become a Melbourne retail icon. The pink-signed store has a whimsical, quirky feel, with brands such as Romance Was Born, Ellery, Tina Kalivas, Beat Poet, Arnsdorf, Karla Spetic and Friedrich Gray gracing the racks.
Over the years, there have been five different incarnations of Alice Euphemia, she says. These include inhabiting four locations along Flinders Lane and once running a second site in Gertrude Street, Fitzroy. "I've had two stores, twice. But because of the way my business was run it was difficult to have that personal boutique approach.”
Rieschieck is now in a position where she has stepped back from day to day operations and is taking a more strategic role in the business. She is now considering re-launching a second venture and an e-commerce operation.
Whilst not confirming when this will go live, she says she will approach it with the same unconventional vision as her physical store.
Following the global financial crisis, Rieschieck has witnessed an increase in desire among young designers to learn business fundamentals in addition to their design skills.
“There is a real acceptance and understanding that to have a business in the long term you do have to grow with these things, rather than fighting against them – such as saying I don’t like bookwork or admin,” she says.
She encourages brands wanting to boost their boutique presence to listen to their retailer buyers and work in tandem to create products that have the best potential to sell.
“[Designers should] be unique and honest in design – not copy cats,” she says. “Be lovely to deal with, incredibly accommodating and have a strong business sense so that we know they will be around for a long time.”
Creating a buzz around Alice Euphemia and supporting the brands it stocks has been a key focus over the years, with Rieschieck keen to communicate the story behind each label to customers.
The social networking phenomenon has been an ideal outlet for this, with Facebook, blogging and email campaigns all part of the store's marketing strategy. Creating a social experience for staff, suppliers and shoppers is something she feels benefits the business.
“We always have some sort of event or party happening,” she says. “It creates an identity for your store. My whole reason for being in a business like this is that I really appreciate working with creative people.”
Spirited visual merchandising displays also help to attract new customers, which are often compiled by a guest designer or artist.
“We don’t have a structured merchandising plan, but a desire to change and evolve. We have had so many different events and so many different people do our windows so there is always a different look.
“I’m a customer too and I want the same things I’ve always wanted. To be delighted and informed and to be a part of something creative and worthwhile. Fashion can be all those things.”
Karen Rieschieck will be presenting a seminar on sustainable retail at Fashion Exposed on Tuesday August 31.