full interview: transforming your knits into a business with Moyang Yang
A summary of February's YKWU digital session in collaboration with Moyang Yang, founder of luxury crochet brand MOYA London.
On Monday evening we hosted YKWU Digital with Moyang Yang, the founder of luxury crochet bag business MOYA London. Moyang shared some insight on common mistakes she’s seen new brands make when rushing into production; whilst sharing golden tips on setting up a luxury business. We’re sharing our 4 key takeaways with you and the full video.
Moyang emphasises the importance of establishing a clear brand concept before developing products. She discussed frameworks like "Beyond an Exhibition" to help founders conceptualise their brand's identity, experience, and products. Yang also stressed validating ideas by understanding target audiences and getting early feedback. She shared her experience validating the concept for her crochet bag brand in this way prior to full production. Yang's consultancy now helps other founders with branding, websites, photography and more to effectively communicate their validated brand concept to the market.
4 key lessons we learned:
1. Focus on establishing a clear brand concept before developing products. The brand concept should communicate your core beliefs and how you will serve customers, and products should flow from that concept.
2. Validate your brand idea by immersing yourself in your target audience and understanding their lifestyle and values. Get feedback on your concept before investing in product development.
3. Publicly share your brand idea to build a community and gauge interest. This allows you to test your concept without the risk of product development.
4. Collaborate with potential partners like stylists to get early feedback and sales opportunities for your brand concept in the validation stage. Their buy-in can help prove the viability of your idea.
Watch full video
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