Fashion Nova, founded in 2006, presides over 10.7 million followers on Instagram. The brand comes in contact with even more potential customers through their network of between 3,000 and 5,000 influencers. Fashion Nova's commitment to accessible and affordable fashion to women of all shapes and sizes proves why their list of followers grow and grow, and how these commitments establish the brand as an industry leader.
A Reputation for Meeting Expectations
Fashion Nova CEO Richard Saghian is proud of his brand for turning "fast fashion into ultra-fast fashion." As a trendsetter, Fashion Nova must maintain their reputation for providing ultra-fast fashion at an ultra-low price. The brand does not disappoint in ensuring that customers are paying the fairest price possible. For example, dresses are as low as $28 and no more than $40. According to Saghian, his brand is "trying to make the fashion industry play by the rules." He noted that fashion competitors tend to mark up a price as much as 500%, but in his opinion, it isn't "fair for a brand to sell an item for $100 that they made for $0." Customers can expect to pay $30 for a pair of ankle boots or heels and $55 for a pair of thigh-high boots.
According to a study by EDITED, 95% of the company's products available online are priced between $0-$50. Their competitors Forever 21 and Boohoo also use a similar pricing structure, but Fashion Nova is cumulatively cheaper for jeans and crop tops (11% of available product). Fashion Nova also has the lowest discount rate among their fast-fashion competitors. Their discount rate is 38%, whereas competitors Boohoo and Forever 21 had discount rates at 81% and 51% respectively.
On top of Fashion Nova's affordable pricing strategy, Fashion Nova also makes their clothes as easily accessible as possible. The brand ships globally and offers two-day shipping on all domestic orders. For shoppers who live within a 40-mile radius of Los Angeles, it is even simpler. If a Los Angeles customer orders via Fashion Nova by 1 p.m., they are guaranteed to receive this order via Postmates on the same day.
Denim That's To-Die For
Fashion Nova is especially known for their jeans, which affordably retail for around $35. The denim hugs and hips the waist in a stretch that Cardi B has praised as the only type of denim pant that can appropriately fit her body. This turns former endorsers into competitors; Khloe Kardashian and LaLa Anthony, for example, both created their own stretch denim that retail between $90 and $150.
Yet Fashion Nova denim is still arguably more competitive since the price is low and the brand recognition is high. Their denim business is also expanding thanks to a new partnership with up-and-coming Houston sensation Megan Thee Stallion. The Roc Nation rapper announced on Instagram that her clothing line with Fashion Nova would cater to her fellow "stallions," also known as tall women with curves and long legs.
There was immediate buzz in the post's comments. Megan, who is 5'10, replied to an inquiry about her denim size saying that she's a size 11 in jeans, but "it's a real gamble with the length." Her fans showed love and praise with comments like "us tall girls appreciate you" and "finally someone gets the struggle. Another fan wrote "Please make a line for y'all girls. 5'10 and up. Nobody ever thinks about us," one woman wrote, while another wrote, "THANK YOU GOD!!! Finding long jeans is so hard." It's safe to say that not only will Fashion Nova benefit from having an influencer partner that is as relatable as Megan, but from their continued commitment to accommodating their customer's body diversity at affordable prices.
"The Instagram Brand" and Pricing Strategy
Though successful, Fashion Nova was not an instant phenomenon. Richard Saghian opened the first Fashion Nova store at the Panorama Mall in Panorama City, California. In 2013, it came to Saghian's attention that he could sell those same products via online, but at higher price points. To generate buzz and direct customers to the website, he chose to utilize Instagram. The framework was in place, since store shoppers were already posting pictures of themselves in the product and tagging the store's account. He saw this as an opportunity and began to work with them directly, giving them free products in exchange for promotion. This tactic immediately worked - the Fashion Nova account had 60,000 followers on Instagram before the website even launched.
All products launched on fashionnova.com during their opening weekend sold out in a matter of days. It is with this pivot to online sales that Fashion Nova connected with their full potential. Today, Fashion Nova continues to forge their path through influencer marketing. Richard Saghian works with a network of between 3,000 influencers and 5,000 influencers to promote the brand. Members of this network typically advertise the clothing to thousands, sometimes millions of followers. High-profile celebrities such as Cardi B and Blac Chyna have collaborated with Fashion Nova; both women have 62.7 million and 16.6 million followers, respectively. The impact of Instagram is initiated in both a grassroots and trickle-down manner. Not only are high-profile accounts involved, but Saghian and his team also post every 30 minutes on Instagram, amassing hashtags such as #NovaStars or #NovaBabes. When customers tag themselves in Fashion Nova, the company's Instagram account likes and comments on each post; they sometimes even repost the image on their own profile.