MEMBER INTERVIEW WITH VERÓNICA MONCHO LOBO

The Industry chats to Verónica Moncho Lobo about the benefits of setting up shop on London's Elizabeth Street.

Industry member, Verónica Moncho Lobo started her eponymous womenswear label back in 2008; a business decision that was swiftly followed by the launch of her own Belgravia flagship three years later. In addition, her dresses stock shelves in boutiques all over the world, including England, Ireland, New York, the Philippines, Saudi Arabia and Qatar. The Industry speaks to the creative director about the differences between retail and wholesale.

What inspired you to start the Verónica Moncho Lobo label?

After seven years of experience in the fashion industry, I felt I had collected knowledge that I was ready to invest in my own line. I had arrived at a point where I felt I had grown creatively and after working for the likes of Donna Karan and Catherine Malandrino, I wanted the freedom to design on my own. As I began to develop my own style, I realised I just had to put it out there and test the water.

What is the greatest challenge that your fashion business has faced and how did you turn it into an opportunity?

Everything has been a challenge since the very beginning, but a challenge I embraced with love and patience. Opening my own company has not been an easy task to fulfil, and as the company grows I find more and more that responsibilities multiply, and not just in the design area but in every aspect of the business. One of the initial challenges was to find the right production facility balancing the small start with the ongoing growing logistics of production and shipments. I started in Spain, moved production to New York, then Italy until I finally settled down in London. Recently it has been a major trend among UK designers to produce in the country as local manufacturers have become increasingly more competitive.

Another personal challenge was to deal with merchandise pricing with multicurrency suppliers, production facilities and clients in a rapidly changing economic environment. I call it 'personal' because my background is not finance, but I have achieved and learned what seemed unimaginable a few years back with the help of my business partner, who is also my brother.

And the most rewarding challenge of all has been to find the appropriate balance in my style which allowed me to gain acceptance not just here in London but in what are seemingly very different countries and societies, like the Middle East, Latin America, different parts of continental Europe and the US.

You opened your own boutique in Belgravia just three years after launch. How do you find retailing within your own bricks-and-mortar store in comparison to selling wholesale?

Having your own point of sale makes an unimaginable difference. First of all I have a space where clients can come and experience my world, try the clothing and get to know me and my vision as a designer. I have immediate feedback, which is most valuable to me as I design future collections. I establish a direct relationship with the client that allows me to enrich their experience, discover what their needs are and interpret future trends directly.

Having a physical space facing the street also gives me much more exposure to the world, and has already brought me to a subset of people in the industry that I did not have direct access to before. I have been discovered by new clients, new stylists, personal shoppers and international media in a way and speed that can hardly be replicated without a retail space. I also perceive that I am seen differently and in a stronger position when it comes to wholesale. The fact that I am expanding on my own gives me independence and at the same time renders me more reliable for the fashion trade.

Where do you see Verónica Moncho Lobo in five years?

In the next five years I see myself growing gradually as a brand, expanding the breadth of the collections with a couple of flagship stores around the world.

What other Industry members have you worked with?

I have worked with Courtney Blackman and Laura McCluskey through Forward PR.

Get in touch with Verónica via The Industry Directory