15 Apr 2010, Posted by admin in 20 Questions,Fashion, 0 Comments

20 Questions With Yumi Kim

Name: Kim Phan

Job Title: Founder, CEO and Head Designer of Yumi Kim

Meet fashion designer Kim Phan, founder and CEO of clothing line Yumi Kim. A self-described “Jane of all trades,” Phan launched her own clothing line in fall 2008, focusing on vintage prints and silhouettes with a touch of funk and urban femininity. Sold at upscale boutiques and department stores including Saks Fifth Avenue, Intermix and Bloomingdale’s, Yumi Kim has quickly become a favorite among the Hollywood crowd. In this edition of 20 Questions, Phan tells us about her love for Twitter, why her clothes give her customers an instant mood boost and why you should have paid attention in that accounting class you slept your way through.

Jennifer Sung: You started out in the music industry but decided to take the jump into the fashion world. Why the career switch?

Kim Phan: I moved to New York in 2001 and I ended up working for the president of Arista Records from 2001 to 2003. I was there for almost two years and when you work for the [president of a music company], you get to see the whole entire operations of a record company and learn how music is made. You also work with a bunch of different celebrities. However, I realized in the two years working there that I wasn’t passionate about music. I just wasn’t for me. So I decided to pursue what I love, which is fashion.

JS: Who is your target customer?

KP: My target customer is a girl ranging from 25 to 40 who’s into fashion. She cares about fashion and she cares about quality. She wants to look nice but not at designer prices. My line is in the contemporary market so our price points range from $125 to $255.

JS: What is your favorite go-to outfit?

KP: I think my favorite outfit is the ultimate dress. It works from top to bottom and you don’t have to worry about merchandising it with jeans or a skirt. Your outfit is done.

JS: Everyone from Kim Kardashian to Lauren Conrad is being photographed in your clothes. How did you develop such a strong celebrity following?

KP: The funny thing is that when I first started Yumi Kim, I didn’t have a PR agency. We sold our clothes to boutiques and it so happened that a lot of my clothes [were worn by celebrities]. The people who you see wearing my stuff (i.e. Kim Kardashian, Paris Hilton etc.)–they bought [my clothes] out of the stores, they weren’t just given to them. That to me was very flattering because they were items that [celebrities] actually purchased because they liked the clothes, not because it was an item that was just given to them for free.

JS: How does having a strong celebrity following have an impact on your business?

KP: I think right now in fashion, a lot of women out there turn to magazines to get inspired by girls like Lauren Conrad and Paris Hilton and to see what they are wearing. If these [celebrities] are wearing certain designers, then these designers must be hot. It absolutely helps my business and it’s a way to be discovered.

JS: You have some of the brightest and most playful vintage prints. Where do you find inspiration for your prints?

KP: I travel a lot. I love going to flea markets and finding old scarves and re-doing vintage prints. That’s what my specialty is. I love prints and for me to put a print into production, it needs to have that wow factor. It needs to have that feel that my customer comes to me for, which is that pretty floral print or that really cool geometric print. I work with a lot of prints and color and I feel like what you wear has an impact on how you feel. When you wear something pretty and floral, you can’t help but feel happy and good.

JS: When you are selecting prints, do you try to align them with trends on the runways or do you stick to your core strengths?

KP: I tried to go with the trends when I first started, but I realized that it wasn’t working out for me. You know how every season there is that ‘it’ color? For example, this season one of the biggest trends on the runways is neutrals–beiges and browns. I have never worked with neutrals and I really debated [whether to use them]. But I knew I had to stick to what I’m known for. I like to keep the line consistent. I want to create a line that my customers can rely on for vintage prints, vintage florals and vintage geometric prints. I don’t go crazy one season and then go in a different direction the next season.

JS: How do customers shop differently in your boutique versus your online shop?

KP: I just launched my online shop last March so it’s been about a year now. I am blown away by the success of the online store. At first, I thought it would give access to my customers who live outside of New York but [part of the reason why it’s been such a success is that] my line online is much bigger than what you see in stores. For every single print, we make about ten different items that come in that print. If you go to a Nordstrom’s they might only have one top in that print. Or a boutique might just have one dress. Having an online shop allows my customer to see what her options are and see all of the styles. For me, it has been great to have an online and a flagship store. In our flagship store, customers can see the entire collection and try [our clothes] on. I have a great sales team so they’ll help you decide what print looks good on you.

JS: Can you share your design process with us?  What season are you working on now?

KP: We plan everything about a year in advance so we are planning for spring 2011 right now. I’ve collected a lot of stuff throughout the years. So if I’m working on spring, I’ll go back into my box of things and see what I have put away [that will get me inspired] for spring 2011. [My team and I] will start working on the line, brainstorming, sourcing and meeting all of my fabric vendors. We meet with factories from all over Korea, Vietnam and they come and show me all the new prints they have and I re-color all of them to make my own version[s].

JS: What does a normal day in the life of Kim Phan look like?

KP: On a typical day, I usually get up at 7 AM and I’ll start answering my emails from the night before. I work with production [teams] in Asia so most of the time they answer all of the questions that I sent them from the night before. And between 7 AM to 10 AM I’m usually answering emails and reading everything from online blogs to gossip because you have to be in touch with what’s going on in the world. And especially [in dealing with] the contemporary market, you have to see what the celebrities are wearing and who’s the new ‘it’ girl. I also read a lot of business trade magazines like Women’s Wear Daily and the New York Times. In the afternoon, I’ll usually go to Bikram yoga or my workout and I’m in the office by about 12:30 PM. I’m usually in the office until about 7:30 or 8 PM and then I’ll usually meet up with friends for dinner.

JS: I noticed that you are a big Twitter-er. Do you interact with your customers and fans online and if so, what is that experience like?

KP: I got into Twitter about a year ago and it’s a great thing because it allows you to see what people say about you. A lot of the time, my customers will show me a picture of the shirt they just [purchased] and they’ll comment, ‘I love it.’ If I see [their Tweet], I’ll write back, ‘Oh, it looks great, that item is one of my favorites.’ It allows me to interact with [my customers]. One of the coolest things happened yesterday. I posted on my blog and Tweeted that Nicky Hilton was rocking a Yumi Kim shirt and Nicky Hilton Tweeted me back last night. That’s happened to me a couple times with other celebrities. I can also [use Twitter to] mention special sales I’m having at my store or online.

JS: I noticed that you also keep a blog. How is that different from interacting with your customers and fans on Twitter?

KP: The blog is more of a creative outlet for me. Because I travel a lot and I love fashion, it gives my customers insights into what I’m into, what I’m like, what it’s like to live in New York City, where I eat, etc. It’s pieces of my life. It shows my customers that I’m a normal girl who lives in New York and is an aspiring designer. I’m not a big household name but I’m a girl with a dream.

JS: Is there anything you wish you had known when you first launched your clothing line?

KP: I think a lot of people who want to start a clothing company don’t realize that 90% of it is business. I wish I had paid more attention in my business and accounting classes because it would have made my life so much easier when I started the business. I ended up having to go buy and read books to learn how it all works. For example, one of the things when you create a line is that you have to understand cash flow. So in order for you to make money you have to produce goods, sell it, collect the money and put the money back in (to the business). A lot of designers say, ‘I make a whole collection, I sell out, but I never make money at the end of the day. Everything goes back into my company.’ You have to understand that process. You need to understand that if you want to grow to the next level, you need to have this much to put back into the company, you need to have this much of a cushion to survive.

JS: Based on your experience, what do you think are some of the most important factors that make a fashion company successful?

KP: The product–giving your customer a great product at a price that the customer is willing to pay [is the most important factor in success]. I find that these days in fashion, I see a lot of talented people coming out [of the industry who don’t quite understand this]. If you are asking someone to pay $800 for a dress, you’d better give them that $800 dress that is worth paying for. If I’m looking at an $800 dress that looks no different from a $150 dress from Banana Republic, then that’s an issue. For me, it goes back to putting together a great product that my customer is getting for a [fair] price. I think that in any industry if you give your customer [a product] at the right price, that’s how you become successful.

JS: What are some of your near term challenges that you are facing?

KP: I’m learning how to move merchandise and figuring out other outlets to move merchandise because it was much easier to move things before [the recession]. Right now, I am competing against H&M and Zara and Forever 21–fast fashion retailers. That has made me go back to the drawing board and think, ‘How do you make a product that will make a girl come in and spend $200? What’s going to make a dress [stand out] from a [dress sold at] Topshop, Zara, H&M, or Forever 21? That’s where I’m lucky because I’m making prints that are identifiable. When you are wearing a Yumi Kim dress, people know it’s a Yumi Kim dress, not something from Forever 21 or Zara. It makes me spend more time on my prints to make sure that my clothes look much more like luxury products than something [one of my customers] could find in a random shop.

JS: Where do you see your business five years from now?

KP: Right now, I’m a small company and I’m going through growing pains. I’ve gotten to a certain level but how do I get to the next level? You know, eventually I’m going to have to bring in people who have the expertise and can tell me, ‘You’ve reached a certain level and these are the things you need to do to get to the next level.’ While I did graduate from college, I haven’t gotten an MBA or run a multi-national corporation. There are other sides of the business that I’m just starting to learn–from licensing to off-price to doing private labels–because you can only grow so much from boutiques and department stores.

JS: You have one flagship store in New York. Do you have plans to expand your store base?

KP: I have one flagship store in the Lower East Side. I would love to eventually have one more store in Los Angeles and another somewhere international in Asia like Hong Kong or Japan. I have a lot of customers and a good following in Asia, which is why I want to expand there. [In Asia], one of the biggest trends is that the girls love floral dresses and vintage-inspired pretty looks, which is a strength of mine right now. I think [expanding there] would be a good business decision for the company.

JS: What have you learned in your role as the CEO and head designer of the company?

KP: At the end of the day whether you own a restaurant, or own a clothing company, one of the most important things is learning how to work with people. It’s so important. Managing different people, bringing the best out of them, being a role model and being a good leader [is crucial to my success]. It’s important to  get people to be on your side and to work collectively. It’s not something you can learn in school. For example, over time, I’ve learned the different ways you should interact with a male vendor versus a female vendor.

JS: What do you think has been the brand’s greatest achievement?

KP: I think I’m most proud of the product itself. I’m proud that I’m able to make a product at an affordable price and that I give people quality products. The greatest achievement for me is when my customers come in and say, ‘Wow, every time I wear your stuff I always get compliments.’ That is the stuff I live for. It’s not the celebrities. It’s the regular customer who doesn’t know who I am, who happens to come in the store and buy a dress and then wears it out and gets complimented. And [that customer] comes back because it’s a brand that she knows she’ll get noticed in.

JS: What advice do you have for young girls who hope to launch a fashion business one day?

KP: The advice I have is that you have to fight the fight and you have to be passionate about what you do because that’s what’s really going to push you forward. The last two years of the financial recession have been hard. I’ve seen a lot of my friends and a lot of companies fold. I feel really blessed. I still love what I do and I’m so passionate about it. When you’re not doing it for the money and you do it for your passion, I think everything is so much more pure and you create a much more pure product. I’m not making a shirt in a neutral color because neutrals are in, even though I know everybody is looking for neutral colors today. I’m going to stick to my formula. I know I love florals and funky prints and this is what I’ve been about from day one. I’m not going to change that. And I think I’m successful because of that.

Photos from top: Lauren Conrad in the Yumi Kim Amber top, Yumi Kim’s website and the Yumi Kim Lower East Side, New York flagship store

Visit YumiKim.com for more information and head to the store at 105 Stanton Street in New York City

–Jennifer Sung