With the recent conclusion of New York Fashion Week, designers will be negotiating deals with stores and retailers. Typically, retailers have a strong bargaining chip when forming partnerships with designers. Designers, big or small, have almost no negotiating power if they want to enter into a vendor agreement with retailers/stores. This is applicable to others in the creative field – jewelry designers, artists, sculptors etc.
When dealing with retailers and to protect their interests, business owners should have a system in place to account for the potential risks involved in fulfilling their obligations under the agreement.
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