Family-owned businesses in the fashion industry have been under pressure for years due to challenges such as online competition and rising costs. In recent years, several fashion entrepreneurs have had to close their doors because they could not find a successor. FashionUnited spoke to four children of first-generation fashion entrepreneurs who have chosen to take over their parents’ businesses. What motivates them to do this in these challenging times, and how are they making the business future-proof?
Prepared from a young age
Maral and Arden Aykaz indicate that they knew from a young age that they wanted to take over the leather goods brand of their father and uncles. “Arma has existed since 1985 with the goal of becoming a leather specialist. It was self-evident for us that we would take over the company. We worked towards that from a young age,” Arden said.
Maral added on her part: “Where other students had jobs in a supermarket, we had part-time jobs alongside our studies at the office and became increasingly involved with Arma. Ultimately, we took over the management.”
Arden pursued a business degree, while Maral, who heads the Marketing team, completed a degree in communications. They took over the company in July 2024.
Fabienne Tran, owner and CEO of the multi-brand store Divali Alkmaar, also knew early on that she wanted to take over her parents’ business. “I was about eight years old at the time, and I loved it,” the entrepreneur told FashionUnited.
Her parents, who fled from Vietnam to the Netherlands, founded the fashion company in 2004 without any fashion or entrepreneurial experience. “From a young age, I accompanied my parents on buying trips,” she said.
During her International Business studies, Tran started as Social Media Manager at her parents’ fashion store, a position she could easily combine with her studies. In November 2020, Tran became co-owner of Divali Alkmaar, and in June 2024, she took over the company completely.
Jeroen Bezu, co-owner with his sister Pascal of the seven-store chain Joy House of Brands, says that he also adapted his studies to the needs of working at his parents’ company. “I had the goal of taking over my parents’ company in mind quite early on. For my sister, it was a different story. She wasn’t so sure,” he says.
Future-proofing a family business
For children taking over their parents’ fashion business, it’s important to preserve the legacy of the business while also innovating to secure the company’s future. Bezu shares that his studies at TMO Fashion Business School helped him connect with like-minded individuals in the fashion world, people who, like him, focus on the higher, more premium segments of fashion.
“I want to continue developing myself and constantly improve the store,” he explained to FashionUnited. “Not only the store itself, but also the customer experience and the products we sell must constantly evolve,” Bezu said.
He continued: “Currently, we are observing changes in the market. Competition is particularly intense in the lower segments. The decline of high streets and the decrease in small independent shops contrast with the growth of large fashion chains.”
This month, the new Bezu generation is opening a revamped multi-brand store in Roden. “The Joy store will expand from 2,500 to 3,000 square metres and will be completely redesigned,” Bezu said.
The new generation at the helm of Arma shares that they have launched a new brand aimed at the commercial market: Studio AR. “At the same time, we are focusing Arma, our original brand, more on the premium segment,” Arden said.
“We are working on growing online and are primarily focusing on the B2B market. We strongly believe in collaborations with our retail partners. For example, we organise many in-store events that we then share on our social media channels. In addition, we are expanding internationally and will soon be entering the US market,” Maral added.
Future-proofing your parents’ business also has everything to do with cultivating a pleasant presence on the high street, Bezu believes. “As an entrepreneur, it’s important that you enjoy your work and radiate that,” he said. The fashion entrepreneur added: “With the decline of shops in town centres, we believe we need to clearly show our own identity with our stores.”
Like Bezu, Tran also indicates that pleasant service, such as building a personal relationship, is crucial to the success of a family business. “Our personal service is what Divali is known for. When you come into the shop, you’ll regularly see me there. Children can play at our store, get a sweet and a small gift. We try to make it a really fun day out for everyone.”
New generation, new ideas
A second generation at the helm of their parents’ fashion company not only inherits their parents’ wisdom but also brings their own new ideas to the business.
After taking over Arma, Arden and Maral hired new people. “The first thing you notice is that we now have a much flatter organisational structure. This means that we give our colleagues more freedom and responsibility to carry out their tasks flexibly,” Arden explained. Maral added on her part: “This differs from the previous generation, where hierarchy was more important.”
Bezu and his team have consciously implemented a change of course. “We have chosen to focus on more beautiful products and higher quality,” he told FashionUnited. This has led to a clear shift in the positioning of their store. “Through this conscious choice, we have grown as a company from a mid-market to a higher segment,” adds the fashion entrepreneur.
Timeless wisdom from the first generation
Bezu has a lot of respect for his parents’ standards and values, he says. “During the coronavirus pandemic, my parents had to take on debt to retain their employees,” he said. For Bezu, the way his parents led the company during the pandemic has had a major influence on his own approach as an entrepreneur. “It’s important that employees feel that they are not just working for the shop, but that it is also their shop.”
The second generation at Arma learned an important lesson from their father during the coronavirus pandemic: “Our father instructed us to contact all customers and reassure them that payment of invoices could be deferred. This was hugely appreciated. It shows that it is valuable to think along with customers, even in difficult times,” Arden said.
Arden and Maral’s parents are still involved in the company: their mother works in the finance department, and their father advises on strategy.
“Our father keeps us sharp by asking us about the reasoning behind our decisions,” Arden said. Maral added: “Although he sometimes struggles to let go, he does give us the freedom to make mistakes and learn from them.”
For children who want to take over their parents’ fashion business, Tran advised: “If there is no passion for entrepreneurship and it’s only about financial gain, this industry might not be suitable. It is hard work. I enjoy working with my family; I see them every day, and it’s usually enjoyable.”
This article originally appeared on FashionUnited.NL, translated and edited from Dutch into English by Veerle Versteeg.
It was translated using an AI tool.
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