We’ve heard Detroit’s becoming a hotbed for tech talent. But that’s not all.
With the arrival of former Donna Karen CEO Jeffrey Aronsson in the City, Detroit is set to compete with Paris, New York City and other classic hotspots for fashion. Detroit Mayor Mike Duggan personally charged Aronsson with creating a new textile design and fashion production hub in The D.
This will be a big boost for Detroit, and its garment industry:
- Detroit-based companies like Shinola, Detroit vs. Everybody and Ash & Erie (which was recently featured on ABC’s Shark Tank and received a $150,000 grant from billionaire businessman Mark Cuban) will be able to manufacture locally, at better prices.
- Industry growth in the City is likely to encourage other fashion leaders to join Aronsson in relocating to the Midwest.
According to award-winning journalist Kimberly Hayes Tayler, in her model D article “Can Detroit become a textile manufacturing hub? Industry professionals think so:”
Aronsson imagines a campus where early, high-potential design and fashion entrepreneurs can get prototypes made and engineered for production, and manufactured without all the obstacles that drive their work to countries such as China…
Jennifer Guarino, Shinola’s vice president of manufacturing, has already teamed up with other Detroit clothing companies, including Ash & Erie, Detroit Denim and Maggie’s Organics, as well as the Lear Corporation, to create the City’s Industrial Sewing and Innovation Center, “an academy and factory in one.” Part of this effort will include a U.S. Department of Labor-approved apprenticeship certification program.
To learn more, read the full model D story.
Single Family or Multifamily Real Estate Investing: What’s right for you?
For those considering, and those already deeply involved in real estate investing, the question of which is a better option;...
1031 Exchange and What it Means For Real Estate Investing
What is Section 1031? Whenever you have a gain on the sale of a real estate investment property, you generally have to pay tax...