Ken talks to Rahul Malik, former Boston Consulting Group (BCG) and current Managing Director at The Business of Fashion, in the episode “From Consulting to Fashion and Media” of the Beyond Consulting podcast. The episode is a robust conversation that spans Rahul’s insights on fashion trends from the unique impacts of casualization in modern dress sensibilities, both in business and on the street, to important takeaways about the sustainability movement in fashion and its connection to climate change. Amid this rich exploration of fashion, Rahul shares how his application of analytic rigor drives important moves in the industry and navigates uncertain times like the recent pandemic.
The Business of Fashion began as a blog about the industry and is now a powerful resource that reports on fashion news, trends, technologies, and developments. This traditional form of transcription journalism is a locus of industry leaders and aspiring students seeking to break into the world of fashion alike.
What Rahul’s keen experience in consulting brings to the table is an eye to leverage the vast data already available on The Business of Fashion through its day-to-day reporting and apply targeted research strategies and analysis. As a result, the company has now expanded into a secondary business called BOF Insights, which offers clients the benefits of its proprietary research.
This research supports brands, retailers, and private equity firms that come to BOF Insights seeking their informed perspective on the industry. Additionally, as Rahul highlights, a consultant’s structured approach to discerning a course of action is key to making this resource such a valuable guide. Such methodical approaches allow companies coming to BOF Insights to get the necessary information they would need to both accelerate and scale.
These insights pick up on important shifts like the move to sustainability Rahul noted with entries like “The Future of Fashion Resale” and the more expansive survey, “The BoF Sustainability Index 2022.” BOF Insights also includes a variety of reflections on trends including a discussion of how companies might instrumentalize digital assets with installments like “The Opportunity in Digital Fashion and Avatars” that picks up interest around NFTs and applies that to fashion companies.
What this means for Rahul is that an industry like fashion, which has a reputation for ephemerality, not only benefits from tactical approaches to data analysis, but this creative business space actively engages these tools in order to grow and drive new markets. For consultants, this means that fashion and fashion media might absolutely be the space for them.
To hear more on Rahul’s leap to fashion and the relentless pursuit of your interests as well as stories from former Management Consultants about their career paths, listen to Beyond Consulting, a weekly podcast hosted by ECA’s CEO, Ken Kanara.
Ani Govjian, Ph.D. is a Project Manager at TalentCompass. She can be reached at [email protected]