The beginning of any season is one of the best times of the cycle. One of the first steps is the creation of the seasons color pallet. The reason this is such a great part of the cycle is it gives designers opportunity to start fresh, and look to a new collection with a new perspective. Color trends come from a verity of sources, We have existing trends that evolve and adapt to the new collection, Then we have fashion colors that pop up form season to season as a trend in color, Other color trend sources include sporting events , social media, celebrity . The color palette is only a foundation for designers to collaborate, and insure a cohesive collection, however the pallet is Never intended to be limited in any way, through out the season it must evolve and expand as needed, in addition a designer should also push themselves to work past the pallet for accent and contrast.
This first pallet is one developed for mass market mainstream fashion , It focuses on rich earth tones, vegetable colors , and warm neutrals. This is a core pallet, and will work great for plaid , and print coloring. All are safe and tried colors and perform very well at retail. 
This next pallet it the perfect complement to the EARTHENED colors, it is always part of every one of my color pallets though the tones and hue may shift from season to season. A designer always needs a good selection of blues 
This last pallet is the newest and trendiest , to would be used for a STREET looking collection, where focus is clear bright , and has a great emphasis on black, white, and red. You can see some of my designs based on this trend here.
So what ever process you like to use to design, the process of developing a color pallet is cathartic and freeing from the season just finished, and should not be over looked.