“If you want to start your own business, your own labor is worth zero,” Nanette Lepore told attendees at ACG New York’s Women of Leadership Summit.
Lepore, the keynote afternoon speaker, wanted attendees to know that they’re initially not going to get some big paycheck every week.
Given that reality, Lepore said, an entrepreneur can succeed provided “you love what you do” and “you do it with a passion.”
In starting her business, the designer noted that she “always think[s] small. I don’t want to get paralyzed. I do what I can handle. I still operate my business in small chunks.” That kind of control and oversight, she said, gives her an advantage: “I like to learn from my mistakes so I never do it again.”
Production for the sportswear business is done in America, particularly in New York. “I like to manufacture in America. At my price points, I can manufacture in America and still make a profit,” she said. Lepore also explained that the smaller volume that’s done here gives her more control over the business, whether it’s better fabrications because they can’t be shipped to China, better fit in general or just producing what is needed as it’s needed.
At the event held at the Time Life Conference Center here on Thursday, Lepore also spoke about possible outside investors from the private equity community. She noted how before the 2008 downturn there was one possibility that never closed because it involved bringing in a new chief executive officer who only wanted to work two days a week. That led to a rethinking of the process with a second potential investor because Lepore wanted final say over who can be fired, noting that she wanted to protect her employees, many of whom have been with the company for years.
As for the criteria for an attractive investor, Lepore said: “Someone who will work with us as we are for six months to a year and see who we are, and not just [someone who will] come in and bulldoze the company. I want to keep the essence of the company.”
She noted that an investor could help the company expand, perhaps globally, and move into the jeans and T-shirt space. Lepore said she is meeting next week with individuals from Dubai regarding expansion there. She also said additional investment might allow the company to expand its footwear and handbag businesses, help with a license on accessories and with factory connections and sourcing in the jeans and T-shirts categories.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)