In the third and final installment of our Ladies Who Lead series, which celebrates women leaders in luxury and fashion, we hear from women who have founded companies that have transformed their industries, and share their journeys from startup to success. Hear about the challenges they overcame.
Anyone can have an idea, but only a few can turn that idea into a successful brand. As all the founders interviewed here can attest, the path is littered with hurdles that seem more insurmountable than the next. This was especially daunting for Anissa Kermish, who started the cult lifestyle label as her creative pursuit, but whose popularity led her to become CEO overnight. I was forced to change jobs. “Running a brand has nothing to do with being a designer,” she says. “It's an equation with so many variables. I sometimes liken it to conducting a symphony with ever-changing instruments, but it's all about harmony, good timing, and listening to the ever-evolving voice of the audience.” In an interview, Karmish talks about her own intellectual property battles and the lessons she learned from working with unreliable suppliers.
In case you missed it: Farfetch, 3.1 Phillip Lim, head of fashion at MCM, Tibi and Citizens of Humanity shares luxurious advice for up-and-coming CEOs
By Rotation's Eshita Kabra-Davis and Hula's Sarah Huang cite funding as a major challenge facing women in fashion and technology. The Female Founders Forum's latest annual report revealed that 3.5% of her equity investments went to women-led companies and 85% went to men-led companies. “As an immigrant and a third-culture child, it was even more difficult for me to get into the networks that these investors often operate in,” Kabra-Davis says.
But sometimes the biggest hurdles come after success. For Joe Malone, it was the crisis of self-doubt he faced when he wondered if he had the courage to start again after selling his first business to Estée Lauder. “What I was afraid of was, would I be able to do it again, maybe like everyone else? Would I fail? People would still know who I was and they wouldn't know who I was. Is that relevant?'' she says. “I think that was my biggest fear. Of course, fear is part of motivation. If you are frightened by fear itself, you will never achieve your dreams or become a pioneer.”
Self-doubt is a common problem plaguing women, and 111Skin's Eva Alexandridis is no stranger to its debilitating effects. “At the beginning of my career, I often lacked faith in my abilities and my journey and assumed that others knew more than me or had more relevant experience. I did,” she says. “But it's important to recognize where you belong. You got into this position because of your knowledge and what you can offer.”
But this emotional attunement can also be your greatest strength, says Sara Phan. “As a business owner, and especially as a woman, I have sometimes tried to think more with my head and not my intuition, because I thought I could make better decisions that way. The 'emotional' aspect can become more powerful and as your business grows you will increasingly realize that having a high EQ is extremely helpful. ”
Read the full interviews with each woman, edited for clarity.
