with cash. I always tell people: Don’t
snort that cocaine yet.
Wofford That’s a pretty good metaphor. I’m curious about how you’ve
navigated balancing outside wholesale channels [like department
stores] with building a direct-to-consumer experience that is world-class.
Minkoff When we launched, direct-to-consumer was a goal, but that
was still evolving. And so our story
ended up getting overtold by wholesale. A department store would
come in and say, “Make this dress in
red.” And other ones would say, “I
want it in blue, and one in green.”
Because they wanted exclusives.
And so your brand gets cut up and
portrayed in a way that lets the
retailer tell its own story. So I think
that’s why your own locations, or
website, or any point-of-sale experiences, are needed, so you can say,
“This is what the brand stands for.”
Wofford It’s interesting, because
wellness is trendy right now. There’s
that balance between understanding how to build a brand that has
longevity and capitalizing on these
Minkoff I’d look at who are the
opinion leaders in the field, and
who are the ones who launch
something, and then what’s
the next step after that? So it’s
Goop and others, and create
demand from there.
Wofford I’ve always been really
obsessed with the idea of bringing
these products to a mass audience.
I think that’s the biggest opportunity, because we’ve all been sort of
on this wellness-as-a-luxury trend.
But there’s this massive segment
of the community who are not
really being spoken to right now.
Minkoff That’s a huge opportunity.
Wofford Can you give me any
advice in terms of social media?
Minkoff Trust your gut—literally.
The tricks don’t work. We’ve tested
everything, and when anything
sounds too sales-y, it doesn’t resonate. People can tell when it’s not
coming directly from me. So I’ve
gone back to writing all of our
captions now. If we wanted maximum engagement, it would be
basically me on my phone all the
time—a reality show of my life, my
kids, everything. But I would go
insane. So you have to say goodbye
to a little bit of engagement to keep
S BY SERENA
The spoils of her $225
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This Jimmy Choo
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HAU TE HIJAB
She’s making head
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Her popular luxury
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Walmart paid $100
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RENT THE RUNWAY
Her $1 billion valuation
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She’s putting jewelry
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Last year, medical pros
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