Staying on top of a venture, its investments, and returns that accompany the deal is a challenge in itself, for any CEO. And, it is even more so of a challenge when a captain of industry seeks to do business with new investors, while staying on top of daily business duties. Getting everything to come together in smart fashion while cutting a profit in a competitive market can prove daunting at times.
It is not uncommon for businesses to take a beating just to break even, so they can do it all over again when the next year comes. Those companies that do make a profit, and in some cases thrive within their industry, really ought to be commended. Throw in the reality of politics involved within the world of fashion accessories, and one woman in a thousand has the fortitude to succeed.
Still, RealReal CEO Julie Wainwright manages to find meaning and the vision needed to drive her business toward success. So, it is only reasonable that she networks for potential investors regarding her venture. The concept is simple. Wainwright uses her own acumen and modern technological advances, such as the internet, to resale high-end fashion.
Of course, there are things like payroll, insurance and the leasing of office space that make investing networks everyday institutions. The goal is impressive. Adding to hundreds of millions of value, Wainwright invites new blood into the fold. No matter what happens in trade and commerce, or anywhere else in life, there is usually more than one way of thinking through a situation.
One the one hand, some people see Wainwright’s public seek-and-find mission as an indication that her company is not as stable as it could be. This is not necessarily a bad thing, as it simply may need time to grow. However, other industry insiders say that RealReal’s need for investors coupled with its ability to survive this long points to one fact. They believe there may be a substantial and hidden market ready to provide a lucrative service worldwide once the groundwork is finished being laid.”
Lime Crime is a vegan cosmetic company which prides itself with the production and sale of animal friendly cosmetics. Recently, the company decided to expand and offer their products in China.
Kim Walls,the Global General Manager for the company, realized from the beginning selling in China would be almost completely different from how selling was done at present, and it did not take long to realize that a transition like this came with its own challenges.
The first such challenge was with regard to Chinese policy; which states that all cosmetics must first be tested on animals. Obviously, this requirement is in contrast with Lime Crime’s core beliefs and was not willing to bend the ethical stance to increase business. Luckily, there was a way around that requirement.
Chinese law states that animal testing is not mandatory if products are shipped directly from the US. This means that the cosmetic company could ship directly from the US without having to worry about the animal testing requirement.
At first glance, this seemed to be a solution. However, other challenges like international refunds and the distribution of counterfeit products, caused issues for the company. Over a million units of fake lip topper had already been discovered being sold in China. What Lime Crime needed was a more secure way to ship and a way to make sure the brand was protected.
Brand protection and eCommerce tools were found through Revolve. Revolve is an eCommerce platform based in Los Angeles. The company joined with Revolve to handle international shipping. This seemed to be the best move, considering that Lime Crime, did not wish to deal with issues that comes with international shipping.
In addition, the cosmetic company developed a “seed audience” which serves the purpose of protecting the brand. Through social media and the internet, Chinese consumers now know that authentic cosmetics products are affiliated with Revolve.Now, consumers can be certain that they are buying authentic products when it is associated with Revolve.