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Nasty Gal’s Sophia Amoruso Puts Her Big Global Girl Shoes On

NastyGal's ophiaAmorusoPutsHerBigGlobalGirlShoesOn

I wrote about 32-year old Sophia Amoruso (pictured above), founder of Nasty Gal, in my book, “Exporting:  The Definitive Guide to Selling Abroad Profitably.”  Back then (2012), Nasty Gal made about $100 million in revenues.  She has become a fashion phenom by overseeing a nascent but growing e-commerce site, selling edgy, stylish clothes to a loyal fan base.

Screen Shot 2016-06-04 at 3.03.54 PMCurrently, she generates $300 million in revenues, according to Forbes’ estimates.

According to Forbes, “It [Nasty Gal] topped industry bible Internet Retailer’s list of the year’s 500 top e-commerce performers, beating out the likes of Apple and Amazon with a 92.4% five-year compound annual growth rate.”

Is her company global?  You bet.  Will she take her company public someday?  Our guess is yes.  We’ll just have to wait patiently and see. Meanwhile, strike a pose.  Buy a nasty gal outfit.

Read more:  Nasty Gal’s Sophia Amoruso Hits Richest Self-Made Women List With $280 Million Fortune

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Note: Don’t miss our next WEGG webinar 6/8 on “Avoiding Scams, Fraud & Deceit in Your International Business: How to Conduct Effective Due Diligence,” and presented by expert Louise Kern. Register here: https://attendee.gotowebinar.com/register/3785897085114894084. Event is no charge but you must register in advance to attend.

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Save the Date: November 9th for WEGG Workshop on Exporting

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The WEGG Workshop on Exporting on November 9, 2016 at Chicago Innovation Exchange (CIE) University of Chicago from 9:30 a.m. – 12:00 p.m. (noon) Central time is designed to give participants an introductory understanding of exporting. Laurel Delaney, Executive Director of WEGG, will facilitate a discussion around how to get started in exporting, find customers, get paid, and leverage social media to boost your global business.

The workshop is intended for small business owners and attendees at our monthly WEGG Webinar series (https://womenentrepreneursgrowglobal.org/online-education/) to meet in person and stimulate a discussion around the benefits and challenges to exporting.

Our goal with the workshop is to unlock export potential in each person’s business.  To learn more and to register, visit: https://www.eventbrite.com/e/wegg-workshop-on-exporting-tickets-25724870781  Seating is limited.  $20 (+ service fee).  Includes program content, coffee and baked goods.
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Note: Don’t miss our next WEGG webinar 6/8 on “Avoiding Scams, Fraud & Deceit in Your International Business: How to Conduct Effective Due Diligence,” and presented by expert Louise Kern. Register here: https://attendee.gotowebinar.com/register/3785897085114894084. Event is no charge but you must register in advance to attend.

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A Quest for the Best on Setting Up Foreign Distributor Agreements

TheBestOfTheBestOnForeignDistributorAgreements

In follow up to our WEGG webinar April 13th on “How to Negotiate a Good Foreign Distributor Agreement,” our presenter Doris Nagel addresses questions you had and further clarifies points she made during her talk.

Best Practices For Setting Up a Winning Overseas Distributor Agreement

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Note: Don’t miss our next WEGG webinar 6/8 on “Avoiding Scams, Fraud & Deceit in Your International Business: How to Conduct Effective Due Diligence,” and presented by expert Louise Kern. Register here: https://attendee.gotowebinar.com/register/3785897085114894084. Event is no charge but you must register in advance to attend.

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Indra Nooyi: Articulating Performance With Purpose

Pepsico CEO Indra Nooyi talks about making money, performing, and having a true core or sense of purpose.  She believes there is a place for everything in people’s lives, but when you run a global business, you must recast how you make money.  Talent sustainability is discussed too.

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Note: Don’t miss our next WEGG webinar 6/8 on “Avoiding Scams, Fraud & Deceit in Your International Business: How to Conduct Effective Due Diligence,” and presented by expert Louise Kern. Register here: https://attendee.gotowebinar.com/register/3785897085114894084. Event is no charge but you must register in advance to attend.

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Two Chicago Businesswomen Nail It on Taking Their Business Global

TwoChicagoWomenNailItOnTakingTheirBusinessGlobal

International expansion offers growth and the opportunity to not only scale a business, but to diversify as well.  And you don’t need a big investment to pull it off.  Here are two cases to prove it.

Chris-Tia Donaldson, founder of Chicago-based Thank God It’s Natural, a line of hair care products for textured hair, grew her global audience through social media—the international orders and distribution requests flowed in from there.  The question for Chris was never should I do this [go global]; it was more, where should I go first?

Jamie (pictured) and Stephanie Kaplan, the sisters who founded Chicago’s Pinch Provisions, which makes “emergency” kits packed with miniature beauty products, bandages and other essentials, saw the opportunity to grow their business internationally fairly quickly but the key to exporting the kits was based on which regulations they thought they could meet as quickly as possible.  They launched in Canada, France and then the U.K., with Australia focused on next.

Chris and the Kaplan sisters offer the following four tips when taking a business global:

  1. Decide where to expand.
  2. Navigate compliance.
  3. Build a retail strategy.
  4. Cross barriers (whether it be language, cultural or currency fluctuations).

Read more:  How two scrappy Chicago beauty companies are nailing international expansion

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Note: Don’t miss our next WEGG webinar 6/8 on “Avoiding Scams, Fraud & Deceit in Your International Business: How to Conduct Effective Due Diligence,” and presented by expert Louise Kern. Register here: https://attendee.gotowebinar.com/register/3785897085114894084. Event is no charge but you must register in advance to attend.

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The Brazilian Fashion Brand Plural Is Ready for Exports

TheBrazilianFashionBrandPluralIsProperForExports

Fashion clothes by the brand Plural, considered contemporary, modern and unique, are worn by women in Saudi Arabia. The brand, which target women aged 25 to 60, has been exporting to the Maison BO-M boutique shop, in Riyadh, for around two years now, and sales are on the way up.

The last order placed by the multi-brand boutique was bigger than previous ones, according to Plural owner and cofounder Gláucia Fróes. The deal was closed during the Minas Trend fashion fair, held in Belo Horizonte in early April, but some details still need working out.

Fróes hopes to sell her clothes to other Arab countries as well, such as the United Arab Emirates because she gets better acceptance outside of Brazil.  Currently, in addition to Saudi Arabia, she sells her line to Australia, the United States, Portugal and Spain.

Learn more:  Brazilian brand dresses up Saudi women
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next_up_4May_2016_wegginarNote: Don’t miss our next WEGG webinar 5/4 on seven (7) ways to turn cross-cultural understanding into a competitive advantage and presented by expert Sophie Lechner. Register here: https://attendee.gotowebinar.com/register/1760398754302968579. Event is no charge but you must register in advance to attend.

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How to Add $12 Trillion to Global Growth. Advance Women.

HowtoAdd$12TrilliontoGlobalGrowth

The folks at McKinsey & Company have the global growth thing figured out.  A McKinsey Global Institute (MGI) report (September 2015), The power of parity: How advancing women’s equality can add $12 trillion to global growth, finds that $12 trillion could be added to global GDP by 2025 by advancing women’s equality. All sectors — public, private, and social sectors — need to act to close gender gaps in work and society.

Gender inequality is not only a pressing moral and social issue but also a critical economic challenge. If women—who account for half the world’s working-age population—do not achieve their full economic potential, the global economy will suffer.

Read more:  How advancing women’s equality can add $12 trillion to global growth

Read the report:  The power of parity: How advancing women’s equality can add $12 trillion to global growth

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next_up_4May_2016_wegginarNote: Don’t miss our next WEGG webinar 5/4 on seven (7) ways to turn cross-cultural understanding into a competitive advantage and presented by expert Sophie Lechner. Register here: https://attendee.gotowebinar.com/register/1760398754302968579. Event is no charge but you must register in advance to attend.

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Pack It, Sell It, and Go Global!

PackItSellItGoGlobal

We love meeting up with new WEGG fans and Nicole àBeckett is the latest.  Our WEGG Board member, Kati Suominen introduced us to her because Nicole is doing great things for entrepreneurs and small business owners in the area of global trade.  Nicole is founder and President of Mercatura Global in Los Angeles, California.  Prior to founding Mercatura Global, Nicole was called into public service and served as the Senior Director of International Trade for the City of Los Angeles, appointed by former Mayor Antonio Villaraigosa and reappointed by Mayor Eric Garcetti.  You can learn more about her background here.   We hope to have Nicole share her global business experience with us in a future WEGG webinar.

Meanwhile, I thought I’d share a post Nicole did at her blog about entrepreneur Melissa Kieling of Westlake, California, who has reaped the rewards of exporting.  Her startup PackIt has now sold over 6 million products in just six years.  According to Nicole’s post, Melissa “plans for international sales to rise from 11% of total revenue to 25% of total revenue in the next two years.”  Check this out:

What began as a simple response to her son’s disapproval of his lunch’s “warm and mushy” blueberries quickly transformed into a successful product sold in over 40 countries worldwide.

You have to love Melissa for what she has achieved globally in such a short period of time.

But back to Nicole’s company, Mercatura Global, for it is all about helping women in business, and encouraging women business owners to understand the potential they have to export abroad.  Can’t beat that for commonality in terms of what she is doing and what we are doing at WEGG.

You can count on us to partner with Nicole in the near future and at the very least, have her (and exporter Melissa!) present a WEGG webinar soon!

Note:  Don’t miss our next WEGG webinar 5/4 on seven (7) ways to turn cross-cultural understanding into a competitive advantage and presented by expert Sophie Lechner. Register here: https://attendee.gotowebinar.com/register/1760398754302968579. Event is no charge but you must register in advance to attend.

Screenshot courtesy:  PackIt

 


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