{"id":32149,"date":"2019-02-19T15:28:10","date_gmt":"2019-02-19T20:28:10","guid":{"rendered":"https:\/\/www.wework.com\/creator\/creator\/?p=32149"},"modified":"2020-03-30T18:02:49","modified_gmt":"2020-03-30T22:02:49","slug":"the-startup-diaries-a-london-fashion-labels-bid-to-become-one-of-the-great-brands","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/creativity-culture\/the-startup-diaries-a-london-fashion-labels-bid-to-become-one-of-the-great-brands","title":{"rendered":"A London fashion label\u2019s bid to become one of the \u2018great brands\u2019"},"content":{"rendered":"\n

Startup founders have infamously unpredictable daily schedules as they work to establish and grow their businesses. What does such an entrepreneur\u2019s weekly, daily, or even hourly routine look like when sometimes there aren\u2019t enough hours in a day? In the <\/strong>Startup Diaries<\/strong><\/a>, founders walk us through a week in their lives and show what it really takes to get a fledgling business off the ground.<\/em><\/p>\n\n\n\n

Nicola Piercy may have co-founded a clothing label, but that doesn\u2019t mean she has a particularly keen eye for fashion. \u201cI don\u2019t weigh in on the designs,\u201d she says, \u201capart from me going, \u2018Oh my God, really? That\u2019s a horrible color!\u2019\u201d To which her business partner, Katie Lopes, usually responds, \u201c<\/span>Trust me. It\u2019s cool<\/em><\/span><\/i>.\u201d<\/span><\/p>\n\n\n\n

The two founded <\/span>Stripe + Stare<\/span><\/a>, a U.K.-based brand that sells striped designs like Bretons and knickers (aka underwear), in August 2017, with a <\/span>\u00a370,000 ($90,000) investment from one of Lopes\u2019s fashion-industry contacts. (Lopes owned a designer boutique, Austique, for more than a decade.) <\/span>\u201cShe\u2019s the creative and sales, and I\u2019m the so-called sensible person,\u201d Piercy says. \u201cI do all the finances, purchase orders, sales analysis, etc. It\u2019s a good balance.\u201d<\/span><\/p>\n\n\n\n

Piercy had just left her job as managing director of a cooking school in London when Lopes approached her about starting the business. They\u2019d collaborated a decade prior at Austique, where Piercy helped out with operations for a bit, so \u201cit was a pretty easy decision,\u201d she says. \u201cWe make a very good team.\u201d<\/span><\/p>\n\n\n\n

With their financing secured (\u201cThe investor had come to Lopes a couple years ago and said, \u2018If you ever have a business idea, I\u2019d be interested in backing you,\u2019\u201d Piercy explains), they hired design firms to create their logo and website. The goal was to launch their debut collection at<\/span> Spirit of Christmas<\/span><\/a>, one of the biggest Christmas shows in London, at the end of October 2017.<\/span><\/p>\n\n\n\n

\u201cIt was total chaos,\u201d Piercy says. But they got the collection done in time, and even managed to follow the show with two more. <\/span><\/p>\n\n\n\n

It helped that Lopes had been working with a manufacturer in China since her Austique days, using modal, a sustainable fabric made from beechwood trees, to develop the perfect pair of buttery-soft knickers. \u201cWhen she was running her shop, everyone said, \u2018You\u2019ve gotta get the brand Hanky Panky in,\u2019\u201d Piercy tells it, in reference to the lingerie line. \u201cAnd then she was amazed at these women who came in and bought armfuls of them at <\/span>\u00a3<\/span>20 a pair.\u201d<\/span><\/p>\n\n\n\n

\"\"
Stripe + Stare co-founder Nicola Piercy and her puppy take a break at London’s WeWork 184 Shepherd’s Bush Rd.<\/figcaption><\/figure>\n\n\n\n

So Lopes set out to make her own knicker equivalent. Now her skivvies, which have been tweaked over the years, are the company\u2019s best-selling items, available in more than 30 boutique locations across the UK, U.S., and Germany, and on <\/span>Shopbop<\/span><\/a>. <\/span><\/p>\n\n\n\n

\u201cThe knickers are what everyone gets excited about at all the shows,\u201d Piercy, a member at <\/span>WeWork <\/span>184 Shepherd’s Bush Rd<\/span><\/a> in London, says. \u201cThe moment anyone feels them it\u2019s like, \u2018Oh my god, this fabric is insane!\u2019\u201d This year, Piercy and Lopes started manufacturing all of their products, with the exception of cashmere sweaters, using modal. \u201cIt is the best fabric,\u201d she says. \u201cSo why use anything else?<\/span><\/p>\n\n\n\n

Below, Piercy shares the details of a recent workweek.<\/span><\/p>\n\n\n\n

Monday<\/strong><\/b><\/p>\n\n\n\n

7 a.m.<\/b> I get up to let out my 4-month-old puppy, Penfold (she\u2019s named after the wine). Shower, change, have a cup of tea, and walk out the door.<\/span><\/p>\n\n\n\n

7:45 a.m.<\/b> Head to Ravenscourt Park to take Penfold for a walk. I usually listen to podcasts such as<\/span> Holly & Co<\/span><\/a> or<\/span>Business of Fashion<\/span><\/a>\u2014I always learn something hearing other entrepreneurs\u2019 stories.<\/span><\/p>\n\n\n\n

8:45 a.m.<\/b> Arrive at WeWork, grab a coffee and some breakfast (fruit and cereal), and head to my desk.<\/span><\/p>\n\n\n\n

9-10 a.m.<\/b> Catch up on email. <\/span><\/p>\n\n\n\n

10 a.m.<\/b> Call with Katie. Although we speak about 10 times a day, this is our \u201cofficial\u201d time to go over things. We talk about what happened last week, what\u2019s happening this week, sales targets, financials, production, PR, and marketing.<\/span><\/p>\n\n\n\n

11 a.m.<\/b> Emails. We raised <\/span>\u00a3130,000 <\/span>before Christmas by going directly to happy customers.<\/span> Now I\u2019m able to email all the shareholders their share certificates. <\/span><\/p>\n\n\n\n

We\u2019re using the service<\/span> SeedLegals<\/span><\/a> for the process, which saved us thousands of pounds and the headache of dealing with lawyers. So many new platforms like <\/span>Xero<\/span><\/a> (accounting),<\/span> Vend<\/span><\/a> (point of sale), and<\/span> Shopify<\/span><\/a> (e-commerce) make our lives easier.<\/span><\/p>\n\n\n\n

12:30 p.m<\/b>. Walk Penfold and grab some lunch from the salad bar downstairs.<\/span><\/p>\n\n\n\n

1-2 p.m.<\/b> Chase any of our unpaid accounts, reconcile money, pay bills. We have an accountant, but I do this day-to-day so I have a tight handle on everything at all times.<\/span><\/p>\n\n\n\n

2-3 p.m.<\/b> Go through all of our sales reports and learn that we\u2019ve sold 13,000 pairs of knickers so far this year! <\/span><\/p>\n\n\n\n

3 p.m.<\/b> Penfold gets fidgety, so I decide to head home and carry on from there.<\/span><\/p>\n\n\n\n

5 p.m.<\/b> Katie arrives from Devon, where our head office and warehouse are based, and where she lives. She comes up to London every couple of weeks, and I go down every few months. The distance (a 4.5-hour drive) is not the most convenient, but cloud systems make it manageable\u2014and everything is cheaper there.<\/span><\/p>\n\n\n\n

5-10 p.m.<\/b> We prepare for a big meeting we have tomorrow with<\/span> Selfridges<\/span><\/a> [a high-end UK department store]. Knickers and clothes are strewn all over the place as we try to assemble them into sensible piles. We need to be able to pull them out of the bag in order, labeled, and looking great at our meeting with the buyer. <\/span><\/p>\n\n\n\n

In December, we sent some knickers to Selfridges creative director Alannah Weston, and her office called us immediately asking us to come and meet the buying team. We told them we wouldn\u2019t have our collection for the year until the end of January, so we\u2019ve been working hard on the sample collection for months. Fingers crossed!<\/span><\/p>\n\n\n\n

Tuesday<\/b><\/p>\n\n\n\n

8:45 a.m.<\/b> After taking Penfold for a long walk, arrive back home and smarten myself up. Katie and I jump on the tube and head into town.<\/span><\/p>\n\n\n\n

9:45 a.m.<\/b> Arrive at Selfridges HQ ready to meet Rosie from the Body Studio team, which does lingerie, sleepwear, and more. To win Selfridges as a wholesale account would be a big deal. It would place us amongst the great brands.<\/span><\/p>\n\n\n\n

10-11 a.m.<\/b> Have a great meeting with Rosie. She loves everything and completely gets the brand. You need all your numbers at your fingertips in these meetings. The product makes up 50 percent of the pitch, and then the margin, terms of trade, promotional strategy, etc. make up the other 50 percent.<\/span><\/p>\n\n\n\n

Promotion-strategy-wise, if I let Katie have her way, Gigi Hadid would front our next campaign. So I have to keep tight control [of the budget]. We need to spend on promotion without breaking the bank.<\/span><\/p>\n\n\n\n

\"\"
\u201cThe knickers are what everyone gets excited about,” says Stripe + Stare co-founder Nicola Piercy.<\/figcaption><\/figure>\n\n\n\n

11:15 a.m.-12 p.m<\/b>. Meet Alannah Weston\u2019s executive assistant, Charlotte, who takes us on a tour of the beautiful offices. <\/span><\/p>\n\n\n\n

12-3 p.m<\/b>. After stopping by my house to pick up Penfold, I meet with Ruth at Indian Summer, a top independent store in London. She\u2019s been buying from us since the beginning, so it\u2019s more a lovely chat and a gossip over clothes and knickers. Great to be in these meetings\u2014you get feedback and find out your bestsellers.<\/span><\/p>\n\n\n\n

4-5 p.m.<\/b> Head to The Cross in Notting Hill, to show them the new collection. It’s a London institution, so it\u2019s a real badge of honor to be stocked here.<\/span><\/p>\n\n\n\n

6 p.m.<\/b> Get home exhausted but elated. It\u2019s the first day we\u2019ve shown the new collection, and it\u2019s gone down really well. We\u2019re on a high.<\/span><\/p>\n\n\n\n

7 p.m. <\/b>We\u2019re both talked out so we go and see the movie <\/span>The Favourite<\/em><\/span><\/i> to spend a couple of hours not discussing work.<\/span><\/p>\n\n\n\n

Wednesday<\/b><\/p>\n\n\n\n

9 a.m.<\/b> Get home after a yoga class, shower, and send a few emails before heading out the door.<\/span><\/p>\n\n\n\n

9:30-11:30 a.m.<\/b> Head into town to meet with the gynecological cancer charity Lady Garden. We did a<\/span> bespoke box of knickers<\/span><\/a> with them last year and donated \u00a35 of every box to them. This meeting is to catch up on sales figures, discuss where we could sell the rest of the stock, and talk about doing a new box this year.<\/span><\/p>\n\n\n\n

11:45 a.m.<\/b> Grab a quick lunch with my cousin-in-law.<\/span><\/p>\n\n\n\n

1-6 p.m<\/b>. Walk Penfold in the park and then write our newsletters for the week, letting our followers know about new stock and promotions. <\/span><\/p>\n\n\n\n

7:30 p.m<\/b>. Host a friend for supper.<\/span><\/p>\n\n\n\n

Thursday<\/b><\/h2>\n\n\n\n

7:30 a.m.<\/b> Penfold gets picked up for doggy day care and a run-around in the country. <\/span><\/p>\n\n\n\n

8:45 a.m.<\/b> Attend an event at Google\u2019s offices titled \u201cHow Will Artificial Intelligence and Machine Learning Affect Retail Marketers?\u201d It\u2019s an amazing presentation from the team at Google and some other industry experts. <\/span><\/p>\n\n\n\n

2 p.m.<\/b> Meet Robin Howard, who has just come on board as our chairman. We met him through Julian Granville, the chairman of the catalog company<\/span> Boden<\/span><\/a>. We initially went to Julian for investment, and he couldn\u2019t invest because it would have been a conflict, but he offered to go to regular breakfasts with us and be our unofficial adviser. So when we needed a chairman, he suggested Robin, who was a huge success at<\/span> Boden<\/span><\/a> for 25 years.<\/span><\/p>\n\n\n\n

So we met with Robin last year and just clicked. He\u2019s going to invest, but he wanted to see how we work together first. He\u2019s put loads of tasks together for us, like books to read. It\u2019s fantastic to have someone so experienced help us step back and look at the bigger picture, strategy, and what is and isn\u2019t working. <\/span><\/p>\n\n\n\n

5 p.m.<\/b> Meet with<\/span> Chloe Loves to Shop<\/span><\/a> to discuss a Valentine\u2019s Day promotion. It\u2019s so important to work with influencers who enhance your brand. She has 60,000 followers who are incredibly engaged. When she first posted about us, our sales went berserk. We were on [a major influencer’s] Instagram Stories recently, with millions of followers, and we got barely anything from it. So you\u2019ve got to find the people with the right engagement.<\/span><\/p>\n\n\n\n

7.30 p.m<\/b>. Walk to the local pub for supper with friends.<\/span><\/p>\n\n\n\n

Friday<\/b><\/h2>\n\n\n\n

9 a.m.<\/b> Head into WeWork with Penfold after a walk in the park. <\/span><\/p>\n\n\n\n

9:30-10 a.m.<\/b> Catch up with a merchandising agency that\u2019s helping us with a new display concept. The idea is to create a beechwood tree where we can hang our knickers and packaging\u2014that way people can instantly see the provenance of the fabric. It will be fantastic to take to events.<\/span><\/p>\n\n\n\n

10 a.m.<\/b> Receive an email from Selfridges saying they love our products and we should receive a purchase order next week! Best news ever<\/em>! They want to launch ASAP, so there is going to be a lot to plan, from a launch event to ensuring the product comes in on time.<\/span><\/p>\n\n\n\n

11 a.m.<\/b> Get a call from Katie, who is having a meltdown\u2014our part-time warehouse manager is on holiday and Katie cannot cope with all the orders coming in from Instagram coverage we\u2019ve gotten from <\/span>Dolly Alderton<\/span><\/a>. Exciting times, as we now need to consider hiring more staff, but taking steps like this is always scary\u2014you\u2019re committing to bigger monthly overheads.<\/span><\/p>\n\n\n\n

12 p.m<\/b>. I always use Friday afternoons as a tidy-up and planning day. <\/span><\/p>\n\n\n\n

When you have your own business you have to be prepared to be involved in all areas of it. I\u2019m also quite optimistic, and that always helps if you’re an entrepreneur. You can\u2019t get down when something awful happens or things don\u2019t go as expected. Just stay positive and passionate about what you do.<\/span><\/p>\n\n\n\n

5 p.m<\/b>. Leave the office at a reasonable time!<\/span><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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