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Rebecca Minkoff on the Key to Success: Start Small

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    Fashion designer Rebecca Minkoff on the success of her brand.

  • Duration 4:05
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Speaking at ten years over the past ten years despite recession my next guest was able to see.

Triple digit growth and -- her name into a luxury retell brand and it's a big -- -- Anything out this week small business big ideas fashion designer and creative director -- -- sick friend.

Rebecca human -- it's -- CEO thank you Paul haven't always been a manager.

Your entire line.

But you really.

It from a business perspective we're so Smart and cutting prices during the recession -- -- your competitors.

Didn't do that do you regret that decision.

Not at all in fact because of that it took a little bit of a -- let's say we cut prices in July by October reading really saw the results.

And I think it gave us the ads on our expansion and I think are retailers and our customer.

Really appreciate it and we've seen that -- taking us and our breath.

So they've been loyal to you because of that and women are loyal shoppers obviously about some your bag -- with you and these bags that that you brought in studio or -- notes to 400 dollar -- American women that might be a little.

Expensive -- -- -- that price point issue that so many retailers like yourself have to.

Don't -- the designers have to -- I think that what we do is we have something for everyone so we have items that retail for as little as thirty dollars you know anything at -- or you can get a iPhone case.

And then it goes all the way up the scale so you can buy an opening price point -- for a 195 dollars which.

Most anyone you know they say -- pennies can actually back.

OK let me ask you about this in -- -- very active in social media probably more so.

In many of the other designers and CEOs they've had on the -- mean you've got a website for your fans -- -- yet you've got.

You're crazy on Twitter your FaceBook everything I mean how how much a social media helped you do you think with a brand -- I think it is one of our most important pillars of the -- and early when -- -- was just getting started it was something that I was able to directly connect with my consumer.

And hear what she wants in a -- earned her clothing.

And really know and tailor her needs so for -- it's it goes right along with our business we think about it every day.

I -- small business big ideas because really and you've got your your -- could.

The lines -- -- and Saks Nordstrom's and Bloomingdale's I mean these are the biggest names in the business you got access to basically -- American.

Market what advice would you give to someone that is building a small business right now but most of you someday -- I'd say that you really want to focus on your small independent boutiques in the beginning.

Really start grassroots that's how we started and when you have a -- recognition -- from the departments are -- are able to support your business.

So start small and then eventually you'll get.

Finance give us TS to consumer partners to -- a stake in the company was not hard I don't think that it.

Your name is on the company it's hard to kind of let -- of -- little piece of control act but it wasn't it.

I think it would be hard if if we didn't feel like they -- the right thing but they're such an amazing company and they've really said you are the designer we down you know now -- -- we trust you can now.

This is your area it's at 68.

So for me it's like just having another person -- roundtable that's there to support us.

You also want to open up.

It your own stores which many Cynthia Rowley has done that -- first America mean on and on there's a lot of it's just one -- -- -- what have you learned from them you think we'll help you did you -- to go to this next eight weeks I think.

Were able to attack and said there ability to know where to go you know how to position storm -- consumers you know want to and understand perhaps.

He ended designer you did you do you have to think that way and in as much as the -- a -- a Reuters on our show last year she was saying.

That it was a big transition for a go from being just the creative -- to being the business type in that she was still learning every day she said.

How to kind of address.

Sales numbers and charts and figures I mean you cut it got the same thing that you and yes I'm lucky in my business partners my rather so he has to worry about that charts in the numbers and I -- to be creative but it's really turning your art into -- Rebecca and a couple of great and have -- -- -- fashion designer and again all the stores across the country align this year thank yep and can't.

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