The Glossy Podcast

Vanterra Capital was better positioned than many businesses going into 2020.“The pandemic just pushed us to double down on our thesis,” said Steven Himmel, partner at Vanterra Capital, on the latest Glossy Podcast. “Everything that we were focused on before is even more relevant today.”With its venture-specific fund, launched about two-and-a-half years ago, Vanterra invests in mission-driven consumer companies, which on the fashion side include Naadam. “A big focus for us is what we call the ESY [Investing]: [companies that are] better for the environment, better for society and better for you,” he said.And those businesses are set to especially resonate in the post-pandemic world: “As the media cycle scales down the Covid conversation, we believe it's going to scale up the conversations around better-for-the-environment initiatives... It will [create] more of a 360[-degree] awareness around: How are you living? That’s in terms of: What are you eating? How are you treating your body? How are you treating your mind?”Himmel broke down how that shift will impact Vanterra's future investments in fashion and beauty brands.

Heading up a startup, as opposed to a large corporation, has its pros and cons, said Mickey Drexler, the former CEO and chairman of J.Crew Group and CEO of Gap Inc. Today, Drexler is the executive chairman of Alex Mill. The fashion brand was founded in 2012 by his son, Alex Drexler, and Somsack Sikhounmuong, who formerly led design at Madewell. "When I started Old Navy, I had the bank of Gap to fund it… Then I started Madewell, which I owned the name of and sold to J.Crew, and [it was] the same thing: I had the bank of J.Crew,” Drexler said on the latest Glossy Podcast. “But with this business, there are no big banks. There's my bank and my son's bank; we don't have any investors other than us. And it's much more difficult.”Still, he said, “I love it. Because you're involved in every decision. You're looking at everything in detail. And you're micromanaging like crazy, which I like to do.”Rather than investors, Alex Mill has an "unofficial" board of directors, largely made up of people who work in the industry. “Understanding the fashion business is a rarity if you're not in it,” he said.While Alex Mill is not yet profitable, Drexler said business is “seven times what it was two and a half years ago.” And, he said, the company is getting ready to “step on the gas,” in terms of accelerating its growth. That includes linking with a marketing agency; adding to the company’s one store, in NYC’s SoHo; getting inventory right and continuing to sell at full price.“If we weren't direct-to-consumer, the goods we sell would all be marked down somewhere,” he said. “The most successful department store today is TJ Maxx.”

When Paige Mycoskie launched 15-year-old fashion brand Aviator Nation, she was looking to solve her own pain point.“I was most excited to wear vintage clothing -- stuff that was made in the ’70s and early ’80s. And so I found myself looking for clothes at flea markets and thrift stores. But it’s not easy to find good T-shirts from the ’70s,” she said on the latest Glossy Podcast. “I’d spend a whole day looking for one T-shirt. Then it dawned on me: ‘Why don’t I learn how to make this?’ So I started sewing clothes for myself and I taught myself how to screenprint within a couple of weeks.” That led to a buyer from Fred Segal placing a hefty order, solely based on the shirt that was on Mycoskie’s back. And the brand took off from there.In the last year, with staying home being the norm, the level of comfort that comes with wearing a vintage-inspired T-shirt has been in demand. Brands have been adjusting their product offerings accordingly, which has meant new competition for Aviator Nation.But Mycoskie isn’t concerned: “Now that athleisure is such a big deal, people are [OK with wearing] a tracksuit or a sweatsuit pretty much anywhere they go,” she said. “It obviously works to my benefit -- but it’s definitely what we’ve been doing since day one.The L.A.-based company now has 13 brand stores, and 90% of its sales are direct-to-consumer. Mycoskie said more stores are on the way. “When my friends ask me about business, one of the things I always say is to just go for it,” she said. “Don’t waste too much time on the details; just put it out there.” 

When Karla Welch and Clea O’Hana launched fashion styling app Wishi in 2019, the idea was to democratize the fashion styling experience, which is usually reserved for celebs.“Karla’s dream was to bring styling to everyone,” O’Hana said, on the latest Glossy Podcast. “It’s a great partnership -- because I had the technology and the business idea, but I didn’t have the styling or the fashion part of it…[Together] we’re replicating the relationship that she has with her clients, online.” Welch has 20 years of experience as a stylist; her clients to date have included Justin Bieber, Tracee Ellis Ross and Karlie Kloss, among others. Meanwhile, O’Hana’s background is in business and finance, though she’s worked in merchandising for fashion companies including Net-a-Porter and Belstaff. In February, Wishi secured a partnership with Farfetch, granting the retailer's high-spend loyalty members access to Wishi’s styling services. (Typically, clients pay Wishi $40 to be styled in two looks and $90 for five looks -- stylists are not paid on commission.) Thus far, the partnership has revealed some interesting data points. For one, customers who take advantage of the service are returning fewer items. “When you're shopping for yourself, and you don't have the eye or the confidence, or you're not sure [about] the fit, you overbuy, and then you send things back,” said Welch. “It’s a huge waste environmentally, and it's really damaging to a lot of businesses.”Wishi is getting the word out about its services via its Style Council of stylists, who promote their bookings. It also invests in digital marketing and Google search. “[However] people are looking for this service now; there's really a lot of demand,” said O’Hana. “We don't have any problem marketing it.”

When Carolyn Murphy started modeling, she didn’t have a long-term plan. But thirty years later, her career is still going strong. “I didn't develop a business sense … until much, much later [in my career] -- probably until after I gave birth to my daughter,” she said on the latest Glossy Podcast. “And it was like, ‘Oh! I'm a mom, and I've got to get it together.’This year, Murphy is celebrating 20 years as the face of Estee Lauder, making her the longest-reigning spokesmodel in the industry. Among her latest jobs was walking in the Michael Kors 40th anniversary runway show, for fall 2021, which played out online last week. “There's a lot of dialogue around what's going to happen to fashion week [after] Covid, and there are adaptations that have taken place -- it's been more about filming,” she said. “But I hope that actual fashion week does come back. Because, no matter what, connection is so important; we're all stronger and happier together.”Murphy’s career took off in the mid-’90s, when she landed a French Vogue cover, followed by a Prada campaign shot by David Sims. Soon after, she booked an American Vogue cover with models Shalom Harlow and Amber Valletta. “Then I started working with [photographer] Steven Meisel, and it just all took off,” she said.She’s since found smart ways to build on her modeling career: She’s collaborated on products with Shinola and has a new collab with Mother Denim that’s getting set to roll out. Also coming soon is “an online journalistic magazine of sorts,” which she’s calling “Mama Murphy’s,” for the time being. Plus she’s working on two books, including a fiction novel.  “I never really want it to be about me,” she said. “I always want to pay it forward; I want to do things that have purpose and meaning.”

The team behind 120-year-old Saucony is no stranger to the competition in the running shoe market. But within the last year, as former gym rats took up running and more brands entered the space, they’ve been stepping up their game."The running boom is real,” Anne Cavassa, president of Saucony, said on the latest Glossy Podcast. “So we're making sure that we're connecting and engaging with consumers where they're at -- whether that's around what shoes they need, what their training should look like, what their diet should look like. When it comes to [anything] around the running lifestyle, we've been working on it from a communication perspective and from an inspirational perspective.”At the same time, the brand has continued to roll out innovative launches, including its “most eco-friendly shoe ever,” the Jazz Court RFG sneaker, in March. According to Cavassa, being one of 12 brands under the Wolverine Worldwide umbrella enabled Saucony to be “nimble and agile,” which was required throughout last year. Access to its “back-of-house systems and resources” proved invaluable, as did learnings from fellow WW brands, including Keds and Sperry. “We were able to [compare] what was working and what wasn’t, and … to communicate on how to [best] respond during the crisis,” she said.

More than 100-years-old, Moscot's Lower East Side store is decidedly a New York institution. And worldwide, the eyewear company has 15 retail locations. But that's not to suggest that physical retail is the company's sole focus."We started our transition [to go] fully into digital several years ago," Zack Moscot, a fifth-generation Moscot and the company's chief design officer, said on the latest Glossy Podcast. "So when the pandemic hit, we were able to pivot and really step on the gas when we needed to."Along with the company's direct-to-consumer sales channels, it has wholesale distribution in Europe, retail partners in Asia and "selective distribution" through retailers in the U.S. "We partner with those that help tell our story, and understand who and what we are, and don't view us as just another eyewear brand," said Dr. Harvey Moscot, a fourth-generation Moscot (Zack's father) and the company's CEO.The company's history is a key differentiator, said Zack Moscot. "Very few businesses, especially in America, make it to the fifth generation and keep it in the family," he said.And the company is just as selective about where it sets up its own shops."We get offered opportunities in malls. We just never felt like we could really portray ourselves in a mall environment," said Dr. Harvey Moscot. "Where we have the opportunity to select a location that feels right for the brand, that reminds us of the Lower East Side in New York City -- which happened in London, which happened in Amsterdam -- those are the areas that we seek. It's those kind of creative epicenters."

Arezzo & Co. CEO Alexandre Birman is prepared to handle a rough 2021.“The first half of the year will be very challenging,” he said on the latest episode of the Glossy Podcast. “It's not going to be easy. And who is going to survive is not the strongest, but the most adaptable. So we have to be very prepared to adapt.”The company managed just fine in 2020, emerging relatively unscathed though big changes were necessary. Those adjustments, including putting its 6,000 store employees to work as digital sales associates, set it up for a strong start to 2021. Though 80% of its stores are now closed due to pandemic-related restrictions -- they’re largely located in the company’s home base of Brazil, where the vaccine has been much less widely distributed -- it finished March with 70% of the revenue it earned in March of 2019.“That's decent," said Birman. "It’s going to be a gradual rebound."Brazil-based Arezzo & Co. owns six shoe brands and the distribution license for Vans in Brazil. In the fourth quarter of 2019, it expanded its focus to clothing by acquiring apparel group Reserva Group and 75% of online luxury resale platform Troc.Birman discussed the company’s investment strategy, as well as its future plans for physical retail and expansion in the states.

Athleta chief product officer Jana Henning described 2020 as both “a blockbuster year” and “a rollercoaster.” The company managed to do $1 billion in sales, even with amid pandemic-driven obstacles.“I credit our success last year to listening to our teams and listening to our customer,” Henning said on the latest episode of the Glossy Podcast. “We really put them at the center of everything we do, and that's been good for business.”Responding to that feedback meant quickly entering new product categories, including sleepwear and masks, and offering more sizes. As of January 2021, Athleta offers sizes 1X-3X in 70% of its styles. The company also leaned into styles that were selling, resulting in a record year for leggings.Henning, who’s been with Gap Inc. since 2010, said Athleta was well positioned going into the pandemic due, in part, to its brand values.“They really resonate with our customers and what's happening in the zeitgeist right now,” she said. “Athleta is a B Corp, we are committed to empowering women and girls to really reach their limitless potential, and we are committed to inclusivity by design -- really thinking about how we can invite as many different women and girls into the brand as possible.”This year, the company plans to open 20-30 stores, and it’s projecting $2 billion in annual sales by 2023.

When sisters Kendall and Libby Glazer launched Stoney Clover Lane in 2009, Kendall was 17 and Libby was 15.“The brand you know today is not the brand that started Stoney Clover Lane,” said Kendall Glazer on the latest episode of the Glossy Podcast. “It started as beaded bracelets. It was a hobby. But we always kind of had this business mindset. We took something that so many other girls were doing and went through the motions of turning it into a business.”Today, Stoney Clover Lane is known for customizable lifestyle accessories, from makeup pouches to duffel bags. It has around 100 employees and is getting set to launch its fifth and sixth stores. Despite travel being put on hold, negating hot sales moments for the brand like spring break, Stoney Clover Lane had a successful 2020, with 200% sales growth.Glazer owed the strong sales, in part, to the brand’s strong community. “They've always been engaged,” said Glazer. “And in the last year, we did more to engage them, with crowdsourcing and just making ourselves more accessible.”Glazer also discussed Stoney Clover Lane’s 2021 plans, including collaborations and its retail expansion.