Starting a business can be a daunting task and no-one knows that better than an entrepreneur. Entrepreneurs have a vision and it’s their goal to see that vision through to success. In the case of Sofia Amoruso she did just that. Her business Nasty Gal, an Online Retailer, was named the ‘Fastest Growing Retailer’ by INC Magazine in 2012. In addition, INC called her one of the five entrepreneurs to watch out for in 2013.
From the very beginning, Amoruso’s interests lay in vintage female fashion. This interest sparked her to set up an eBay store where she would sell old pieces of clothing. She decided to make this store a collage of all the things she loved and called it Nasty Gal Vintage. It was Amoruso’s sheer love for what she was selling and her keen eye that made her realise that a jacket she bought for $8 was in fact Chanel, and she sold it for $1500. Interest, love and dedication guided her.
To make her name bigger and her store more well-known; Amoruso thought about how she could speak to fans and possible customers. She sought out social networking and used MySpace where she generated over 60,000 friends. The social networking aspect to the business played a huge part, so much so that it made Amoruso decide to remove Nasty Gal Vintage from MySpace and create her own website www.nastygal.com. There, the selling became a business where she hired Christina Ferruci as the Buying Director.
Nasty Gal Vintage became Nasty Gal and continued to grow. By 2010, Amoruso and Ferruci had set up a headquarters in Los Angeles and the company attracted investors with $9 million starting capital and $40 million to follow. Two years later, Nasty Gal had opened another distributing centre in Kentucky and employed over 110 people. The final big addition to the company was the employment of Sarah Wilkinson from ASOS who joined as the company’s Vice President of Design.
Amoruso has always talked about the importance of social networking when it came to her business becoming what it is today. If it hadn’t been for her reaching out to fans and customers on MySpace, Nasty Gal may have just remained a small eBay store run by one woman who was taking pictures and writing product specs. In addition to social networking, Nasty Gal was all about one woman’s love for fashion. That coupled with a business savvy mind led to her success.
Amoruso’s premise to success within business is simple. She says, “my philosophy is that you sell things for more than you bought them.” Short, sweet and fairly rudimentary, but obviously effective, as it is the philosophy that led her to the top.