How sewing her first pair of pants led Stacey Bendet into a multi-million dollar fashion career
Growing up in New York City perhaps contributed to Stacey Bendet's love of quirky yet sophisticated fashion. Stacy, still in her early thirties, turned her eclectic fashion sense into a $200 million dollar clothing line, starting with one pair of now very famous pants, known as Staceypants.
While studying International Relations at the University of Pennsylvania Bendet had amassed piles of lady's denim jeans. But her fashion sense took her beyond any pair of pants in her closet, or for that matter in stores. She seemed to be constantly searching for that perfect pair of pants that were both sophisticated and playful at the same time.
How to become a millionaire in the clothing industry and make big money
Clothing is one of the three essentials of life; food, clothing and shelter. Creating a product or a new line of products in the clothing and fashion industry has led to incredible wealth creation for many entrepreneurs. Stacy Bendet is one of them.
Tired of searching and not finding, Stacy eventually set about designing her own pair of pants for which she became somewhat famous. What she ended up with were a pair of bold striped bell bottoms which quickly became her favorite pair of pants in which to roller blade through the city streets.
While her parents were hoping she would go on to attend law school or, perhaps take a job on Wall Street, Stacy was being pulled by her natural desire to create. The thought of attending law school, over vintage shopping and designing clothes, was not very appealing.
The fact that Stacy's first pair of "Staceypants" were an absolute hit among her friends, helped push Stacy headlong into the world of fashion design. Stacy's focus was to design pants using interesting fabrics, an ultra-flattering look, and a stylish retro vibe. Stacy's clothing line Alice + Olivia was ultimately launched at Barney's in New York in 2002, and was a hit. After Stacey Pants came a line of cashmere sweaters and eventually a mens wear line called Anthony + Mo.
Creating wealth by taking her clothing designs nationwide and then International
Stacy Bendet's designs can now be found in over 800 stores nationwide, as well as a number of standalone, Alice + Olivia Boutiques. In 2015 the Alice + Olivia clothing line is pulling in upwards of $200 million in sales annually and is worn by a number of celebrities to include; Angelina Jolie, Gweneth Paltrow, Jennifer Lopez, Dakota Fanning, Taylor Swift and Blake Lively.
The brand is now on track to open 15 stores a year through 2018 with an eye on 50 international stores and 25 in the U.S.
Stacy's success proves once again that fresh creative ideas- coupled with sound marketing, can propel one from a place of ordinary income to a place of unimaginable wealth in a relatively short amount of time!
Ways to make money- talking points
Stacy’s million dollar success is very similar to Robyn Collar’s business success in that each started out with nothing more than a sewing machine and raw fabric. Each carved out a multi-million dollar business and income by creating a product or line of products that filled their own needs, and also appealed to the needs and desires of thousands of consumers.
Remember this, one of the best ways to make extra money is to develop a product or service that people want and need. Put on your thinking cap and start brainstorming. Stop focusing on just making money, and start focusing on filling needs in the marketplace.
If you would like a more in depth look at how Stacey Bendet started and build her business, this 2015 interview in Business of Fashion is very informative. In fact, the interview is part of the Entrepreneur Course from BoF Education available free online.