Good American was launched in October 2016 by CEO Emma Grede and her friend and business partner Khloe Kardashian. What began as the greatest denim launch in history (the brand notably sold $1 million worth of merchandise in a single day) has evolved into a fashion line with hundreds of millions of dollars in sales.
Grede is also a founding partner in Skims alongside Kim Kardashian, a brand whose worth was just doubled to $3.2 billion, and a green cleaning firm, Safely.
She invests in entrepreneurs on ABCs Shark Tank, which is currently in its 14th season, and enjoys life in Los Angeles with her husband, Swedish entrepreneur Jens Grede, and their four children when she is not creating and running enterprises.
Being featured on Shark Tank has made me one of the most popular mothers at school. Grede tells Entrepreneur. I had no clue how many youngsters watch Shark Tank. My youngster stated that his buddies believe he is lying about me being on the show.
Here, Grede discusses her life as a CEO and what we might expect to see on Shark Tank this season with Entrepreneur.
Why Did You Decide To Invest in A Public Platform Like Shark Tank?
When they originally approached me, I was quite hesitant. However, it is crucial to me to encourage female and minority founders, therefore it made natural to use this platform to highlight these entrepreneurs. Weve never seen so many Black women entrepreneurs on the show, and its been overwhelmingly favorable.
The power of television, right? We, as a brand, are so heavily invested in digital and D2C (Direct-To-Consumer) that it is gratifying to see entrepreneurs succeed on this platform. Ive enjoyed interacting with entrepreneurs and investing in women whose ideas are in their infancy.
What Do You Enjoy Most About Being a Part of The Show?
Working with the business owners! It is absurd how quickly you forget how difficult things were in the beginning.
What Might We Anticipate from You This Season?
Another stunning appearance! In all seriousness, I entered Shark Tank with a specific objective. I was interested in investing in women and Female-Centric concepts that other investors may not view as winners.
It is so difficult to obtain capital, enter a room with a female-centric business, and pitch a plus-size consumer to a group of men in suits in New York. How would I convince these individuals who are unaware of the problem to invest? I considered my own path and pondered how I could assist these entrepreneurs.
When Investing in Entrepreneurs, What Do You Look For?
I am extremely founder-focused. There are plenty of individuals with brilliant ideas. Few individuals are capable of turning an idea into a $100 million enterprise.
How Many Employees Do You Oversee As CEO of Good American?
I just finished my management meeting! I oversee 12 direct reports, some of whom require more oversight than others. In all seriousness, I have an outstanding management staff. I dont micromanage. I believe it is essential to hire the most talented individuals and then get out of their way.
What Do You Focus on A Daily Basis?
When I consider my role, I am primarily concerned with strategy and product. And, naturally, hiring. Hiring. Strategy. Product. Hire the proper people and then stay out of their way. I do not have expertise in negotiating film contracts, but I employ the proper individuals who do.
Although the Kardashians have tens of millions of followers and practically pioneered the current profession of influencing, they are also tabloid fodder. How have you navigated the external noise and maintained brand-centricity?
In any business, distractions are unavoidable, but I am not easily distracted. Every day, I concentrate on making our mission and purpose a reality. Ensuring that stores carry the complete size range.
Ensuring that all of our actions serve to promote inclusion and diversity. There will always be jarring moments for founders, but you must remain committed to your vision. Once, Khloe can convince a consumer to make a buy. People will not return to purchase $150 jeans if the product is ineffective.
We never deviate from our mission. We offer the greatest product in its class. Kris, Kim, Khloe Yes, they are extremely well-known women, but they are also businesswomen. And they are conducting business. They do not simply put their names on these products. We converse daily.
Did you receive any negative feedback from industry veterans or people who cautioned you against taking this approach when you originally debuted and knew that your brand would be fully inclusive and that you would require merchants to carry the full-size range?
There were numerous skeptics. I did not return to the task, but I also desired to make a profit. I am a woman from East London who had to earn money. I believe that what was initially so frustrating was the lack of those who recognized the necessity.
Women at a particular end of the size spectrum were just disregarded. 67% of women in the United States are categorized as Plus-Size. I never doubted for a moment that this was a feasible business concept.
We could have focused on direct-to-consumer sales, but we recognized that a combination of direct-to-consumer, wholesale, and retail would provide the best customer experience. We were fortunate to discover excellent partners.
Whats Next for The Expansion of Good American?
We will soon launch our very first store in Century City, California. It is now under construction and will likely open the following year. Im very happy for everyone to see how we can make the store truly inclusive.
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