From Wall Street Wizard to Handbag Heroine and the Pop-Up Retail Revolution
Handbag Designer 101: The Stories Behind Handbag Designers, Brands, and Industry Icons
From Wall Street wizard to handbag heroine, Melissa Gonzalez, the mastermind behind The Lionesque Group, graces our podcast with a tale proving passion and business acumen can coalesce into something extraordinary. Her story is one of transformation, trading the stability of finance for the thrill of independent design, without losing the analytical edge that once defined her career. Listen closely as Melissa imparts the lessons learned from her roots with The Lionesque Media through the evolution of The Lionesque Group, illustrating that a compelling narrative is as crucial as the numbers in your spreadsheet.
Venture into the bustling world of pop-up retail, a realm where Melissa has left an indelible mark through her innovative approach to space and consumer engagement. Discover the secret sauce that Melissa was involved with more than just entertainment—they were the catalytic forces behind her leap into media production and the transformation of street-level retail into immersive, pop-up experiences. As we navigate the complexities of these pop-up ventures, from payment models to PR imperatives, we gain insight into the new post-pandemic retail landscape, ripe with opportunities for those ready to feed the consumer's hunger for the novel.
Finally, absorb the wisdom gained from the trenches of entrepreneurship—where customer service reigns supreme, and owning one's errors can forge a brand of steel. In the spirit of strategic focus, we unravel the story behind the 'Lionesque' name and the agile pivots it took to stay true to brand identity. Melissa doesn't shy away from discussing the rollercoaster ride of investor relations, the emotional weight of business pivots, and the triumvirate of timing, team, and ideas that constitute success. As we close, Melissa offers a sneak peek into her role at MG2 and her podcast 'Retail Refined,' a treasure trove of industry insights waiting for those eager to refine their understanding of the retail universe.
Follow Melissa:
https://lionesquegroup.com/
https://www.linkedin.com/in/melissagonzalezlionesque/
https://mg2.com
Youtube: / Handbagdesigner101-ihda | Instagram:/ Handbagdesigner
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WEBVTT 00:00:00.861 --> 00:00:18.146 <v Emily Blumenthal>Hi and welcome to the Handbag Designer 101 podcast with your host, emily Blumenthal, handbag designer expert and handbag fairy godmother, where we cover everything about handbags, from making, marketing, designing and talking to handbag designers and industry experts about what it takes to make a successful handbag. 00:00:18.146 --> 00:00:27.169 <v Emily Blumenthal>Welcome, Melissa Gonzalez, to Handbag Designer 101, the podcast. 00:00:27.169 --> 00:00:37.408 <v Emily Blumenthal>I'm the principal of MG2, founder of Lionesque Group, of independent handbag designer world recovering independent designer life. 00:00:37.408 --> 00:00:39.185 <v Emily Blumenthal>How are you welcome? 00:00:39.185 --> 00:00:40.424 <v Emily Blumenthal>So happy to have you. 00:00:41.281 --> 00:00:42.847 <v Melissa Gonzalez>Yeah, thank you so much for having me. 00:00:42.847 --> 00:00:44.966 <v Melissa Gonzalez>I'm glad we're able to do this before the end of the year. 00:00:46.182 --> 00:00:47.447 <v Emily Blumenthal>Oh, yeah, I didn't even think of that. 00:00:47.447 --> 00:00:55.363 <v Emily Blumenthal>You know, when you work for yourself on, you know, I think, lean and mean, there is no such thing as the end of the year. 00:00:55.363 --> 00:00:57.185 <v Emily Blumenthal>It's just it keeps going. 00:00:57.185 --> 00:01:01.545 <v Emily Blumenthal>And oh, by the way, it's the next year, the next day, yeah for sure. 00:01:01.545 --> 00:01:07.763 <v Emily Blumenthal>For those who don't know you, I mean, I know you, I followed you, I had been following you forever. 00:01:07.763 --> 00:01:08.959 <v Emily Blumenthal>What? 00:01:08.959 --> 00:01:09.662 <v Emily Blumenthal>How? 00:01:09.662 --> 00:01:16.719 <v Emily Blumenthal>You had a platform 200,000 million years ago called Linus Media, correct? 00:01:16.719 --> 00:01:19.808 <v Emily Blumenthal>But it started, yes, yes. 00:01:19.808 --> 00:01:28.082 <v Emily Blumenthal>So how did you stumble into the world of independent designs, selling them, finding their value in that? 00:01:28.082 --> 00:01:32.408 <v Emily Blumenthal>And, of course, we will wrap up with is there still value in that? 00:01:32.408 --> 00:01:33.971 <v Emily Blumenthal>But let's get down and deep. 00:01:33.971 --> 00:01:37.829 <v Emily Blumenthal>So what is a tale called Melissa Sure. 00:01:38.060 --> 00:01:43.429 <v Melissa Gonzalez>So I have kind of like, because no road is straight, I have kind of you know, some twists and turns. 00:01:43.429 --> 00:01:47.108 <v Melissa Gonzalez>So background when I graduated college I worked from all streets. 00:01:47.108 --> 00:01:48.932 <v Melissa Gonzalez>So that's kind of how, where did you go? 00:01:48.932 --> 00:01:53.370 <v Melissa Gonzalez>I worked at Penn State University and then I worked at Credit Suisse. 00:01:53.370 --> 00:01:55.644 <v Melissa Gonzalez>Back then it was Credit Suisse, where's Boston? 00:01:56.326 --> 00:01:56.828 <v Emily Blumenthal>and our shop. 00:01:56.828 --> 00:01:59.246 <v Emily Blumenthal>Like people show you jealous of that. 00:01:59.246 --> 00:02:02.569 <v Emily Blumenthal>That's like one of those like fly back interview. 00:02:02.569 --> 00:02:04.947 <v Emily Blumenthal>I couldn't earn enough to pay my rent. 00:02:04.947 --> 00:02:08.067 <v Emily Blumenthal>I don't need to live with my parents for a shop, so well done. 00:02:08.086 --> 00:02:09.239 <v Melissa Gonzalez>Oh, thank you. 00:02:09.239 --> 00:02:16.963 <v Melissa Gonzalez>I did move out quickly from my parents out but my bedroom was like a converted dining room but whatever, I was in the city so I was excited about that. 00:02:16.963 --> 00:02:25.528 <v Melissa Gonzalez>But yeah, that was kind of my first introduction actually to retail because I worked in institutional fail and I was a generalist. 00:02:25.528 --> 00:02:44.286 <v Melissa Gonzalez>So I was sitting with management teams for you know everything from like BB in the gap to like you know fast growing internet companies and so you know back then was really immersed in the conversations to understand like vision and what made it work. 00:02:44.286 --> 00:02:47.068 <v Melissa Gonzalez>Then you know what were they projecting and all that. 00:02:47.068 --> 00:02:48.062 <v Melissa Gonzalez>Did you find that? 00:02:48.122 --> 00:02:48.824 <v Emily Blumenthal>interesting. 00:02:48.824 --> 00:02:50.942 <v Emily Blumenthal>Was it interesting I? 00:02:50.961 --> 00:02:59.611 <v Melissa Gonzalez>think that I find it more interesting as they look back than in the moment, just because I was always pulled to wanting to pursue something a little bit more creative. 00:02:59.611 --> 00:03:03.168 <v Melissa Gonzalez>So I think that didn't get allow me that full appreciation. 00:03:03.168 --> 00:03:18.786 <v Melissa Gonzalez>But I do recognize like at a very young age I was sitting at the table with really intelligent power player in various industries and having the opportunity to kind of like hear them and their vision and kind of notice trends and what was working out. 00:03:18.786 --> 00:03:19.486 <v Melissa Gonzalez>What was it working? 00:03:19.486 --> 00:03:20.950 <v Melissa Gonzalez>It was pretty valuable. 00:03:21.110 --> 00:03:21.913 <v Emily Blumenthal>So pull it forward. 00:03:21.913 --> 00:03:30.361 <v Emily Blumenthal>You were like 22 sitting at the table with grownups in retail and you were not in your head like oh okay, Like not even realizing that. 00:03:30.361 --> 00:03:33.108 <v Emily Blumenthal>You were like behind the curtain of retail odds, Like who knew. 00:03:33.688 --> 00:03:35.412 <v Melissa Gonzalez>Oh for sure that's wild. 00:03:35.412 --> 00:03:48.212 <v Melissa Gonzalez>Exactly Some of the people that I, you know, kind of took to meetings and things like that for sure were, I mean, c-suite level, and so but like me too, here's my business card. 00:03:48.212 --> 00:03:51.026 <v Melissa Gonzalez>Yeah, I can say that to them. 00:03:51.026 --> 00:03:57.752 <v Melissa Gonzalez>But so when I left, I went to pursue a creative path and how long were you dayjapping in finance? 00:03:59.199 --> 00:04:01.868 <v Melissa Gonzalez>I left finance officially in 2009. 00:04:01.868 --> 00:04:06.443 <v Melissa Gonzalez>I then graduated that 10 years before that, so you know. 00:04:06.443 --> 00:04:08.269 <v Melissa Gonzalez>But I also interned on Wall Street. 00:04:08.269 --> 00:04:11.068 <v Melissa Gonzalez>So I started my career actually in fixed income. 00:04:11.068 --> 00:04:17.752 <v Melissa Gonzalez>I was in retail government trade and then went to quantitative strategy that Morgan Stanley, and so that's sexy. 00:04:17.752 --> 00:04:21.985 <v Melissa Gonzalez>Yeah, now that you look back you realize actually it's pretty bad app. 00:04:21.985 --> 00:04:27.709 <v Melissa Gonzalez>But I, especially as a woman yeah, yeah, especially then too. 00:04:27.709 --> 00:04:44.444 <v Melissa Gonzalez>So you know, but I gravitated to storytelling and I think that's become like the kind of the happy, fair and dippin' path that I've led to now, because I have the foundation of understanding, like a lot of data coming at me and having to analyze that and then make recommendations from it. 00:04:44.444 --> 00:04:53.425 <v Melissa Gonzalez>But being able to come to the equity side really lived more in the stories of it, not just like the numbers of it, and so bringing that together and if I may. 00:04:53.444 --> 00:04:56.906 <v Emily Blumenthal>I'm sorry, I am really good at interrupting. 00:04:56.906 --> 00:04:57.829 <v Emily Blumenthal>People have told me. 00:04:57.829 --> 00:05:03.523 <v Emily Blumenthal>When you say the equity side, just to clarify what exactly that means, what does that mean for a heat level? 00:05:03.523 --> 00:05:04.285 <v Emily Blumenthal>Who are unaware. 00:05:04.846 --> 00:05:15.901 <v Melissa Gonzalez>Yeah, so like you can make fixed income investments or equity based investments where you're, what would be like the way you invest in the stock market on average when you buy shares into a stock? 00:05:15.901 --> 00:05:28.009 <v Melissa Gonzalez>That would probably be the most equivalent, but we were doing this at an institutional level, so my clients are more like hedge funds, the mutual fund wealth management that we're making minimum buy in the market. 00:05:28.009 --> 00:05:51.009 <v Melissa Gonzalez>So, but just like a person right here going to gravity, to the story of Peloton, where, you know you, the numbers matter too, but we got more immersed in storytelling about a bit as well, and so when I left, I wanted to pull forward more of that storyteller opportunity, and so it did start with Linus Media, which became Linus Group, as we can found ourselves, and in the beginning there was a big content portion of it. 00:05:51.680 --> 00:05:59.809 <v Emily Blumenthal>Well, because it's like were you like okay, I've been in finance for 10 years, I've saved some money and really I think I'm going to start my own company. 00:05:59.809 --> 00:06:03.966 <v Emily Blumenthal>That happens to be about independent designers and selling their products. 00:06:03.966 --> 00:06:11.565 <v Emily Blumenthal>Like that is a hardy chunk of the story, because, having done the same thing, there were very few of us who were trying to. 00:06:11.565 --> 00:06:23.526 <v Emily Blumenthal>You know, hey, I can start a platform and sell stuff that nobody can find anywhere else, Like that is an early adopter to the market, even at that point, like adjacent to Etsy, except for in retail goods. 00:06:23.526 --> 00:06:28.370 <v Emily Blumenthal>So how did you say, like, hey, this sounds like a good idea and maybe I'll do it Because huh. 00:06:29.540 --> 00:06:34.552 <v Melissa Gonzalez>Well, it actually was just one of those things that evolved because it wasn't my idea when I left. 00:06:34.552 --> 00:06:48.786 <v Melissa Gonzalez>When I was working on Wall Street, I also was a host of a show called Lot Beat on BT and so I had production fighting myself Because I always kind of wanted to pursue that creative path. 00:06:48.786 --> 00:06:56.644 <v Melissa Gonzalez>And I auditioned and my leadership was very supportive, like as long as you're still at the desk and you're supposed to be like, do that. 00:06:56.644 --> 00:06:59.848 <v Melissa Gonzalez>And honestly, clients loved it because I'd be like pitching them stock. 00:06:59.848 --> 00:07:01.766 <v Melissa Gonzalez>They'd like can we talk about what you had on your show? 00:07:01.766 --> 00:07:03.803 <v Melissa Gonzalez>So I think a door opener. 00:07:03.803 --> 00:07:09.185 <v Melissa Gonzalez>But it did get me to be more comfortable having to present and thinking on my feet and all that. 00:07:09.185 --> 00:07:36.137 <v Melissa Gonzalez>So I thought I was going to pursue where that path when I first left and I did do a web series called Remake BFF and that kind of got picked up and I got the money out of that and made the pilot with somebody whose family owned a real estate in midtown Manhattan and he said you know, we're trying to do something creative with the street level retail here and I think that's a great way to help our partner and help us figure out what that could be. 00:07:36.137 --> 00:07:41.312 <v Melissa Gonzalez>And so it was just good timing in that I left out very good terms from Wall Street. 00:07:41.312 --> 00:07:44.389 <v Melissa Gonzalez>I had a little bit of a package and a nest egg. 00:07:45.019 --> 00:07:47.420 <v Melissa Gonzalez>Then we did the homemade BFFs theories. 00:07:47.420 --> 00:07:49.363 <v Melissa Gonzalez>It was homemade beauty, fashion and fitness. 00:07:49.363 --> 00:07:52.791 <v Melissa Gonzalez>You know where there's an advertisers kind of thing. 00:07:52.791 --> 00:07:54.603 <v Melissa Gonzalez>Yeah, exactly. 00:07:54.603 --> 00:07:57.767 <v Melissa Gonzalez>And so it was just like it gave me some opportunity. 00:07:57.767 --> 00:08:02.692 <v Melissa Gonzalez>And so I said, sure, let's give it a comment among my cost of time. 00:08:02.692 --> 00:08:04.245 <v Melissa Gonzalez>I don't have real estate costs. 00:08:04.245 --> 00:08:10.569 <v Melissa Gonzalez>You know, that's what they were bringing to the table and let's see if people find value in this. 00:08:10.569 --> 00:08:16.824 <v Melissa Gonzalez>And so for the first three or four months we were independent designers and most of them paid me in product. 00:08:16.824 --> 00:08:21.391 <v Melissa Gonzalez>We didn't know was it going to work, was it going to not work, and all this other stuff. 00:08:21.391 --> 00:08:33.865 <v Melissa Gonzalez>And then by that was September was the first pop-up, and then by January we were charging because we started developing a wheat list and brands were making sales this real estate that you had had. 00:08:34.086 --> 00:08:39.820 <v Emily Blumenthal>Was it the same store space or were they rotating or were you going based on it was the same location? 00:08:40.260 --> 00:08:43.509 <v Melissa Gonzalez>So we started with one location and rotated it at its height. 00:08:43.509 --> 00:08:46.927 <v Melissa Gonzalez>The program had three revolving storefront. 00:08:47.559 --> 00:08:51.990 <v Emily Blumenthal>How long were the leases per se for the independent designers to be there? 00:08:51.990 --> 00:08:55.609 <v Emily Blumenthal>Usually a minimum of a month, maximum of three months. 00:08:55.609 --> 00:08:57.283 <v Emily Blumenthal>Did they have to be on site? 00:08:57.283 --> 00:09:13.350 <v Emily Blumenthal>Because that was the companies or retailers or so forth that have done this pop-up rotation platform, and there have been a few of them the British company they sold, and Graham and Walker, those guys who would own it. 00:09:13.350 --> 00:09:19.187 <v Emily Blumenthal>The first they would charge, then they didn't, then it was a portion of sales, then it wasn't. 00:09:19.187 --> 00:09:22.168 <v Emily Blumenthal>Then there was having them there to work, rotate, work it. 00:09:22.168 --> 00:09:23.485 <v Emily Blumenthal>How did you come up with that model? 00:09:23.485 --> 00:09:25.687 <v Emily Blumenthal>Were you there every day to be the hostess? 00:09:25.687 --> 00:09:27.096 <v Emily Blumenthal>I was not. 00:09:27.721 --> 00:09:29.206 <v Melissa Gonzalez>I never ran that store. 00:09:29.206 --> 00:09:31.065 <v Melissa Gonzalez>That was not going to happen. 00:09:31.065 --> 00:09:42.070 <v Melissa Gonzalez>But it is a big pain coin and that's why a lot of companies partnered today with Elite, because that's a big part of the commitment skills that are needed. 00:09:42.070 --> 00:09:56.404 <v Melissa Gonzalez>But no, what we provided at the time and this was pre-Lioness Group, this was Lioness Media was because we had a production arm with it and that was the partnership with the family too, because the fun had helped with the pilot of my other idea. 00:09:56.404 --> 00:10:01.331 <v Melissa Gonzalez>So we would make video content, tell the stories of the brand that were coming in. 00:10:01.331 --> 00:10:04.369 <v Melissa Gonzalez>That was part of the package that they got, the Media Kit. 00:10:04.369 --> 00:10:10.052 <v Melissa Gonzalez>I had relationships with everybody from Tine Out and New York Magazine and all that. 00:10:10.052 --> 00:10:11.947 <v Melissa Gonzalez>So we did a part of it. 00:10:11.947 --> 00:10:17.451 <v Melissa Gonzalez>We did media production, PR support because we were PRing also the program. 00:10:17.451 --> 00:10:21.130 <v Melissa Gonzalez>So after a while people knew, okay, who do you have next, what do you write about? 00:10:21.130 --> 00:10:23.947 <v Melissa Gonzalez>And then we helped them design and the speed. 00:10:23.947 --> 00:10:28.169 <v Melissa Gonzalez>But they had the product and operating with their responsibility. 00:10:28.820 --> 00:10:30.666 <v Melissa Gonzalez>In the beginning we did do a portion of sales. 00:10:30.666 --> 00:10:31.708 <v Melissa Gonzalez>That was really tricky. 00:10:31.708 --> 00:10:33.365 <v Melissa Gonzalez>Some were more honest than others. 00:10:33.365 --> 00:10:46.207 <v Melissa Gonzalez>It wasn't going through our POS because a lot of cheap things, but through data we got to see, okay, what really do, we think, is kind of the average sales, and so we used that to guide what we charged in rent. 00:10:46.207 --> 00:10:52.926 <v Melissa Gonzalez>And then it became more of a flat fee program so that we were getting the rent we needed for the package that we were providing. 00:10:52.926 --> 00:11:02.110 <v Melissa Gonzalez>And they were add-ons to that package, if you wanted to have an opening reception or whatever it was, and at a height too, we had all three storefront people were adding an opening reception. 00:11:02.110 --> 00:11:05.299 <v Melissa Gonzalez>They were taking over events because we're blocking hotel rooms. 00:11:05.299 --> 00:11:08.610 <v Melissa Gonzalez>So it was a win-win for the hotel and for the brand. 00:11:08.610 --> 00:11:10.767 <v Melissa Gonzalez>Do you think that model is learning? 00:11:11.620 --> 00:11:25.700 <v Emily Blumenthal>Do you think that model could work now, post-candemic, where people are so hungry for new ness and events and excitement, because you see, all of these pop-ups are coming back and events are coming back and fancy clothes? 00:11:25.700 --> 00:11:41.750 <v Emily Blumenthal>I mean it's very cyclical to I've spoken about this a hundred times but post-Fanish flu and going into the growing 20s and this whole, we want to party, we want to shop, we want an excuse to look cute, this whole whimsical novelty aspect. 00:11:42.522 --> 00:11:43.725 <v Melissa Gonzalez>Yeah, I do think so. 00:11:43.725 --> 00:11:51.211 <v Melissa Gonzalez>I think, though, that would happen with, like, the word pop-up got over saturated and not everything was a great experience. 00:11:51.211 --> 00:11:54.349 <v Melissa Gonzalez>I mean, somebody hosted a class they called a pop-up, you know. 00:11:54.349 --> 00:11:57.385 <v Melissa Gonzalez>So I think that you have to be careful with that. 00:11:57.385 --> 00:12:00.032 <v Melissa Gonzalez>But also, location still matters too. 00:12:00.032 --> 00:12:05.491 <v Melissa Gonzalez>There's very few industries like categories, like when we did pop-ups with sneaker brands. 00:12:05.491 --> 00:12:11.312 <v Melissa Gonzalez>Sneaker heads will go anywhere to find a drop, but most brands don't and categories don't have that. 00:12:11.312 --> 00:12:29.010 <v Melissa Gonzalez>I do think that's possible and I think you think it'd be really interesting with Hotel still, because you have a mix of you know, especially in New York, you could be near residents and workers that are commuters, that are coming in regularly, but then you also get the tourists and they want something you know, interesting and unique to take with them. 00:12:29.010 --> 00:12:35.371 <v Melissa Gonzalez>So, yeah, but location and curation still are critical for that success. 00:12:36.379 --> 00:12:39.803 <v Emily Blumenthal>That's so interesting, I mean I bet in the thick of it. 00:12:39.803 --> 00:12:50.581 <v Emily Blumenthal>You probably, you know, I know you probably weren't there, but like, organizing events is not for the faint of heart, it really isn't, it is, but it's exhausting. 00:12:50.581 --> 00:12:58.268 <v Emily Blumenthal>You know, people see, I mean I've done my share of pop-ups with independent designers, obviously, specifically handbags. 00:12:58.268 --> 00:13:09.225 <v Emily Blumenthal>But you know, one thing could fall through, like the liquor doesn't show up, the security doesn't show up, your insurance doesn't come through on time, like even the things that you would take for granted, that you would have on a day to day. 00:13:09.225 --> 00:13:15.653 <v Emily Blumenthal>One thing doesn't work and then all of a sudden, everything kind of falls apart and then it kind of lands on you to eat the loss. 00:13:15.653 --> 00:13:20.706 <v Emily Blumenthal>If they, or even the people who paid for it, don't even show up, then what yeah? 00:13:21.548 --> 00:13:22.591 <v Melissa Gonzalez>Yeah, no, for sure. 00:13:22.591 --> 00:13:25.567 <v Melissa Gonzalez>I mean most people that paid for their contract show up. 00:13:27.139 --> 00:13:30.408 <v Emily Blumenthal>Or like they're, or they're invent or they're inventorying. 00:13:30.408 --> 00:13:31.431 <v Emily Blumenthal>Show up at the time. 00:13:32.320 --> 00:13:34.767 <v Melissa Gonzalez>That's definitely happened, especially if it was an international brand. 00:13:34.767 --> 00:13:44.029 <v Melissa Gonzalez>Very tricky and it hurts when you're a small independent, you know, designer, you don't have the same cushion as some of the larger brands to take this hit. 00:13:44.029 --> 00:13:52.721 <v Melissa Gonzalez>You know, for some, the pop-up, the one or two they did a year with like the bulk of their revenue for a year, yeah so, yeah. 00:13:52.721 --> 00:13:54.971 <v Melissa Gonzalez>So you know to be really mindful about that. 00:13:54.971 --> 00:13:59.225 <v Melissa Gonzalez>Planning ahead just because it's short in duration doesn't mean planning is. 00:13:59.225 --> 00:14:02.371 <v Melissa Gonzalez>So be really thoughtful about all the elements. 00:14:03.500 --> 00:14:08.322 <v Emily Blumenthal>So how long did you do that before you recognize, because I know you also. 00:14:08.322 --> 00:14:14.302 <v Emily Blumenthal>If I'm not correct, I believe you had an online platform too that was selling. 00:14:14.302 --> 00:14:16.206 <v Emily Blumenthal>Said weird, really. 00:14:16.225 --> 00:14:18.090 <v Melissa Gonzalez>You have a great memory, yeah, yeah. 00:14:18.090 --> 00:14:23.013 <v Melissa Gonzalez>So I would say from 2009 to 2012, there was a lot of kind of evolution and learning. 00:14:23.013 --> 00:14:31.501 <v Melissa Gonzalez>2009, fall 2009 was the first pop-up new form perspective NFP studio with Neil Travis, and then that evolved. 00:14:31.501 --> 00:14:35.570 <v Melissa Gonzalez>I would say I think it was around 2011,. 00:14:35.570 --> 00:14:36.270 <v Melissa Gonzalez>2012. 00:14:36.270 --> 00:14:37.474 <v Melissa Gonzalez>When we launched e-commerce. 00:14:37.474 --> 00:14:38.904 <v Melissa Gonzalez>It was only for about a year. 00:14:39.700 --> 00:14:45.302 <v Melissa Gonzalez>This was when you know shoppers were just becoming a thing and what the impetus of it was. 00:14:45.302 --> 00:14:50.346 <v Melissa Gonzalez>You were having these great pop-ups and then people would kept emailing us where at the grand bill, how do I shop them? 00:14:50.346 --> 00:14:58.409 <v Melissa Gonzalez>And most of them didn't really have fully developed e-commerce platforms, so it was meant to be like a curating marketplace of that. 00:14:58.409 --> 00:15:08.291 <v Melissa Gonzalez>But, as you know, e-commerce takes a lot of time and energy and money and infrastructure to really grow it, and so that was a long-distance interaction that I pursued. 00:15:08.291 --> 00:15:34.173 <v Melissa Gonzalez>But I did do that for a period of time and was part of Low Enthusiasm Familyarized Balance Incubator program, learned a ton and then so took that, we closed it and decided you know what we're going to really focus on physical retail, because we're working so hard to make it tough to close it because were you like, oh, it's so goddamn burned out at this point? 00:15:34.419 --> 00:15:47.952 <v Melissa Gonzalez>This isn't, I mean it's like anything that once you let it go, you decompress from it and you realize like, okay, it's better, but in the moment you put so much wet equity and hard into it that it's a really hard decision. 00:15:48.220 --> 00:16:05.208 <v Melissa Gonzalez>But what I would say, you know and I've learned over time like numbers don't lie and that is your indicator and trust it and make the right decision because there's the opportunity cost of maybe you could be doing something else and you know you're going to be doing something else, doing something differently or doing it better. 00:16:05.208 --> 00:16:24.956 <v Melissa Gonzalez>And so I learned a ton from having e-commerce and made me a better advisor and strategist with the brands we work with today, because it gave me a better perspective of Omni-Channel and kind of understanding how it all needs to connect to be successful and how all the different touch points feed each other. 00:16:24.956 --> 00:16:39.352 <v Melissa Gonzalez>So I would say like it didn't work, but I invested in my education through that and while we were pursuing e-commerce so much there was so much organic and bigger brands coming our way wanting to work together for physical. 00:16:39.352 --> 00:16:49.548 <v Melissa Gonzalez>So it was like sometimes too, if you're fighting so hard in one direction that doesn't allow you to hear all the organic, positive stuff that's happening, you know, then you can have an opportunity. 00:16:50.350 --> 00:16:58.836 <v Emily Blumenthal>If I may, though speaking about this, because the platform you had at the time there really weren't too many competitors. 00:16:58.836 --> 00:17:14.180 <v Emily Blumenthal>I mean, look, we ran I don't even know how many years we ran Handbag Designer 101 as a platform for independent designers and, with all due respect, it nearly killed me because you know we it was dropship. 00:17:14.180 --> 00:17:21.357 <v Emily Blumenthal>Most retailers are trying to push right now I've spoken about that extensively that you want to get into Walmart. 00:17:21.357 --> 00:17:25.940 <v Emily Blumenthal>Walmart carries brands that you wouldn't expect to be on a Walmart-based platform. 00:17:25.940 --> 00:17:28.281 <v Emily Blumenthal>However, it's income coming in. 00:17:28.281 --> 00:17:30.404 <v Emily Blumenthal>It's another distribution from the channel for them. 00:17:30.404 --> 00:17:31.628 <v Emily Blumenthal>So why shouldn't they? 00:17:32.090 --> 00:17:34.558 <v Emily Blumenthal>But dealing with an independent designer? 00:17:34.558 --> 00:17:38.048 <v Emily Blumenthal>I was also doing press for it was like a 360, as you said. 00:17:38.048 --> 00:17:40.433 <v Emily Blumenthal>It was as much as Omni Channel as it could have been. 00:17:40.433 --> 00:18:01.471 <v Emily Blumenthal>And you know, we know the pain points of being a small brand and delivery and quality control and shipping and return, then to have to deal with that, because then you're the one who has to deal with that, and then go back to the designer and say, okay, you have a giant order, why aren't you delivering on time and all these things. 00:18:01.471 --> 00:18:03.859 <v Emily Blumenthal>It's enough to say like, why am I doing this? 00:18:03.859 --> 00:18:05.425 <v Emily Blumenthal>And then try to look at it. 00:18:05.425 --> 00:18:07.134 <v Emily Blumenthal>So, okay, what are my takeaways? 00:18:07.134 --> 00:18:11.109 <v Emily Blumenthal>Where are the unique selling points and what's the value of dealing with smaller brands? 00:18:11.109 --> 00:18:32.494 <v Emily Blumenthal>So do you think there are some takeaways that, having dealt with that, that you can share the knowledge to an independent brand saying here's some things to think about or to keep in mind, because so many designers neglect to see themselves as a business and you know, you lose customers once they don't come back. 00:18:33.684 --> 00:18:38.376 <v Melissa Gonzalez>Yeah, there's just so many options out there that blah blah patience for that for sure. 00:18:38.376 --> 00:18:39.346 <v Melissa Gonzalez>You know. 00:18:39.346 --> 00:18:42.422 <v Melissa Gonzalez>I think the hook is where a lot of them are probably really strong. 00:18:42.422 --> 00:18:48.949 <v Melissa Gonzalez>You know there's an authenticity to when you get to interact with a founder and people love that and love to support that. 00:18:48.949 --> 00:18:50.155 <v Melissa Gonzalez>I mean that's what made a lot of the fall. 00:18:50.155 --> 00:18:51.201 <v Melissa Gonzalez>That's really successful. 00:18:51.201 --> 00:18:52.247 <v Melissa Gonzalez>Like they came because they're. 00:18:52.247 --> 00:18:57.445 <v Melissa Gonzalez>They love to be able to be like I can go to the designer and my friend and I shop from them. 00:18:57.445 --> 00:18:59.550 <v Melissa Gonzalez>But then things have to back up to that. 00:18:59.550 --> 00:19:02.597 <v Melissa Gonzalez>Like that's just one of your relationship. 00:19:02.766 --> 00:19:06.479 <v Melissa Gonzalez>You know the quality of the product in their hands matters. 00:19:06.479 --> 00:19:09.449 <v Melissa Gonzalez>The follow up that you do after the purchase matter. 00:19:09.449 --> 00:19:12.597 <v Melissa Gonzalez>You know how you handle a return with them matters. 00:19:12.597 --> 00:19:15.269 <v Melissa Gonzalez>Customer service, right, all of that stuff. 00:19:15.269 --> 00:19:17.519 <v Melissa Gonzalez>Like everybody quotes my and you live. 00:19:17.519 --> 00:19:31.231 <v Melissa Gonzalez>But it's true, everybody remembers how you make them feel you could probably get a shitty product, but if I treated you right, you'll give me a second chance If you ever wanted to start a handbag brand and you didn't know where to start, this is for you. 00:19:32.174 --> 00:19:37.070 <v Emily Blumenthal>If you had dreams of becoming a handbag designer but aren't trained in design, this is for you. 00:19:37.070 --> 00:19:41.726 <v Emily Blumenthal>If you have a handbag brand and need strategy and direction, this is for you. 00:19:41.726 --> 00:19:50.330 <v Emily Blumenthal>I'm Emily Blumenthal, handbag designer expert and handbag fairy godmother, and this is the handbag designer one on one masterclass. 00:19:50.330 --> 00:20:06.874 <v Emily Blumenthal>Over the next 10 classes, I will break down everything you need to know to make, manufacture and market a handbag brand, broken down, to ensure that you will not only skip steps in the handbag building process, but also to save money to avoid the learning curve of costly mistakes. 00:20:06.874 --> 00:20:18.031 <v Emily Blumenthal>For the past 20 years, I've been teaching at the top fashion universities in New York City, wrote the handbag designer Bible, founded the handbag awards and created the only handbag designer podcast. 00:20:18.031 --> 00:20:24.594 <v Emily Blumenthal>I'm going to show you like I have countless brands to create in this in depth course, from sketch to sample to sale. 00:20:24.594 --> 00:20:34.753 <v Emily Blumenthal>Whether you're just starting out and don't even know where to start or begin, or if you've had a brand and need some strategic direction, the handbag designer one on one masterclass is just for you. 00:20:34.753 --> 00:20:38.613 <v Emily Blumenthal>So let's get started and you'll be the creator of the next it back. 00:20:38.613 --> 00:20:42.948 <v Emily Blumenthal>Join me, emily Blumenthal in the handbag designer, one on one masterclass. 00:20:42.948 --> 00:20:54.992 <v Emily Blumenthal>So be sure to sign up at Emily Blumenthalcom slash masterclass and type in the code on cast to get 10% off your masterclass today. 00:20:59.599 --> 00:21:03.707 <v Emily Blumenthal>Actually, there's a 10 talk that I show my students. 00:21:03.707 --> 00:21:24.038 <v Emily Blumenthal>It's, I think I show it on like class one or class two in my entrepreneurship class at FIT and I can't recall who the speaker was, who this woman was, but there's an anecdotal story of lawsuits against doctors with bad bedside matters versus positive bedside matters. 00:21:24.038 --> 00:21:42.964 <v Emily Blumenthal>And there was a doctor who apparently had had operated on a patient's wrong leg like got it mixed up, genuinely mixed up and did that operation on a functioning part of the body as opposed to the broken part of the body, because the doctor was really, really, really apologetic. 00:21:42.964 --> 00:21:45.452 <v Emily Blumenthal>The patient didn't press charges. 00:21:45.452 --> 00:21:47.117 <v Emily Blumenthal>Yeah, not litigious. 00:21:47.117 --> 00:21:50.468 <v Emily Blumenthal>And that's truly goes back to how you deal with your customer. 00:21:50.468 --> 00:21:52.593 <v Emily Blumenthal>If you make a mistake, own up to it. 00:21:52.593 --> 00:21:53.435 <v Emily Blumenthal>How can I fix it? 00:21:53.435 --> 00:21:54.057 <v Emily Blumenthal>What can I do? 00:21:54.057 --> 00:22:00.105 <v Emily Blumenthal>Yeah, yeah, I mean I'm right on and doing the surgery on somebody's wrong part of the body. 00:22:00.105 --> 00:22:01.352 <v Emily Blumenthal>Don't get me wrong, I'm not. 00:22:01.452 --> 00:22:04.587 <v Melissa Gonzalez>Yes, it's a different magnitude than like putting them in the wrong handbag. 00:22:05.791 --> 00:22:19.153 <v Melissa Gonzalez>I sent you the right style, yeah, same thing, yeah, but there's I mean, there's plenty of disruptors, right, and the ECOPS 8th that they want on customer service, you know, and that's how they really built their brand. 00:22:19.153 --> 00:22:25.876 <v Melissa Gonzalez>So you got to think about the packaging, you know so that even though somebody paid for it, it feels like a gift. 00:22:25.876 --> 00:22:27.049 <v Melissa Gonzalez>What are the things you're going to? 00:22:27.049 --> 00:22:30.243 <v Melissa Gonzalez>You know what's the right, appropriate follow-ups. 00:22:30.243 --> 00:22:32.135 <v Melissa Gonzalez>You get them to come back again, you know. 00:22:32.135 --> 00:22:44.769 <v Melissa Gonzalez>So it's really having a holistic approach to that and I would say, when you're starting out on time to be all things because you're going to probably have a small team and it's going to be really challenging to do all those things well, so, like, what are the top three things you can do? 00:22:44.769 --> 00:22:57.086 <v Melissa Gonzalez>Great, and then, building upon that, you know so that you really are permission for success to deliver upon that and get known for that and grow and then add on top of that. 00:22:57.448 --> 00:22:59.776 <v Emily Blumenthal>That's good, that's a really good piece of advice. 00:22:59.776 --> 00:23:22.607 <v Emily Blumenthal>We're the top three things that you have to offer, and you do well, because 100% you cannot be everything to everyone, and that's always a mistake I mean, I think we all go through that as founders when you start out and to narrow, cast your demographic and recognize hold on, I can't, I can't cater to everyone, so who am I catering to and who am I doing it? 00:23:22.607 --> 00:23:26.055 <v Emily Blumenthal>Well, so that is some sage advice, melissa. 00:23:26.055 --> 00:23:27.357 <v Emily Blumenthal>I appreciate that. 00:23:27.357 --> 00:23:31.599 <v Emily Blumenthal>So after you're burnt out, you're like okay, I can't do this anymore, I'm over it. 00:23:31.599 --> 00:23:32.904 <v Emily Blumenthal>How did you evolve? 00:23:32.904 --> 00:23:41.756 <v Emily Blumenthal>And you know, after realizing something and I'm not saying it didn't work, but it didn't work as well as obviously you would have hoped why did you even keep the name lioness? 00:23:41.756 --> 00:23:42.438 <v Emily Blumenthal>What was that? 00:23:42.438 --> 00:23:42.846 <v Emily Blumenthal>I? 00:23:42.885 --> 00:23:43.287 <v Melissa Gonzalez>just so. 00:23:43.287 --> 00:23:52.799 <v Melissa Gonzalez>I debated that a long time for sure, and especially when we I hope you don't mind me, and this gang, no, as me pursued the nature of pop up. 00:23:52.799 --> 00:23:54.768 <v Melissa Gonzalez>People like you should just be the pop up agency. 00:23:54.768 --> 00:23:58.204 <v Melissa Gonzalez>And then I was like, well, if I go so niche in my name, can I ever become anything else? 00:23:58.204 --> 00:23:58.346 <v Melissa Gonzalez>Wow. 00:23:59.211 --> 00:24:08.045 <v Melissa Gonzalez>So with lioness, the background of it is I'm a Leo, I went to the state we're a lion, and then at the time, with all women and I'm a woman. 00:24:08.045 --> 00:24:12.498 <v Melissa Gonzalez>So ask is kind of like what got added to the word lion? 00:24:12.498 --> 00:24:25.303 <v Melissa Gonzalez>And then what evolved is we rely on productions and line of media than line of group, and that's kind of where we, you know, evolved to for more of the retail strategy, design portion of it, not all the production influence or stuff. 00:24:25.303 --> 00:24:30.721 <v Melissa Gonzalez>I've still kind of line of media, but so that's kind of like what the evolution was. 00:24:30.721 --> 00:24:32.307 <v Melissa Gonzalez>Because they wanted to. 00:24:32.307 --> 00:24:33.993 <v Melissa Gonzalez>People also knew the name. 00:24:33.993 --> 00:24:44.207 <v Melissa Gonzalez>So like how do I leverage that, even though I had to kind of educate that we're pivoting but also keep a name that wasn't so niche that if we evolve I couldn't do anything with that. 00:24:44.267 --> 00:24:46.672 <v Emily Blumenthal>So yeah, but it's not a pivot, though. 00:24:46.672 --> 00:24:50.306 <v Emily Blumenthal>You know like, yeah, shut something down. 00:24:50.306 --> 00:24:53.075 <v Emily Blumenthal>Did you officially shut it down? 00:24:53.075 --> 00:24:53.957 <v Emily Blumenthal>Yeah, was it like? 00:24:53.957 --> 00:24:56.364 <v Emily Blumenthal>So you're like okay, website shut done. 00:24:56.364 --> 00:24:57.968 <v Emily Blumenthal>What was your plan? 00:24:57.988 --> 00:25:00.996 <v Melissa Gonzalez>you have to, you have to be okay failing fast. 00:25:00.996 --> 00:25:10.502 <v Melissa Gonzalez>I mean that's the thing that I think you know most entrepreneurs that are successful had failure and you have to be able to pivot. 00:25:10.502 --> 00:25:12.930 <v Melissa Gonzalez>It's not a failure to pivot pivot either. 00:25:12.930 --> 00:25:17.001 <v Melissa Gonzalez>It's the ability to recognize like this isn't working. 00:25:17.001 --> 00:25:18.486 <v Melissa Gonzalez>These are my parameters. 00:25:18.546 --> 00:25:29.634 <v Melissa Gonzalez>I'm willing to like have losses or you know what it means you have these stopgaps happen and be able to be brave enough to say that's not the right approach. 00:25:29.634 --> 00:25:32.971 <v Melissa Gonzalez>Maybe I have a right idea, but that's not the right way to execute it. 00:25:32.971 --> 00:25:38.709 <v Melissa Gonzalez>Or maybe I have a great team, but we need to pivot on what the idea is, because that's not the market asking for. 00:25:38.709 --> 00:25:47.762 <v Melissa Gonzalez>You know, and so the ability to be able to do that is actually success, and so sometimes I think it needs to get trapped in that you know. 00:25:47.762 --> 00:26:02.431 <v Melissa Gonzalez>But if you allow yourself to like watch the numbers, know that they're your friend because I would do that in the beginning too like I'm gonna look at these numbers, but you have to, you have to and then be able to say, okay, let's analyze that. 00:26:02.490 --> 00:26:03.492 <v Melissa Gonzalez>What about that's working? 00:26:03.492 --> 00:26:05.282 <v Melissa Gonzalez>What can I do different? 00:26:05.282 --> 00:26:09.451 <v Melissa Gonzalez>The three things right idea, right team, right time. 00:26:09.451 --> 00:26:18.069 <v Melissa Gonzalez>Like things have to line up right, you can have the best idea, but if you know the team to execute it like an idea is worth how much without that part of it. 00:26:18.069 --> 00:26:23.223 <v Melissa Gonzalez>And then sometimes you might have an idea but the market's not ready for it, and that happens a lot of times. 00:26:23.223 --> 00:26:24.752 <v Melissa Gonzalez>Oh, yeah, yeah. 00:26:24.752 --> 00:26:40.724 <v Melissa Gonzalez>So it's kind of like you really have to think about thought and put the passion in it, but be able to separate yourself with a business plan, a critical point to say then personal business so like is what's working and if it's not, what can I change about it? 00:26:41.425 --> 00:26:42.548 <v Emily Blumenthal>damn, that is good. 00:26:42.548 --> 00:26:44.833 <v Emily Blumenthal>I mean, look the handbag that I created. 00:26:44.833 --> 00:26:47.227 <v Emily Blumenthal>I have patented the silhouettes here. 00:26:47.227 --> 00:26:51.137 <v Emily Blumenthal>I thought I was this incredible, I split the atom. 00:26:51.137 --> 00:26:53.367 <v Emily Blumenthal>The handbag designer not trained in design. 00:26:53.367 --> 00:26:56.622 <v Emily Blumenthal>Look, I've done something that's far better than what everybody else is. 00:26:56.642 --> 00:27:06.924 <v Emily Blumenthal>That, like you know, you have that kind of delusion when you start kind of think you have to to some extent because you are, no matter how much experience you have, nobody's going into anything being like I've done this. 00:27:06.924 --> 00:27:13.507 <v Emily Blumenthal>I know exactly what I'm doing, because you, until you're in it, you don't realize oh, I didn't know 90% of this. 00:27:13.507 --> 00:27:36.096 <v Emily Blumenthal>Yeah, you know, it took me six years until I was able to license out my silhouettes because my bag couldn't sell without me being there to sell it and that was a wild, wild epiphany to recognize because it was a wallet wristlet fusion and it was not something that people could understand on itself without me there doing this. 00:27:36.096 --> 00:27:43.347 <v Emily Blumenthal>The dog and pony show like this is how you put it on, this is how you wear it, here's the unique selling points and you know to do that with the business. 00:27:43.367 --> 00:27:47.586 <v Melissa Gonzalez>There was a tick talk then because then you would have had an army helping you with that. 00:27:47.826 --> 00:27:51.136 <v Emily Blumenthal>I, exactly, exactly I would have done all of that. 00:27:51.136 --> 00:27:52.627 <v Emily Blumenthal>It's so funny to think about that. 00:27:52.627 --> 00:27:54.088 <v Emily Blumenthal>I didn't ever cross my mind. 00:27:54.088 --> 00:27:56.994 <v Emily Blumenthal>Maybe you got to bring it back and get it to some tick clocker. 00:27:56.994 --> 00:28:07.401 <v Emily Blumenthal>Listen, I had three patents before I was 27, and boy I to use the word IP when no one knew what it was. 00:28:07.401 --> 00:28:12.309 <v Emily Blumenthal>I'm like you're all so dumb, but me what, what is it matter? 00:28:12.309 --> 00:28:18.025 <v Emily Blumenthal>So you pivoted into something that was the same but very different. 00:28:18.025 --> 00:28:19.387 <v Emily Blumenthal>How did you approach that? 00:28:19.387 --> 00:28:21.050 <v Emily Blumenthal>So? 00:28:22.031 --> 00:28:35.137 <v Melissa Gonzalez>I've been in a few times throughout, you know, and from Wall Street to being an entrepreneur, you know physical only bringing an e-com shut that down, focus on physical works with great opportunities. 00:28:35.137 --> 00:28:42.297 <v Melissa Gonzalez>You know brands and opportunities mark jakeups, j Hilburn you know the real, real read. 00:28:42.297 --> 00:28:44.281 <v Melissa Gonzalez>I mean we worked with great brands and then I did. 00:28:44.281 --> 00:28:56.983 <v Melissa Gonzalez>I had another idea and I was part of X or C and I came up with a retail tech idea and I partnered with our company called impinge and you know it was another learning like that one was. 00:28:57.665 --> 00:29:02.339 <v Melissa Gonzalez>I had a good idea, but it was a very different use case that was much more complex. 00:29:02.339 --> 00:29:14.459 <v Melissa Gonzalez>I didn't have the team for it, really, and we were ahead of our time and so I think, with the right team and the rain and bath mean we could have developed it so when the market was ready. 00:29:14.459 --> 00:29:31.691 <v Melissa Gonzalez>But all those things matter, you know, and I had learned from earlier that I probably could have shut it a little faster, but I pulled the plug because I realized like I did not have the team that was going to make this happen and it was a very complex idea. 00:29:31.932 --> 00:29:33.757 <v Emily Blumenthal>So but all that was true. 00:29:33.757 --> 00:29:48.748 <v Emily Blumenthal>Do you think it was sometimes the ideas that are too complex, that they're too hard to digest and explain and therefore, if you have to be there to present it to a point to educate that sometimes that is part of the barrier itself? 00:29:48.748 --> 00:29:57.804 <v Emily Blumenthal>Like, oh god, if I have to be there to explain it to every single person, then maybe this isn't something that's going to work from a product standpoint, I would say yes, like what you're. 00:29:57.864 --> 00:29:59.249 <v Melissa Gonzalez>You know people don't get it. 00:29:59.249 --> 00:30:01.678 <v Melissa Gonzalez>When it comes to tack, it's a little trickier. 00:30:01.678 --> 00:30:03.260 <v Melissa Gonzalez>There's two things. 00:30:03.260 --> 00:30:12.806 <v Melissa Gonzalez>Sometimes it's like the simplest thing, like the person who invented the bottle cap that lives on every Coke bottle, pepsi bottle, like that, in theory the simplest thing. 00:30:12.806 --> 00:30:17.720 <v Melissa Gonzalez>And when you have something that simple that can go that mainstream and that wide, like success. 00:30:17.720 --> 00:30:26.557 <v Melissa Gonzalez>But then there are other things that are complex and when it comes to tech and those things, I feel like it's kind of like we're seeing an AI now and like with Microsoft's offering. 00:30:26.557 --> 00:30:41.332 <v Melissa Gonzalez>Like it's super complex, which means it's super expensive, which means your addressable mark is probably pretty small and you're going to need to have the right infrastructure and runway to get past that part, to like get to be for attainable pricing, more. 00:30:41.332 --> 00:30:43.859 <v Melissa Gonzalez>You know Mac, you know adoption is possible and stuff like that. 00:30:43.859 --> 00:30:47.646 <v Melissa Gonzalez>So it's kind of like a different animal than like product. 00:30:47.646 --> 00:30:52.193 <v Melissa Gonzalez>But even to get through all that you need the right team, the right investment partner. 00:30:52.193 --> 00:30:54.242 <v Melissa Gonzalez>Like Just kind of like. 00:30:54.262 --> 00:31:03.036 <v Emily Blumenthal>Know that for what you were doing past line, ask media that whatever you would do would require investment. 00:31:04.340 --> 00:31:06.789 <v Melissa Gonzalez>No, because my next group never took about that. 00:31:06.789 --> 00:31:08.844 <v Melissa Gonzalez>That was more people business. 00:31:08.844 --> 00:31:16.279 <v Melissa Gonzalez>You know, I was like I couldn't, you know, but for tech I did, I think, because I'm not a quarter myself. 00:31:16.279 --> 00:31:24.986 <v Melissa Gonzalez>So you know, I think, if I had the opportunity where I had the vision and I literally write all the code myself and with a graphic designer and was all the thing Right, maybe. 00:31:24.986 --> 00:31:28.039 <v Melissa Gonzalez>But knowing I was in the N, yes, I was going to need to look at that. 00:31:28.039 --> 00:31:35.286 <v Melissa Gonzalez>But I felt, with technology, kind of like with the product company, service companies are much harder, yeah, I think, in this aspect. 00:31:35.286 --> 00:31:54.532 <v Melissa Gonzalez>But because those are the kinds of opportunities where you can make money or sleep, right, so like, you make a number, like certain amount of investment that will monetize over time, because you start selling thousands of handbags or for this technology, right, thousands of retailers are adopting it, so like, and what was it? 00:31:54.961 --> 00:31:57.267 <v Emily Blumenthal>And that makes them what was the tech. 00:31:57.267 --> 00:31:58.631 <v Emily Blumenthal>If you don't mind sharing yeah. 00:31:59.000 --> 00:32:13.809 <v Melissa Gonzalez>So it's called field tap and we created an RFID back shopable key and we piloted it in partnership with general growth partner, which is now G G P, which is now Brookfield, and we piloted in the store. 00:32:13.809 --> 00:32:25.836 <v Melissa Gonzalez>But the thought of it was how do we create physical experience with that mirror, the e-com experience, where if you're shopping online, you can add things to your cart and remembering it back to it later. 00:32:25.836 --> 00:32:35.335 <v Melissa Gonzalez>So we did that for physical retail where, with your RFID back key, as you were shopping, you can add things to your digital cart, but from a physical location. 00:32:35.335 --> 00:32:39.407 <v Melissa Gonzalez>So for the consumer, they got to remember what they like. 00:32:39.407 --> 00:32:43.415 <v Melissa Gonzalez>They were able to text their cart to somebody else to get advice. 00:32:43.896 --> 00:32:48.838 <v Melissa Gonzalez>On the brand and retailer side, you could see attribution, which is one of the biggest pain points in physical retail. 00:32:48.838 --> 00:32:55.640 <v Melissa Gonzalez>So, yeah, people were just they could get evidence of what kind of the product people were discovering in store but adding to their cart. 00:32:55.640 --> 00:32:58.740 <v Melissa Gonzalez>Every one of the length was an affiliate length with the brand. 00:32:58.740 --> 00:33:08.549 <v Melissa Gonzalez>So we were able to track when a sale happened and even like how many touch points that they need to have before they need to purchase, what was the average amount of time it got to a purchase? 00:33:08.549 --> 00:33:11.220 <v Melissa Gonzalez>What kind of products were they purchasing outside of the store? 00:33:11.984 --> 00:33:16.980 <v Emily Blumenthal>So it was like, in theory, some sexy data, but it was very complex to build. 00:33:16.980 --> 00:33:21.577 <v Emily Blumenthal>Yeah, yeah, I mean any tech CTO and then teams to build under it. 00:33:21.577 --> 00:33:29.584 <v Emily Blumenthal>So I knew like if that was sad, because you know that was so much of your time and to build that. 00:33:29.624 --> 00:33:32.432 <v Melissa Gonzalez>You just know it was going to work without that. 00:33:33.820 --> 00:33:37.070 <v Emily Blumenthal>How long did that take you before you were like, ok, time to pivot again. 00:33:37.070 --> 00:33:41.204 <v Emily Blumenthal>It was a year, I think it was a year and you have. 00:33:41.204 --> 00:33:42.589 <v Emily Blumenthal>You had investment for that. 00:33:43.222 --> 00:34:07.039 <v Melissa Gonzalez>Yeah, small like the round, but I knew, in order to progress, to show the milestone and to be able to get to where I need to go, we'd need a bigger runway, I'd need a different team, and you know, I think that become more successful and like as your founder, regardless of it, you need to really like with achieving this idea, what is the work skills that I bring to the table and what do I need to build around me? 00:34:07.039 --> 00:34:15.331 <v Melissa Gonzalez>And they have to be the right people, like when you're going from employee one to even 10 or even 20, but like every seat matters, yeah, you know. 00:34:15.331 --> 00:34:18.599 <v Melissa Gonzalez>And so like what is that matrix together? 00:34:18.599 --> 00:34:20.420 <v Melissa Gonzalez>And then you have your advisors too. 00:34:20.420 --> 00:34:32.856 <v Melissa Gonzalez>That was how I started, but in that I needed a kind of a tech co-founder who was a kick-off technology but had a mutual understanding and respect to. 00:34:32.856 --> 00:34:40.599 <v Melissa Gonzalez>I brought industry expertise, you bring tech expertise and we have to like develop together. 00:34:40.599 --> 00:34:46.980 <v Melissa Gonzalez>Yeah, and that's what always easy when you work in technology companies that you find that harmonious partnership. 00:34:47.943 --> 00:34:52.920 <v Emily Blumenthal>But I think that can even be translated into having a partner for your own brand, right? 00:34:52.920 --> 00:35:04.452 <v Emily Blumenthal>Like, yeah, it's great to have a duplicate skill set, but if you are going to have a partner, it has to be divide and conquer, like I need to be able to successfully defer to you on things that I can't do. 00:35:04.452 --> 00:35:06.380 <v Emily Blumenthal>So that's the whole puzzle piece of it. 00:35:06.380 --> 00:35:22.099 <v Emily Blumenthal>But can I just ask you having and again like all this speaks to something larger having taken investment, even seed investment, and the fact that you know you pivoted, therefore you didn't run, therefore saying maybe it didn't work Was that a hard pill to swallow? 00:35:22.099 --> 00:35:41.860 <v Emily Blumenthal>Was that the first time you'd taken investment, to look at it in a different way, being like oh, you know, I just know for so many founders that, obviously speaking of handbags who get money and even if it's friends and family round, there's a certain around, especially with women, the guilt of failing when you take people's money. 00:35:41.860 --> 00:35:48.070 <v Emily Blumenthal>Oh, so with, if you don't mind me asking, yeah, with the website e-com. 00:35:48.630 --> 00:35:50.697 <v Melissa Gonzalez>That was friends and family and it was super hard. 00:35:50.697 --> 00:35:56.039 <v Melissa Gonzalez>It was super hard and you have to do it with the right people, who you know you'll be friends on the other side of it. 00:35:56.039 --> 00:36:00.860 <v Melissa Gonzalez>Some are the same kind of friends and some friendships change and it was really hard. 00:36:00.860 --> 00:36:04.697 <v Melissa Gonzalez>But you kind of like, if you're going to invest at early stage. 00:36:04.697 --> 00:36:08.059 <v Melissa Gonzalez>Two, you have to know You're kind of you're probably making a donation. 00:36:08.059 --> 00:36:20.092 <v Melissa Gonzalez>But I have to answer that you know because when you're that early stage, the odds right, it's like a very much lower percentage when you're that early stage. 00:36:20.092 --> 00:36:26.592 <v Melissa Gonzalez>And so when I did it for the tech company, it was seed stage but more institutional. 00:36:26.800 --> 00:36:32.213 <v Melissa Gonzalez>But I didn't take her throne because I didn't want to do that path again, because I know what that felt like. 00:36:32.213 --> 00:36:37.313 <v Melissa Gonzalez>But I also realized that when you get investment, money is only a portion of it. 00:36:37.313 --> 00:36:38.934 <v Melissa Gonzalez>You need network and advice. 00:36:38.934 --> 00:36:41.525 <v Melissa Gonzalez>There's other things you need to. 00:36:41.525 --> 00:36:49.510 <v Melissa Gonzalez>So you got to get the money from the right partners as well, because that's the way you're gonna more effectively put their money to work to. 00:36:50.842 --> 00:37:07.077 <v Emily Blumenthal>My god, melissa, we haven't even gotten to what you do and I know we've taken up like 800 hours of your day, but this in itself was like look, I wanted to round out with where you are now and if you could throw in some touch points about handbags, industry, anything you can. 00:37:07.077 --> 00:37:10.653 <v Emily Blumenthal>Some takeaways, but there were because I don't want to hold you captive for too much longer. 00:37:10.875 --> 00:37:11.820 <v Melissa Gonzalez>No, no, yeah. 00:37:11.820 --> 00:37:15.675 <v Melissa Gonzalez>So now through all of my journey in 2019. 00:37:15.675 --> 00:37:20.668 <v Melissa Gonzalez>So 10 years later, we were approached for acquisition by company called MD.2. 00:37:20.668 --> 00:37:22.713 <v Melissa Gonzalez>They're a global design architecture firm. 00:37:22.713 --> 00:37:32.914 <v Melissa Gonzalez>A lot of time Also MG2 is not my initials, yes, but it's fun when people think so but, yeah, we did a lot of diligent. 00:37:33.440 --> 00:37:37.050 <v Melissa Gonzalez>You know this culturally, the right partnership, one of the synergies, etc. 00:37:37.050 --> 00:37:42.289 <v Melissa Gonzalez>So I would say all my stops along that path. 00:37:42.289 --> 00:37:49.387 <v Melissa Gonzalez>When you're working with independent brands, working with, you know, fast growing digital natives that are VC backed. 00:37:49.387 --> 00:37:54.224 <v Melissa Gonzalez>Working with mass retailers that are trying to think like DTC companies. 00:37:54.224 --> 00:37:58.503 <v Melissa Gonzalez>You know, experimenting with e-commerce, trying technology. 00:37:58.503 --> 00:38:12.452 <v Melissa Gonzalez>All of that makes me a stronger strategist today, working with brands as I dip into the digitization of the store and the opportunities of things beyond where we are today. 00:38:12.452 --> 00:38:21.699 <v Melissa Gonzalez>So I would say, just always remember like you're learning along the way You're like I say, like I sometimes am the authority in the room. 00:38:21.699 --> 00:38:30.485 <v Melissa Gonzalez>It's I'm the rookie in the room and I get to be able to fluctuate around that in order to be like always growing and that's the opportunity. 00:38:31.101 --> 00:38:35.699 <v Melissa Gonzalez>So today I am a principal and shareholder in the firm that acquired us, which is MG2. 00:38:35.699 --> 00:38:40.188 <v Melissa Gonzalez>I am, I lead strategy for consumer experience. 00:38:40.188 --> 00:38:42.574 <v Melissa Gonzalez>So we help brands and retailers. 00:38:42.574 --> 00:39:01.014 <v Melissa Gonzalez>We're also doing work in cinema and F&B, helping them kind of like what's the future, and it could be anything from they're embarking on their first location to Evolving who they are to I mean a lot of different, different life stages that we work with, and so that's what I do today. 00:39:01.014 --> 00:39:19.059 <v Melissa Gonzalez>I also have a podcast, like you, called retailer fine, and on there I have conversations with everything from like they sweet to a brand of retailers to founders of technology companies, so you know or having these kind of comprehensive conversations about the future of the consumer. 00:39:19.059 --> 00:39:21.452 <v Melissa Gonzalez>What does that mean for retail experiences? 00:39:21.452 --> 00:39:26.490 <v Melissa Gonzalez>And yeah, that's kind of I think I answered the question that I stray that? 00:39:26.570 --> 00:39:27.494 <v Emily Blumenthal>no stray away. 00:39:27.494 --> 00:39:33.523 <v Emily Blumenthal>Melissa Gonzalez, how can we find follow, get more information? 00:39:33.523 --> 00:39:37.130 <v Emily Blumenthal>Are you open to people reaching out just for sure? 00:39:37.130 --> 00:39:39.034 <v Emily Blumenthal>Lots of conversations, so forth. 00:39:39.034 --> 00:39:42.088 <v Emily Blumenthal>Yeah, I'm pretty active on LinkedIn. 00:39:42.701 --> 00:39:44.166 <v Melissa Gonzalez>You have to search for Melissa Gonzales. 00:39:44.166 --> 00:39:45.291 <v Melissa Gonzalez>Why enough on LinkedIn? 00:39:45.291 --> 00:39:47.500 <v Melissa Gonzalez>Because if you just search more for them, balls there's a couple. 00:39:47.500 --> 00:40:00.791 <v Melissa Gonzalez>Oh so LinkedIn's great and you can follow my podcast, which is retail refined, and we have some great gas from there and that's probably the best you way and you know that'll end up in my inbox, though. 00:40:02.059 --> 00:40:03.423 <v Emily Blumenthal>Melissa, thank you so much. 00:40:03.423 --> 00:40:16.059 <v Emily Blumenthal>This has been so enlightening from so many different angles and I know the takeaways for this are vast and hearty, and I just want to thank you for being part of handbag designer 101 today. 00:40:16.059 --> 00:40:18.208 <v Emily Blumenthal>Yes, thank you for having me. 00:40:18.208 --> 00:40:20.402 <v Emily Blumenthal>Thanks for listening. 00:40:20.402 --> 00:40:25.699 <v Emily Blumenthal>Don't forget to rate and review, and follow us on every single platform at handbag designer. 00:40:25.699 --> 00:40:26.661 <v Emily Blumenthal>Thanks a bunch. 00:40:26.661 --> 00:40:30.186 <v Emily Blumenthal>See you next time you.