The story of Nasty Gal is very inspiring. Sophia Amoruso, the 28 year old founder and chief executive of Nasty Gal, is at the helm of a fashion forward company that supplies edgy and provocative clothing.
The company certainly has an impressive financial profile. It's a six year old start-up with sales rocketing 10,160% from 2008 to 2011, making Nasty Gal the fastest-growing company in Los Angeles. The company has secured two rounds of venture capital financing (first round of $9MM and second round of $40MM) to continue to grow the business. And, not to mention, it is pretty remarkable that the company is debt-free and has been profitable from the start. How many companies started during the recession have achieved the same coup?
I think it is great that the company currently manufactures 70% of its newest collection locally in the U.S. However, I really wonder if this will continue should the company continue to grow. We all know about American Apparel's struggles as a domestic manufacturer.
Personally, I am a customer of Nasty Gal. I like the selection of clothes the site carries and that most of the items are priced under $100. I also think the selection of clothes is very unique. The clothes sold on the website have a rock and roll vibe that still reflect current trends. I don't love that they don't offer discounts like most of the websites I shop on do and that certainly helps to explain the 60% profit margins discussed in the article. You are welcome, Nasty Gal!
Nasty Gal is an inspiration to me. I find it interesting how the idea for the company began with Miss Amoruso selling vintage clothing on EBay, something I do as well. Her foresight to advertise using social media is equally impressive. But what I love most about the company is the rags to riches story of the founder. Miss Amoruso was someone that survived and succeeded purely on instincts and passion. I love that "much of what the brand sells is a reflection of her own fashion whims".
Bette Davis would be proud!
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