Earlier this year I had the absolute pleasure of listening to Caprice Bourret at London’s Business Show, and with the event taking place again today and tomorrow, I thought I would share what I took away from her truly inspiring talk.
First of all, she spoke about how at aged 30 she decided she needed a plan-b for her career (she was modelling still at the time and realised that her time in the industry may be coming to an end). The company that she set up as her plan-b had millions invested in it by Debenhams’ Terry Green and she was one of the first people to do a licencing agreement. Six years later she went it alone, buying the licence back and using Debenhams as her first stockist for her brand ‘By Caprice Products’.
She said she actually lost a quarter of a million on her first collection because the designs were what she wanted and not what her customers wanted. She had a lot of knock backs but kept on going and finally had Asos on board! Her stock was coming in from China and so in 2008 when the sterling dropped she lost a whopping £1.7 million! Ouch!
According to Caprice it can take 3 to 5 years to see a return… so I have a few years yet! But she says once you do make it you should give back- whether it’s to young entrepreneurs or charities it’s really important. I totally agree and have always aimed to give back when I can afford to. Some quotes that I jotted down from her talk are:
“Don’t comprise, its tough out there”.
“You pay more, you make more”.
“Look after your team, they make the magic happen”.
After the talk had finished there was an opportunity to have your photo with the lovely Caprice, so I got in the queue (I was right at the end of it), and waited to see her. I was afraid she wasn’t going to wait to speak to all of us but she did, and not only did I get my photo with her, she also said ‘get the damn bag in’ so now I have this fab photo of me and my friend Maria with Caprice and one of my Katherena bags!