Podcast Summary
From fashion inspiration to iconic brand founder: Passion and determination can lead to the creation of iconic brands, even during challenging times. Inspiration, hard work, and support from loved ones can pave the way for success.
Determination and passion for quality craftsmanship can lead to the creation of iconic brands, even during challenging times. Roger Saul, the founder of Mulberry, shared his origin story on The Disruptive Entrepreneur podcast. Growing up in the late 60s and 70s, Saul was inspired by the fashion scene and military uniforms, leading him to pursue a career in the fashion industry. After finishing school and receiving a scholarship to study in London, he found himself working for a company he didn't want to be a part of. Instead, he took a chance and began working in a boutique, eventually becoming a manager and discovering a market for snake skin chokers. With the support of his father, Saul started Mulberry, selling rough saddle skin belts and accessories. Despite facing challenges, his passion and determination led him to create a successful and iconic brand.
From belts to handbags: Roger Saul's journey with Mulberry: Roger Saul's success with Mulberry came from designing in Britain, sourcing materials in Europe, predicting trends, and thriving on exports, but he overcame a recession by adapting and innovating.
Roger Saul's journey with Mulberry began in 1971 with £500 from his 21st birthday and the creation of belts as the handbags of the time. The company grew rapidly through the 1970s, with Saul designing and manufacturing in Britain while sourcing materials in Europe. He sold samples to European boutiques and designed for top European and American fashion brands, giving him an advantage in predicting trends. Mulberry's success was largely driven by exports, reaching 80% by the end of the 1970s. However, the first world recession in 1980 caused a sudden increase in prices in the American market, posing a significant challenge to the company. Despite these obstacles, Saul's ability to adapt and innovate helped Mulberry continue to grow and thrive.
European designers faced challenges during economic recession, Mulberry's Roger Saul found inspiration from British culture: During economic hardships, Mulberry's Roger Saul drew inspiration from British culture to create iconic blouson jacket, saving the brand
During the economic recession in the late 1970s and early 1980s, European designers faced significant challenges, including losing their businesses in the US and having to downsize due to unfavorable exchange rates. However, during this difficult time, Mulberry's designer, Roger Saul, found inspiration from English hunting, shooting, and fishing, which led to the creation of the iconic blouson jacket. This collection, which showcased Britishness, became a global success and saved the brand. After this, Saul continued to draw inspiration from various aspects of British culture to sustain Mulberry's success throughout the 1980s.
Creating unique exhibitions stands led to fashion concessions and global success for Mulberry: Mulberry's founders innovated by creating unique exhibition stands, brought the concept to department stores, introduced a successful leather diary system, franchised shops worldwide, and stayed adaptable to market trends.
Innovation and adaptability are key to success in business. The founders of Mulberry started by creating unique exhibition stands using gym bars, director's chairs, and pine coffee tables. They brought this concept into department stores, creating the first fashion concessions. Later, they opened a small shop in Paris and introduced the Mulberry Filofax, a leather diary system. When they couldn't secure the rights to continue producing the Filofax, they designed their own product, the Mulberry Planner, which became an iconic and successful item. As the brand grew, they franchised shops around the world, financing expansion through third parties while maintaining control over design. Throughout it all, they stayed attuned to market trends but also knew how to adapt and sustain their business during less fashionable periods. This agility and flexibility allowed Mulberry to thrive and become a globally recognized brand.
Pivoting and exploring new opportunities during economic downturns: During economic downturns, businesses can pivot and explore new opportunities by building partnerships, collaborating with experts, and staying attuned to consumer behavior and trends.
Adaptability and diversification are key to business success. During times of economic downturn, such as recessions or global crises, companies must be able to pivot and explore new opportunities. For Mulberry, this meant expanding into new industries, such as home goods and high-end watches, when their primary market for handbags was struggling. By building partnerships and collaborating with trusted experts, Mulberry was able to create successful new product lines and maintain growth. Additionally, being attuned to consumer behavior and trends, such as the shift towards "cocooning" during the recession, allowed Mulberry to anticipate and meet changing market demands. Overall, staying flexible and open to new possibilities can help businesses weather economic challenges and thrive in the long run.
Mulberry's journey to maintain relevance in the fashion industry: To stay relevant in the fashion industry, brands must constantly innovate and adapt to changing consumer preferences and market trends. Mulberry did this by introducing new products and technology-inspired designs, but faced financial difficulties due to external factors. They survived by moving production overseas and bringing in external investment.
Staying relevant in the fashion industry requires constant innovation and adaptation to changing consumer preferences and market trends. Roger Delanzio, the former CEO of Mulberry, shared his experiences of maintaining the brand's edge during the nineties when they faced competition from Prada and Gucci. To counteract this, Mulberry introduced bright nylon bags and technology-inspired leather covers, which helped them regain their trendiness. However, they faced financial difficulties due to the soaring pound and high-interest rates from venture capitalists. To survive, Mulberry had to move their production overseas, which was a significant shift for the British designer manufacturing base. The decision proved successful, but it came at a cost as Roger had to bring in external investment. Ultimately, Mulberry's survival depended on their ability to adapt and innovate in a rapidly changing market.
Maintaining control in business partnerships: Having over 50% ownership is crucial to maintain control in business partnerships. Adapt and focus on survival during tough times.
Control and clear objectives are crucial in business partnerships. A forgotten objective can lead to difficult times and potential loss of control. Roger shares his personal experience of a traumatic 2-year battle to maintain control of his brand, despite having a larger share of the business. He learned that having over 50% ownership is essential to maintain control, especially when dealing with a powerful business figure. However, this challenging experience led Roger to the next successful phase of his career, focusing on sustainability and regeneration in the fashion industry. During tough times, such as the pandemic, it's essential to adapt and focus on survival, as those who are in the right place may thrive as they come out of the difficult period.
Starting a business with self-funding vs accepting investments: Entrepreneurs must consider priorities and be prepared to make sacrifices for growth, whether through self-funding for full control or accepting investments for resources and expertise.
Running a business involves adapting to various circumstances and making tough decisions about financing and control. The founder of Mulberry shared his experience of starting self-funded, then accepting investments, and eventually losing control. Self-funding allows for full control, but growth may be slower. Injecting capital, whether from co-founders, VCs, or the stock market, can bring needed resources and expertise, but also comes with the loss of control. Ultimately, it's essential for entrepreneurs to consider their priorities and be prepared to make sacrifices in order to grow their business. The speaker's journey with Mulberry, from planting trees on a historic farm to facing the challenges of COVID-19 and beyond, underscores the importance of resilience and adaptability in entrepreneurship.
Navigating personal sacrifices in business growth: Making tough decisions to invest in businesses can lead to significant growth but also personal consequences. Evaluate opportunities carefully and be prepared for potential challenges, including loss of control or personal sacrifices. However, growing a business also offers potential rewards, so staying open to opportunities is important.
Creating opportunities for business growth may lead to relinquishing control and personal sacrifices. Roger shared his experiences of making tough decisions to invest in businesses like Marlborough and Mulberry, which ultimately led to significant growth but also personal consequences. He emphasized the importance of evaluating opportunities carefully and being prepared for potential challenges. For instance, external investors might require changes that could impact personal benefits or control. However, Roger also highlighted the potential rewards of growing a business and the importance of staying open to opportunities, even if that means letting go of some level of control. Overall, the conversation underscores the complexities and risks involved in business growth and the need for a clear understanding of the potential outcomes.
The merits of self-education and personal experiences shared: Self-education allows learning at one's own pace and exploring diverse topics. Passion and instincts are important in career choices.
Both self-education and traditional education have their merits, but the ability to learn at one's own pace and explore various topics makes self-education a valuable choice. The speaker, Roger, shared his greatest career high was winning the Porto Grand Prix with his Alfa Romeo P3, and his greatest low was the uncertainty of financial struggles during brand creation. He chose cars over fashion because of his passion for driving, and his best advice was to sometimes heed warnings but ultimately follow one's instincts. Additionally, Roger shared anecdotes about his love for various cars, including the Alfa Romeo 8c Spyder and his current electric mini.
Regrets from Missed Opportunities in Business and Racing: Missing opportunities for extra funds during IPOs and personal experiences can have long-term consequences. Learning from past mistakes and adapting to new knowledge is crucial for success.
Missing out on an opportunity to take extra funds during a company's initial public offering (IPO) can have significant consequences. This was a regret for Roger, as his company, Mulberry, could have benefited from the additional cash during difficult economic times. Additionally, Roger's personal regrets include missed opportunities to race in Sicily and Le Mans due to his father's death. He also believes that taking calculated risks, which may seem dangerous to others, is essential for success. However, his perspective has changed on certain matters, such as sustainability and ethics, which were not prioritized in the past. For instance, he no longer races his P 3 due to concerns about fuel consumption and sustainability. Overall, Roger emphasizes the importance of learning from experiences and adapting to new knowledge.
Disruptive Entrepreneur Roger Bernerd's Focus on Dialogue and Change: Roger Bernerd, a disruptive entrepreneur, values conversation, sustainability, and individuality in business. He admires the Queen for her disruptive abilities and criticizes fast fashion, advocating for change without aggression.
Roger Bernerd, a disruptive entrepreneur, believes in the power of conversation and understanding different perspectives. He recognizes that he may not be able to change the world, but he can influence it through dialogue. He also emphasizes the importance of sustainability and individuality in business, and is currently focused on the food industry revolution with Sharpen Park. Bernerd expressed his admiration for the Queen as the most disruptive figure in history due to her extraordinary experiences and ability to speak without restriction. He criticized fast fashion and urged for positive change in the industry. The word "disruptive" to him means forcing change without aggression, and he encourages open-mindedness and adaptability. To follow his ventures, listeners can focus on Sharpen Park and his son Freddie's Kill the Court.
Rob Moore Launches New Platform rob.team for Exclusive Content: Rob Moore celebrates 5-year podcast anniversary by launching a new platform, rob.team, offering exclusive content for a monthly fee, including deep dives, live Q&A sessions, challenges, premium ticket upgrades, discounts, access to exclusive events, and personal calls for early members.
Entrepreneur Rob Moore is celebrating the 5-year anniversary of his podcast, The Disruptive Entrepreneur, and the 600th episode by launching a new decentralized platform, rob.team. For a monthly fee of £5 or $5, members will receive exclusive content, including deep dive pieces, live Q&A sessions, challenges, premium ticket upgrades, discounts, and access to exclusive events and webinars without replays. Additionally, the first 60 members will receive a 15-minute personal call with Rob, and the first 256 will join an exclusive WhatsApp group with Rob's mobile number for strategy sharing. Rob.team is an alternative to his Facebook supporter program for those who don't use Facebook. The platform includes access to past courses and documents, such as the 6-stage 7-figure launch formula and how to write a best-selling book. Rob encourages potential members to join quickly due to the high volume of his podcast's subscribers and weekly downloads.
