In a mere two and a half years, Grana.com has raised over US$10 million from Alibaba’s Entrepreneurs Fund, 500 Startups, and MindWorks Ventures, and it has paved its way to becoming Hong Kong’s hottest e-commerce fashion brand.
Grana, “a serial entrepreneur from Australia”, set up his first venture as a university student, which was an on-campus coffee shop. He spent AUD$20,000 setting this up and, within nine months, Grana sold the shop for AUD$190,000. Now that’s entrepreneurial drive.
Grana visited his brother in Peru in 2013, where he discovered Peruvian Pima cotton and the high quality soft fabric that came from it which would make for a great T-shirt. He didn’t have any experience in the fashion industry, however, so he learned the business from scratch.
So, how did he disrupt the industry? Grana is a lean startup, which means fewer inventory and an ability to focus on what is really selling.
“We’re very data-driven. So, in any new product that we launch, we’ll always do very limited colors and limited numbers. And if we sell well, we’ll see that very quickly. And then if it’s doing well, then obviously we have a chase order, and then we will put that product in one of our timeless collections, timeless products.”
This just proves that success in entrepreneurship does not depend on size, or even experience.
Information and quotes accredited to Forbes.