A FASHION guru who lost everything during the launch of a Netflix show based on her life has come back strong – with her brand now boasting a net worth of $100 million.
The former boss of a clothing company saw her career falter temporarily when her company filed for bankruptcy – with her year-long marriage also coming to an end at the same time.
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California-born Sophia Amoruso, 40, found success as CEO of fast fashion brand Nasty Gal, which has featured collaborations with celebrities including model Daisy Lowe.
Before this success, she came from humble beginnings, leaving home at 17 and surviving by scavenging “dumps”.
At the same time, she set up her online store Nasty Gal Vintage, making a huge profit on retro items she bought cheap.
As her career progressed, launching Nasty Gal as an independent website, the San Diego native fulfilled her role by writing a book, titled Girl Boss, released in 2014.
In 2016, she was named one of the richest millionaires in the world by Forbes magazine, at the age of 32.
However, in the same year, the fashionable online retailer – in which she had invested with her own money – fell into financial difficulties.
After the company filed for bankruptcy, it was acquired by fast fashion retailer Boohoo in 2017, with Nasty Gal continuing to produce its own products.
In the same year, the TV series Girlboss – based on her book released three years earlier – hit the screens on the Netflix streaming service.
It featured actress Britt Robertson in the starring role of Sophia.
Speaking about bankruptcy, Sophia previously said candidly InStyle Magazine: “Nasty Gal struggled for years, so unfortunately this was less of a shock.
“We went through several rounds of layoffs and lawsuit after lawsuit and couldn’t keep up with the ever-changing retail model.
“After investing my own money in the business in 2015 and handing over the keys to a veteran CEO, I decided to build on my strengths and focus on what mattered most: the brand.
“I worked on general strategies and partnerships. I gave it my all. But it was too late.”
The same year Boohoo took over the brand, Sophia founded her own company, Girlboss Media.
It is a company that creates editorial content, podcasts and videos specifically for a female audience.
The company has a series of scholarships dedicated to women working in the arts, fashion, music and design.
Showing her strength – and how recovery is stronger than setback – she added to the publication: “The news of the bankruptcy broke last November while I was in Australia promoting my second book, Nasty Galaxy.
“I was at a networking brunch where I was going to speak to a thousand women.
“When your company’s death knell is the headline and you are literally in the spotlight, what do you do?
“I showed up. I covered the things I usually talk about on stage: my rise, my books, and what I learned along the way.
“And as much as I wanted to escape this public appearance without having to discuss the unraveling of my entire adult life’s work, I had to.
“All I could say, with tears streaming down my face, was, ‘Hey, it was my first business and I think I’ve come really far.’
“Because as a community college dropout in Sacramento, California, with no pedigree, I did.”
BUSINESS BABY
Sophia has already racked up a $100 million price tag for her online business, which she praised in the post as focused on “redefining success.”
On Instagram, Sophia recently revealed four key points for business success.
As part of a new mini-course, she described them as: “Identify and understand who your target customers are.
“Engage and build with your target customers.
“Refine and test with a small group.
“Simplify and automate your business using software.”
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This story originally appeared on The-sun.com read the full story
