Retail shopping is a favorite recreational activity for a lot of people. Consumers can’t seem to lose excitement over the newest goods in the market and are just willing to shell out some cash for whatever purchase they want and need. This most likely contributes to the fact that the National Retail Federation projects further growth in the retail industry this year.
That is exciting news for aspiring entrepreneurs looking to enter the retail industry. Add to that the good opportunities and fortune that await them, much like what these promising retail entrepreneurs have experienced and achieved so far. This year, watch out for these names in the world of retail:
Rachel Shechtman
Founder and CEO of STORY
As a former brand consultant for Kraft, TOMS shoes, JC Penney, and Lincoln, Rachel Shechtman is no longer a beginner in the retail industry. In 2011, she founded the New York-based concept store STORY. Known for its ever-changing model, STORY is now considered a top retail destination, making Rachel an entrepreneur to watch out for.
Andy Krantz
Co-founder of Paravel
Young promising entrepreneur Andy Krantz must have his finger on the pulse of business and luxury fashion and knows the needs and wants of the modern-day traveler. And so, he set out to create Paravel with Indré Rockefeller. This luxury travel brand launched in 2016 uses innovative materials and combines modern design with meticulous construction to create beautiful travel bags and luggage, which consumers love.
Ooshma Garg
Founder and CEO of Gobble
Dinner kits delivered right to your doorstep, anyone? Former J.P Morgan and Morgan Stanley associate Ooshma Garg can do that for you through her company called Gobble. Since it was launched in 2010, it has evolved from being a company that simply provides home-cooked meal recipes into a popular subscription-based meal service that it is now. With its healthy and delicious meals, it’s possible for Gobble to attract more busy professionals and health enthusiasts.
Jenn Hyman
Co-founder and CEO of Rent the Runway
Former IMG Director of Business Development Jenn Hyman has revolutionized renting and fashion by building Rent the Runway – a fashion and logistics company she co-founded with former schoolmate Jennifer Fleiss. Through the company’s rental subscription service, consumers can rent fashionable clothes and accessories from over 500 designer brands. As of 2017, the company has over 8 million members and acquired around $190 million in venture capital funding.
Taylor Offer
Co-founder of FEAT Socks
He may still be young, but Taylor Offer can prove that he has a lot to offer to consumers, particularly sock collectors and enthusiasts, with the success of FEAT Socks. This sock brand, which he co-founded with former schoolmate Parker Burr in 2015, offers subscription packages for those who are into more fun and stylish socks. So far, the brand has collaborated with influencers in the fields of sports and social media.
These are just a few names of new entrepreneurs and brands that we should keep an eye on in the coming months or years. Retail is definitely open to anybody looking to start a business. Why not give it a try? You might have a bright future in this industry, too.
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