Dylan Lauren, founder and CEO of Dylan's Candy Bar, discusses the economics of flagship stores, why it's so personal to her to remain hands-on atop her company, and why her father, the iconic fashion designer Ralph Lauren, told her to go bigger—not smaller—when launching her candy empire.

"He understood that it was Disneyland," she says. "When I took the first flagship, he's like, 'Go bigger. Don't do a little small mom-and-pop candy store. Make it big.' I took 15,000 square feet, which is a big risk, especially in New York City. But he really understood that right from the start."

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