E022 - Reece Wabara: Professional Football to £100m Fashion Brand
Oct 30, 2023
02:34:04
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Former Manchester City defender and CEO of a successful fashion label, Reese Wabara, discusses the secrets and mindset behind his monumental success. Topics include brand startup, entrepreneurship, financial advice, balancing trends and value, loyalty and trust, and the struggle for perfection.
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Quick takeaways
Starting a clothing brand while playing professional football requires a clear vision and niche.
Opening a physical store provides strategic advantages in brand perception and customer experience.
Focusing on the growth of the women's line and meeting their fashion needs contributes to overall brand success.
Strategic decisions prioritizing brand identity, quality, and customer experience are essential for long-term success in the fashion industry.
Financial planning and mindful choices are crucial regardless of regular income.
Cultivating authentic and loyal friendships is important for personal and professional growth.
Deep dives
Building the Brand and Juggling Football
The speaker reflects on starting his own clothing brand while still playing professional football. He emphasizes the importance of having a clear understanding of the brand's vision and niche and the challenges of balancing both football and business.
Choosing the Right Location for the Store
The speaker discusses the decision to open a physical store on Oxford Street and the strategic advantages it provides in terms of brand perception and customer experience.
Catering to the Women's Market
The speaker talks about the growth of the women's line within the brand, describing the shift in product assortment to appeal to women and meeting their fashion needs.
Long-Term Strategy and Sustainable Growth
The speaker highlights the importance of making strategic decisions for long-term success in the fashion industry, prioritizing brand identity, quality, and customer experience over short-term growth and trends.
Financial Control and Planning for the Future
Financial control can be challenging when you have a steady income and predictable expenses. Many people struggle to save or invest wisely when money is consistently coming in. It is important to plan for the future and make mindful choices with your finances, regardless of how regularly you receive income.
Choosing Friends Wisely
The importance of carefully selecting friends who are loyal and trustworthy is emphasized. It is advised to be cautious of friends who may play both sides or have ulterior motives. The speaker encourages maintaining authentic relationships with friends who have proven their loyalty, rather than keeping friendships with those who may not have genuine intentions.
Maintaining Enthusiasm During Difficult Times
The ability to maintain enthusiasm, energy, and excitement, even during challenging and lonely times, is highlighted as a trait of successful individuals. The speaker encourages perseverance and staying focused on personal and professional growth, even in the face of obstacles and setbacks.
Balancing Fun and Financial Responsibility
The importance of finding a balance between enjoying the present and being financially responsible is discussed. The speaker shares personal experiences of prioritizing work and financial stability during their 20s, recognizing the value of utilizing these prime years to build a secure future. They caution against excessive spending and instant gratification, advising to weigh the long-term benefits of financial discipline.
Analyzing the fashion industry for success
The speaker discusses the process of analyzing the fashion industry, observing financial statements and identifying successful brands. They emphasize the importance of finding unique points of difference from competitors to capture and retain customers.
The future of fashion trends
The speaker predicts a shift towards classic, minimalist styles in the fashion industry, highlighting the growing preference for timeless and versatile pieces. They also note the influence of the Middle Eastern market and the need to cater to different audiences.
Finding a balance in business strategy
The speaker emphasizes the importance of finding a balance between staying true to one's vision and adapting to changes in the market. They discuss the challenges of maintaining enthusiasm, hiring the right team, and making calculated business decisions to ensure long-term success.
Introducing Reese Wabara, former Manchester City defender and CEO of one of Britain’s most successful fashion labels. With the help of Gymshark founder Lewis Morgan, Reese ventured into entrepreneurship whilst in the midst of his football career. Manière De Voir was established in 2013 with the clear goal of creating trend-focused contemporary designs at competitive prices. After retiring from football in 2017, MDV skyrocketed with a 187% YoY growth, whilst becoming a staple wardrobe choice for celebrities across the globe.
In today’s episode, we dive deep into Reese’s story, uncovering the secrets and mindset behind his monumental success.
» Topics « Brand startup Business management Entrepreneurship Marketing Financial advice Friendship & relationships Loyalty & trust Failure & regret Hedonism & philosophies Balancing trends & value Perfectionism versus the “good enough” mindset
