Emma Grede, a friend/business partner of Khloe Kardashian and CEO of Good American, debuted the line in October 2016. What was once the biggest denim launch has expanded into a multibillion-dollar fashion empire that welcomes people of all backgrounds and sizes.
Grede has a hand in several companies, including the recently valued $3.2 billion Skims, which she co-founded with Kim Kardashian.
When she’s not starting up new ventures, she’s investing in budding business owners on the 14th season of ABC’s Shark Tank and spending time at home in Los Angeles with her husband, Swede Jens Grede (fellow entrepreneur), and their four kids.
In this interview with Entrepreneur, Grede discusses her experiences as CEO and previews this season’s Shark Tank.
Why did you need to take your financial situation to a TV show like Shark Tank?
I wasn’t sure what to make of it when they initially came up to me. However, I feel strongly about highlighting the successes of women and people of color in business, so it seemed natural to utilize this forum. This season has featured a record number of successful Black women business owners. Working with and supporting women entrepreneurs at the idea stage has been a blast for me.
What do you enjoy most about being a part of the show?
Associating with the business owners! It’s remarkable how quickly you can forget how challenging things were initially.
How would you like this season to go for you?
I had a goal in mind when I entered Shark Tank: to look for opportunities to finance women and initiatives focused on women that might not be considered promising by other investors.
Raising capital, entering a room, and presenting a plus-size consumer to a group of males in suits in New York is daunting. How can I get the money from folks who are utterly clueless about the issue? I considered my experience and pondered how I could aid similar business owners.
How do you decide which startup businesses to back?
Because of this, I tend to be myopic about the beginning. There is no shortage of brilliant minds in the world. Only a select few people have what it takes to transform a concept into a $100 million enterprise.
How many individuals do you oversee in your role as Good American’s chief executive officer?
I am responsible for 12 employees, some of whom require more supervision than others. I do have a fantastic management staff. Not that I would ever be a micromanager. One of my most significant pieces of advice is to find the most qualified candidates and step aside.
What do you ordinarily concentrate your efforts on?
When I consider my position, strategy and product are at the forefront of my mind. And, naturally, staffing, hiring, strategy, and product. It’s important to hire competent individuals and then step back. Although I am not an expert negotiator, I have the resources to bring in those who are.
You have some highly famous people working with you (the Kardashians). What strategies have you employed to ignore distractions and keep consumers thinking about your product?
When running a business, there will always be distractions, but I can put them aside and get the job done. I work toward actualizing our organization’s stated goals and objectives daily, ensuring that all of our efforts are directed toward promoting tolerance and acceptance. Every founder experiences distractions, but they must keep their eye on the prize.
Did you receive any pushback from industry veterans or warnings not to go that path when you originally debuted?
There was a sizable group of doubters. As much as I wanted to make money, I decided not to be discouraged. I had to find a way to make ends meet as a girl from East London.
What was first disheartening was how few individuals could see the necessity. Some women’s sizes were just disregarded. The “plus-size” population in the United States comprises 67% of women. I was always confident that this was a winning business strategy. Fortunately, we lucked out and found some excellent collaborators.
When will Good American continue to expand?
Our flagship shop is set to debut in the heart of Century City, California. It is presently being built and is expected to debut sometime in 2019. In other words, I can’t wait for everyone to see how we can make [the shop] genuinely welcoming to all kinds of people.
Contact Information:
Email: [email protected]
Phone: 6024139544
Bio:
Mark Porter is an accomplished entrepreneur and investor with a track record of identifying and filling niche needs in established markets. Through his various ventures and investments, he has developed a reputation for recognizing opportunities that others overlook.
Mark’s entrepreneurial spirit was evident early on in his career. He started his first business in college, and after graduation, he continued to build successful companies in a variety of industries. His businesses have filled gaps in the market and offered innovative solutions to longstanding challenges.
As an investor, Mark follows the same pattern, looking for companies that are not necessarily reinventing the wheel, but rather filling needs that no one knew existed. He has a keen eye for identifying innovative companies with strong growth potential, and he is committed to helping them succeed.
Mark’s success as an entrepreneur and investor is a testament to his strategic thinking and business acumen. He has a deep understanding of the market and is always looking for opportunities to create value. He is also highly regarded for his leadership skills and ability to build and manage successful teams.
