The little business that grew - and grew

Mishas Collection

Source: SBS

An early passion for fashion has seen a Melbourne entrepreneur fulfill her life-long dream of starting a successful fashion label. The founder of Misha Collection secured one of the world's most coveted models just as her career was about to take off.


Michelle Aznavorian may be small in stature but she's the big name behind a very successful label.

 

The 28 year-old has been honing her skills since she was 16 and knows what her client wants.

 

 

"She is about 24 to 35, she is very much a modern-day woman, she's confident, she's sexy but she's very classy, she likes simple silhouettes, she likes to party, go out and look glamorous at events."

 

Twelve years ago she first started with a small-scale simple idea.

 

She bought expensive designer clothes from op-shops, and sold them cheaply on eBay.

 

She made enough money to send herself to Melbourne School of Fashion to learn about design and business management before starting another business: importing earrings from Asia and selling them online.

 

"I had an idea to start a jewellery business so that's when I first heard about Alibaba and I went and searched what products were on Alibaba and I saw lots of jewellery products and I thought well, that's interesting because I can probably buy and sell them like I did with my eBay business.  So via Facebook I started to sell jewellery products and that's how Misha Jewellery started."

 

She soon moved into importing dresses and that, with Misha Jewellery, became Misha Collection.

 

And with some extra cash, she started looking for the next challenge.

 

 

"So after I was importing dresses I felt that I needed to evolve and create something of my own so I started to design my own collection and it was a collection of 12 pieces and it actually sold out in two weeks, so that's when I really found a gap in the market."

 

This all happened in the space of a year and support was vital.

 

 

"It was just me and it was my mum as well.  She was helping out with customer service and everything moved really, really quickly.  Within six months of the launch I had a warehouse and so she would work on the customer care side of things and I would look into wholesale enquiries and product development and designing and going off to China and expanding the business."

 

She says reinvestment has been key to her success, and the business has grown 50 per cent every year since 2014.

 

A loan let the business move into a third location, and the backing of Trade Victoria helped Misha Collection stock 80 stores locally and internationally.

 

Half of her sales are to overseas clients and exports account for nearly half of the $8.5 million annual turnover.

 

But she says staying competitive in a saturated market is crucial.

 

"Well I think it's really important to have unique pieces so nothing is ever copied, everything is very organic and everything is initially sketched by me. I think it's really important to have competitive prices, high quality product and unique designs and that keeps the customer coming back. So the price point will vary from $280 all the way to $560 so we are really targeting a broader market - the younger girl who doesn't have a high disposable income can also buy a Misha dress."

 

But wanting more, Ms Aznavorian turned to a bold and unconventional move for a young company: enlisting the star-power of American model Bella Hadid.

 

 

"When we brought out Bella Hadid for Mercedes Benz fashion week, that was the moment we really cemented the brand in the market, so that was a critical time for us and it was a very successful opportunity that we took on. Celebrity was my main marketing strategy since I started so when I was only making little money I was investing it, the majority, into PR and that's something that helped grow the brand, so celebrity placements is a huge part of the business to date and it helps not only with sales but brand recognition which is really important."

 

But she concedes her phenomenal growth in such a short time has come at a cost and given way to one of her business regrets.

 

 

"I would say it's important to have a mentor.  I've never had a mentor but I think that if I was to do this all over again just for somebody else to guide you, to help you make the right decisions, so you are not feeling so alone."


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