Michelle Aznavorian is the pint-sized designer behind a very successful label, and that's because she knows what the Misha Collection woman wants.
“She's 24 to 35, she's very much a modern day woman, she's confident, she's sexy but very classy, she likes simple silhouettes, she likes to party and go out and look glamorous when she goes out.”
The 28 year old has been honing her skills for years - she's been working towards this since she was 16.
“My mum was taking me to op shops and I'd buy designer clothing, so I'd buy very expensive labels and I'd sell them very cheap on eBay,” she says.
She made enough money to send herself to the Melbourne School of Fashion, where she learnt the art of design, and the importance of business management.
Soon enough, she started another business, importing earrings from Asia and selling them online.
Michelle Aznavorian, founder of Misha Collection Source: SBS
Michelle says, “I had an idea to start a jewellery business so that's when I first heard about Alibaba.”
“I saw lots of jewellery products and I thought well, 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 Jewelry started.”
Then, she began importing dresses, and Misha Jewelry became Misha Collection.
Clients were happy and profits were up, and with the extra income came more freedom. So naturally, Michelle 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 2 weeks.”
She managed to achieve this in a space of a year. With such rapid growth, family support was vital.
“It was just me, and it was my mum as well.”
“Within 6 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 [to expand] the business.”
Reinvestment has been key - the business has grown 50 per cent, year on year since 2014.
Boosted by Trade Victoria, which has offices located across the globe, Misha Collection now stocks 80 stores locally and internationally. Half of her sales are to overseas clients, and exports account for nearly half of the $8.5 million turnover.
Despite phenomenal growth in such a short time, Michelle still wanted more. Celebrity clients can be a big part of a brand's success, and in 2016, Michelle took Misha to the next level.
Enlisting the pull of American model, Bella Hadid, was a bold and unconventional move for a company still in relative infancy, but it worked.
“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,” she says.
Bella Hadid sports Misha Collection designs at Mercedes Benz Fashion Week. Source: SBS
“Celebrity was my main marketing strategy since I started. So, when I was only making little money I was investing it into PR and that's something that helped grow the brand.”
“Celebrity placements are a huge part of the business to date, and it helps not only with sales but brand recognition, which is really important.”
However, finding this level of success in the heavily competitive fashion industry is a rarity. Michelle says her unique designs draw in the attention of customers.
“I think it's really important to have unique pieces so nothing is ever copied, everything is very organic. Everything is initially sketched by me.”
Having competitive prices to appeal to a broader market was also critical to Misha Collection’s brand.
“The price point will vary… we are really targeting a broader market so the younger girl who doesn't have a high disposable income can also buy a Misha dress,” Michelle says.
High-class fashion at competitive prices is an important part of Misha's brand. Source: SBS
Given her meteoric rise, Michelle had to think on her feet a lot of the time, so one of her business regrets, is not having someone help her navigate through those early days.
“There are a lot of challenges. 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’re not feeling so alone.”
Want to find out the secret to small business success? Tune into #BizSecretsSBS at Sundays 7am on SBS, stream on SBS On Demand, or follow us on Facebook, Twitter or Instagram.
