29. Hello Molly
Fashion retailer Hello Molly knew it wouldn’t be able to penetrate the saturated market of basic and casual clothes, so decided to find a niche instead.
Revenue: $22.5 million
Growth: 120.18%
Founder: Echo Liu (29)
Head Office: Rosebery, NSW
Employees: 25
Industry: Retail and consumer products
Website: hellomolly.com
Echo Liu, founder of online fashion retailer Hello Molly, succeeding in the fast-growing but increasingly saturated world of e-commerce has been all about knowing her customers.
Established in 2012 with $50,000 in initial investment and only a living room to call home, Hello Molly has quickly expanded into an international retail operation with more than $20 million in annual revenue.
A 120% increase in revenue since 2015 has landed the business the 29th spot on this year’s Smart50 list.
The business has managed to find a niche in the fashion market with its range of party and event wear, which Liu says has helped it stand out from an ever-growing number of online competitors and established retailers.
“We knew early on there was no point in stocking too many basics and casual clothes when the likes of big players such as Cotton On and Sportsgirl already had that market covered,” she says.
Honing in on party and event wear, Liu set about flaunting her products on social media, particularly through Instagram, at a time when retailers were just beginning to understand influencer marketing.
Today, the business focuses on offering customers in Australia, and the United States, affordable impact styles that suit weddings and other social events.
“If you want a basic pair of jeans or a t-shirt, go elsewhere,” Liu says, “but if you need something for a wedding, the races, or even just a night out with the girls, we have you covered.”
The business derives about half of its revenue from the United States, after beginning to focus on the market in 2014, opening a small office in Los Angeles.
Liu attributes the company’s success to fast shipping, which gets products from Australia to shoppers in America in three to four business days.
“Many customers praised our delivery, commenting that in many cases they received our goods faster than orders from US-based companies,” she says.
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