Jan Cameron has well and truly earned the moniker of Australia’s retail queen, but there’s more to the Tasmania-based billionaire than meets the eye.
In addition to founding outdoor clothing company Kathmandu in the 1970s, Cameron is the owner of Retail Adventures – formerly Australian Discount Retail – which operates a range of discount chains including Chickenfeed, Sam’s Warehouse, Crazy Clark’s and Go-Lo.
Retail Adventures boasts revenue of more than $1 billion, while Cameron’s personal fortune is estimated at more than $300 million.
Despite being incredibly media shy, Cameron has donated millions to charities over the years. She has also committed $5 million to establish the Animal Justice Fund, which will be based in Tasmania.
But what has enabled her to remain relevant in the retail market for more than 30 years, and what can start-ups learn from her? StartupSmart identifies 10 things you can learn from Jan Cameron.
After leaving Australia for New Zealand at the 20, Cameron started making sleeping bags from her bedroom. She eventually started her first outdoor equipment business called Alp Sports.
While she says she almost went bankrupt several times during the early days of this business, she survived and sold the company in 1987, just before the sharemarket crash. Using the proceeds of this business, she went on to found Kathmandu.
Cameron built Kathmandu into the market leader in Australia and New Zealand. In 2006, she cannily sold out at the height of the private equity boom, netting over $200 million in the process.
According to Cameron, one of the secrets to her success is frugality, a rare attribute among businesspeople, particularly billionaires.
“The only time I fly business class is when I use frequent flyer upgrades,” she says.
“To this day, I try and extract the value out of everything that I do. Clothes – I wear into the ground. The ironic thing is I’ve made a fortune selling clothes and spend so little buying clothes for myself.”
Cameron has also revealed that she never uses a computer, preferring to do business via telephone.
Cameron isn’t afraid to return to a sector and try to take on her old companies. Just last week, she confirmed she has taken a significant stake in up-and-coming outdoor adventure wear company Macpac, putting her in direct competition with Kathmandu.
“The deal has only just been signed, so it’s early days, but we’ll be looking at growth opportunities and taking on Kathmandu, Paddy Pallin, Mountain Designs and other competitors,” Cameron says.
“I think there’s a lot of growth left in the market… It’s a market that’s far from saturated.”
Cameron has learnt to leverage brands that have a strong connection with customers, as seen by the incredible success of Kathmandu, which is still recognised as an iconic Australian brand.
Within Retail Adventures, for example, the Chickenfeed brand is fast becoming the flagship chain. Go-Lo stores in Victoria have already rebranded as Chickenfeed stores, with sales up 50% in the first weeks of trade.
According to Cameron, the Chickenfeed brand has personality and history, which appeals to staff in addition to customers.
“It represents fun, while offering good value. Those things are terribly important: not only for the customer, but also for the staff,” she says.
Cameron says she started making sleeping bags when she became disenchanted with the lack of choice in the market, stumbling upon an under-capitalised market.
“I started making sleeping bags at first because I couldn’t believe the prehistoric products that were available in Australia in the 1970s,” Cameron says.
“Because I was an avid mountaineer myself at the time, I had a good understanding of why functional, effective products were so necessary, and a good grounding in how to set about making them.”
Cameron set up Kathmandu as a one-stop shop for outdoors and camping goods, with a focus on delivering quality products – simple as that.
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