Ep 19 | Lindsey Boyd
How To Create a Trusted Brand and Transform an Industry
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Lindsey Boyd is the co-founder of The Laundress, a premium collection of eco-friendly laundry and home cleaning products.
Before starting the company, Lindsey was working in high-end fashion in NY as a manager of Chanel’s Ready-to-Wear division. While working in the industry, Lindsey noticed a real need and void in the market. Although consumers were willing to spend a lot of money on their clothes, they were spending even more money on dry cleaning - which was not only toxic but also damaging to their garments. After years of researching and understanding how detergents work, Lindsey and her college friend turned business partner, Gwen Whiting, decided to launch eco-friendly detergents that were gentle enough to be used at home on dry-clean only items.
They bootstrapped, crowdfunded (before crowdfunding was even a thing), and took a small SBA loan to launch their business For years the company struggled to make a profit, but they eventually grew a cult and loyal following, and in 2019, sold to Unilever for a reported $100 million dollars.
Show Notes
Lindsey explains why she decided to switch majors to pursue her interest in fashion & business [2:38]
Lindsey discusses her side hustles and how that impacted her confidence as an entrepreneur [7:23]
How Lindsey and her co-founder explored different businesses & decided on the Laundress [14:18]
Lindseys describes how she created her business plan and key advice on creating goals [21:52]
Lindsey shares how she formulated and created laundry products with no experience [26:56]
How Lindsey self-funded the business and didn’t take outside capital [34:30]
Lindsey walks through how she dealt with rejections and skeptics [38:08]
How Lindsey weathered the 2008 financial crisis and created a profitable company [44:26]
How Lindsey deals with her mental health as an entrepreneur [48:58]
Lindsey explains her experience selling her company for a reported $100 million [51:14]
Key lessons and advice Lindsey shares with all new entrepreneurs [55:10]
Follow Lindsey:
Personal Instagram: https://www.instagram.com/lindseyjuliaboyd/
Company Instagram: https://www.instagram.com/thelaundress/
Company Website: https://www.thelaundress.com/
