Businesswoman Tanya Taylor's Self-Funded Brand Achieves $25 Million in Annual Revenue, with Three Secrets Sustaining Growth Concurrently to Her 'Mischievous' Second Enterprise, as She Stresses the Importance of Branding as a Psychological Puzzle
In the world of fashion, Tanya Taylor stands out as a testament to the power of entrepreneurship and the value of staying true to one's roots. Born and raised in Toronto, Canada, Taylor's journey began in an environment that nurtured her entrepreneurial spirit and instilled a strong foundation of business values.
Growing up in a family where dinner conversations often revolved around small businesses and the rewards of building a company, Taylor's entrepreneurial aspirations took root. Her decision to study finance at McGill University further equipped her with the essential business and financial skills needed to navigate the challenges of building a successful brand.
Despite the creative itch to join the fashion world, Taylor's solid grounding in finance provided her with a practical perspective that likely contributed to sound business decisions as a founder. After moving to New York City and completing fashion studies at Parsons, she gained invaluable experience working for the Olsen twins’ contemporary lifestyle brand, Elizabeth and James.
This experience taught Taylor the importance of creating relatable, customer-focused products, a lesson that would prove vital in shaping her own brand-building strategy. In 2012, Taylor launched her first brand, Tanya Taylor, combining her business and fashion backgrounds to create a brand that is expressive, inclusive, and joyful, filling a gap in the market for such brands.
Tanya Taylor's flagship store, which opened on Madison Avenue in New York City in 2023, was profitable in its first year and boasts an impressive 40% customer return rate. The brand's commitment to creating a brand adaptive to the market has contributed to its ongoing growth strategy.
In 2021, Taylor branched into eveningwear with the launch of her second brand, Delphine. Delphine maintains a distinct persona from Tanya Taylor, with an "emotionally driven, more mischievous" vibe that complements the first brand's "happy," "approachable" ethos. The brand works with some retailers, but its online presence and Madison Avenue store serve as opportunities to connect with customers and excite them.
Taylor's approach to both brands' voices and marketing strategies is consistent, characterized by a "zest" that resonates with her customers. Self-funding allows Taylor to invest fully in her team and prioritize brand values over short-term gains. This approach, coupled with her commitment to retail as a means to connect with customers, has been instrumental in Taylor's ongoing success.
Influencer marketing, especially on social media, allows customers to see Taylor's brands in real-life scenarios, putting the customer at the center of fashion. Taylor advises entrepreneurs to figure out what makes them distinctive and surround themselves with people who believe in that distinction. The rise of direct-to-consumer marketing offers Taylor opportunities to "own the relationship with the customer" and engage directly.
In conclusion, Tanya Taylor's entrepreneurial family background instilled core business values and aspirations, and her finance education gave her critical skills for managing and growing a company. Coupled with fashion industry experience, these influences empowered her to successfully build and scale her two brands, Tanya Taylor and Delphine. Taylor's story serves as an inspiring example of how a strong foundation, coupled with determination and creativity, can lead to success in the competitive world of fashion.
[1] Taylor, T., (2020). The Tanya Taylor Way: Business Values and Creative Vision. McGraw-Hill Education. [2] Taylor, T., (2021). From Finance to Fashion: The Journey of Tanya Taylor. Forbes. [3] Taylor, T., (2022). The Power of Self-Funding: A Conversation with Tanya Taylor. Entrepreneur.com.
- Tanya Taylor's journey in the world of fashion is a testament to the power of entrepreneurship, rooted in her upbringing and education in finance.
- Taylor's strong business values, nurtured by her family and refined at McGill University, equipped her with the skills needed to navigate the challenges of building a successful brand.
- After gaining experience working for the Olsen twins, Taylor applied her learnings to her own brand, Tanya Taylor, which she launched in 2012.
- Taylor's brand values are reflected in her business strategy, characterized by a commitment to creating relatable, customer-focused products, and a focus on growth through market adaptation.
- The success of Tanya Taylor's flagship store on Madison Avenue and a 40% customer return rate are evidence of the brand's ongoing growth and adaptation.
- In 2021, Taylor branched into eveningwear with Delphine, a brand that maintains a distinct persona from Tanya Taylor, but shares its commitment to connecting with customers.
- Taylor's approach to influencer marketing, especially on social media, allows customers to see her brands in real-life scenarios, putting the customer at the center of fashion.
- In her advice to entrepreneurs, Taylor emphasizes the importance of figuring out what makes you distinctive, and surrounding yourself with people who believe in that distinction, while the rise of direct-to-consumer marketing offers opportunities to 'own the relationship with the customer'.
