From the living room of her apartment in New Jersey, USA, Jenny Lei, a 28-year-old American designer, watched with concern a mountain of 300 bags made by her that, in total, had been a investment of 28,000 euros. In the midst of unemployment and in her search as an entrepreneur to create the ideal work bag, the path had been complicated and dramatic: months of design, production and, finally, disappointment with only 20 units sold. “My plan failed miserably,” Lei confesses to CNBC Make it. At the same time, he remembers how distressing it was to see his savings disappear.
According to his story, the beginning of his business career took place at a time of transition in his life. While a graduate student at Cornell University, she found herself searching for a bag that could meet her needs. Frustrated by what the market offered, she made the decision to design one for herself, with features that would allow her to carry her laptop and other essentials efficiently. With your savings from a dropshipping side business, He invested 28,000 euros in the creation of a prototype, laying the foundations for what would become Freja.
However, according to what he told the personal finance media, when he received his first order of 300 units, the reality was harsh. The quality of the product left a lot to be desired, and initial sales were disappointing. Lei admits that, during that first year, the difficulties in selling her bags were overwhelming. Economic pressure prompted her to redouble her efforts, launching a second collection and betting on a strong advertising campaign on social networks.
Today, however, at 28 years old, she has become the CEO and founder of frejaa promising fashion brand based in New York which specializes in work bags and travel accessories. In just four years, his company has reached a surprising number of more than 10 million euros in revenue.
The takeoff of Freja and the tough competition
The moment of takeoff came in 2022, when Freja managed to generate 1.6 million euros in revenue, figures that reflected Lei’s hard work in marketing and his ability to reach new audiences. Their dedication paid off, and the following year profits skyrocketed, reaching the remarkable sum of 5 million euros, which allowed the brand to be on an upward trajectory, projecting 11.4 million by the end of 2024.
Freja’s growth is particularly notable in a fashion industry where competition is lethal. Lei has managed to differentiate itself not only through the minimalist design of its products, but also thanks to a strong commitment to sustainability. Despite the success, competition in the luxury handbag market is devastating. With a total value of 22.8 billion, giants like LVMH lead the industry with profits that exceed 16,000 million. Although Freja has established itself as a player in the market, Lei is aware that it must constantly adapt to changes in fashion and consumer needs.
“Significant achievement”
Katie Weir, a luxury industry expert, tells CNBC that for emerging brands like Freja, simple survival can be considered a “significant achievement”. Against this backdrop, Jenny has taken proactive measures, organizing events to build customer loyalty and serving as a mentor to other female entrepreneurs. Their goal is to expand their line and attract a broader audience, with the firm intention of continuing in the race.
#28yearold #designer #unemployed #savings #start #business #living #room #today #earns #million #euros #year
