Narciso Rodriguez had become well known by the silk dress that Carolyn Bessette wore when she married John F. Kennedy Jr.
in 1996. And Although Narciso had become famous in the fashion world he struggled financially. According to him he believed in the wrong people such as lawyers and other advisers that he believes jeopardized his business.
Narciso Rodriguez steps retraced:
-1980′s Ms. Karan’s (Anne Klein) Assistant
-Ms. Bessette’s (Calvin Klein Oversee VIP Clients) Assistant
-1990′s Cerutti’s in Paris
-1997 Rodriguez started his own business in Milan then moving to New York
-2002-03 Awarded American industry designer 2 years in a row
“People always talk about how you need investors,” Mr. Rodriguez said, “but they have no idea how hard it really is.” He laughed. “There are sharks out there.”
“The worst thing that has happened to me is all the bad advice I’ve received,” he said. “It’s also the best thing. It’s brought me to the place where I am today.”
Narciso’s business was in danger of going bankrupt so he contacted Ms. Karan. Ms. Karan then set him up with Gail Zauder who in turn formed the relationship between Narciso and the American Giant Liz Claiborne. And in the end, Narciso decided to sell his business to Liz Claiborne. Liz Clairborne purchased Narciso Rodriguez’s business for an estimated $12 million. Narciso will remain the creative director behind the company line.
There are many creative fashion designers who are successful, however running a company may require more that just creativity. It appears that if Narciso had a greater sense of business practices or business sense he may have not ever come to such a predicament. However, as he stated it brought him to where he is today. And though he sold his business, he did make a nice profit and is running his own clothing line as the creative force behind the company.
General note:
The fashion industry is approximately a $300 billion business that consists of traditional public businesses as well as private sector businesses.