Even before Cashmere Hair came to life, I knew right away that I wanted to make my own empire. I’m proud to say I’ve achieved my dream. Even better, I built my empire by women, for women, to support women. We take pride in our commitment to empowering women through beauty and confidence.
From a small shop in Beverly Hills, our journey into becoming a leader in the hair extension industry and, ultimately, a multi-million dollar brand with customers around the world was never easy. When we appeared before ABC’s SharkTank, although we didn’t get a deal, we got something even better, confidence in a business and a passion that was all our own to figure out and grow. We never gave up, and just because it wasn’t the right fit for a Shark investment, didn’t mean it couldn’t be a successful business. We didn’t truly need an investment, so we just moved forward.
We have always believed in the transformative power of hair and, at the same time, the potential of our venture. Our brand has grown exponentially, with not just one but two women leading the team. We’ve not only done it all on our own, it’s also ours. Making this dream come true could be possible, and here are my insights that may help your brand grow.
Lessons:
Keeping the Entrepreneurial Spirit Alive
Among other aspects, I would like to attribute our success to my entrepreneurial spirit. You need that drive to keep you motivated.
When the Sharks didn’t make a deal, it opened our eyes. We kept learning and gaining more experience and skills in running a business along the way. It was our determination to do better and be better, something that stems from our strong entrepreneurial drive and problem-solving skills that made Cashmere Hair what it is today.
Having a customer-centric approach
Having a customer-centric approach, especially in your marketing strategies and product development, is a crucial step in building and maintaining growth. We always value authentic connections with our clients and the community, from influencers to customers who shared how our hair extensions have helped them in their lives. Celebrities and influencers helped us build momentum and raise awareness. Genuine customer reviews and user-generated content, focusing on the before-and-after effects of our hair extensions, also enabled us to achieve social proof through visible transformations. Altogether, they continue to drive trust and engagement.
Finding the right people as your support
You need to have the right people—the right team and the right business partner—behind you at all times. Running a small business is not easy—so much more so when you want to grow it further. You need to have business partners that align with your goals and drive for success. And in our case, Melissa and I have always been a great tandem as our skills and strengths complement each other. As a team, you must create balance, which is vital during decision-making processes, solving problems, and navigating growth.
Innovate, innovate, innovate.
You have to keep your brand steps ahead of the competition, and one correct way of doing it is to keep innovating. When we started our business, we didn’t have a new product at hand, but what we had was innovative. We introduced different designs, styles, and shades of hair extensions. Even today, we continue to innovate with hair extensions and other accessories, ultimately supporting our vision to grow the brand further. Also, innovation shouldn’t be limited to your products, and new ones should be created to stimulate growth. You must also apply it in other areas of your business, like how our brand leverages social media platforms to foster collaborations.
Consistency always
Consistency always wins. It is true that big successes and milestones mean a lot, but if you want to truly see your brand take off and soar, you have to be consistent in every little thing you do to meet your goals and mission. It is the small, slow, and steady steps, such as showing up every day, taking care of your own team and your clients, and staying true to your commitment, that pushes you to lasting success.
Rachel Koren is the CEO and co-founder of Cashmere Hair, the leading brand in hair extensions known for its premium clip-in extensions. Established in 2013 in California, the brand gained further popularity after appearing on ABC’s hit reality series Shark Tank just five months after launching.
Through Rachel’s love for beautiful hair and her unwavering entrepreneurial spirit, she aims to empower women to enhance their natural beauty and boost confidence with easy, accessible products.