Moses Rashid, founder and CEO of The Edit LDN , is a man in a hurry. Three years after he launched his high-end sneaker marketplace, Rashid is today announcing that the company has closed a $4.8 million seed funding round. He expects that to drive further rapid growth – he is targeting a $150 million valuation by 2026, and $1 billion within three years of that. “We have been laser focused on providing a premium service and doing this super fast for anyone buying limited edition sneakers globally,” Rashid says of the company’s progress. That has seen the company’s revenues grow at a rate of more than 500% a year – to around $12 million in 2022. The Edit LDN specialises in sourcing and selling premium fashion products – limited-edition sneakers and other streetwear from designer labels such as Yeezy, Jordan, Louis Vuitton and Dior. Some customers buy the goods because they want to wear them; the company’s client base includes a string of celebrities, as well as other affluent buyers, who are keen to be fashion leaders and trend setters. Others buy as an investment; the resale price of in-demand sneakers can increase very significantly, netting a tidy […]

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The UK has become the third-most important country in the world for chief executives trying to expand their businesses, according to a prominent survey, the first time it has broken into the top three. The 26th annual poll of business leaders conducted by PricewaterhouseCoopers LLP found that the UK was behind only the US and China, and equal with Germany, having never previously ranked higher than fourth. It cited the UK’s strengths in technological sectors and underlying business-friendly conditions. This was despite the survey — published Monday to mark the start of the World Economic Forum in Davos — being conducted in October and November, shortly after the pound and UK gilts had been hammered by investors following a botched budget from Kwasi Kwarteng, chancellor of the Exchequer at the time. PWC said 18% of chief executives said the UK was important to revenue growth, double the 9% proportion who said the same in 2020. “CEOs don’t expand and invest on a whim — they’re choosing the UK as that’s where they expect to see returns,” said Kevin Ellis, PWC’s chairman and senior partner in the UK. “That choice will be based on sector strengths in areas like AI […]

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Chastity Moore Over Earth Media LLC, Bryson MuDrow Chastity Moore is a business owner who wanted more collaborative spaces. After months of searching, she created the perfect collaborative space herself. Chastity opened The Business Owner’s Emporium (TBOE), Georgia’s first and only corporate solutions center. TBOE is a one-stop shop for entrepreneurs, with over 7,000 square feet of beautifully designed and furnished office that allows entrepreneurs to gather and co-work and includes amenities such as podcast recording spaces, conference rooms, and café space. This innovative solution allowed Chastity to build a successful business and become an inspiration to other entrepreneurs. Chastity began designing her workspace from scratch, focusing on creating a warm and welcoming environment without being too crowded or chaotic. She incorporated comfy chairs, cozy couches, natural light, and open space for people to collaborate in small groups or larger teams. The result is a high-end office space where other entrepreneurs could use state-of-the-art technology and be comfortable yet productive in a workspace that provides everything needed for collaboration and networking opportunities. Once she had created her perfect workspace, Chastity began building her business around it. She structured services that her company offers, such as business building services and […]

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MarketWatch Some predictions and advice for small business owners This article is reprinted by permission from NerdWallet. Since the onset of the COVID-19 pandemic, small-business owners have faced ever-changing regulations, cash flow shortages and general economic uncertainty. And 2022 brought its own challenges: inflation, rising interest rates and staffing shortages, among others. Entrepreneurs, however, remain resilient and optimistic about the year ahead. In fact, 66% of small-business owners expect their revenue to increase over the next 12 months and 52% plan to expand their operations, according to an annual report by Bank of America in late 2022. So, what will 2023 bring for business owners? NerdWallet’s small-business writers offer their predictions and advice as we begin the new year. 1. Banks go all-in on customer experience Kelsey Sheehy: Expect online banks and neobanks to up their game — offering higher interest rates on checking and savings accounts and more business-friendly features — as they compete for customers in an increasingly crowded space. Business owners should shop around for an account that goes beyond the basic deposit account and find one that adds value to their company. Takeaway Consider whether your bank can be doing more for your business. You […]

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More state lawmakers are introducing bills to keep their state governments from doing business with financial institutions that take environmental, social or corporate governance into consideration when making investment decisions. Critics say these bills are designed to boost fossil fuel companies and will end up costing taxpayers. (Joe Raedle/Getty Images) Republican state policymakers’ efforts to boost fossil fuels by prohibiting their governments from doing business with companies that take sustainability into consideration has the potential to cost states millions, according to a study released Thursday. Researchers looked specifically at the possible effects on Florida, Kentucky, Louisiana, Missouri, Oklahoma and West Virginia if they passed Texas-like legislation limiting investment options on municipal bonds and found it could cost them between $264 million and $708 million in additional interest payments. The study noted that the states had not passed such broad legislation. The six states are among two dozen that last year issued proposed or passed legislation prohibiting state government entities from doing business with financial firms that take environmental, social and corporate governance (ESG) into consideration when making investment decisions as anti-ESG efforts spread from state treasurers and attorneys general to governors and lawmakers. Republican policymakers refer to ESG as […]

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Photo: James Kelly Burberry CEO Jonathan Akeroyd is building out the brand’s C-suite team with two new roles, as he forges ahead with his ambitious growth strategy . Giorgio Belloli — who has spent over a decade in luxury, including in senior positions at Prada, Alexander McQueen and Hussein Chalayan — has been appointed to the new role of chief digital, customer and innovation officer. He will be responsible for leading the global e-commerce, digital product, and analytics teams, as well as a newly-formed innovation function. Most recently, Belloli held the position of chief commercial and sustainability officer at Farfetch. Delphine Sonder, whose career portfolio includes senior roles at Louis Vuitton and Chloé, joins as chief merchandising officer after nearly five years at Saint Laurent, where she was general merchandising director. For Burberry, Delphine will lead merchandising and global planning across ready-to-wear and accessories, as well as product strategy. Both appointments are effective immediately. “Their appointments reinforce our ambitions for this next phase, building on our strong legacy of innovation and strengthening the alignment between our commercial offering and our new creative vision,” a statement from Akeroyd reads. “I look forward to working closely with them both to progress […]

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This article is part of Texas Monthly ’s special fiftieth-anniversary issue. Read about the other icons that have defined Texas since 1973. In Texas, business and innovation move in two directions: people come here to turn their big dreams into real things, and people who are from here export their brilliant ideas to the rest of the world. And no, it’s not just about oil (though, of course, a lot of it is about oil). Technology, construction, cosmetics, jewelry, medical advances—Texas has a hand in pretty much any field you can think of. And that two-way traffic shows no signs of slowing down. The Aspiring World Leader H. Ross Perot The Dallas billionaire tech entrepreneur’s Texarkana accent was the butt of late-night jokes, but the populist frustrations he tapped into during his two presidential campaigns were no laughing matter. Mark Cuban Another Dallas billionaire , minted by the late-nineties dot-com boom, the Mavericks owner and Shark Tank star has flirted with political ambitions and launched a company aimed at lowering prescription drug prices. The Troublemaker T. Boone Pickens The Oklahoman turned Texan shook up Big Oil by launching unsolicited bids to take over large companies and advocating for shareholder […]

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Rich Gunn, Certified Exit Planning Advisor and Partner at accounting and advisory firm BPM , also offers Value-Focused Business Planning. getty What does success mean to you? Success can be a very personal thing and defined in many ways. As a business exit planning advisor, I suggest that business owners consider these two areas when defining success from a business and financial perspective: 1. Make certain your business is ready for sale at all times. This means you have examined your business from a buyer’s perspective, and you have taken the necessary steps to optimize business value. 2. Make sure you are personally prepared to exit your business. This means you know the business’s current value, and you are confident that this value will be sufficient to satisfy your lifestyle. You’ve done the planning and have no doubt that your financial resources will sufficiently last your lifetime. Your ultimate success in this endeavor will require having a strong team of advisors to assist you in areas that are outside your expertise. Many business owners have undervalued businesses because they were apprehensive about spending money on advisors. This is a foolish notion. The right team of advisors can bring greater […]

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To construct a strong, resilient business, trust must be at the center of everything. Corbis via Getty Images Of all the attributes your business could develop, few are more important than building trust . When it comes to customers, 81 percent say that trust in a business is a deciding factor when deciding who to buy from. And trust is equally important with employees and business partners. In fact, research from the Harvard Business Review reveals that workers at “high-trust companies” experience 74 percent less stress, while also being 50 percent more productive. Unfortunately, building trust is sometimes easier said than done — particularly if you operate in an industry not known for trust. We’ve all heard stories about shady used car salesmen, but many other industries, such as tech, also face their fair share of skepticism. All too often, this distrust is deserved. The good news, however, is that regardless of industry, you can take actionable steps to build trust — and few things will pay greater dividends in the long run. 1. For Trust, Focus On Foundational Elements What allows a business to build trust? This can be hard for businesses to pin down because there is […]

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getty A few years ago, writing an article about agriculture in a business outlet would have appeared very out of place. Who would have been interested in a bunch of farmers plowing their fields with tractors? However, with the realities of the climate crisis becoming ever clearer, wars and natural disasters destroying livelihoods across the globe and threatening food security on top of the global finance sector being under pressure to clean up portfolios and promote sustainable futures, agriculture is now a hotbed for investment and innovation. It is also where clever tech and business brains should be heading. Without agricultural transformation, there will be no future. It’s that simple. We all need to eat and drink to survive, but the food system is in urgent need of transformation. To reel off a few stats, on average 70% of global freshwater is used for agriculture , the global food system accounts for nearly a quarter of greenhouse gas emissions and 25% of the world’s land has been degraded, all against a backdrop of the need to adapt to climate change and be prepared to feed 10 billion people. Agriculture is an industry with extremely complex and multifaceted challenges that […]

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