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How These Co-Founders Exited to Conglomerate, Unilever, Without Any VC Funding

Business

When their frustration with current fabric care options had fashionistas Gwen Whiting and Lindsey Boyd worn out, the two entrepreneurs made it their mission to start a new niche and launch their very own at-home, eco-friendly laundry detergent line.


With a mission of turning an everyday domestic chore into a luxurious experience, these entrepreneurs not only conjured up an idea for an unconventional product line, but they successfully built their business while turning down the offer of every venture capitalist to knock on their door.

Gwen Whiting and Lindsey Boyd co-founded The Laundress in 2004 after dealing with their own personal frustrations with limited clothing care options. Whiting, having worked at Ralph Lauren in design and Boyd having worked at Chanel in corporate sales, soon accumulated a stylish wardrobe of designer pieces as perks of their jobs in the fashion industry. However, the duo quickly realized that the maintenance required for upkeeping these items were far from adequate. Laundry products on the market at the time did not cater to delicate textures and fabrics such as tweed blazers, cable-knit cashmere and silk blouses. Taking their clothing to the dry cleaners also proved hopeless as their clothing would often come back with stains or even be ruined despite the overload of chemicals used to clean them. With nowhere left to turn, Whiting and Boyd were determined to create their own laundry solutions designed for specific fabrics.

Not only did the entrepreneurs develop the business expertise needed to finally begin their own company, but they also shared the same educational background that equipped them to pursue their unconventional business venture. Whiting and Boyd met in college as students at Cornell University majoring in Fiber Science, Textile, and Apparel Management and Design. The pair was introduced by a mutual friend and instantly knew they would become business partners. "It was inevitable that we were going to have a business together. We are both extremely entrepreneurial by nature, and it was one of the connections that we instantly shared" said Whiting. After focusing on pursuing their own individual careers for a while, Whiting and Boyd quickly discovered a void in the fabric care marketplace when their clients would continuously inquire about the upkeep of their designer pieces.

The entrepreneurial duo was committed to researching and developing their own eco-friendly laundry products and soon launched their own at-home solutions for specific fabrics like silk, wool and denim, which ultimately eliminated the need for dry cleaning for those particular items. Despite their products filling a necessary void in the market, it quickly became challenging for the founders to persuade people to shift their focus away from traditional laundry care options in order to try their products. However, Whiting and Boyd believed in their mission for the Laundress and bootstrapped from the very beginning, refusing all venture capital funding with the goal of growing organically. In order to be successful, they had to get creative in fundraising. "In the very early days, we funded business development by hosting a 'for profit' party at a New York City restaurant and inviting friends, family, co-workers, etc. to support our new venture. That was pre-Kickstarter and an inventive way to make everyone feel a big part of our decision to be entrepreneurs," said Whiting.

While turning down VC funding as new entrepreneurs seems unimaginable, it is as equally unfathomable to consider how these women gained national traction without social media, all the while hustling to fund their business. For Whiting and Boyd, who started their business before social media existed, it was imperative that they promote their brand by leveraging the resources they had available to them. The CEO's were one of the first to sell consumer goods, let alone detergent, online with the goal of reaching a national audience. Despite having limited retail distribution, they leveraged the power of their website and became featured in publications on both a national and international scale. "Before social media platforms existed, we nurtured our own Laundress community with engaging content on our website, step-by-step tutorials on our blog, and one-on-one communication through our Ask The Laundress email," Whiting explained. With technology evolving and the birth of social media platforms, the founders expanded the conversation about their products from website, blog and email to platforms like Facebook and Instagram.

As female entrepreneurs, Whiting and Boyd faced additional hardships as misconceptions about their mission ultimately proved to disappoint more than it encouraged them. As women selling luxury detergent, there existed a preconceived notion that funding would be more easily attainable based upon their gender.

"Everyone thought it was easy to access capital as female entrepreneurs, but it was actually very challenging. We had this unique and disruptive idea within a very traditional space and it was hard to get people on board at first. It's been a continuous journey to educate people in fabric care and home cleaning," said Boyd.

Reflecting on their journey as entrepreneurs, the founders express no regrets about refusing to accept venture capital throughout the process. "Over the years, we could never quantify the cost benefit of VC funding so we continued to grow organically and remain independent by funding ourselves with credit cards and loans," explained Boyd. While their decision proved fruitful, the duo expressed their consideration towards other entrepreneurs who may not be able to fully fund their business as they grow. Because funding is a situational experience, entrepreneurs must ultimately do what is best for their business as no one path is optimal for every entrepreneur or every business.

With an increasing amount of women entering entrepreneurship with their own unique set of products or services, the CEO's offer up one piece of advice on how female entrepreneurs can be successful in their endeavors.

Whiting: "Our advice to anyone looking to build their brands: Have a strong business plan and vision. If you are not disciplined to write a business plan first then you are not disciplined to start a business. Get your ideas down so you ask yourself the right questions; it helps you get organized and plan next steps."

Boyd: "Create quality products without sacrificing the ingredients—no cutting corners. What you create should be the most important piece. Stay passionate, and trust your instincts and follow your gut—something woman are awesome at!"

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Lifestyle

Unconventional Parenting: Why We Let Our Children Curse

"Sh*t!" my daughter exclaimed as she dropped her iPad to the floor. A little bit of context; my daughter Victoria absolutely loves her iPad. And as I watched her bemoan the possible destruction of her favorite device, I thought to myself, "If I were in her position, I'd probably say the exact same thing."


In the Rastegar family, a word is only a bad word if used improperly. This is a concept that has almost become a family motto. Because in our household, we do things a little differently. To put it frankly, our practices are a little unconventional. Completely safe, one hundred percent responsible- but sure, a little unconventional.

And that's because my husband Ari and I have always felt akin in one major life philosophy; we want to live our lives our way. We have dedicated ourselves to a lifetime of questioning the world around us. And it's that philosophy that has led us to some unbelievable discoveries, especially when it comes to parenting.

Ari was an English major. And if there's one thing that can be said about English majors, it's that they can be big-time sticklers for the rules. But Ari also thinks outside of the box. And here's where these two characteristics meet. Ari was always allowed to curse as a child, but only if the word fit an appropriate and relevant context. This idea came from Ari's father (his mother would have never taken to this concept), and I think this strange practice really molded him into the person he is today.

But it wasn't long after we met that I discovered this fun piece of Ari Rastegar history, and I got to drop a pretty awesome truth bomb on Ari. My parents let me do the same exact thing…

Not only was I allowed to curse as a child, but I was also given a fair amount of freedom to do as I wanted. And the results of this may surprise you. You see, despite the lack of heavy regulating and disciplining from my parents, I was the model child. Straight A's, always came home for curfew, really never got into any significant trouble- that was me. Not trying to toot my own horn here, but it's important for the argument. And don't get the wrong impression, it's not like I walked around cursing like a sailor.

Perhaps I was allowed to curse whenever I wanted, but that didn't mean I did.

And this is where we get to the amazing power of this parenting philosophy. In my experience, by allowing my own children to curse, I have found that their ability to self-regulate has developed in an outstanding fashion. Over the past few years, Victoria and Kingston have built an unbelievable amount of discipline. And that's because our decision to allow them to curse does not come without significant ground rules. Cursing must occur under a precise and suitable context, it must be done around appropriate company, and the privilege cannot be overused. By following these guidelines, Victoria and Kingston are cultivating an understanding of moderation, and at a very early age are building a social awareness about when and where certain types of language are appropriate. And ultimately, Victoria and Kingston are displaying the same phenomenon present during my childhood. Their actual instances of cursing are extremely low.

And beneath this parenting strategy is a deeper philosophy. Ari and I first and foremost look at parenting as educators. It is not our job to dictate who our children will be, how they shall behave, and what their future should look like.

We are not dictators; we are not imposing our will on them. They are autonomous beings. Their future is in their hands, and theirs alone.

Rather, we view it as our mission to show our children what the many possibilities of the world are and prepare them for the litany of experiences and challenges they will face as they develop into adulthood. Now, when Victoria and Kingston come across any roadblocks, they have not only the tools but the confidence to handle these tensions with pride, independence, and knowledge.

And we have found that cursing is an amazing place to begin this relationship as educators. By allowing our children to curse, and gently guiding them towards the appropriate use of this privilege, we are setting a groundwork of communication that will eventually pay dividends as our children grow curious of less benign temptations; sex, drugs, alcohol. There is no fear, no need to slink behind our backs, but rather an open door where any and all communication is rewarded with gentle attention and helpful wisdom.

The home is a sacred place, and honesty and communication must be its foundation. Children often lack an ability to communicate their exact feelings. Whether out of discomfort, fear, or the emotional messiness of adolescence, children can often be less than transparent. Building a place of refuge where our children feel safe enough to disclose their innermost feelings and troubles is, therefore, an utmost priority in shepherding their future. Ari and I have come across instances where our children may have been less than truthful with a teacher, or authority figure simply because they did not feel comfortable disclosing what was really going on. But with us, they know that honesty is not only appreciated but rewarded and incentivized. This allows us to protect them at every turn, guard them against destructive situations, and help guide and problem solve, fully equipped with the facts of their situation.

And as crazy as it all sounds- I really believe in my heart that the catalogue of positive outcomes described above truly does stem from our decision to allow Victoria and Kingston to curse freely.

I know this won't sit well with every parent out there. And like so many things in life, I don't advocate this approach for all situations. In our context, this decision has more than paid itself off. In another, it may exacerbate pre-existing challenges and prove to be only a detriment to your own family's goals.

As the leader of your household, this is something that you and you alone must decide upon with intentionality and wisdom.

Ultimately, Ari and I want to be the kind of people our children genuinely want to be around. Were we not their parents, I would hope that Victoria and Kingston would organically find us interesting, warm, kind, funny, all the things we aspire to be for them each and every day.

We've let our children fly free, and fly they have. They are amazing people. One day, when they leave the confines of our home, they will become amazing adults. And hopefully, some of the little life lessons and eccentric parenting practices we imparted upon them will serve as a support for their future happiness and success.