This week we chat to Gabrielle Requena, who founded Wrinkes Schminkles in 2014 when she saw a gap in the market for a non-invasive solution to chest wrinkles. An encounter with Channel 10’s “sharks” in 2018 led to a tweak that has helped Gabrielle get the brand onto TV shopping networks in North America, the UK and Russia – alongside a regular spot on Australia’s TVSN.
ISB: What was the inspiration behind you founding Wrinkles Schminkles?
GR: It was really a three-way collision between there being a real problem/solution opportunity based on our original line of silicone patches – i.e. preventing wrinkles forming from sleeping, the discovery of a gap in the marketplace – i.e. nothing currently on the market able to do so, and a personal creative urge I wanted to fill that my consulting business at the time wasn’t enabling. I ultimately felt confident everything aligned to create a successful business – my skill set to be hands on in the start-up, my own funding, my connections to great freelancers and agencies, and the fact that I had found a solution to a real problem and I was the target audience.
ISB: What was the biggest challenge you faced in getting the enterprise off the ground?
GR: A lack of contacts in the industry we were joining. Although my lack of knowledge of retail requirements and processes was offset by my career background in management consulting – and, therefore, problem solving – having contacts you can pick up the phone to and call in a favour or pick their brain is invaluable. Celebrities can more easily get small businesses off the ground as people want to work with them due to their profile. We have grown the hard way, but the products in our range have spoken for themselves and our relationships and connections in the industry have grown from there.
ISB: You pitched the concept on Shark Tank and were knocked back for investment – how did this ultimately benefit the business?
GR: Incredibly so! Negative feedback in your own business is brutal and your initial reaction is often defence, rumination and denial…lol! The biggest gift of our appearance on Shark Tank was the recognition that one key metric in the business – repeat purchase – could, and should, be stronger. So, we set about changing that, put a plan in action and move the metric from 19 per cent in that year to 33 per cent the year after and 66 per cent this year.
ISB: How do you balance being able to manage the business efficiently with a rapid rate of growth that some would find discombobulating?
GR: Rapid growth can sometimes take shine off moments you’d like to be celebrating but instead are panicking about! It’s especially difficult when you have a business that resolves around a physical product and inventory management across three warehouses globally. The key is focus and organisation and for me, personally, using my mornings when my mind is fresh to tackle any challenging growth-management tasks. I also strongly recommend using consultants and experts in areas in which you may be in over your head. Paying for someone’s time who is an expert in that area can save you a lot of stress and gain you invaluable knowledge.
ISB: How do you see Wrinkles Sscminkles developing in the next couple of years?
GR: We currently sell to over 40 countries, but our key focus has been to attain deeper growth in three key markets – Australia, USA and UK. We plan to penetrate further with distribution deals and to see our breadth and type of TV Shopping and segment deals role out into more markets. We are also launching new lines – we understand our customers well so we plan to fill a larger portion of their beauty and skincare cabinets with our products!
ISB: And, finally, what is the number one lesson piece of advice you’d share with others looking to launch their own business with a global reach?
GR: Decide on one entry channel into a country and build your strategy around that entry point. Find yourself a consultant/expert/partner/contact in that channel…LinkedIn is an amazing tool for this. And don’t be afraid to give revenue away – be that in reasonable and well negotiated consulting fees, commissions, retainers or possibly equity (for a proven partner only). As they say, 100 per cent of nothing is nothing! Also, be prepared to work in their time zone – most countries expect you to work their hours, particularly the US who have a large population to do business with and who don’t necessarily “need” us. Even today, many USA workers cannot even dial an International number on their work phones! And, lastly, be prepared…to be unprepared!
