My Business checks in with Lauren Chang Sommer, who we profiled in April 2010, to see how her business is growing and changing six years on.
“In the beginning, it was tough…but we just continued our plight of selling it for what it is.”
These are the words of Lauren Chang Sommer, founder of Moi Moi Fine Jewellery which, for its first 12 years, was the exclusive Australian distributor of manufactured gem moissanite.
Now, with a major shift underway in the industry, Lauren and her business partner – sister Alana – are establishing their own manufacturing business to further enhance their reach and take ownership of the entire product chain.
As well as outlining what moissanite is and how it is created, Lauren discusses:
• Establishing a business around an unknown product
• Her approach to running a business while looking after young children
• Controlling the entire product vertical, from manufacture to education to retail
• Gearing up to pounce on a major industry shift
And more!Listen to other instalments of the My Business Podcast:
Episode 43: Natasha Chadwick, Synovum Care Group
Episode 42: Steve Hughes, Mood Media Australia
Episode 41: Finding a partnership between digital and physical
Episode 40: SumoSalad CEO shares the secret to corporate social responsibility
Episode 39: Evolving innovation to suit your business needs
Episode 38: Lessons from a serial entrepreneur
Episode 37: Juggling product ideas with commercial realities
Episode 36: How exporting is driving growth for ambitious SMEs
Episode 35: Trumped or pumped? SME sentiments revealed
Episode 34: Anytime Fitness Australia founder talks expansion and competitive markets