Why former Wall Streeters find new careers as fashion founders
For financial analysts slogging away for long hours, an escape plan becomes enticing; entrepreneurship looks like a seductive dive into uncertainty after endless scrolls of spreadsheets.
Often, these unfulfilled financiers find their ways to careers in fashion.
“If you spend a lot of time in finance, you eventually want something radically different,” said Diana Melencio, co-founder of the personal shopping service Quinn, who had worked for nine years on Wall Street at a handful of investment banking firms before starting her company. “My days had consisted of 12 to 18 hours of spreadsheets, and I wanted something … not like that. It comes from a desire to innovate, to be a part of the fashion industry, which couldn’t be more different than this sterile environment.”
Wall Street, from heavyweights like Goldman Sachs and JPMorgan down to boutique firms, is a vessel for fashion startups. These former analysts-turned-founders can build financial models for new companies in their sleep and talk the same language as potential VC investors. And, after years of analytics and data sheets, left-brained people in the field are looking for creative outlets. The frustration and lack of stimulation, combined with a close proximity to the industry, leads to idea light bulbs.
More in Marketing
Why the New York Times is forging connections with gamers as it diversifies its audience
The New York Times is not becoming a gaming company. But as it continues to diversify its editorial offerings for the digital era, the Times has embraced puzzle gamers as one of its core captive audiences, and it is taking ample advantage of its advantageous positioning in the space in 2024.
Why B2B marketers are advertising more like consumer brands to break through a crowded marketplace
Today’s marketing landscape is more fragmented than ever. Like consumer brands, business brands are looking to stand out in a crowded and competitive marketplace, making marketing tactics like streaming ads, influencers and humorous spots more appealing.
As draft puts WNBA in spotlight, the NBA is speeding up ballplayers’ transition to creators
The NBA’s star athletes are its greatest marketing asset.