Molly Kang, MBA ’15: How COVID Killed a Wedding-Dress Business That Was Just Beginning to Boom | Summary and Q&A

TL;DR

Floravera aims to make luxury bridal gowns accessible by providing a unique shopping experience with affordable prices.

Key Insights

• 👯 Floravera offers luxury bridal gowns at affordable prices, aiming to make the bridal experience accessible to more people.
• 😚 The COVID-19 pandemic had a significant impact on the wedding industry, forcing businesses like Floravera to close their showrooms.
• 🖐️ The founder's mentors and investors played a crucial role in supporting her through the challenging times and encouraging her to continue as an entrepreneur.

Transcript

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Questions & Answers

Q: How does Floravera aim to revolutionize the bridal industry?

Floravera aims to make luxury bridal gowns accessible to more people by offering affordable prices and a unique, intimate shopping experience.

Q: How did the COVID-19 pandemic impact Floravera's business?

The pandemic forced Floravera to close all of its showrooms, leading to uncertainty in the wedding industry and a need to adapt to the changing circumstances.

Q: What has been the support from investors and mentors during this challenging time?

Despite the challenges, the founder's investors and mentors have been supportive and have encouraged her to continue her entrepreneurial journey.

Q: What inspired the founder to continue pursuing entrepreneurship despite the setbacks?

The founder's determination to start a new brand and product, even in the face of adversity, led her to believe that she is meant to be an entrepreneur.

Summary & Key Takeaways

• Floravera is revolutionizing the bridal industry by offering luxury bridal gowns at affordable price points and a personalized shopping experience.

• The company had to close all 13 of its showrooms due to the COVID-19 pandemic, causing uncertainty in the wedding industry.

• Despite the challenges faced, the founder's mentors and investors have been supportive, leading her to continue pursuing entrepreneurship.