TOP GIRL of the month goes to Susan Gregg-Koger
As you know the City Girl Business Club encourages everyone interested in starting a business to look for inspiration on a regular basis. This is important for many reasons, but mainly because it helps to keep you motivated so that you can accomplish your goals.
One of our favorite websites entrepreneur.com just recently posted an article on young millionaires, we found the article to be very interesting and inspiring to say the least. One story that stood out to us was that of ModCloth.com‘s founder Susan Gregg-Kroger, so we decided to nominate her as the City Girl Business Club’s Top Girl of the month.
At 17 years old, Susan Gregg decided to open an online boutique that sold one of a kind vintage clothing and shoes. Her company ModCloth was launched from her dorm room with the help of her boyfriend, Eric Koger. The two drove from Pittsburgh to their South Florida hometown several times throughout college to pick up more stock. By the end of their senior year in 2006, ModCloth was getting 60,000 visitors a month, and plenty of them were asking for more.
Susan wanted to grow the business, so she decided she needed to raise enough capital to build her vision. She secured the money she needed by using her credit card, borrowing from family, taking out student loans, and taking out a second mortgage. Then she hired designers to create an original, vintage-inspired collection.
Susan and her then boyfriend Eric are now married and run ModCloth from their Pittsburgh, PA offices. ModCloth gets around 2 million visitors every month and is on track to surpass $50 million in sales this year. They’ve raised $20 million in new funding to open up offices in San Francisco and Los Angeles this summer, and employee numbers are close to 150, and rising.
To get the full story and to check out one of our favorite websites, visit www.entrepreneur.com.
You can also find out more about Susan at www.ModCloth.com
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