What began as a hobby between two corporate lawyer friends has turned into a multimillion dollar business making personalised leather accessories. In 2011, Sydney-based Alyce Tran and Tania Liu (now based in China) started The Daily Edited as a personal style blog, and in 2014 added a monogrammed accessories line into the mix.
You may have spotted their stylish phone cases, wallets or handbags all over your Instagram feed, with the brand rapidly growing thanks to their savvy online presence. This year they also collaborated on capsule collections with US model Hailey Baldwin and the Australian designers behind New York-based brand Tome. Co-founder Alyce, who is visiting Auckland this week to meet local media, shares more about the brand's success.
How did you arrive at starting a personalised accessories brand?
I was looking for a compendium for work and couldn't find anything that hit the brief, so I spoke to Tania about getting a few things made for us to use ourselves. We decided to make three products but to get the minimum quantity to create the products with our supplier we decided to produce a small run. I posted pictures of the accessories on Instagram and immediately people asked where they could buy them, and off we went.
When did you realise you had a successful product?
When I met customers at our first pop-up store (we're predominantly an online brand) and they were raving about how much they loved the brand and the product, I thought to myself we've done something right.
Why do you think personalisation has struck such a chord at this moment?
People want to feel special and that they are getting something unique, and extra service and personalisation does that.
What products do you get the most requests for?
Our black pouch and black iPhone case are our best-sellers - they're such easy functional items.
You now sell at select David Jones stores in Australia. How has the shift from your online store helped grow the business?
It's added another layer to our business as we have been able to access new customers and service: those customers who don't like to shop online. It's also fun to work out how to merchandise and present our brand in real life - it's very different to an online business.
What do you think sets The Daily Edited apart from other monogramming brands?
Our product is high quality, beautifully made and very functional, which I think sets us apart from other brands in the accessories space.
The Sydney Morning Herald recently estimated that your business will turnover A$15 million ($15.9 million) by the end this year. How do you ensure that you steadily grow the business?
This is a hard one as we can never guarantee growth. We just ensure that we are producing quality product, servicing our customers well and presenting our brand in the best way to ensure we are continually enhancing our business.
What have been your business highlights?
Making a successful foray into brick and mortar retail has been a highlight.
How do you personally celebrate that success?
I don't celebrate my (or the business') success at all - my mindset is that we have a long way to go and I just need to keep working hard at it.
How vital has social media been to growing your business?
We wouldn't have a business if it weren't for social media. It allowed us to broadcast our product without spending a whole lot of money.
Five business tips for starting your own business?
1. Be prepared to work hard.
2. Give anything a go and experiment.
3. Be prepared for failure or rejection.
4. Listen to your customers.
5. Find the right people for your team.
