A group of emerging female founders are positioned to grow their wealth substantially in the next decade.
A new wave of self-made women are set to vie for positions among the richest women in the country in the next decade, amassing wealth in the tens of millions of dollars driven by their success in founding businesses in retail and technology.
From left: Goldee’s Verity Tuck, ModiBodi’s Kristy Chong, Rich Data Corp’s Ada Guan, MCoBeauty’s Shelley Sullivan and Vida Glow’s Anna Lahey. “I don’t know why I thought it was a good time three months after having a baby, and I had sciatica too … I was in survival mode.”a whopping 24 times earnings before interest, tax, depreciation and amortisation multiple.“I say this proudly, I’m consciously biased to investing in women. They need to own at least 50 per cent of the business and I like them to be in the CEO role as well,” she says. “I feel that I can help them, and also pick ones that can have an impact.
On track to achieve revenue growth of 292 per cent this year, MCoBeauty has been unaffected by the high cost of living. It is known for creating dupes of high-end products made by Charlotte Tilbury, Dior and NARS. “In late 2012, early 2013, there was no ingestible beauty category in the West. Kieran and I have created a category, not just a brand,” she says. “A lot of what we’re innovating still, 10 years later, we’re doing for the first time.”
“The juggle is impossible. I feel like I’m crawling around picking up balls half the time … like I’m doing a mediocre job at home and a mediocre job at work,” she says. The investor also said very few consumer businesses were able to attract investment, despite high-profile exits like Aesop and Zimmermann.