#163: Investing Your Life’s Savings in Your Career Reinvention (Janet Gurwitch)

Mississippi native Janet Gurwitch was destined to join the fashion industry. Her father owned a chain of shoe stores and she herself graduated college with a degree in retail. After spending 14 years with Houston department store Foley’s, Gurwitch went on to become the Executive Vice President for Neiman Marcus. While there, she met make-up artist Bobbi Brown, then just beginning to launch her make-up line. Although she never intended to become an entrepreneur, Gurwitch was inspired by Brown to start her own business. At the age of 42, Gurwitch left Neiman Marcus and sought a makeup artist with whom she could build a beauty brand. After networking with beauty editors at Vogue and other magazines, she made her choice, invested her life’s savings, and created Laura Mercier. But after 13 years, when Nemain Marcus was sold to a private equity company, their 51% investment in Laura Mercier went with it. Gurwitch was forced to sell and she once again faced a career reinvention. Listen in to her conversation with CoveyClub founder, Lesley Jane Seymour, to learn how Gurwitch joined the private sector and bought five beauty brands in the course of ten years.

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Bio:

Janet Gurwitch is an operating partner with Advent International, where she serves on the board of Olaplex, Inc. Gurwitch is the founder and former CEO of Laura Mercier Cosmetics & Skincare, a global brand of high-end niche cosmetics.  Prior to founding Laura Mercier, Janet Gurwitch was the Executive Vice President of Neiman Marcus, where she developed strategy and managed 80% of Neiman Marcus’ $2 billion sales volume across 35 doors. 

 

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Time Stamps

4:40 – Growing up in Mississippi and fashion

5:38 – What being an entrepreneur means and makeup brands

7:33 – Giving up everything to start a business 

14:16 – The secret to a good elevator pitch

19:00 – The importance of headhunters in private equity 

23:13 – Knowing the industry vs educational background 

29:50 – How you can work past doubt

30:53 – How to use networking to your advantage

 

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