Boutique Spotlight: Owen | According to Yanni D

This first edition of the “Spotlight Series” is a snapshot of an interview I had with, Phillip Salem, founder and CEO of OWEN boutique.

OWEN is an innovative boutique that opened in May 2012 in the Meat Packing District of New York City. The boutique showcases emerging designers and selective established designers in one fashionable place.

I chose to start this series with Phillip because we met years ago during our interning days and have known each ever since. I am truly impressed and so proud of him and his accomplishments thus far. He is so personable, insightful and offered great advice for fellow fashion entrepreneurs trying to break into the business. We had such a great interview that I am really excited to share some of what he had to say.

SNAPSHOT

After graduating from the Fashion Institute of Technology, Phillip returned to his hometown of Akron, Ohio. Upon his return he had a talk with his dad who asked him what he really wanted to do with his life. He took a moment and pondered the enormity of that question and told his dad that he wanted to own his own boutique. He has always had a love for fashion and his previous experiences illustrated that.

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Phillip was motivated to start his business because he wanted to create something that showcased different designers. As he eloquently stated in our interview, “there is an understated uniqueness with the pieces in OWEN. We focus on pieces that project confidence and individuality with a subtle flair for the dramatic.” He wanted to bring this particular aesthetic to the community in the Meat Packing District. OWEN, by chance, has two meanings behind them. First, it is Phillips’ middle name and when he was deciding on a name for his boutique he wanted something that meant a lot to him and defined who he was. He also wanted a name that was unisex, chic, clean and easy to say. After writing the name down he realized that within the name spelled “men” and “women” if you added an “m” to the name, further justifying why this was the ideal name for his business.

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When asked what he liked the most and least about running his own business, Phillip stated, “being his own boss”. That statement has pros and cons because as his own boss he has the final say. The boutique is his pride and joy and he reaps all the benefits that come with it. However, being the boss comes with a lot of pressure. Not only does he wear several hats, which include owner, buyer and even the cleaning crew, but also there is no one to answer to if things go wrong except himself. Being an entrepreneur comes with that realization and he really stressed how important it is to know and understand that as an entrepreneur.

The customer experience he created in his boutique is what he enjoys most about his business. During our interview he stated, “everyone should be treated like Beyoncé when they walk through the door.” That tagline is also printed in his employee handbook because he believes in making people feel good. Clothes do not make a person, their confidence and how they feel about themselves makes them shine.

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Similar to the pros and cons of being the boss is the unknown. The unknown to Phillip is the biggest surprise he has faced being an entrepreneur. He thought he knew it all coming into the business, but once he got his business off the ground he was faced with the reality that he did not know a lot of things and had to learn them along the way. He is also faced with the unknown when he sees his name in the press. He is still adjusting to the attention on him and his business. When asked what was some of his failures he mentioned overbuying, not editing and second-guessing himself. As an entrepreneur decisions have to be made everyday and in the beginning he took too much time second-guessing instead of going with his gut. Over time he has learned to be confident in his decisions and to be decisive.

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I was down to the last question on my list, “what advice would you give to entrepreneurs trying to start their own business?” Phillip pondered my question before replying, “patience because starting a business is hard work. You need time and patience.” In order for a start-up business to grow to its full potential patience has to be put into effect. Regardless of how long it may take as entrepreneurs we have to believe that timing is everything. All things take time especially when you want it bad enough. With that being said, I’m inclined to agree with Phillip Salem’s word of advice that patience is a virtue.

Special thanks to Phillip Salem for a great interview!