Do you wash your fine linens in special detergent?...“Start Part-time”
Lindsey Wieber and Gwen Whiting, founders of The Laundress, discuss the key moves they made to turn their dreams into a reality.
THE LAUNDRESS - “Open for Business” just over a year
the importance of properly cared for clothing and home linens, Lindsey
Wieber and Gwen Whiting designed and developed THE LAUNDRESS product
collection to create a luxurious experience for a necessary domestic
Where did you get the idea for The Laundress?
Born out of necessity and practicality; personal needs initiated international research.
and Lindsey shopped internationally for the “best of the best”:
cashmere wash from Paris, fragrant detergent from Mexico, and deodorant
from Uruguay. When an international product that they were using became
discontinued they decided to take matters into their own hands.
Tell us about your extensive research – did you feel like you were ready to be in the market when your product was introduced?
started part-time, conducting market research while working for Chanel
and Ralph Lauren; they discovered a gap in the market. Three years of
international product research unveiled the mystery of product
development and manufacturing.
401K as collateral for SBA Loan
While attending Cornell University, The Laundress took this advice from Prof. Breen to get a SBA Loan
Describe the $100,000 SBA loan you got and how you landed it.
attending Cornell University, young entrepreneurs, Gwen Whiting and
Lindsey Wieber, listened to Professor Breen, “Use your 401K as
collateral for a SBA loan”. They were granted a $100,000 loan, which
financed THE LAUNDRESS startup.