Wholesale Business Ideas from Adrienne Wiley — Covet
Notes from our wholesale workshop with Adrienne Wiley owner and buyer at Covet SF
Adrienne Wiley grew her brand from zero to 800 stores in a few years. Now she owns three shops, runs three businesses and wrote a book on wholesale “Adventures in Wholesale”.
How would she do it today?
Here are some highlights from our conversation:
- Go old school
Years ago people would solicit over the phone. Today that doesn’t happen. Nobody is calling. Everyone is online. Everyone is soliciting on Instagram. Or email. It means the phone is quiet. So while everyone else is emailing, call people. Then email. You will get a better response. Also the store associate is the best ticket to the buyer. They are the trusted ones.
2. Anticipate More
Instead of waiting for orders. anticipate when retailers will run low on orders. Then contact them. you can anticipate based on when they usually run out based on past reorders. Also use the trade show calendar as a guide to when they are ready to buy.
3. Adjust your show strategy
Adrienne did 17 trade shows a year when they were good. But today, she doesn’t think expensive shows like NY NOW are the best investment. Buyers do a lot of show rooming at shows because now they also have the option to buy online. When you do a show, the returns will trickle in over a few months. So don’t expect to make up the booth fee.
4. Pitch outside your customer base
If you make sterling silver jewelry, don’t just pitch to jewelry lovers. That’s limiting. Adrienne loves travel. Her jewelry is inspired by travel. She pitches to travelers. it automatically expands her market.
5. Lean in to scarcity
When sales are slow and budgets shrink, use it as an opportunity to outhink your old comfortable self. During the 2010 recession, Adrienne cut down on buying other products and increased production on her own brand for her store. She started a “jewelry bar” at Covet where makers could put together their own jewelry displaying the pieces in cheap soy sauce dispensers.
Interested in the deets:
Vinit is co-founder a SKUE, a maker collective focused on wholesale. Follow the blog for insider tips.
