GENT'S JOURNEY
through the eyes of founder Jenny Rydhström
The year was 2010 and everything was about to come to an abrupt halt. A sophisticated credit card fraud had hit the Helsingborg-based company Gents and drained its assets - founder Jenny Rydhström's private account contained SEK 6,000 and disaster seemed inevitable. But miraculously, and as a result of rapid, heavy rationalisation, everything suddenly turned around and Gents - which until then had been a hobby business - found itself at a crossroads.
THE CROSSROADS
If you wanted to survive, you had to go all out. Focus one hundred per cent. Jenny had to choose - continue her secure job as a tax lawyer or take the plunge and give the company all her time. It was a wake-up call - the small local company was restructured; Jenny bought out her relatives and all the holes were plugged. Growth took off, but it took six months to steer the Atlantic steamer right and turn the sinking ship around.
Today, Gents is one of the world's largest and most well-stocked e-commerce companies for male beauty, still with local roots in Helsingborg and with (so far) two physical stores with associated barbershops at home. From being the first in Sweden to introduce the growing interest in razor shaving, safety razors and beard care, it has now also become one of the largest players in the increasingly difficult-to-digest market for exclusive so-called niche perfumes. And it's growing by leaps and bounds. But the first years around 2002-2003 (Jenny Rydhström herself doesn't remember exactly) were rocky and far from glamorous. Jenny thinks back:
We started this simply because we were passionate about the idea - it was no more thought out than that. My driving force has always been that I have to enjoy the hell out of it - even if it means sacrificing comforts and working dogs for free from morning to night. It was over eleven years before I took a salary - I didn't even have my own car until four years ago. All my personal money was being pumped into the small business - and it was really eating up everything I had. But I had so much fun.”
THE BACKGROUND
The foundation of Gents has always been the well-stocked online store, and when the company was founded - with its first home downstairs in a modest basement - it was with the intention of creating something completely new. Jenny Rydhström realised early on that male grooming was still an unexplored, almost shameful subject, but that there was a pent-up need, a gap in the market just waiting to be conquered. Male problems and male grooming were something that was quietly talked about and needed to be highlighted.
And one of the reasons Gents has been able to constantly evolve and grow is that it has found a niche where it is unique. Reviving the traditional barbershop as part of a regular routine was one such way, making it acceptable for men to treat themselves to cosy treatments and that it's OK to spend time on themselves, their appearance and smelling good. In addition, the range of products for shaving, beard care and exclusive perfumes has grown - and now also includes accessories, lifestyle and skincare.
But it's been a long road, and in the early years, it faced just about every problem a start-up company can face: trade mark disputes, fights with suppliers and unions, and so on. Yes, they even got cheated by China and ended up in a dispute with the Finnish government. But Jenny has never been afraid of challenges, and for her, it's the headwinds that are the best energy boost. With her own background as a Swedish boxing champion and a tax lawyer in New York, she knows all about pushing herself to the limit and daring to grow with the task - just jumping on the bandwagon and having fun. Confidence is also one of the qualities she emphasises when hiring people..
Being driven, running on adrenaline and enjoying the ‘sweetness of victory’, as well as intelligence and sharing core values (especially if I'm going to work with them on a daily basis). I like to see my role in the company as part of my own personal development. ‘Where do you see yourself in ten years?’ is usually the most important question I ask in an interview. We talk far too little about this in Sweden today, ambition. But above all, I've also learnt how important it is not to get the wrong person on the journey - a lesson that has sometimes cost me dearly.”
THE TURNING POINT
The fact that mistakes build the company is something you have to live with, she says. For Gents, the most decisive moment came in 2014 when it invested SEK 1 million in a TV advert at the wrong time of day and which reached the wrong target group. It was hard to imagine a bigger flop and it shook things up considerably. But it was the turning point - and the seed of the expansive Gents we see today
With such a blow, we had to think about how our profile matched the customer's needs and, above all, who the customer was. We needed that and in a way it was our salvation. After that, things really took off and we started to grow properly."
Compromising your profile and losing your grip on your target group is a dangerous spiral many end up in, she believes, to broaden your range to suit everyone. When Gents started, NK in Stockholm was the big role model - now, over the years, they have come to realise what Gents really represents and where the focus lies.
ADVICE & KEY DECISIONS
Finding the uniqueness of your brand and becoming the best in your field is one of Jenny's most important tips for creating a successful e-commerce. Not to be a copycat. And above all, not to get hung up on the small problems but to see the opportunities. Focus on what can and needs to be solved and put your energy on the right things.
One of the smartest business decisions Jenny believes she has made is not to fall for the temptation to expand with a female range. The focus should be on the male, although there are lifestyle products and perfumes that can appeal to both sexes. Another is not to sell parts of the company to people who want to buy in, although on some occasions it has been tempting. Because there has certainly been no shortage of offers. But often at the price of internal strife and loss of control over the company and its direction. For many chefs...
Another piece of advice Jenny likes to give to aspiring chefs is to learn from a mentor - preferably someone older with experience who you look up to - preferably not a relative or good friend, but an outsider with industry experience who can look at your business and your goals with fresh eyes. No one has ever made it to the Olympics without a coach to hone their stride is Jenny's motto, and for her, this has been an invaluable experience and one of the reasons she is there today. And it's important that you pay your mentor to spend time helping you. If the mentor is not worth paying at least 3 x the hourly rate of a local carpenter, it is probably the wrong mentor.
As a person, I need to do new things to move forward in my development. For me, it's about business acquisitions (which I find extremely stimulating), strategic issues and new business ideas. This autumn I'm launching my own perfume line and breaking ground on a national chain of hairdressing salons under a new brand. I am very much looking forward to the new challenges that this entails.
The train is travelling out into the world and building the rails as it goes. That's the way it is.