• Fri, May 10 2013

$1,500 And A Dream: The Banana Republic Story

banana-republic1-190x130It’s the quintessential American concept: Start a business from a simple idea, and then watch it explode into a multimillion-dollar corporation.

Of course, most people who decide to become entrepreneurs have a plan. A little money, perhaps. And maybe some contacts.

Mel and Patricia Ziegler, the couple behind the clothing empire Banana Republic, had none of these things. But, in 1978, they did have a vision. “We were both doused with romantic fantasies of Hemingway and adventure,” says Patricia. “We wanted to figure out how to travel and see the world.”

The Zieglers knew it wouldn’t be possible to travel the globe with the paltry salaries that they made working for the San Francisco Chronicle, so they decided to start a business. They just had no idea what it would be.

When Mel came back from assignment in Australia wearing a safari jacket that he’d bought for $5, it dawned on them—with no fashion or business experience between them, mind you—they’d start a clothing store.

The couple’s journey to success is documented in their new book, “Wild Company: The Untold Story of Banana Republic.” LearnVest sat down with Patricia to find out more about the duo’s unconventional business tale.

LearnVest: You were a courtroom illustrator and Mel was a newspaper reporter. What made you think that you could make and sell clothing?

Patricia Ziegler: We were young and having fun, and we kind of felt like we had nothing to lose. Well, except the $1,500 we had in savings between us! Also, it was the late ’70s—not a great time for fashion. Everything was polyester and disco shiny. We were craving clothing with character.

To finish reading this post, head on over to LearnVest.
To finish reading this post, head on over to LearnVest.

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