From 0 Customers to $10 Million in Sales...

This is the New Money Talks Newsletter, the newsletter packed with entrepreneurs' personal stories, financial tips, and more!

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Today, we’re diving into the story of Luxy Hair, an ecommerce business that has made a significant mark in the hair extension industry.

If we told you that there’s a way to start an ecommerce business with only $20,000 of your savings and grow it to a $10 million revenue in 6 years, would you believe us?

You might think that’s impossible, or that you need a lot of luck, or some kind of miracle to do that.

But the short answer is NO.

Because that’s EXACTLY what Mimi and Alex Ikonn did.

They are the founders of Luxy Hair, an ecommerce business that sells high-quality clip-in hair extensions online.

And the experience in ecommerce, hair, or beauty they had was pretty much ZERO. Now you might be wondering “How did they even start”.

Well…the story begins in 2010 when Mimi and Alex Ikonn were living in London.

They were both working in corporate jobs, but they weren’t happy or fulfilled.

Mimi and Alex wanted to do something more MEANINGFUL and creative with their lives. They didn't want to be the SAME every day and lead a boring and miserable life.

Their dream was to start their own business.

They got interested in ecommerce, and they saw the potential of selling fashion and beauty products online.

So they decided to create a product that they themselves wanted and needed: clip-in hair extensions.

Clip-in hair extensions are pieces of hair that you can attach to your own hair to make it longer, thicker, or more colorful.

They are easy to use, affordable, and versatile. They can transform your look in minutes, and you can change them as often as you want.

Mimi and Alex had a hard time finding high-quality clip-in hair extensions that matched their hair color and texture.

They also noticed that there was a lack of information and education on how to use and care for hair extensions.

And that’s where they saw a gap in the market, and they decided to fill it up.

The founders of Luxy Hair did some research and found a supplier in China who could provide them with 100% human hair extensions.

They ordered some samples and tested them on themselves and their friends, and they were pretty satisfied with the quality and the results.

So, Mimi and Alex took $20,000 of their savings and bought 400 sets of hair extensions.

They wanted to create a brand reflecting their values and vision: to provide high-quality hair extensions that would make women feel more confident and beautiful.

They launched their website in June 2010, and they were ready to sell their products online.

But there was one BIG PROBLEM that could DESTROY their business…

They DIDN’T have a SINGLE customer.

That’s the time when they realized that they needed to market their products and reach their target audience which was: women who wanted to have longer and thicker hair.

They also realized that they needed to educate their audience on how to use and care for hair extensions.

And then they got an idea to start creating content that would showcase their products and provide value to their customers.

Mimi and Alex saw the potential of YouTube to reach and educate their target audience.

And they decided to create a YouTube channel where they would share tutorials, tips, and tricks on how to style and care for hair extensions.

They also featured real customers and influencers who wore and reviewed their products.

They bought a camera, a tripod, and some lights, and they started filming videos in their apartment.

They uploaded their first video in July 2010, and they called it “How to Clip in Hair Extensions”.

Mimi and Alex showed how to attach the hair extensions to their own hair, how to blend them seamlessly, and also showed the before and after results, and how the hair extensions made their hair look longer and thicker.

They uploaded more videos on different topics, such as how to curl, straighten, braid, and color hair extensions.

They also uploaded videos that were not related to hair extensions but to their personal lives, such as their travels, their hobbies, their routines, and their stories.

Mimi and Alex wanted to show their personality and their lifestyle and to connect with their audience on a DEEPER level. They wanted to create a relationship and trust with their customers.

Their YouTube channel was a hit and it was their KEY to success.

YouTube helped them to showcase their products and provide value to their customers.

YouTube also helped them create a strong brand identity and personality that resonated with their audience.

And it also helped them to leverage the power of social proof and word-of-mouth to grow their brand awareness and trust.

Their YouTube channel was the fuel that kept their business alive and growing. It helped them to sell their products, make money, and achieve their ecommerce goals.

Luxy Hair is a story of how a couple with a passion and a vision turned their idea into a profitable business.

They are living proof that you don’t need a lot of money, experience, or connections to start an ecommerce business.

You just need to create a product that people want, and a content strategy that people love…

So, what are you waiting for?

Start today. And don’t stop until you WIN.

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See you on Friday:)