Mr Smith began his product range as ‘managed under license’ meaning that no cash was required but rather funded and controlled by someone else who then paid royalties back to him.
“As years progressed I sold the salon business, and watching Charles Worthington and John Frieda sell their brands, I focused my energy on my own brand which is now owned, run and managed by myself.”
This pricey endeavour required a lot of funds, most of which Mr Smith raised against his commercial properties. However, growing the brand needed another cash injection.
“I would say this is standing somewhere between the £700,000 and £1million region. Profits generated by the business are for filling this. Today the business has an annual retail turnover of £10million.”
Mr Smith also noted that some sayings from his mentor, co-founder of Toni&Guy Toni Mascolo OBE, kept him going through the trials and tribulations: “He often said to me ‘always enjoy the journey.’ I was in a rush to get to the money but he made me stop and appreciate the present. These words still guide me today.”