By Carlo Versano
When Sophia Amoruso's Nasty Gal filed for bankruptcy in 2016, it marked a stunning reversal of fortune for an "It Girl" of the fashion world who groomed her vintage eBay shop into what was once one of the fastest-growing retailers in America.
Roughly two years later, Amoruso owns the failure. Speaking to Cheddar from the JPMorgan Chase [Women on the Move] (https://www.jpmorganchase.com/corporate/About-JPMC/women-on-the-move.htm) conference, she admitted that she "blew it with Nasty Gal."
The company was purchased out of Chapter 11 in April 2017 by the BooHoo Group and still operates today, though Amoruso is no longer involved. Now she runs Girlboss, a media venture for young women that's part LinkedIn, part event promoter, and part podcast producer.
The site takes the name of the Amoruso's book and an ill-fated Netflix show that, in a stroke of epically bad timing, premiered just as Nasty Gal was collapsing.
With those connotations, Amoruso would be forgiven for choosing a new title for her company. But as she told us, the Girlboss brand felt ever-relevant, especially for the audience of ambitious millennial women that Amoruso herself had cultivated.
"A 'girlboss' is someone who doesn't take no for an answer," she said. "It's a philosophy."
A key part of that philosophy is "saying yes" and persisting. Amoruso said the trait that is often praised in men is too often dismissed in women. "You don't get what you don't ask for," she tells her followers and employees. "There's a way to be graceful ー and annoying ー to get what you want."
Amoruso, who as a female entrepreneur was praised for "killing it," "blowing it," and "everything in between," wanted her new company to reflect the values she holds as a founder. So every new Girlboss employee is also named a "co-founder" and given equity, she said.
"Being a founder is lonely," she said, speaking from experience.
For full interview click here.