Our fourth journal comes from Oliver Millar, COO of the Luxe Collective Fashion, which delivers pre-owned luxury and couture items and has amassed an estimated worth of £5million since the brand began in a bedroom in Merseyside, Liverpool.
Along with brothers Ben and Joe Gallagher, Oliver Millar made what has been dubbed the best ever negotiation in the Dragons’ Den. Over all their social media channels 2.1 million people are following their story. His purpose is entrepreneurship and along the way he has overcome the challenges of three failed businesses and an empty bank account.
"Four years back, I made a big move, quit my job, and jumped into the wild world of entrepreneurship. Inspired by my dad's go-getter attitude, I always wanted to create something meaningful and leave my mark. Little did I know that this choice would take me on a crazy ride filled with ups and downs, and with a recent appearance on Dragons' Den.
My whole entrepreneurial adventure kicked off with me starting a business that delivered high-nutrition meals on a subscription basis. Motivated by a desire to be my own boss and build a legacy, I identified an opportunity to improve the existing business I was currently working within. Taking the risk of going it alone made sense, leaving “traditional” jobs was an easy decision for me. I always found myself leaving roles due to pointing out every pitfall in the business and as you can imagine, management didn’t take too kindly to that.
The early days of my first venture were like a crash course in trial and error. Then, in March 2020, COVID-19 turned everything on its head. Huge disruptions to supply chains led to the closure of my suppliers, this tumultuous period turned out to be a blessing in disguise, as it gave me a way out from what was turning into a nightmare of a business. Lockdown left me jobless, but it also provided an opportunity to pivot. The lightbulb moment came when the delivery guy picking up my last orders of nutritional meals mentioned that juice cleanses were in demand. So, with that, I switched gears and within a month, my new juice cleanse business was up and running.
Even though I ran the juice cleanse business for over a year, making over £100,000, scaling it up was a headache. The production was a lot of work, and my attempt to undercut the competition left me with thin profit margins. Undeterred, I chose to pivot again and made the switch to include health gummies to add to my juice cleanse services. However, delays in gummy deliveries, loss of premises, and therefore the inability to produce juices brought both ventures to an abrupt end. Now, three failed businesses later, I found myself at a crossroads, grappling with an empty bank account and with a cloud of depression hanging over me.
Just because my businesses had stopped, didn’t mean life - or should I say the bills - did, I needed an income, so I found myself turning to an unexpected job – selling cars on social media, using the same company I leased mine from before I couldn't afford it. Before I knew it, selling cars became my way of paying rent.
During this tough period, I found myself assisting Luxe Collective. I had a relationship with the brand already, after bumping into Joe in the gym one morning, which led to me setting up their ad accounts. The accounts were seeing great success thanks to the self-taught paid advertising techniques I had adopted in my second juice cleanse business. Both Joe and Ben recognized my potential and dedication and asked me to join them on their journey. My role was to head up Luxe Collective’s operations with the collective vision of scaling the brand to become the largest pre-loved luxury reseller in the UK.
Without a second thought, I said yes. Little did I know, this decision would flip my entrepreneurial journey. In just two years, we turned Luxe from a £2.5 million business to a £6 million powerhouse. The team grew from 5 to 30, and our HQ went from 2,000 sq ft to an impressive 12,000 sq ft. The icing on the cake was our appearance on Dragons' Den. We snagged a deal with Steven Bartlett for 3% equity in exchange for £100,000 - the largest valuation the programme had seen. Since then, working with Steven and his team has been nothing short of amazing.
Looking back, from struggling with my businesses to unexpectedly hitting it big with Luxe and Dragons' Den, entrepreneurship has been a rollercoaster. It takes resilience, flexibility, and a rock-solid commitment to your dreams. Every setback is a stepping stone, every failure a lesson, and every unexpected opportunity is a chance for growth.
I choose to frame my journey as an example of the unpredictable ride of entrepreneurship, where success often comes from a taste of failure. I’ve learnt the importance of resilience, learning from my mistakes, adapting to change and taking the risk of unexpected opportunities. I hope my experience speaks to the power of hanging on in there, even in the toughest of times, as there is always potential for success. Take it from me, you will emerge on the other side not just as successful, but significantly stronger (which in fairness, is a success in itself?)."
