[Founder Notes] Coco Chanel

"Stories sell." Payless opened a pop-up, created stories, marked up 300x, and sold out. There is benefit in being weird and different.

High-level secrecy. While living as a kept woman, she created hats — bought them cheaply, dressed them up.

Don't ever take 10% net. Always take 10% gross. She got burned legally — gave up control and took net of sales.

Obsessed. Never stopped designing clothing.

— Jay