Coco Chanel: The Life of A Successful Entrepreneur

• The Chanel suit remains a popular design today
• "The little black dress" transformed society's impression of a color you would only wear to funerals, into chic evening wear
• Created what may be the most famous fragrance of all time, and the first to be made from several different scents rather than just one: Chanel No. 5.

Gabrielle Bonheur Chanel

(Coco Chanel)

Background...

Why I Chose Coco Chanel...

Born August 19th, 1883

Hometown of Saumur, France

Traits I would like to possess from Coco...

I chose to research Coco Chanel because I am interested in fashion. I have always heard of the name "Coco Chanel" and have even owned one or two Chanel handbags, but I've never really educated myself on the background of this entrepreneur. I was curious about her life and why she inspires so many people in the fashion industry. Over all, the most surprising fact I learned about Coco is how she transformed her life from such humble means (mother dying, father leaving her in an orphanage) to being a successful entrepreneur. When she died in 1971 her company was making over 160 million dollars a year, and Chanel makes even more today.

French fashion designer, founder of Chanel brand

My Personality Compared to Coco's...

Three questions...

Business Skills ....

Both Coco and I ...

- are leaders

- I demonstrate this trait by always taking charge both in and out of school because I am determined in most things I do

-risk-takers

- I demonstrate the ability to take risks because I don't care what others think and I am able to take risks that I think will benefit myself

-have passion for fashion

- I absolutely love shopping, putting together outfits, and keeping up with the latest trends

• self-confidence
• having more self-confidence will help me both in my current life and future by making me a happier and stronger person that knows their strengths and weaknesses
• optimism and high-energy
• creating an optimistic and high-energy environment in my future life will always benefit me because I will be a happier person
• also, in future business's I own, employees will enjoy the atmosphere they are working in

1. What was the hardest part about getting your business to become successful?

* She believed in herself - she was confident she would be successful. Because she believed in herself everyone else started to believe in her too.

* She exploited opportunities and connections - she used every opportunity to her own advantage... and every opportunity led to another.

* She always had a vision - she always kept in mind goals and what she was able to achieve.

* She stuck to her mission - In her case it was to help women from wearing corset and get into a new fashion trend were women could actually breathe without fainting.

2. What was your favorite part about running your own business?

3. Did you always see yourself owning your own business and designing clothes or was it unexpected?

Accomplishments...

Qualities that make Coco a legendary entrepreneur...

She Created Fashion Essentials...

She was a leader who was able to focus on objectives

High-energy and self confident

She was a risk-taker.. always pushing the envelope in the fashion industry

Overcoming A Modest Life...

• Coco was very young when her mother died and her father placed her in a covenant orphanage
• The nun who raised her taught her how to sew
• Opened her first shop in 1913
• Her business expanded from there

She Made Fashion Comfortable...

• One of the reasons Chanel's designs were so popular was because the designs included boxy linens which made wearing a corset unnecessary
• She also made most of her clothing from a jersey material that was used for men's underwear at the time
• Jersey is a comfortable fabric that drapes well and is almost universally flattering
• Chanel's use of this fabric for women's clothing eventually ended the need for corset's and gave women a more comfortable option for clothing

Background Information...

How did Coco become an entrepreneur?

Chanel caught her "big break" by becoming involved with Etienne Balsan, who offered to finance opening a hat shop in Paris

Twice a year Coco would travel to Hollywood to design costumes for MGM stars

Chanel began to sell out of hats so she started making clothes to sell, then perfume... eventually her business grew to the point where it became a household name

FAMILY LIFE

EDUCATION

• Until she was 17, she was educated by nuns at her orphanage
• After that she spent 2 years at another convent school
• She became great at sewing after being educated by nuns there

• Mother: Jeanne Devolle, a laundry women
• Father: Albert Chanel, street vendor
• 5 Siblings (2 brothers, 3 sisters)
• Family lived in a run-down lodge
• Mother died at age 12, sent to a convent

She made the tan popular after returning from a cruise to Cannes with a sunburn

When Coco passed away, only 3 outfits were found in her Rue Cambon apartment

Unique Facts About Coco Chanel

She got the name "Coco" from a song she performed in a musical called ‘Qui qu’a vu Coco'

The Life of A Successful Entrepreneur: Coco Chanel

Jenna Ferreri

3rd Block

Entrepreneurship

Thanks for a great semester in Entrepreneurship Mrs. Molnar!

Have a great summer!