By Lana Guineay
From law to leather: who said a career change doesn’t pay off?
It did for SA-born entrepreneur Alyce Tran. After studying Commerce and Law at the University of Adelaide and kicking off her career as a corporate lawyer, she quit her job to follow her love of fashion – and has just benefited to the tune of $4.5 million.
The Daily Edited began in 2011 as a blog where she could explore her interest in fashion and homewares. When Alyce and her co-founder Tania Liu had trouble finding high quality yet reasonably priced leather accessories, they decided to create their own and stock the line on the site. The Daily Edited was born.
It took off. Alyce found that she needed to employ several staff members to meet demand, and quickly realised she couldn’t run a business and spend 12 hours a day at a desk at a law firm. So she took the leap.
“It was a little scary at the start, but we haven’t looked back. It’s been an incredible journey,” she says.
The range of customisable, personalised lifestyle accessories, including tech cases and bags – and the carefully curated Instagram – were an instant hit with consumers around the world, and soon caught the attention of stockists like David Jones.
Alyce and her business partner Tania Lui have just sold a 30% stake in their brand to the OrotonGroup for $4.5 million, which valued The Daily Edited at a total of $15 million.
The entrepreneur says the power of online retail and social media means you can have global reach no matter where in the world you’re based – and while she’s now based interstate, she says her hometown has unique advantages for up-and-coming businesses.
“It doesn’t matter where you’re from, if you have the motivation to try things, that’s all you need. Adelaide is a pretty good base to start a global business from, you can market internationally from Adelaide and there are definite benefits as overheads like rent is much less than places like Sydney!”
“Growing up in Adelaide I knew there was a world out there to explore and it wasn’t hard to get to and from Adelaide. Wilderness School gave me a wide and international outlook and the feeling that I could achieve anything.”
Visit The Daily Edited.