IB Woman
Issue No. 45 - Feb/March 2009
Devoted to business
by Penelope Herbert
John D Rockefeller Jr once said a friendship founded on business is better than a business founded on friendship. If so, a business between sisters may be fraught with difficulties, but not for Jenny and Minh Lam, who have such clearly defined strengths and interests that two heads are definitely better than one.
A physiotherapist and occupational therapist respectively, Jenny and Minh decided to channel their creative energies into a ‘party plan’ business offering quality leather handbags and accessories. They agreed not to open a shop but bring people together in a social atmosphere. A $38,000 business loan set Jenny and Minh on their way.
“I had suffered an injury so spent a whole month on my back researching on the internet,” says Jenny of the duo’s first foray into a new business.
“We decided against selling shoes so looked at other items that reflected our mission statement of offering high quality, timeless and luxurious handbags and accessories sourced from around the world, fit for the modern woman.”
Starting with what they knew, the duo investigated Thailand to source products followed by exotic leathers from Korea and India and scarves and silver from New York. The name of the business, Devote, was due to the sister’s devotion to their business, the quality of their products, and their focus on customer service and continuous improvement. But Jenny says the name also seemed appropriate for the devotion shown by customers.
“We began selling items to our own friends sourced from the internet even before our first overseas buying trip,” says Minh. “We had undertaken exhaustive research but also had to plan logistics, account keeping, inventory and our respective roles. Luckily Jenny and I have different talents and interests so there were really no overlaps.
Jenny handles account keeping, logistics and research roles while Minh focuses on more creative tasks such as marketing, branding and deciding...
