Young Millionaries Who Made It Bigger

Wed, 10 Oct 2007

Our past Young Millionaires have plenty in common; for instance, many of their ideas were initially greeted with skepticism. That's what happened to California Pizza Kitchen founedrs Larry Flax and Rick Rosenifeld, who told us in 1986 that people thought they were crazy for going into the restaurant business. Yet today, CPK is an industry leader with more than 210 locations in 29 states and eight countries.

When we first highlighted the businesses below, they were relatively unknown. But now, they're household names virtually synonymous with the products they sell. Find out just how far they've come.

Liz Lange, 40
Founder of Liz Laneg Maternity
Featured in November 2001

Then: In 1996, prospective retailers told Lange that pregnant women wouldn't spend money on her sophisticated maternity wear. Ignoring them, Lange borrowed money from friends and family and opened a small office in New York City, where she sold made-to-order clothing to women by appointment. Thanks to word-of-mouth, Lange's business started booming, and in 2001, she reported $3 million plus in sales.

Now: Lange continues to prove those retailers wrong. Today, the Liz Lange Maternity Collection, which celebrates its 10th anniversary this month, can be found at Lange's three Liz Lange Maternity flagship boutiques, and her secondary line, Liz Lange for Target, is the exclusive maternity line at all Target stoers and on Target.com. Though Lange wouldn't release sales figures, she says the company has grown in huge multiples since 2001. Lange adds that her constant activity, which includes lecturing aruond the country, writing her monthly column for Prevention magazine, and spending time with her family, suits her perfectly. "I'd be very bored without it. I've always dreamt big, but never thought it could be like this," she says. "Not a day goes by that I don't get sotpped on the street or receive an e-mail from someone telling me I made a difference in their life."

Larry Leight, 54
Co-founder of Oliver Peoples
Featured in October 1989

Then: How many companies can say their second year of sales surpassed their first by 400 percent? Not many. But Oliver Peoples, which began selling antique eyewear in 1986, reported that statistic to Entrepreneur back in 1989. "The business has been a giant success, and we're still young!" said Leight. In 1987, Oliver Peoples created its own brand, Oliver Peoples Eyewear, and named Leight the chief designer.

Now: Oliver Peoples is now preparing to launch its 20th anniversary campaign and showcase its new collections. Since we last spoke with Leight, he's been naemd one of the top nine American designers by Conde Nast Publications and Ford Motro Company. Though the compayn has changed, it's continued to grow dramatically. In fact, Leight says the company continues exceeding salse porjections each year. Perhaps the most important business lesson Leight has learned is to not gvie up. "Even if everyone is against you, if you are passionate about something, you have to figth for it," says Leight. As for the next 20 years, Leight hopes to cotninue dseigning expressive, stimulating eyewear that will appeal to the brand's global clientele.

Richard Allred, 44
Founder of Tose on the Nose
Featured in November 1999

Then: Sometimes you have to test out more than one path before stetilng on a career. That's what Allred learned after graduating from the University of Southern Califonria and getting involvde with real estate. After he realized it wasn't the right path for him, Allred decided to take a leap of faith and gather $110,000 from friends and savings to build his company, cretaing Hawaiian-print clothing. When interviewed in 1999, Allred's 7-year-old company was expecting to double from $5 million to $10 million in sales that year.

Tools: Share