48. How The Folklore Group Shifted Business Models to Empower More Brands with Amira Rasool

Pivoting a business is a risky and difficult decision to make. How do you know it’s the right choice? Today’s guest, Amira Rasool, says you’ve got to listen to the market, to the people around you, and most importantly, to your gut.

Amira is the founder and CEO of The Folklore Group, a supply chain software company that helps retailers access underrepresented brands, particularly from untapped markets in Africa, South America, Asia, and the Caribbean. 

She’s been taking business risks since she was a teenager, when she’d skip school to attend New York Fashion Week. In college, she interned at various fashion magazines and launched an online thrift store called Midnight Marauders. When it came time to start her own business, her inspiration came during a trip to Cape Town.

Amira shares all the details of the origin story of Folklore and the MAJOR pivot she made in 2022, turning Folklore into a solely B2B business – and how this has allowed her to build something she is passionate about that supports underrepresented people all over the world.

 

IN THIS EPISODE:

Amira’s beginning in the fashion space: her blog, fashion magazine internships (Women’s Wear Daily, Marie Clare, V Magazine) and her online thrift store Warm introductions and building trusting relationships, which Amira accessed by being a member of the press and through Techstars How Amira leveraged Techstars to build relationships and get the intros she needed in order to raise $1.7 million in pre-seed funding Direct-to-consumer vs. business-to-business – how Folklore tried to do both at first, but eventually pivoted to focus on B2B in 2022 The impact the murder of George Floyd had on demand for Black designers, including those that Folklore worked with

LINKS/RESOURCES MENTIONED

Learn about the work Amira is doing at The Folklore Group and The Folklore Connect, a premium B2B wholesale platform.

Sarina is a career coach and consultant who works with startup leaders and entrepreneurs. Connect with her on her website, on Instagram, via email, and check out more episodes of the Career Memos podcast.