Women in Power: Rising to the Challenge and Lessons from WWD

On September 9, 2024, our team had the privilege of attending the 4th annual Women in Power summit, hosted by WWD, Footwear News, and Beauty Inc. This incredible event brought together some of the most brilliant minds and top executives in the beauty, fashion, and retail industries to tackle the biggest challenges women executives and creative brand owners face today.

The summit featured a standout lineup of inspiring women leaders who left us in awe. Honorees and speakers shared their insights on effective leadership, revealing their playbooks for success in executive roles—spaces that remain largely dominated by men, with significant barriers to entry for women. These leaders showcased how they’ve not only succeeded but also navigated the adversity they faced, becoming powerful advocates for women and champions of a more equitable future in industries worldwide.

The speakers delved into their strategies for leadership, team-building, brand-building, and the critical importance of both healthcare and self-care for long-term success.

Key Topics Discussed:

• Building a Brand That Cuts Through the Noise
• Uplifting Communities by Design
• Assembling a Winning Team
• Running a Company While Prioritizing Personal Well-Being
• Leading Through Tumultuous Economic and Geopolitical Times
• Having Tough Conversations with Employees

The panel featured a dynamic mix of executives, senior leaders, women in management, venture capitalists, and entrepreneurs who are transforming their industries. Among the speakers were Tiffany Dufu, head of the Tory Burch Foundation, who spoke about uplifting women leaders; Sabrina Elba, who emphasized the importance of supporting Black women creating products that are inclusive for all, and ensuring equality across the supply and production chain; Erin and Sara Foster, who shared their experiences in building a brand; Jane Lauder, who highlighted innovation; Prose’s Helen Nwosu, who discussed consumer habits and personalization; and Katie Welch, who talked about creating a community through beauty.

Why This Matters

While there is reason to celebrate, as women now occupy more executive positions than ever before, challenges remain. Compared to 2023, where women made up 20% of executive roles, that figure has dropped to 18% in 2024. Additionally, 41% of board seats are held by women, yet only 38% of women occupy executive leadership roles. Alarmingly, as Forbes reported in March, women are leaving the workforce faster than they’re being promoted, a trend dubbed the "Great Breakup."

Many of these issues stem from a lack of inclusiveness in today’s companies. On a broader scale, 2024 has been a pivotal year for women’s rights globally, with opportunities being threatened closer to home than many realize. Women continue to face internal biases, sexual harassment, misogyny, and more. The Women in Power summit demonstrated that the women on stage not only understand these challenges intimately but are also ready to take them on and forge a path forward.

CEO of Aritzia Jennifer Wong: A Visionary Leader in Retail

Jennifer Wong's journey as CEO of Aritzia showcases the transformative power of leadership rooted in creativity, resilience, and inclusivity. With a remarkable 37-year tenure, Wong has played an integral role in evolving Aritzia from a small Vancouver-based retailer into a global fashion powerhouse.

Wong started her career at Aritzia as a part-time sales associate while studying economics at the University of British Columbia. Over the years, she rose through the ranks, gaining invaluable insights into all aspects of the business. Her hands-on experience has equipped her to lead effectively and inspire her team.

As the retail landscape shifted toward digital shopping and "retailtainment," Wong fostered a culture of creativity within Aritzia. By incorporating elements like DJ performances and café spaces, she created engaging shopping experiences. Her team demonstrated adaptability during the COVID-19 pandemic, showcasing collaborative problem-solving across departments.

Wong aims to redefine leadership narratives, emphasizing strength over sympathy. Under Wong's guidance, Aritzia has become known for "everyday luxury," appealing to a diverse consumer base. Her understanding of modern consumer behavior and commitment to innovation have solidified the brand's reputation. Jennifer Wong's leadership exemplifies the impact of dedication and creativity in retail, inspiring aspiring leaders and demonstrating the potential to create a lasting legacy in the industry.

Jane Lauder: Leading with Data and Empathy

Jane Lauder, Chief Technology Officer (CTO) and Executive Vice President of Enterprise Marketing at Estée Lauder Companies, has been a transformative force in the organization for over 27 years. Her unique blend of analytical prowess and empathetic leadership has positioned her at the forefront of integrating technology and artificial intelligence (AI) within the beauty industry particularly in her family’s business Estee Lauder. 

In her role as CTO, Lauder has spearheaded the implementation of AI to streamline labor-intensive tasks, particularly in graphic design. Her vision is to leverage technology to alleviate repetitive work, allowing her team to focus on thought leadership, creative development, and strategic initiatives. Lauder emphasizes that the acceptance of AI in the company is exceptionally high, reflecting a culture that embraces innovation to enhance productivity and creativity.

Lauder's path to leadership is shaped by her upbringing as the youngest daughter in a family of extroverts. Often feeling overlooked, she transformed this perceived weakness into a strength, cultivating an observant and reflective leadership style. Lauder credits her success to her passion for data and numbers, which aligns with her introverted nature. By practicing effective communication and embracing her unique perspective, she has learned to navigate the challenges of being an introvert in a predominantly extroverted environment.

Throughout her career, Lauder has been inspired by strong female figures, including her grandmother, Estée Lauder, and other executives within the company. She acknowledges the importance of mentorship and strives to uplift other women in leadership roles. By sharing her experiences and insights, Lauder aims to pave the way for future generations of women in the industry.

Spotlight on Tarte Cosmetics: A Legacy of Giving Back

Tarte Cosmetics, founded by CEO Maureen Kelly, celebrates 25 years of success marked by a strong commitment to community and social responsibility. Born out of Kelly’s kitchen in Manhattan’s Lower East Side, Tarte has evolved from humble beginnings to a thriving beauty brand while maintaining a core belief in giving back to society.

Kelly's journey began with a passion for creating high-quality cosmetics and building a community around her products. Even in the early days, when Tarte was not yet profitable, Kelly prioritized giving back over financial gain. She established a foundation aimed at supporting her local community, reflecting her belief that businesses have a responsibility to contribute positively to society. This ethos resonates throughout the company, guiding its initiatives and relationships.

Recognizing the power of collaboration, Tarte has cultivated meaningful relationships with influencers who have played a crucial role in the brand's growth. Kelly believes in creating personalized experiences for these influencers, hosting events that feel more like family gatherings than promotional activities. For example, during their first influencer trip to Long Island, Tarte went the extra mile by providing accommodations and printing family photos to create a warm, home-like atmosphere. This approach not only strengthens connections but also fosters a sense of belonging within the Tarte community.

Spotlight on Tiffany Duffy: Inspiring Leadership and Empowerment

Tiffany Duffy, CEO of Tory Burch, delivered an inspiring talk that resonated deeply with her audience, emphasizing the importance of celebrating the opportunities and strengths that define America. Rather than focusing on divisive issues or negativity, Duffy encouraged her listeners to recognize the potential for growth and success in the country, reflecting her belief in the American dream.

Duffy's perspective is shaped by her father's remarkable journey from poverty in downtown Los Angeles to achieving a Ph.D. in philosophy and building a successful business. As one of eleven children, her father exemplified the transformative power of hard work and determination, particularly through the opportunities afforded by the GI Bill. Duffy highlighted that such upward mobility is possible within a single generation, urging others to seize the chances available to them.

At the core of Tory Burch's mission is a strong commitment to giving back to the entrepreneurial community. The Tory Burch Foundation provides vital support to women entrepreneurs through funding and resources. Duffy emphasized the importance of creating partnerships with banks to offer financial assistance while also providing "sweat equity," helping entrepreneurs navigate areas like marketing, communication, and logistics. This multifaceted approach alleviates the burdens faced by many founders, allowing them to concentrate on their passions and core business objectives.

Duffy also addressed the unique challenges faced by women in leadership positions, acknowledging the guilt that often accompanies the struggle to balance multiple responsibilities. She encouraged women to embrace their imperfections and recognize that it's acceptable to drop the ball sometimes. By celebrating failures and understanding that no one can do everything perfectly, women leaders can focus on their strengths and cultivate environments that foster growth and resilience.

Erin and Sara Foster: Authenticity in Brand Building

Erin Foster and her sister Sara Foster, co-founders of the lifestyle brand Favorite Daughter, exemplify the power of authenticity in building a successful brand. As the daughters of music legend David Foster, the sisters have harnessed their family's charisma and creative legacy to create a multifaceted brand that includes a TV show, a podcast, and a burgeoning product line.

With Favorite Daughter, Erin and Sara have crafted a brand that resonates deeply with their audience. The brand captures the essence of their personal style and lifestyle, reflecting a genuine passion for design and authenticity. By creating products that they themselves would love, the sisters ensure that every item embodies their values and aesthetic. This commitment to authenticity has allowed them to build a strong emotional connection with their consumers, who see themselves reflected in the brand.

Both Erin and Sara emphasize the significance of being deeply intertwined with the brand they represent. They are committed to living and "bleeding" their brand identity, ensuring that their values shine through in everything they do. This holistic approach fosters a sense of community among their customers, who appreciate the genuine nature of Favorite Daughter. By staying true to themselves and their values, the sisters create products and experiences that reflect their unique lifestyle, proving that genuine connections and compelling storytelling can drive lasting success in today's competitive landscape. With their unwavering commitment to authenticity, Erin and Sara Foster and Favorite Daughter are poised to continue riding the wave of success in the ever-evolving world of lifestyle branding.

Prose and Helen Nowusu: Revolutionizing Personalized Hair Care

Prose stands out in the direct-to-consumer (DTC) landscape by offering customized hair products—shampoos, conditioners, hair masks, and supplements—formulated specifically for each individual's needs. This innovative approach caters to the growing demand for personalized beauty solutions, transitioning from generic products to those that truly resonate with consumers.

Recognizing that today's consumers seek products tailored to their unique needs, Prose has embraced a philosophy centered on individualization. The brand is not only focused on hair care but is also expanding into skincare, further solidifying its commitment to personalized beauty. Prose understands that each consumer's journey is different, and their products evolve alongside their customers, adapting to changes in lifestyle, environment, and genetic factors.

In today's digital landscape, Prose recognizes the importance of social commerce in shaping consumer preferences. The brand is keenly aware that customers are inundated with information from various sources, making it crucial to provide discernible and relevant content. Prose leverages social platforms to engage with its audience, fostering a community where consumers can share their experiences and insights.

Sabrina Elba and Sable Labs: Empowering the African Community through Beauty

Sabrina Elba, founder of Sable Labs, is leading a transformative movement in the beauty industry with a focus on rich melanin skin. Elba emphasizes that when a product is developed with high-quality ingredients tailored for rich melanin skin, its effectiveness is guaranteed for everyone. This commitment not only enhances the brand's appeal but also promotes a broader understanding of beauty that is inclusive and diverse.

The company also prioritizes sustainability and inclusivity in its supply chain by sourcing natural ingredients from local farms, particularly those that empower women. This approach ensures product quality while fostering economic growth within West African communities. By working directly with farmers, Sable Labs supports local economies and encourages responsible farming practices, showcasing a model where beauty and philanthropy intersect. This holistic approach ensures that the benefits of the supply chain are felt by all, creating a positive ripple effect throughout the community.

Sabrina Elba and Sable Labs are reshaping the beauty landscape by focusing on the unique needs of melanin-rich skin while advocating for inclusivity and sustainability. Through their comprehensive approach to product development and a commitment to empowering local communities, Sable Labs exemplifies how beauty brands can drive meaningful change. As they continue to innovate, Elba’s vision highlights the potential for beauty to serve as a force for good, benefiting not just consumers, but the communities from which they source their ingredients.

Katie Welch and Rare Beauty: Building Community Through Wellness

Katie Welch, a key figure behind Rare Beauty, the brand co-founded by Selena Gomez, delivers an inspiring message about the intersection of beauty, wellness, and community. Welch emphasizes that Rare Beauty is more than just a celebrity-driven brand; it’s a movement rooted in genuine connections and meaningful conversations around mental health and well-being.

Launched during the COVID-19 pandemic, Rare Beauty's themes resonate with feelings of loneliness and isolation that many faced. The brand aims to foster friendships and connections, inviting people to engage and support one another through the beauty community. Welch highlights how the brand aligns with the mission of the Selena Gomez Foundation, which focuses on mental health awareness, making it a natural extension of Gomez's commitment to improving well-being.

With Selena Gomez recently becoming a billionaire, Welch underscores that investing in celebrity endorsements can be a smart strategy for new brands, especially when those endorsements are authentic and resonate with consumers. But, it’s important to note, that Rare Beauty is not based only around Selena Gomez’s celebrity and this strength relies on the fact that it expands beyond Selena Gomes as a person. Rare Beauty's success reflects a strong synergy between community engagement and celebrity influence, demonstrating that listening to the needs of the community can propel a brand to great heights.

Conclusion

The Women in Power Summit highlighted the incredible potential and resilience of women leaders across industries. As they tackle significant challenges, from gender equity to personal well-being, these women exemplify what it means to rise to the occasion and create a brighter future for the next generation of female executives and entrepreneurs. With the insights and inspiration gained from this event, we are reminded of the importance of collaboration, mentorship, and a shared commitment to building a more inclusive and equitable world for all.