Korean-born Roy Lee was just like any other kid. He would go to school, play, and help his parents in their brick ‘n’ mortar beauty store. By the time he was in the sixth grade, Roy quietly developed a keen interest in business development and marketing. Slowly but surely, the kid who was just stacking shelves is showing potential in becoming a CEO.
After he graduated, Roy built an online K-Beauty brand and manufactured his products. Later on, he consulted for a multi-billion dollar furniture manufacturer. Inspired, he decided to build his furniture brand exclusively using e-commerce. Thus, Nouhaus was born, turning the furniture world on its head.
In just three years, Nouhaus became the newest, most innovative, award-winning furniture brand valued at $100M. The success of the brand, according to Roy, comes from three approaches that he now shares.
The career of an entrepreneur or creator is rife with challenges. And like Roy, those who succeed are the ones that learn from their experiences, both the good and bad, rather than let them pass by.
“Even today, doing $30 million a year and forecasting $50 million next year, I still make mistakes and have to learn every day. For many people, what makes this hard is usually our ego and fear of being seen as wrong. Those things keep us stuck. And admitting mistakes can feel embarrassing when you’re not used to them. But learning always propels business forwards, and embarrassment becomes empowerment when you do it enough times,” Roy said.
Form Strategic Partnerships
Another way that Roy secured the success of Nouhaus is by finding the right partner to help the brand gain leverage among the others in the market.
This became possible when Roy entered a strategic partnership where he would build a new US-based furniture brand for both to profit-share. This provided Roy with the resources he needed while the manufacturer added a new retailer to their portfolio without risk.
Adapting To The Market
Nouhaus was initially meant to market massage chairs only. But because their name still wasn’t known when they first started, Roy had a crucial decision to make to save the business. As a result, Nouhaus became known for its office furniture.
“There’s a saying in the market: ‘riches are in the niches.’ And while massage chairs seemed to be our niche, as an entrepreneur you have to be open-minded and see beyond any principle that doesn’t serve you,” Roy said.
These are the secrets to Roy’s success. He adapted to the market, built strategic partnerships, and learned new lessons along the way. This allowed him to build Nouhaus to become the only furniture brand exclusively sold via e-commerce, giving customers access to ergonomic designer furniture at a more suitable price.
Find out more about Nouhaus on Instagram.