We are in Laguna Beach, California. Ronnie is a retail legend, with more than 40 years experience in fashion. He is an original investor in the Lifted Research Group Clothing Company, better known as LRG. Post-interview, we received enough LRG gear to outfit us for our roadtrip.
Interview: How To Start a Clothing Line
Ronnie Ghenender is a financial partner for the Lifted Research Group Clothing Company, better known as LRG. The retail industry has always been a part of Mr. Ghenender’s life as his father was a dress manufacturer. Ronnie has excelled in the retail business for over 40 years.
Five years ago, two up-and-coming entrepreneurs (Jonas & Robert) approached Ronnie with an innovative business plan and sample products seeking investment funds. Upon viewing the sample product, Ronnie said, “it just went ‘Boing,’” and he knew immediately that LRG was a promising investment.
In the first few years, unforeseen expenses led Ronnie to invest twice the estimated initial amount. He advised that retail investors should “always expect to invest the same amount as you first put in because you never know what’s going to happen.” Today, LRG is one of the leading clothing companies. The brand represents the curiosity and innovation of youth culture. As a result of its success, Ronnie has enjoyed a healthy return on his investment.
Ronnie said that the essential aspect of business is money. You must have enough money to implement your business plan and you must adhere to that plan. But more importantly, Ronnie says that “the only way to be good at something is to have a passion for what you do. Don’t even bother if you don’t have passion because you can’t be good at something you don’t love.”
When asked about the relevance of college courses to the retail industry, Ronnie explained that, “nothing is as defined as school has you believe.” With regards to selling Ronnie proclaims that “you are only as good as what you sell. You’ve got to have something good to sell to be good in sales.” He also warns that the nature of the business is extremely competitive: “People will do anything not to fail, regardless of morals or ethics.” Ronnie has achieved an impressive level of success in his 40 year career and says, “to have your money work for you, instead of you work for your money is the American dream.”