One of Australia’s richest women shares her tips on her booming fashion business that landed her an estimated fortune of $56million.
Tania Austin, 46, the CEO of fashion store Decjuba has built the company from strength-to-strength since 2008, the Herald Sun reported.
Then, Decjuba had a small five stores compared to its current leap of 100 and successful online business in Australia and New Zealand.
Tania Austin (pictured) is one of Australia’s 30 richest women with an estimated fortune of $56million
Austin (pictured) typically removes herself from media as it’s about her business, not about her
Despite her successes – and being labeled as one of the 30 richest women in Australia – Austin lives a fairly moderate life with her children in Melbourne.
Most Australians wouldn’t be able to recognise Austin and her financial prominence as she believes it’s important she removes herself from media attention.
‘I don’t do a lot of media because this business isn’t about me, I don’t ever want it to be about me,’ Austin says.
Austin is passionate about her 936 employees – three who are men – referring to the importance of ‘the team.’
‘One of the drivers I have is about seeing people reach their potential and reach their potential when they don’t even know what that is,’ she said.
‘People say, ”You must love the travel and you’re in fashion, that’s so exciting”, but one of the things I love the most and what drives me is pushing and challenging other people and seeing them grow. It’s one of the things that satisfies who I am.’
Austin (pictured) is passionate about her employees, often satisfied when her staff reach their potential
Austin originally built her success and fortune with her ex-husband Nigel Austin as a co-founder of globally recognised fashion brand, Cotton On.
Austin shares three children with her ex-husband including Sky, 15, Jet, 12, and Zane, 11.
As a newly single mum, Austin left behind the increasingly popular Cotton On Group to start fresh – a decision that wasn’t easy but one that had to be made.
‘It couldn’t go on the way it was going on and something had to change,’ she said.
‘At the time it was the right thing to do and it wasn’t hard, it was like any other chapter in your life.’
Austin recognises that it isn’t in her DNA to do nothing and after leaving Cotton On Group six-months prior, she bought Decjuba.
Austin (pictured) was a co-founder of Cotton On with her ex-husband, a company that provided her with a large fortune
‘I needed to throw myself back into something. I’d been doing that for so long, it would have been a void not to have it,’ she says.
Austin thought it would be an easier balance with her young children as she could slowly build a company that only had five stores.
Her choice to work with Decjuba was also influenced by her own fashion style and growth as a woman.
Austin said it was a conscious decision to move away from really high-volume fast fashion at Cotton On Group to clothes that she wanted to wear.
‘I wanted something that lasted as well, wasn’t so trend and fad-driven, things that mixed and matched and went together so it was a bit of journey to get all those things together,’ she said.
Austin (pictured) decided to move away from fast-fashion Cotton On and buy Decjuba – a company that represented her fashion style
Austin enjoyed refreshing her business tricks and fundamentals when she started small with Decjuba.
Austin said: ‘If you’ve got no time for the small stuff, then forget about the big stuff.’
‘People only want to come in and do the big stuff. If you can’t nail the small stuff, then give it up.’
While many think that Austin competes with her ex-husbands Cotton On Group, she believes that the two clothing brands differ on many levels, especially target audience.
It hasn’t always been smooth sailing for the single mum as she can find the work-life balance difficult.
Austin (pictured) recognises that it hasn’t always been easy as she has three kids to balance with her work life
‘As a single mum, that’s the most important thing in the world to me, that the kids get what they need,’ Austin says.
Austin, who is originally from Perth, is grateful for good friends and her ex-husband living close by when it comes to raising her kids.
Despite the children’s large inheritance the business-savvy parents are conscious on raising well-adjusted and grounded children.
Austin ensures that her children understand how business can positive impact the globe as both Cotton On and Decjuba have partnered with charities.
‘It’s little things like they’ve got their own World Vision pen pal, which is great, and we were looking on the World Vision site, my son was sending off an email to his pen pal,’ she said.
‘The great part about having a business and growing a business is getting it to a point where it can have a real impact.’
Austin believes in the importance of philanthropy and makes sure her children are aware of the positive impact a business can make