Women Who Rock: Lindsay Segal
As I will mention again and again in this blog, the fierce and feisty women who grace my life continuously inspire me. When I meet a kindred spirit, I can’t help but want to tell her story. After all, that is the point of Rich Women Rock. I want this to be a place where women share their adventures and their challenges – removing the taboo that too many of us were raised with when discussing money.
This month, I want to introduce you to Lindsay Segal. Lindsay is the fearless and fashionable co-owner of Luxury Garage Sale – a revolutionary designer consignment business that launched in Chicago in 2011 with a strong online presence, two storefronts in Chicago and one in Dallas, and a powerful series of “pop-up” stores across the nation. Lindsay is as smart as she is stylish, so I asked her to share her story with us.
Obviously, family and friends make my life feel rich – I couldn’t do this without them.
Annette: What makes you feel rich?
Lindsay: Obviously, family and friends make my life feel rich – I couldn’t do this without them. However, this business, Luxury Garage Sale is what has really enriched my life. It actually makes me feel complete. I am so proud to work with so many creative women as we build this dynamite national brand. I have so much fun working in fashion and redefining consignment for the next generation. LGS makes waking up every day feel exciting. Nothing is richer than that!
Annette: When did you start planning for your financial independence?
Lindsay: My father is a trader and a financial planner and always stressed the importance of saving for a rainy day and POCI (the power of compound interest). Launching my business with my business partner took a leap of faith on both ends and we knew that if we grew the business methodically, then we would have something special. LGS is a unique business venture because since we work on consignment, we are able to assume merchandise with no cost. This helped us scale faster and with a bit less stress than the usual retailer. Once we saw how quickly LGS was growing, we made the decision to invest in opening up more storefronts and to put money into our other channels. Five years later, I am happy to say that the risk we took has paid off and I am ahead of where I began when this adventure started.
I am all about the stand out piece with a story – something that is perfectly reflective of my personality.
Annette: What makes you feel confident in your closet?
Lindsay: Well you know, you’re in my store all the time! I am all about the stand out piece with a story – something that is perfectly reflective of my personality. Something that people can’t resist but to notice and ask about.
Annette: What makes you feel confident in your finances?
Lindsay: Surprisingly, they are similar! I feel most secure when I have enough saved where I know that I can handle any surprise or any little pinch that presents itself. It’s the same way that I feel when I am asked to a last minute event and I already have the perfect thing in my closet. No stress! It’s just there when I need it!