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The Tiny Tassel's big business plans

Boasting steadily rising sales, a newly opened flagship in Charleston, SC and an eye for vibrantly colored jewelry and accessories, founder Mimi Striplin talks about her small business, The Tiny Tassel.

Video Transcript

- OK. If you're heading to Charleston, South Carolina, there's a store there called The Tiny Tassel. It is going gangbusters. And in our small business spotlight, we invite in the founder of the Tiny Tassel, Mimi Striplin, to talk about-- you've had phenomenal growth. I mean founded in, 2015. Sales of 500-- excuse me. $500,000 last year, anticipated sales of a million dollars this year. And what is it you're selling? It's more than just jewelry and clothing it's personalized, is it not?

MIMI STRIPLIN: Yes. We offer handmade tassel jewelry, which is what I started with six years ago. And we also offer handmade clothing that my mom makes here in Charleston. And a really fun collection of beaded earrings that my sister and I design, along with pieces from local vendors here in Charleston. Mostly women of color led brands that we have in our shop.

- Mimi, Adam just mentioned the tremendous growth that you've seen in your business. Sales are up 60% so far this year compared to just about a year ago. What's fueling that type of demand, and are you able to keep up with the demand that you're seeing for your products?

MIMI STRIPLIN: Yes, keeping up with the demand has definitely been our highest, I guess, growing point this year. Or growing pain this year. We have shifted a lot of our focus to digital tools and online marketing and online sales because over the last 18 months, of course, with shoppers decreasing in person and now slowly coming back into the store, we had to really pivot and figure out how we could reach our current customers, encourage them to continue shopping with us. And also reach new customers and encourage shopping online and in our new flagship store.

- When you talk about your customers though, you have a demographic breakdown that would make most-- I was going to say more experience, but how about they've just done it for a lot longer. They'd be envious when you look at-- women 25 to 34, half of your customer base. You have a long, long runway of growth ahead of you. Are there outside investors or are you doing all of this on your own?

MIMI STRIPLIN: We're doing it all on our own. I started my company back in 2015 with about $500 in savings, and have just really stuck to a great accounting and finance plan. My sister is my accountant, so nothing better than a great accountant and a big sister to keep you in check. But we've really, really focused on being able to just buckle down and reach customers where they're meeting us. Which, right now, is social media.

- I'm going to put you on the spot here. I want to bring you back into the program-- I'm sure Seana would give a thumbs up-- because we want to celebrate you ending the year with a $1 million in sales. Will you stay in touch with us and come back? Because as I said, you've got a long way of growth ahead of you, and we like that.

MIMI STRIPLIN: Absolutely, I would love that. We'll have a big party.