Million Dollar Babies

Sydney woman Natalie Benke always knew she would run her own business one day. The fashion industry has always interested her, but she wanted to freedom to carve her own niche. Nina Lees speaks to a woman who dresses some of the trendiest children in the nation.

Natalie Benke would scoff at the notion that the fashion industry is embellished with glamour and cat walk glitz.
As a distributor and retailer of premium brands from overseas, Benke knows it's all about persistence, as well as relentless hard work, when the chips are down.
She is one of the small number of fashion operators that have managed to survive the cutthroat nature of the industry.
The young entrepreneur is the brainchild of the Lime Soda Group - a Sydney-based distributor of top-end European branded children's and women's maternity wear across Australia and New Zealand.
Benke took a leap of faith into her own business five years ago, feeling her way through the highs and lows that come with having the courage needed make it through the hard times.
She was 26 when she first started the Lime Soda Group.
"When I look back I was pretty young I guess," Benke says.
"I think when you're young you don't know all the inherent risks so you take that leap of faith. Sometimes when you're older you're a bit more sensible and you might not get out there and do something like this," she says.
While Benke had the emotional support required to take the step into her own business, financial institutions weren't quite so helpful.
"I just couldn't get that financial support - I couldn't find anyone that was willing to help us financially. The fashion industry is seen as very risky by banks, and they don't want to know anything about it," Benke.
"We didn't have any financial security like a house, so the banks just won't help you."
But she ploughed on, finally discovering debtor finance, which, while expensive and complicated, enabled her to get the dream off the ground.
"You've got to do what you can when you want to stay in business - you just keep pushing through and do whatever you can," Benke says.
Now, five years on and at 31, Benke has got the runs on the board and proven the early financial doubters wrong. The business imports and distributes luxury children's wear brands to more than 50 stores across Australia and New Zealand. And after just two years, the company has an annual turnover of $2 million.
2003 figures show the children's retail clothing industry in Australia alone generated around $800 million - a figure that will increase according to Benke.
So it was wise to get involved in retail over a year ago, opening two stores in the Double Bay and stocking the exclusive brands she imports as a spin-off to her importing business.
The Shop Next Door and The Shop Next Door - Mother and Baby, stock clothing for babies, children and mothers. The childrenswear is priced at between $30 and an astounding $350 per garment.
"We're selling what people want in Double Bay - there are a lot of mothers and babies in this area. You've got to have a good memory and remember children's sizes and go that step further to offer top notch service."
Benke has also built up a database of customers' email addresses to be able to communicate with them about new products launches. A website for the two stores are also in the Benke says children's clothing industry has changed dramatically from when she was a youngster.
"A few decades ago it was very common for mothers to dress their children in hand-me-down play clothes or outfits they had made themselves, but now we are seeing a new generation of time poor / cash rich parents who would rather spend a bit more on themselves and their children," Benke says.
"A lot of people are having less children nowadays at a later point in their life, with often both parents still working, resulting in high disposable incomes. And parents like this only want the best for their little girl on boy."
Among the Lime Soda Group's cache of top end European brands are Catimini, Replay & Sons, IKKS and Monnalisa in addition to trendy accessories including nappy bags from New York designer Kate Spade and UK leather guru Bill Amberg's baby carriers. These exclusive brand names are stocked in stores across the world, but hard to find in Australia.
"We get a lot of mums coming into the stores who are looking for the best and latest fashions for their child. We also see parents shopping for those special occasion outfits for birthdays and special events."
But considering the rate that children grow out of clothes, do they really need the latest fashions, or is it more for fashion-conscious parents?
"In a lot of cases, it's actually the children who have the purchase power when it comes to clothes.
"Quite frequently this stems from them simply wanting to copy the style they see on their parents, as we've found with the cult Brazilian thongs Havaianas. Now they're available in kids' sizes."
And while Benke started out on quite a different path in life when starting her career, she always knew she would end up in her own business.
After travelling overseas at 21, Benke entered the fashion industry working at OshKosh B'Gosh, where she worked for five years as executive assistant to the company's managing director, then as merchandise manager and then marketing assistant.
Benke's next foray in the world of fashion was as Gucci marketing manager of timepieces and jewellery - a role that had her implementing marketing and advertising activity in Australia that was decided upon by marketing executives overseas.
"I got to the point where I was looking for more of a challenge, and I didn't have a great deal of creative licence there, so began the Lime Soda Group on the side which I did for a couple of years before taking the plunge and working the business full time.
"I really did it because I wanted to effect change in my own way and work within a niche part of the fashion industry and wanted to be involved with really beautiful products."
So what are Benke's plans for the future - and does she have any fashion conscious youngsters of her own?
"Not yet, but I hope to soon," comes the response.
But there's a few more plans to put in place yet, Benke says.
"We're planning to open a store in another part of Sydney - maybe in Neutral Bay, and then one in Melbourne next year. And there will always be more brands coming from overseas."
Benke offers a word of advice for others considering their own business.
"You need to be aware of the risks, and the most important part if to work out how you're going to manage your cash flow.
"Although I must say, it's a real eye opener to see what you can achieve."