Formerly a tax lawyer, the founder of Melbourne boutique Fame Agenda is now following a sexier but no less "taxing" career path, writes Belinda Smart.
Monica Lim seems to embody the maxim that if you want to get something done, ask a busy person.
With a number of businesses already under her belt, among them retail label Fame Agenda, this entrepreneurial ex-lawyer is one hectic woman. And as if to prove the point, she admits that Fame Agenda was sparked by a lack of challenges during early motherhood - a life phase not ty"My fashion career basically started out of boredom when I was on maternity leave after having my first child. After five months of nappies and mother's group, I was ready for a change. Fashion is something that I have always loved. I had contemplated studying fashion but practicality had won out and I went to law school instead. In the end I decided that life was too short to have any regrets. I did not want to look back after 30 years of tax law and think: 'If only...'."
Reluctant to throw caution to the winds completely, Lim started out wholesaling handbags and accessories.
"For a while I went back to full-time work in tax whilst juggling my post-grad studies, the fashion business and my son. As you can imagine, it all got too much and I had to make a decision to either give up the fashion side of things or to give up my day job. Fashion won out."
Any initial doubts over this decision have most likely evaporated by now. Located in Melbourne Central shopping centre, the Fame Agenda store appears to be thriving. Stocking its self-named label as well as high recall brands such as Gail Sorronda, Marnie Skillings, Arnsdorf, Karen Walker, Gary Bigeni, Camilla and Marc, Konstantina Mittas, Karla Spetic, 18th Amendment and Skin and Threads, the store focuses on "great design which is fashion-forward and unique". It also tries to keep its prices attainable, an ethos largely enabled by the more affordable Fame Agenda label, and one that has attracted a broad sweep of customers, from young career women to the more famous example of singer Tina Arena, who recently plundered Fame Agenda for her tour wardrobe.
Unlike many boutique owners, Lim says Fame Agenda's edgy profile would be equally at home in a shopping centre or a strip.
"Both can work, it all depends. In terms of sales, frankly I don't see much difference between the two. At the end of the day it depends on the location of the shopping strip or centre and whether it is compatible to the product offering."
That said, being an independent retailer in a mega shopping centre does come with challenges, but Lim knows how to make it work for her.
"You can do a great fit out with any budget. That's one thing I have learnt. All you need is imagination and a great eye. If you don't have a good eye, don't venture into fashion."
Strong visuals can have a "tremendous impact" on sales, she says. "We try to keep our stores looking fresh all the time by introducing different merchandising elements. We don't rely on stock standard shop fittings or signage; we have an in-house creative designer to customise all our design requirements. Details count."
With her other fashion boutique Myl located in a laneway off Bourke Street Mall, the Melbourne Central location makes sense for Lim because it allows her easy access to her business interests.
"Also, no matter what people say about destination shopping, foot traffic helps tremendously. It is incredibly difficult to bring people out of their way. The city is great because of the high foot traffic and easy access to a large number of the population."
With a view to further penetrating said population, Lim is currently sweating to get the e-commerce capability on her website right. She has also just implemented a customer loyalty programm - whereby every $1000 spent by a customer within a one year period entitles them to a $100 gift voucher - and admits that the constant challenges of fashion retail aren't for the faint hearted.
"You'll never be bored running your own business. That's a good thing and a bad thing. One good thing is that I have flexibility to work when and where I want. So if I need to take the kids to swimming lessons in the middle of the day, I can. But on the flip side, I tend to have to work all the time, whenever I can. It can be pretty exhausting."
Yet despite a schedule that ought to make collapsing into bed a welcome relief, there's one thing that stops Lim sleeping.
"Great design. The sort of stuff that keeps you awake at night thinking that you have to have it."
It's a peculiar strain of insomnia, but one Lim hopes to induce in all her customers.