Business owners often start their own ventures to fulfill a higher purpose in life. That was the case for the founder of jewelry brand Lolovivi. Learn about her unique journey and the significance of the brand in this week’s Small Business Spotlight.
What the Business Does
Offers unique fine jewelry.
Curator and CEO Nancy Street told Small Business Trends, “Our jewelry is casually elegant, timelessly modern and intentionally less gendered. Lolovivi jewelry is artisan crafted and made with 18k Gold, 14K Gold, Sterling Silver, and high quality Black and White Diamonds, Black and White Sapphires and other Gemstones.”
Business Niche
Offering jewelry that signifies love.
Street says, “We’re known for our signature motif, two artistically rendered, intertwined hearts that represent the love we feel for the people in our lives and our hope for a more loving and inclusive world. The motif is a visual representation of our tagline- “United in Love.”
How the Business Got Started
To fulfill a higher purpose.
Street explains, “After a long career in financial services and consulting, I realized that what I really wanted to do was to make beautiful things, and make the world a better place. I was fortunate enough to meet Ron Rosen, an incredibly talented artist and jewelry designer and we realized that we had the same fashion and design aesthetic, as well as a worldview that centered on inclusion and acceptance. And so, Lolovivi was born.
“I also have lots of experience building things– everything from financial services products to an organic sports drink to AR apps – it’s what I love to do. Lolovivi is being built to be a significant brand. We’re an early stage company but we operate and make decisions like the big brand we intend to become.”
Biggest Win
Finding the right factory.
Street adds, “??Our biggest win was creating a true partnership with the factory that produces our jewelry. They believe so strongly in what we are doing that they have become an integral part of our business.. It’s been a game changer in terms of ensuring an incredible level of quality for our products, and also our ability to to create new products for our customers. They also operate ethically and treat our artisans well which is essential for us.”
Biggest Risk
Pivoting from a different business.
Street says, “Ron and I started working together on another product line literally right before Covid and that was really tough. After surviving the pandemic (which was a feat in and of itself), we decided to pivot to Lolovivi. It was very scary but our passion for the aesthetic and the mission carried us through. We only survived because both Ron and I have a “make it work no matter what” attitude and because we have a small but mighty team that was also determined to make the company a success!”
Lesson Learned
Don’t be afraid to make changes.
Street explains, “The one thing I would have done differently is to have made the pivot sooner. Sometimes being hard headed and determined causes you to make bad decisions. You hang in there too long. The old business was based on someone else’s concept, was not meeting the goals we had for ourselves and we should have exited sooner.”
How They’d Spend an Extra $100,000
Finding new advertising strategies.
Street adds, “If we had an extra $100k we would test advertising our products more aggressively and in different channels. As a start up the hardest thing is to get visibility. Online advertising and social media aren’t as effective as they used to be so we are working hard to find other, creative ways to tell consumers about Lolovivi.”
Fun Fact
Family and friends are part of the business.
Street says, “Many of the models you see on our website are relatives or close friends of ours. We love the realness this gives our website and our social media, and that we can show how our jewelry looks great on everyone.”
Favorite Quote
“Have the courage to follow your heart and intuition.” – Steve Jobs.
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Image: Lolovivi, Nancy Street
