Breeana Smith has confirmed that her five-year-old pleat-heavy brand L’idee Woman has grown by 750 per cent since its first year of operation in 2019 – pre-pandemic.
That’s a reasonable score for a fashion start-up, especially considering what the last five years entailed, and the fact that most businesses fail in the first two years. According to Equidam – a Netherlands-based start-up valuation platform – the average company across all sectors generally forecasts a growth rate of 268 per cent in revenues for their first year, 144 per cent for the second, and 71 per cent for the third.
"This means that a company that grossed $500,000 Year to Date (YTD) will forecast roughly $1,840,600 for the next year, $4,493,400 for the following and $7,663,700 for the third," Equidam's website reports.
"Growth rates for start-ups however vary widely by industry, country, and stage of development of the venture. Companies that start from scratch will of course find it easier to grow their revenues at higher percentage rates. One of the reasons for it is that a smaller number is easier to grow compared to a large one."
Some of the expected key external drivers of the Australian-born, global brand’s 750 per cent growth include the overall surge in evening wear post-COVID, as events returned to normal, as well as the local surge in e-commerce. Between December 2019 and December 2024, online monthly retail sales in Australia have doubled – from $2.3 billion five years ago, to a peak of $5.3 billion at the end of 2024 – according to the Australian Bureau of Statistics.
But Smith also highlights her brand’s 'quick-to-market' operations, short production lead times and close management of replenishment business with key retail partners – including its top retailer The Iconic.
L’idee Woman runs an in-house production line in Bali, controlling product growth and quality through manufacturing by internal staff’s own hands. This is made all the more impressive considering Smith and her fellow co-founder and head designer Lulia Levdokymenko manage the business on opposite sides of the world.
Since launching the brand, Australian-born Smith has moved to Italy, while Levdokymenko resides in Bali to run production.
“Italy is for inspiration and creation, and Bali, where our designer, Iulia Ievdokymenko is based, is where all the magic comes to life,” Smith says. “Both are essential places for different reasons and we both balance our time in each to ensure we’re across all facets of the business as best possible.
“One can’t function without the other, we need the space and time to create and inspire, which Italy brings, and the proximity to the manufacturing and sourcing is necessary on every level in Bali.”
Much of L'idee Woman's product range sits between $300 and $500. The brand also covers bridalwear, which can easily get more expensive.
Smith adds that she has lived overseas for as long as she’s had the brand, “so it’s like second nature to run things remotely.”
“WhatsApp is an essential tool in navigating communication, it’s much more ‘live chat’ based and emulates a communal office feel but digitally,” she says. “We also have incredible staff; high efficiency and autonomy are essential skills I look for when running a team remotely.”
But there is one other key driver for the brand’s growth, which is its global reach. While selling in Australia online and through wholesale, L’idee Woman’s US market is actually its largest revenue source, which is then followed by the Middle East according to Smith.
“The initial platform to the US market was through Revolve, who we partnered with during Covid-19,” Smith says. “We actually had to send samples to the buyers house which seems crazy now reflecting back on this.
“We have a strong partnership with Revolve, and have over 100 product SKUs in their business at any given time.”
Meanwhile, the Middle East growth was achieved through a showroom in London, which Smith says was a great way to enter the market.
“The Middle Eastern woman loves the pleating concept and we are always striving to enhance our experience within this market,” Smith says.
From there, the plan is to stretch L’idee Woman’s arms across Europe, with Smith revealing that the brand is making “exciting ground” in Italy, where she lives.
“We will continue to lead in the pleat category, however, will continue to explore non pleating options which have recently gained interest,” she says.