She has 3 secrets to doubling the revenue of your mom’s business

When Katherine Morrissey was president of the cashmere-focused women’s clothing brand white and warrenStepping into her current role, she had a deep sense of her priorities – an ethos she credits to her mother, company founder and CEO, Susan White Morrissey.

“From the day I started at White & Warren, I saw firsthand how much my mother paid attention to everything,” Morrissey explains. entrepreneur“She didn’t miss a thing when it came to quality – whether it was the tension of a sweater, uneven linking, blank spaces on a line sheet or data that wasn’t adding up. I quickly learned to adopt the same mentality.”

Suzanne White Morrissey and Barbara Warren co-founded their eponymous New York City-based fashion brand in 1997 with a clear goal: to make cashmere more accessible at a time when the fabric did not enjoy the popularity it does now.

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“I’ve always had a heavy hand on the creative side.”

Although Katherine Morrissey didn’t always expect to work at her mother’s company, she grew up surrounded by the fashion industry (her father was an executive vice president at Macy’s) and developed a passion for it.

She began her career as an assistant merchandiser at Calvin Klein and became an associate designer there. Then, in 2011, following the sudden demise of her father, she joined White & Warren as director of merchandising.

“I was leading merchandising and eventually overseeing design,” Morrissey recalls. “Even today, it’s still a part of what I’m doing – I’ve always had a heavy hand on the creative side.”

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Morrissey has a BFA in illustration, and she credits her penchant for art as giving her an advantage in an industry defined by the visual. She says her creative sensibility allows her to bridge the gap between what a business needs and what it’s trying to communicate—and help the design team execute that vision.

White & Warren relied on a wholesale-dominant business model for decades, and it served the company well during that time. The brand claims partnerships with nearly 600 retailers worldwide and has sold more than 300,000 units of its beloved cashmere travel wrap, which requires 51 steps to prepare and costs $385.

Yet, like many established brands, White & Warren needs to adapt to the changing retail landscape and the rise of direct-to-consumer (DTC) to maintain its growth trajectory.

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When Morrissey became chair of White & Warren in 2018, she committed to a rebrand that would lead the decades-old company into its next era.

Formerly known as “White + Warren”, the brand replaced the plus with an ampersand and underwent a website and product refresh. Now, Morrissey’s biggest goal is to build the company with long-term growth and future security in mind, she says.

“Our rebrand laid the foundation.”

White & Warren plans to double its revenue over the next three to four years, with most of the growth coming from its direct-to-consumer channel. “Our rebrand laid the groundwork,” says Morrissey. “Now it’s about deepening our customer relationships and investing in storytelling and product innovation that inspires lasting loyalty.”

Morrissey says several key steps have helped White & Warren make the most of its rebrand and move closer to its ambitious revenue targets.

1. Enjoy financial autonomy

When Morrissey’s mother launched White & Warren, she had the backing of a silent family fund investor who helped her get the business off the ground, but was not involved in daily operations.

Suzanne White Morrissey bought the company outright in 2015 – and it was a game-changer.

“(This) gave us complete autonomy to decide about the future of the brand,” says his daughter. “That freedom allowed us to invest where we needed to, chart our own path and lay the foundation for growth.”

Morrissey acknowledges that growing a business always comes with some level of risk. For example, as White & Warren shifted from primarily wholesale to ecommerce, the company had to purchase more inventory that could go unsold.

Morrissey says that’s when having full control over a business’s money and being able to spend marketing dollars strategically becomes even more valuable: It’s important to keep the bottom line healthy to support next year’s operations.

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2. Tell the right story to the right customers

Morrissey says that as White & Warren enters its next phase, it continues to establish itself as an authority in the women’s knitwear sector – “the New York cashmere brand”, with timeless designs and trusted quality.

This has always been the defining story of the brand, but the way it was told, and who was listening to it, had to change. White & Warren needed to expand its appeal and reach a new generation of women: older millennials.

In the past, White & Warren relied heavily on editorial and eCommerce content, but in the past year, the brand has increasingly adopted user-generated content (UGC) and employee-generated content (EGC) on social media.

“There was a complete change in consumer behavior, really a reaction to that,” Morrissey explains, “and (the customer) found out what she wanted.” We realized she wanted to be able to connect more with the brand and see real people wearing it.

Morrissey says the brand plans to continue its “fresh lens” of storytelling for the next generation as it builds out its community-driven channels.

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3. Don’t be afraid to evolve – then do it again

White & Warren is a heritage brand with almost 30 years of history, but that doesn’t mean it should remain stagnant, Morrissey insists.

“We have to always evolve to stay relevant and meet the consumer where he or she is today,” Morrissey says. “Not to continue to evolve is to risk losing relevance.”

That’s why the brand has launched a strategic product expansion to serve existing customers and attract new customers. White & Warren recently launched its knitted outerwear collection and has a seasonal capsule collection, “a casual, sporty take on elevated athleisure,” set for release in January.

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White & Warren also plans to relaunch its men’s collection in the autumn, and hopes to make it a permanent feature by thinking of it as a service to the brand’s predominantly female customers. What is she reaching for? Is she throwing men’s sweaters in the cart while shopping for herself?

However, Morrissey says the company is not spending on marketing the men’s collection right now.

“We’re not going crazy with category expansion,” Morrissey says, “but how can we create a little bit more of White & Warren’s world, outside of the sweater and accessory space? Knit outerwear was our first test of this – and it’s doing quite well.”

“The people who stand out are the ones who go above and beyond their job description.”

As Morrissey continues to expand White & Warren and meet modern consumers where they are, he has benefited from leading with his mother, who is still very much involved in the business today, and keeping her lessons in mind.

One important thing she has taken to heart is to lead by asking questions, guiding others to make their own decisions rather than just giving them answers.

According to Morrissey, developing an open-minded, curious mindset is invaluable to those looking to start and advance a career in the fashion industry.

“The best thing you can do in the beginning is to be curious and learn from every experience: ask questions, pay attention to details, and don’t be afraid to roll up your sleeves,” says Morrissey. “The people who stand out are those who go beyond their job description and show they are invested in learning.”

This article is part of our ongoing Women Entrepreneur® series that highlights the stories, challenges and triumphs of running a business as a woman.

When Katherine Morrissey was president of the cashmere-focused women’s clothing brand white and warrenStepping into her current role, she had a deep sense of her priorities – an ethos she credits to her mother, company founder and CEO, Susan White Morrissey.

“From the day I started at White & Warren, I saw firsthand how much my mother paid attention to everything,” Morrissey explains. entrepreneur“She didn’t miss a thing when it came to quality – whether it was the tension of a sweater, uneven linking, blank spaces on a line sheet or data that wasn’t adding up. I quickly learned to adopt the same mentality.”