Every girl already has a myriad case scenarios about the prom dress she’ll wear - short ones, long ones, midis - you name it. However, not everyone can afford to purchase a quality Prom Queen gown due to the sky-high prices the industry poses.

Debra Cannon and daughter Colleen Winter were fully aware of the industry issue, and so decided to open a small vintage boutique where everyone stands the chance of looking like a million dollars.

LuLu's Fashion Lounge became a prominent boutique in the 90s - and it’s as vintage as elegant attire gets. But, as soon as technology introduced online commerce, Debra and Colleen decided to take the chance and land their magnificent products online, for the world to buy.

Following their shift from brick-and-mortar to the dot-com era, here’s the story of a mother and a daughter whose ups and downs led them to become true pundits within the fashion-with-purpose industry!

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On Motherhood and Childhood

Debra Cannon was born in the roaring 1950s. Unlike getting addicted to the internet from a young age, children of this retro generation were drawn to reading books.

Debra had Colleen in her 20s. She knew her daughter was more than just her princess. Colleen was always more curious about the world and instead of playing with toys, she used to play as a businesswoman - handling difficult situations on her own.

When Colleen first started school, she became one of the brightest students in her class. It was no secret she was a born genius and that a bright future lay ahead of her.

When high school came knocking on her door, Colleen thrived on socializing with others whilst also strictly minding her studies and classes. And that’s exactly what she did, she scored all straight A’s - just like her mom.

Going to College in 1968

When college came into question, Debra decided to enroll at Chico State to study literature at Oregon School of Library Science, which she did in 1968.

For many, the college-era counts pivotal years that can determine one’s career and existential questions. And, so it was the case for Debra. She graduated from college in 1977, as the best in her class. It was enough to get her the first job as a librarian.

Fast-forward a few years, Debra gave birth to Colleen. Being a mom was the best and hardest job she had to do - but, she never complained about any difficulty ahead of her, just tackled every challenge as it came, and pushed forward.

Like Mother - Like Daughter

It is no news that many children follow the footsteps of their parents when it comes to choosing an educational path.

However, that wasn't the case for Colleen.

Instead of enrolling at the University of Oregon, as her mom did, Colleen opted for San Diego State University in California.

But, she was just as ambitious and business-oriented as her mother. Once she obtained her degree, she and Debra decided to found a small business together, and none other than in the fashion industry.

Chico’s Vintage Store

The story of Lulu's Fashion originates from a small boutique store in Chico State that appeared for the first time in 1996.

In essence, it was a small business of a mother and daughter. Colleen was in her early 20s at the time, so she naturally followed fashion trends up close and eagerly. Working at her mother's boutique felt natural to Colleen as she had the exact tools to sell more clothes up her sleeve. Somehow, Colleen was excellent in trend forecasting, which made her mother’s boutique a hit. In no time, they were selling an array of vintage clothes to close friends, acquaintances, and everyone with a vintage outfit preference.

Debra was happy with the earnings as she earned both enough to cover for her daughter's schooling - and lead her business steadily. And, so it was for the next 12 years.

As LuLu's fashion became more attractive, showcasing refined vintage pieces, their brand collaborated with other prominent fashion names - and it worked like a charm in boosting their reputation. But that was only the beginning of much greater success.

Going Viral

After having a regular brick-and-mortar store for 12 years, Debra decided to shift her business plans and use the technology card. And, soon enough, Lulu's fashion became a virtual store selling vintage clothes targeting girls in their 20s.

At the time, digital marketing wasn't as developed as it is today. Still, Debra was determined to give her customers what they've wanted - when they've wanted.

To accomplish utter customer satisfaction - Debra had to create the exact clothing pieces and accessories that her customers wanted to buy. The only way to do this was through SEO, and so, Colleen dedicated her time to mastering the use and benefits of proper SEO marketing. She also decided to enforce an SEO army, and so she hired professionals who could rank her business higher so it targets a specific audience.

This audience then brought her online business to absolute success.

Even so, Colleen’s meticulous SEO strategy wasn’t what drew investors' attention, but more so, the data-driven testing process that successfully keeps up with the trends.

Raising the Hand

Knowing what their customers wanted - kudos to the SEO - Debra and Colleen increased their business stakes by adding around 50 more vintage clothes and accessories - and that’s daily. Afterward, they monitored how their customers responded to their new item batches - and navigated or adjusted their business model around their buyers’ behavior.

They made a unique business move and approach to retail through working around the customer's wants and demands, which then helped them reduce unwanted or disposable storage of goods. Not to mention, once the clothing and accessory goodies reached social media influencers, Lulu’s Fashion Lounge attracted even greater popularity and product demand.

This made them far more noticeable in investors' eyes, and in 2014, their first funding round took place, initiated by Abacus Finance Group, Monroe Capital.

Raising Big Hands

2014 was a big year for Lulu's because, apart from the initial investment they acquired, they also landed another one, this time by H.I.G. Growth Partners. The weight of this investment remains unknown, though it was quite enough to land their company on a whole other level.

Confronting Pandemic

When the COVID-19 pandemic broke, every business suffered from it in its own way. LuLu’s main market competitors - Nasty Gal, Cache, and Wish - had already witnessed the damage done. And likewise, Lulu's Fashion Lounge wasn't immune to the pandemic effects.

Over time, the business was hit budget-wise, and soon, it became impossible for the brand to handle its daily duties. They had insufficient means to continue running their business as before, so Colleen and Debra had to come up with a plan on how to stop Lulu from bleeding and mend its financial wounds.

Essentially, they had to figure a way for sustainable remote working, and transfer their offices straight from their home. Despite their eagerness, the ultimate option Lulu’s was left with was to take a breather and wait out the storm, until the time for a cardinal restart arrived.

Going IPO

Business- and growth-wise, Lulu’s was just getting warmed up. Their next business move was even more monumental than anything they’ve achieved before - public offering.

On November 11th, 2021, Lulu's officially opened their stocks. Their IPO debut wasn't as successful as expected, and that's not a secret, but after a day or two, things slowly started getting on the right track.

Ultimately, Lulu's acquired $120 million on IPOs. As the IPO triumph was seen as a tremendous success, Colleen announced that she will retreat from her position and leave the business in her mother’s hands.

Lulu's Fashion Today

With 2.5 million loyal customers and 7.5 million social media allegiance, Lulu’s future as the leading vintage clothing brand worldwide is bright and promising.

Currently, the company keeps its HQ in Chico, California, and counts over 750 employees total. With the utmost goal of becoming the world's leading vintage brand, Lulu’s aims higher than before and announced it is planning a Nasdaq IPO worth a whopping $100 million raise.

The high ranks is where Lulu’s sees a thriving future. What once began with a mother-daughter duo has now turned into a multi-million dollar company whose primal mission remains to keep vintage fashion alive, impress with quality of design, and offer exclusive styles that keep every customer’s fashion flavor in mind!