The idea for Leeada was conceived over champagne at a café in Los Angeles.
Launched during summer 2021, cofounders Laurel Lee and Sarah Spada cofounded Leeada as a jewelry line with timeless, modern, and even heirloom pieces that are high quality but still sold at attainable price points.
This is not the women’s first collaboration. Both women have worked in the fashion industry for over 15 years, and together in jewelry for over six years. They started their first company, jewelry wholesale showroom Matdalee Studio, in 2017.
While starting their own jewelry brand was always a dream in the back of their minds, it wasn’t until the world slowed down in 2020 during the pandemic lockdown—and their work shifted from constant travel to working from home—did the little seed for Leeada begin to grow.
Lee and Spada recently shared more with Fortune about launching a business during a pandemic and the shifting nature of how jewelry is bought and sold.
The following interview has been condensed and lightly edited for clarity.
Fortune: Can you share a bit about your professional backgrounds and experience prior to launching Leeada?
Lee: Starting in LA about a decade ago, I began my career as a sales assistant to a very vivacious sales director for a sleepwear company. This was my first “real” job in the fashion industry and first time working in a sales role. My time there was very impactful. I learned the value of building long lasting relationships with clients, some of whom I still chat with today. From there I went on to work at a multi-line jewelry licensing company where I had the opportunity to sit in on design meetings with designers, give my own thoughts and feedback from the current market. It was there I saw the power of unifying design and sales seamlessly. It was also in those moments that my love for design and expression blossomed.
Spada: I’ve been in the fashion industry for over 15 years, and I always say I’ve zig-zagged my way through it. While the majority of my career has been in sales, I’ve also taken my break from sales and explored ecommerce, photography, social media, and even the editorial side of fashion. But I found my place in the industry when I started working in jewelry just over 6 years ago, and it was also where Laurel and I first met and worked together. Working in jewelry is definitely the right fit for me, and with Leeada, I get to use my experience from all aspects of my professional background.
While jewelry is inherently personal, it is a very crowded market. What inspired you to launch your own jewelry brand?
Lee: Exactly – jewelry IS personal. And the more personal your touches are, the more universal it becomes. Creating beautiful, special pieces with a focus on natural gemstones with amazing quality is something very important to us. We wanted to create a jewelry line that is contemporary, on-trend while also feeling timeless. Often “fashion” jewelry is thought of as “throw away” jewelry and that always bothered me. If you are buying a piece of jewelry, even if it falls under the label “fashion” jewelry it should be something you’ll want to hold on to for a while and can hold on to for a while. We saw a need in the market for a brand that embodied these details.
Spada: At the heart of it, I love story-telling and bringing stories to life, and that’s something we get to do with our brand and share with others. I’ve always loved jewelry and I can tell you the story behind every piece I own, how it makes me feel, and how or why I got it. And having a brand is something I’ve always dreamed about, to have the opportunity to design something special for others, and create a company, a community of people that I love to work with, that’s my inspiration.
After years in the industry, you started working on this business during the first pandemic lockdown. What motivated you to start Leeada when you did? What kind of hurdles did you face during this period? Were there benefits to doing this during lockdown?
Lee: Sarah and I always talked about doing our own jewelry line… at some point, but definitely did not think it would happen when it did. In the beginning of 2020 our studio was very busy. We had just flown back from a trade show in Paris and the following week the first lockdown happened. The studio then started to slow down quite a bit and the lockdowns kept being extended and extended…and extended… It’s hard to call it a benefit of lockdown, but we found that this was the first time we both had the chance and space to explore our creative ideas that we had always put on the back burner “for another day.” However, not only were we navigating through a global pandemic, I was also pregnant with my first child. I knew the future may be uncertain but I knew in my gut that we just needed to just go for it.
Spada: Honestly, we had the time for it. Our lives were constant travel to trade shows all over the world and meeting with accounts. All of our travel stopped during the lockdown, and it forced us to slow down too. We had the time to listen to that little voice that was always there, encouraging us to go for it. We tried once before, but the timing wasn’t right. And timing is everything. I think doing everything remotely was an interesting hurdle, and also navigating supply chain issues, and finding the right partners to work with who can guide us in areas that aren’t our strengths. It’s tough because it’s almost like dating, you have to find the right match in professional relationships as well, and that can take time. As far as benefits, I felt like I was able to focus more intensely during lockdown, which is why I think that it worked to start our brand then. We didn’t have as many outside distractions.
Jewelry is often considered one of the last sectors of retail in which consumers want to see the product in stores before purchasing. Being an online jewelry retailer, how do you see this behavior and preference shifting?
Lee: Honestly, I think the pandemic changed how people viewed shopping online in a really big way. Because retail stores were forced to close, the only option was to shop online. The lockdown compelled a lot of businesses to focus on creating an online presence quickly. Now more than ever customers are more confident making purchases online, even jewelry. Physical stores are still vital for the overall customer shopping experience. In store you can view the small details of a piece, try it on, and walk out wearing your new favorite design. There’s something romantic in the immediacy of that. But post pandemic having an online presence is a must.
Spada: I think customers are becoming savvier about their purchases and wanting to get behind the brands they buy. And I think they are loyal to their local retailers, and want to support them and the brands that they bring in. We’re seeing people wanting to have more jewelry in store to provide that full outfit styling for their customers. And jewelry is an easy add-on, that can truly transform an outfit, to give it that something special that makes it unique to the wearer. Oftentimes, stores only bring in certain styles, and if a customer sees the quality of our brand in store, it can drive them to our website to see more pieces that we offer. I think that Leeada being available in retailers is important to growing our online sales.
What has been and/or will continue to make consumers feel comfortable buying jewelry online?
Lee: Social media has changed everything when it comes to customers feeling comfortable shopping online, even brands they’ve never heard of before. Jewelry has always been something that people would want to see in person before purchasing but these platforms have really helped new or unknown brands get recognized. Having a user-friendly, online store with amazing customer service for any brand is key. For jewelry specifically clear images, life-style images and detailed information about each style will help the customer make a purchase.
Spada: I think people are getting super comfortable with buying jewelry online because of social media, and being able to communicate directly with the brand. I think having that online interaction with a brand makes customers feel more comfortable to try out new brands, I’ve chatted with many brands online before pulling the trigger on a purchase, it’s like getting a second opinion from a friend. And good branding and high-quality product and lifestyle images can seal the deal with online purchases too.
Looking forward in five years, how do you want to grow Leeada?
Lee: I would love to see Leeada being available worldwide and a brand name that people will recognize. I can see us expanding our collections, introducing new materials and collaborating with other brands. It’s important to us to listen to what customers have to say and not be afraid to take chances.
Spada: I’m a dreamer at heart, and I like to think that the possibilities are endless, and even though I am also a planner, it’s tough to really know how the brand will grow. We have to listen to our customers and give them what they’re looking for from Leeada. I think Leeada’s going to surprise us. I see the brand being available in retailers worldwide, and collaborating with some amazingly talented companies.
Are you looking to add new kinds of pieces, more designers, expand to more markets?
Lee: We are always brainstorming and discussing what we want to create next. Whether it’s a specific style, silhouette, or concept. We are absolutely wanting to expand into new and different markets while continuing to grow our current relationships. Leeada is constantly evolving while holding on to the brand’s core values.
Spada: Absolutely. We love jewelry, and we love gemstones, and we love creating beautiful styles. We definitely want to expand to different markets and build new relationships.
This is an installment of Startup Year One, a special series of interviews with founders about the major lessons they have learned in the immediate aftermath of their businesses’ first year of operation.