Smith was presented by the Apparel Merchandising and Interior Design department on Tuesday as the 2015 Bill Blass Design Seminar lecturer at the Whittenberger Auditorium.
Smith spoke to students and teachers about the journey of Ugg’s success.
In 1978, a Californian surf magazine showcasing sheepskin boots fostered his inspiration for designing a ?collection to bring back home to Australia.
Today, Ugg is a billion-dollar company that sells its shoes in more than 130 countries around the world.
However, Smith said its success was not the ?smoothest ride.
Smith launched his business in California with his friend Doug Jensen, who drove the San Fernando Valley launching sales and made the company’s first relationships with surf shops and small stores to purchase their product.
“You can’t give birth to adults,” Smith said. “Every business, every sandwich shop, every religion, every sitcom on TV starts with somebody thinking the idea up, and then the first action is taken and that’s where the birth is given.”
Smith spoke about the journey of Ugg and its launch into the world of fashion.
He said people looking to start a business need to recognize they are going to start out small.
“The critical thing for entrepreneurs is ignorance,” he said. “Because if you knew every detail of what was ahead, 95 percent of you would never start.”
Like every business venture, Ugg experienced periods of success as well as times of hardship, Smith said.
After a few years selling on California beaches, Smith started pitching his product at large department stores and malls.
“I remember going to Nordstrom, they said ‘No, we don’t sell those, we sell shoes,’” he said. “Every retailer was the same.”
Smith said he realized he was not going to reach big retailers until he conquered the small boutiques.
“Sometimes your most disappointing disappointments become your greatest blessings,” he said. “If you put out good things, good things are going to come back.”
Smith gave students advice on how to launch a business and stay focused on their goals.
His book, “The Birth of a Brand,” on sale at the bookstore in the Indiana Memorial Union, shares the four lessons he gives entrepreneurs: Feast upon uncertainty, fatten on disappointment, enthuse over apparent defeat and invigorate in the presence of ?difficulties.
Following the lecture, Smith held a question and answer session for students. One student asked about the values and principles Smith set for the company.
Championing traits of friendliness and approachability, he valued good service with his investors and the stores that sold his product.
He said he would over-service them by replacing the shoes he thought would generate more sales, knowing if there was an abundance of products not selling in the summer, stores would not contact him for more in the following season.
“I didn’t set any principles except being myself,” he said.
