Lori Greiner- The “Queen Of QVC”
Lori Greiner is an American entrepreneur and inventor who has to date created over 400 products. She holds 115 U.S. and international patents.
She blasted her way into the retail world by creating the most popular jewelry and cosmetic organizer of all time and her inventions of retail products range from kitchen tools to travel bags just to mention a few.
Her TV personality on QVC combined with her prowess to market products to end consumers has earned her the title “Queen Of QVC”.
Today we’re going to see how far Lori Greiner has come in capitalizing on her ideas and transforming them into a multi-million dollar international brand .
Lori Greiner’s Bio
Name: Lori Greiner
Born: Chicago, Illinois
Nationality: American
Marital Status: Married
Credited For: Creating the most popular jewelry and cosmetic organizers of all time
Net Worth: $40M
Website: http://www.lorigreiner.com
Lori Greiner’s Early Life
Lori Greiner was brought up in the Near North Side community area of Chicago. Her
parents divorced when she was 8 years old.
While in college, she worked for the Chicago Tribune newsroom and later graduated with a degree in Communications. In the mid-90s, she wrote plays and sold jewelry during her free time.
As a jewelry lover, Lori Greiner felt that there was no convenient way for women to store their jewelry at home and that’s when she put her brains to work and came up with the idea of an earring organizer which could hold 100 pairs of earnings that would be neatly hung without any inconveniences.
When asked about her earring organizer, she said that:
I felt certain that an earring organizer, like my concept, was something everyone would love because everyone needed it, it was completely different than anything that had ever been offered, and it was a much better solution.
At about the same time she had drafted her idea for an earring organizer, Lori Greiner came across a bestselling book and after realizing it had the very same concept with what she was working on, she realized that she needed to take action immediately or risk someone else beating her in coming up with an earring organizer.
She therefore took a $300,000 bank loan and created a prototype for her earring organizer which received positive review from the numerous women she stopped in different neighborhoods around Chicago.
Lori Greiner later landed herself a lucrative retail contract with J.C. Penney stores and the Home Shopping Network which generated a million dollars in sales within a year.
Lori Greiner lives with her husband Dan in Chicago’s Gold Coast Historic District.
Lori Greiner Ventures Into Business
After more than 2,000 Earring Organizer units sold out within five minutes of appearing on
the Home Shopping Network (HSN) for the very first time, Lori Greiner knew she had found her true calling and here’s how she narrates the experience:
I remember I went out on the air and I slid the earring stand to the right and the left a few times. I don’t even think I said much and then I heard the hosts say, ‘Oh we sold out’
In 1996, Lori Greiner founded For Your Ease Only, a company which would help bring her products into market.
After 6 years in the business, her husband Dan who had supported her since she had made her first Earring Organizer prototype, retired from his career as corporate controller to work together with his wife.
The couple now works from a single partner desk at a sunny home office where workdays begin at 9 a.m. and often proceeds till midnight.
Today the company sells more than 100 retail products and a large part of their sales occur through QVC. Lori Greiner is currently the president and CEO of For Your Ease Only.
Lori’s cleverly-designed products which are enjoyed by both sexes span over a wide area and she is constantly adding new items. Her inspiration comes from a passion to bring happiness into people’s lives by making their everyday lives easier and this has seen celebrities like Oprah Winfrey, Heidi Klum, and Joan Rivers become some of her top fans.
Over the course of her career as an inventor and product retailer, Lori Greiner has designed over 400 products which have sold on QVC and other retailers around the U.S. and across Europe. Her collections are regularly featured in top magazines like Town & Country, O, The Oprah Magazine, Woman’s Day, Family Circle and InStyle. She has also been profiled in Financial Times and Success. Her Initial Silver Safekeeper was chosen
as one of Oprah’s favorite things.
In 2011, Lori Greiner was the guest speaker at the first United States Patent and Trademark Office Women’s Entrepreneurship Symposium.
In addition to creating more than 400 products, Lori Greiner also holds 115 U.S. and international patents.
Lori Greiner The Queen Of QVC
Lori Greiner has for the past 11 years played host to a popular monthly show on QVC called “Clever and Unique Creations by Lori Greiner”. It’s in this show that she has revealed her products to the world and thanks to her honest and upfront personality of “telling it like it is” (rather than just doing it for the money), she has gained a large following on the show and today she holds the title “Queen Of QVC”.
Every product she takes to QVC instantly becomes a hit and sells out in a matter of minutes. She has also helped to shape and elevate the brand of QVC.
Lori Greiner The Shark Tank Investor
Lori Greiner first made an appearance on the Shark Tank Show in season 3 where she
was present in only 4 episodes.
She is referred to as the warm blooded shark because of her nature to try and help upcoming entrepreneurs even when the other Shark Tank investors have already given up on them.
Shark Tank is an American Reality TV show produced by Mark Burnett and aired on ABC television.
The show basically involves entrepreneurs presenting their business ideas to a group of five investors better known as the “Sharks” who are willing to invest in start-ups that they see as promising.
If a particular business concept is good enough, the “Sharks” will even fight each other for a piece of the cake. The show first premiered on August 9th 2009.
Lori Greiner The Philanthropist
Lori Greiner has do date donated thousands of her products to charities like Habitat for Humanity, Howard Brown Health Center and the Salvation Army.Every year, her company (For Your Ease Only) donates a substantial amount of their profits to a variety of charities
Lori says her most gratifying moments occur when she’s able to help upcoming entrepreneurs achieve the same success she feels lucky enough to have enjoyed and she believes that what matters most in life is who a person is and what is in their soul.
Conclusion On Lori Greiner-The Queen Of QVC
Lori Greiner is one of the best examples of an all American success story and she credits part of it to being given a chance to showcase what she could really do. She also credits her husband Dan, who believed in her and supported her when nobody else did.
When it comes to making products that meet peoples needs, the queen of QVC says she has no intention of retiring any time soon. Her exact words are; “I love making products, so I’m going to continue making great products and making people happier and their lives easier. That is very gratifying to me.”
If you are lucky enough to be successful, you have a responsibility to give back-Lori Greiner
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