Slatkin & Co.'s Harry Slatkin on staying entrepreneurial while building billion-dollar brands
When Harry Slatkin and his wife, Laura, built Slatkin & Co., they disrupted the fragrance industry by making home fragrances accessible to a wider demographic. Slatkin sold Slatkin & Co. to Limited Brands, which owns Bath & Body Works, in 2005. But he kept his role as executive chairman and president of the company, and eventually took over the entire home fragrance division. After growing the business to $1.3 billion, Slatkin stepped down from his role in 2012. Today, the company does $2.3 billion in home fragrance sales, according to Slatkin. 'When I started, I was entrepreneurial at Limited Brands. [Lex Wexner] let me set up offices in New York, and I had my own team," Slatkin said on the latest episode of the Glossy Beauty Podcast. "As soon as we started hitting $400 million and $500 million [in sales], I was becoming a part of these big teams, and the entrepreneur and the excitement of it starts to leave. … It was no longer what I could call hands-on, for me. I decided, after getting to a billion dollars [in revenue], that it was time for me to step down." Slatkin consulted for Bath & Body Works for three years after selling his company, but at the same time, he pivoted into fashion through a partnership with Tommy Hilfiger. The duo went on to acquire apparel brand Belstaff in 2011. Slatkin is now focused on growing the company's distribution for its current offerings, with no plans to expand to more categories in the near future.