Universal Standard with Alex Waldman
Universal Standard with Alex Waldman
As an entrepreneur, I’m always fascinated by other entrepreneurs’ journeys, what led them to create a business, and how they handle the twists and turns that the business throws at them. Joining me today is Alex Waldman, co-founder and CEO of the size inclusive fashion brand Universal Standard. She is here to talk about how her company is revolutionizing the way we think about size in fashion, how the pandemic has impacted her business, and where her business is going next. I’ve been watching her company grow from the sidelines and I’m excited to speak to her directly.
What are we drinking?
Alex - Straight Vodka Martini
Shannon - Gin and Tonic
Podcast Notes
Alex always wanted for this business to exist in the world, but she never thought she would be part of creating it. There has always been a constant, low grade pain of not being able to find clothes that look like her peer group.
It was all about meeting her business partner, Polina, who could put the business together. Between the two of them they figured it out.
They both happened to move to New York a couple of months apart, and former colleagues connected them. Polina reached out through LinkedIn and asked Alex to go for a drink. There was something that was binding and they became friends.
When Alex told Polina her idea, Polina couldn’t believe there was such a large hole in the world. Alex brought her to the sad little plus-sized department at Bloomingdales and Polina was shocked. She didn’t realize that finding plus-sized clothing was a problem.
Most people don’t know there is a problem, but it affects 70% of American women, 150 million women. There is an ingrained prejudice against bodies that look different than those in magazines.
Shannon went from a size 8 to a size 14 after she had her son, and she had difficulties finding clothes that looked good and felt good. She didn’t want to cross over to size 16, because she knew she wouldn’t be able to find clothes.
It has been drilled into us that having a bigger body is an anomaly, something to be feared, and something to escape from. Women with bigger bodies make less money at work and are often outsiders in a very white noise sort of way.
Alex wanted to integrate the vast majority of women into the mainstream of dressing, regardless of size. Universal Standard offers sizing from 00 to 40, which is the biggest commercial size range in the world.
Universal Sizing has a very different way of sizes. They wanted to remove vanity sizing. They went on statistics of women’s sizes in the U.S. We all know a size 8 is not a medium and a size 12 is not a large. Size medium in the U.S. is a size 18 to size 20, and this is what Universal Standard calls a medium.
Alex was a journalist and wrote about fashion, so she knew what she was talking about in terms of the industry. Polina was a finance professional, who worked in banking, mergers and acquisitions, and various aspects of the industry. She lived all across Africa for years, in various countries, specializing in agriculture, real estate, and commodities.
Alex lives in a big body, so she knew the disparaging difference of what was available to women like herself. She also knew she didn’t want to be ostracized and put into a specialty group. She wanted the same thing that was available to Polina.
In order to build what they wanted to build, they knew they would need to break some things first.
Alex learned that ignorance is a necessity, because if you knew how hard it would be, you probably wouldn’t do it. If you really understood the industry, you would probably repeat the same mistakes of the industry.
Alex knows what she always wanted and she understood fashion. They started with an eight-piece capsule that featured all of the things Alex wanted in her closet, but couldn’t seem to find, in great fabrics.
It was a big risk, because Alex and Polina both put their entire savings into the company, $150,000 each, and neither of them were working at the time. They started with size 10 to size 28, because they needed to do this gradually.
They wanted to make something that was worth buying out of desire, not out of default. They immediately started manufacturing across the world and they winged it.
They ended up getting two samples they thought were good and they had the eight pieces manufactured across 3,000 pieces altogether. They sold out in six days, after Refinery29 found them and wrote this article.
They realized early on that as you are selling, you should be making. After they sold out, they needed to wait six months to get their next shipment. It was a learning curve for them and their manufacturers. The manufacturers were not used to making clothes that large.
They knew they had a market and they wanted to create a proper brand. Scott Birnbaum of Red Sea Ventures was one of the first believers in their brand. He looked at what they were trying to make, he listened, and he asked all of the hard questions. This allowed them to realize what they needed to know and think about.
They started with Scott and then they got an incredible group of investors together. One of their biggest problems was that they didn’t know anyone in the industry or with experience.
The group wasn’t just professional investors, but they were entrepreneurs themselves who built their own successful businesses and they advised them. Their confidence pushed Alex and Polina forward.
The company went from 8 pieces to around 350 pieces, from athleisure to work clothes, and they have five store showrooms. The showrooms are beautiful apartments in various cities, where you make an appointment with a stylist who is on your side.
You can have coffee or champagne and take time to work with a stylist. They aren’t trying to make a sale, they are trying to get you to a point where you are happy with the experience and with what you buy. They are looking out for you.
They had issues with suppliers in China, Peru, and Europe, because of COVID-19, and they had to adapt. They are running low on certain pieces, but they are going to make up for it shortly.
They had to close their showrooms, because people were not interacting physically within the same space. The showrooms are at a standstill right now. For those who interact only online, there has been no difference.
A lot more is demanded of a lot fewer employees. The idea that you need to somehow survive this is the thing that is driving them now. They are all on the ground doing three peoples’ jobs.
We all deserve to look the way we want to look or feel the way we want to feel. Alex and Polina wrote a children’s book and it was very well received. It is called, What Would Fashion Look Like If It Included All Of Us?.
They are headed to a place where gender is not going to play a very significant role in their clothing. Alex and Polina are talking about creating gender-free clothes. Everything is changing and the younger generation will have a different idea of fashion and expression in the future. Clothes don’t have a gender, they are just fabric sewn into a shape.
Alex’s favorite items are their jeans and their lounge and leisure clothes.
One thing they wanted to catch on in the industry is photographing their clothes on every sized body, so you don’t have to imagine what a size 8 will look like on a size 28 body.
Another is the idea of fit liberty. Customers can buy the clothes in the size they are now and if they gain weight, lose weight, or their weight redistributes, they can send it back and Universal Standard will replace it with a different size for free.
The returned clothing is laundered and donated to two charities that help women get back into the workforce.
Alex has always wanted Universal Standard to be inclusive to everybody and not necessarily gender assigned. She wants to be the brand that gives people access.
Takeaway: My biggest takeaway is that being an entrepreneur requires a lot of problem solving skills — oftentimes for problems you may not foresee. The best way you can set you and your company up for success is reaching out to, and seeking guidance from, as many subject matter experts as possible. I’ve personally had dozens of advisors along the way of building The Gym, and I’m grateful for every single pearl of wisdom I’ve received that’s help guide my business down the right path.
Random Three Questions
What have you been binge watching that you would recommend?
When was the last time you cried?
If this was your last meal on earth, what would it be?
Connect with Alex
Website: universalstandard.com
Social Media: @universalstandard
Universal Standard has a special offer for Martinis and Your Money listeners!
"Book a free Virtual Styling Appointment at Universal Standard and receive 20% off any purchases made during the month of August."
About our appointments: You’ll get free direct access to our expert Virtual Stylist Kate via FaceTime, GoogleHangouts, or a phone call. Think of her as your on-call fit and style guru, your personal closet concierge, or just call her your new shopping BFF. Whether you have fit questions, need style advice, or are wondering how to maximize your wardrobe... our Virtual Stylist is here to help.
Click here to reserve your appointment: https://www.universalstandard.com/pages/virtual-styling
After your appointment, Kate will send you your personalized style lookbook along with your unique code for 20% off
If you have any topics you would like me to cover on this podcast, or If you’d like to get in the financially naked hot seat, I encourage you to email me to Shannon@fingyms.com, or join the private Martinis and Your Money Facebook group, and let me know what you want to hear.
If you’d like to talk to my team at the Financial Gym about helping you manage your finances, especially if you have a business or you’re thinking about starting one, we’re offering a number of great deals now. Our team is more than happy to help you make your plan and take money stress of your plate. So head over to, or send friends to, financialgym.com to get set up today.