Buro 24/7’s Miroslava Duma discusses her empire with WWD
Buro 24/7 founder, Miroslava Duma has been making headlines lately, together with Nasiba Adilova, following the news that she has invested in the e-commerce service, RewardStyle and is putting her well-honed media acumen and extensive reach and contacts to work, to help the service become localised and specialist. (Read our full coverage of her involvement in the new development here.)
Amongst her busy schedule, which in the past few weeks has included a large scale launch in Ulan Bator of the newest member of the Buro 24/7 family, Buro 24/7 Mongolia, as well as attending Paris Haute Couture week and serving a judge on the panel for the 2015 'Who Is On Next' awards, Mira has taken the time to talk to WWD about the new venture. Discover the interview in full below.
You're building a global network of fashion lifestyle sites. When did you realise you wanted to start investing in other technology ventures?
We've been looking for additional ways of monetising our Buro 24/7 content in more than 10 countries now, since the day we started...and RewardStyle seems like the perfect company to partner with. They have amazing execution and an annualised growth rate of 102 percent since the company's inception.
How does investing in tech companies complement your existing business?
It goes side-by-side with Buro 24/7. It is virtually a digital media and marketing/consulting company today with more than 10 Web site versions and offices around the world and more in the works.
What kind of companies are you looking to invest in right now?
I always say that idea is 10 percent, while execution is 90 percent. That is why very often the team means much more than the idea. [The] latest projects that would be exciting for me are an e-commerce beauty company, an e-commerce lifestyle company and a messaging app.
Buro 24/7 has yet to enter the American market. Why?
We have been waiting for the right time to do this as the U.S. market is quite saturated and highly competitive.
What are some interesting things in tech that you've seen lately?
Definitely social-media marketing company Revfluence, and we love the concept of Birchbox.