Tech Entrepreneur Lauryn Vaughn Is Changing the Resale Fashion Game + MORE Jul 17th

My entire career has been about using technology to sell upscale consignment clothing. But my starting point was in traditional fashion: When I was a commerce student at the University of Calgary, I landed an internship with the designer Paul Hardy. That was my introduction to retail behind the scenes, like sourcing materials and marketing products.

While I was travelling abroad with Paul to show his collections, I fell in love with Paris. I moved there in 2009 when I graduated from university. I lived on savings because my French was never good enough for me to get a job. I didn’t want to compromise on style, so I got into buying vintage clothing. I still have a pair of ivory Chie Mihara pumps from my time there.

Vaughn in her Calgary showroom

After two years in Paris, I ran out of money and came home to Canada. My aunt was working at a consignment store in Calgary, which sparked an idea: I could bring consignment shopping to a wider market by taking it online. I started to build my first company, an online luxury consignment retailer, from my basement while I was working full-time at an insurance company…

How do you determine which companies to invest in when all market news is bad news and even good quality companies are experiencing significant price discounts? It’s a question savvy investors are asking as they watch market sell-offs and look to pick up a bargain. 

I’m sad to say there is no magic answer. It comes down to doing your homework and focusing on setting yourself up for the future. This is what will allow you to stay strong—and stay invested—in the face of all the challenges the world is facing right now. Even though markets are taking a hit, there is still no better alternative to being invested.

Ironically, while rising interest rates are a big reason so many people are pulling their money out of the markets, those same rates are not being applied to “safe” investments such as bonds, guaranteed investment certificates (GICs) and so-called “high-interest” savings accounts. These returns are still well below inflation, which is sitting at nearly 7% in Canada and more than 8% in the U…