Million Dollar Biz: The Great American Hanger Company
The fact that Devon Rifkin never attended college is just a tiny footnote in his success story. The fact that he has made millions selling hangers is slightly more unique.
But for Rifkin, defying the standards means nothing if his business isn’t successful–or if his team isn’t sharing in the success. Says Rifkin, “To me, people have made the biggest difference because they’re the face of the business.”
After high school, as his friends went off to attend Ivy Leagues, Rifkin moved to New York City and talked his way into a job as a stockbroker.
Three years later, his entrepreneurial ambitions got the best of him, and he moved back to his hometown of Miami to work at his dad’s store-fixture company.
The nuts and bolts of store fixtures didn’t fascinate him, but customers’ interest in clothes hangers–not only for retail but also for personal use–sparked his curiosity.
In 1999, Rifkin had found his new business idea., The Great American Hanger Company.
The company, which sells more than 400 kinds of hangers–from fabric to cedar to custom designs–on its website, has just launched the first-ever mail-order catalog for hangers.
And even with celebrity customers like Jerry Seinfeld and Jennifer Lopez, Rifkin hasn’t let it go to his head:
“Too many people get caught up in the business of the day, and they don’t pick their heads up and say, ‘This is what I want to build.’”
Photo by Great American Hanger Company.
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