In the second part of our serialisation of Inspiring Women, Michelle Rosenberg’s collection of interviews with outstanding female entrepreneurs, we meet Debbie Moore, founder of dance brand Pineapple, and Vanessa Phillips, of online secretarial business Outsec
My idea of an exit plan,” says Debbie Moore, “is to drop dead in Studio 1 at the age of 90.” An appropriate riposte from a woman who surely ranks in any entrepreneurial hall of fame. She’s the first woman to be admitted to the floor of the Stock Exchange, runs the world’s best known dance studio and has made a fortune with a brand named after a prickly tropical fruit.
Founder and chairman of the Pineapple Dance Studios and Fashion company, 56-year-old Moore oversees 130 staff across 11 stores from her base in London’s Covent Garden. Turnover is currently £10m with a net profit of £1m. The first Pineapple studio opened in 1979. Its second, ‘Pineapple West’ in Baker Street, opened in 1981, followed by New York’s Broadway and London’s Kensington.
Dealing with public life
Two years later, Moore focused on expanding the brand into clothing design, which heralded the launch of the iconic Pineapple leg warmers and branded dancewear. To fund the expansion, she realised she needed a huge injection of cash, and took the bold step of floating Pineapple on the stock market, becoming the first woman to do so. “You can only go public if you’ve got three years of doubling your profits, which I managed to do,” she says.
In recognition of her achievements as an entrepreneur, Moore was awarded the Veuve Clicquot ‘Businesswoman of the Year’ Award in 1984. However, over the next few years, she grew unhappy with the direction the company was taking. She felt there was too much focus on profit at the expense of its entrepreneurial spirit. “You can’t work with people who only see the money. They’re very short-sighted,” she says. So, in 1988, she fought to buy her company back.
Licensing to grow
In 2000, the focus shifted to licensing and Pineapple secured its first big deal. “We are the leading brand in Debenhams, in children’s and ladieswear and are now launching the brand globally,” says Moore. The move has been a tremendous success, making Pineapple £50m last year. “You have to be careful who you choose as partners when you’re licensing,” advises Moore. “You can destroy your brand. But I thought what they were doing with the profile of their stores and brand fitted with us. They’re young girls who shop in our shops – no one ever wants anything bigger than a size 12. Debenhams gave me the opportunity to go up to size 20.”
Moore still loves what she does, but admits it’s not easy being in the clothing business. “You’re at the mercy of suppliers and it’s getting harder because of the likes of Primark and Hennes, which command huge quantities. Designing your own and getting it made is far more difficult than it used to be,” she says.
Despite these problems, the brand she established over two decades ago shows no signs of diminishing. “The studios are still the biggest dance centre in the world,” says Moore. “I still design the clothes and my office is behind the shop. I’m 25/8 now. They used to call it 24/7. I am very hands-on!” she laughs.