Canadian fashion mogul Joe Mimran, most commonly known for his ubiquitous Joe Fresh label, is gearing up for his television debut.
Mimran, an entrepreneur who founded and built several successful retail brands in Canada, is joining the panel of financiers on the 10th season of CBC’s Dragons’ Den.
Coaching budding entrepreneurs should be a seamless transition for the man who is behind major Canadian labels such as Alfred Sung, Club Monaco (which was purchased by Ralph Lauren Corp. in 1999) and Pink Tartan (for which his wife, Kimberley Newport-Mimran, is lead designer).
Not to mention the Joe Fresh label he created for Loblaws in 2006, which, as of today, has 350 retail locations in Canada, four free-standing stores in the U.S. and a presence in 15 international markets.
But after stepping down as creative director of Joe Fresh earlier this year (he continues to act as the brand’s ambassador), Mimran set his sights on new opportunities.
“[CBC] had contacted me for a few years, but I was so tied up operating Joe Fresh that I didn’t have time to [commit] to the show,” says Mimran.
“When the opportunity came up when I stepped down [from Joe Fresh], I thought it was a perfect transition, and I finally took them up on their offer,” he says.
One of the main motivators for Mimran to appear on the show is his passion for “starting and building new businesses from scratch and really trying to make an art with a business.”
“I very much related to many of the people who came on the show and wanted to fulfill their dream through a business venture. So it really resonated with me from that perspective,” he says.
The filming of Dragons’ Den is an intensive four-week filming period that requires long hours and intense interaction with the CBC Television producers, the camera crew and, of course, the other dragons.
He jokingly likens this experience to “meeting all these people for the very first time and then going on a long canoe trip together.”
And luckily, Mimran says, he and his fellow dragons hit it off.
“Jim Treliving immediately reached out and invited me for lunch to give the rookie helpful tips. He is great to work with, such a gentleman,” he says of the show’s longest-running dragon.
From his experience with filming and being a part of Dragons’ Den — and without disclosing this season’s deals — Mimran has some sound advice to offer the audiences as well as new entrepreneurs.
When it comes to pitching a business, Mimran says, without hesitation, “The first thing is to know your numbers. When you come on the show, you have to have some understanding about valuation, what’s going on in the marketplace and be realistic.”
“And number two: that an idea is just an idea — no matter how good it is, a lot of it is in the execution. And it’s in the people themselves. So present credibly as an individual and understand what you’re trying to do and communicate it clearly.”
Mimran also says that his personality on the show is softer than say former dragon Kevin O’Leary who was known to be all about the money.
“The great thing about dragons is they each have their own personalities and they usually march to the beat of their own drummers,” he says.
“Having said that, my style is definitely more empathetic. Being an entrepreneur can be a humbling journey no matter how successful, and that is the lens I use.”
Although his retail businesses have gone international, Mimran and his family continue to call Toronto home.
Born in Morocco, Mimran came to Toronto with his family at age five and says the city was a new adventure for him.
“I think Toronto is a remarkable city,” he says.
Mimran currently lives in Forest Hill and loves what the area has to offer him and his family.
“I live five minutes from downtown, and yet I’m surrounded by many parks and a beautiful canopy of greenery.”
So what’s next for Mimran? He is still involved with Pink Tartan — working closely with his wife on her store in Toronto and growing the brand.
Staying close to the fashion industry is something that has been embedded within him from birth, growing up watching his mother who was a successful dressmaker in Toronto.
“She was forever on her sewing machine, and I am sure it was a big influence. Because she worked from home, I got to see what fabrics and styles she was working on,” he says of his childhood.
“My mother was one of the hardest-working people I ever knew; that has always stayed with me.”
Apart from fashion, Mimran has also entered the private equity field, co-founding Gibraltar & Company, an investment management firm that focuses on businesses in the digital space.
In a short span of a few months, Mimran’s career has undergone quite the transition, from passing off the reins at Joe Fresh to becoming a television personality.
Now that filming has wrapped on Dragons’ Den, he’s looking forward to enjoying himself just a bit. Of course, he still knows which fashion trends to look out for this fall.
“For women, oversized coats, wider pants and slouchy sweaters combined with a matching scarf,” says Mimran, offering his inside scoop.
