Early Life
Nigel Austin was born on September 24, 1970, in Geelong, Victoria, Australia. Growing up in Geelong, Austin's early exposure to the clothing industry stemmed from his father, Grant Austin, who ran the Austin Group, a clothing wholesale and import business. At the age of 8, Nigel began learning the ropes of the fashion industry, spending school holidays working within his father's business.
Rise to Success
Austin's entrepreneurial spirit emerged early. At 18, he began selling acid-washed denim jackets from the boot of his car at local markets in Geelong. His first outing at the market saw him sell one jacket for $30. After an initial setback, he negotiated a better deal with his father, the supplier, and the following week, the jackets sold out instantly. In 1991, he opened his first store in Geelong. He expanded to over fifty stores across Australia in the next fifteen years, and is now an international retailer. Nigel's cousin, Ashley Hardwick, joined a year later and holds a 10% stake in the Cotton On Group.
Key Business Strategies
Austin's business strategy involved a direct-sourcing model. This, combined with his family's connections, allowed him to create a competitive advantage by essentially cutting out the middleman wholesaler. The company has been agile in adapting to the fast-fashion industry, opening stores quickly and responding to consumer demands. The company also focuses on having a good relationship with the staff.
Philanthropy
Austin spearheads the Cotton On Foundation. The Cotton On Foundation was established in 2007, after the baptism of Austin's first son, following a donation to a healthcare center in Uganda. The Foundation supports healthcare and education in nations such as Uganda. As of 2017, the foundation had provided educational places for 5,800 children.