A “smart house” may sound like a thing of the future, but with enough money, anyone can have one. Eric Kim, a Korean American self-made millionaire, purchased his very own “smart house,” a house that is entirely controlled by a single remote. So just how did Eric Kim make his money? Eric Kim of Beverly Hills created the trendy and fashion forward brand Monarchy. In Kim’s earlier years, he worked at the mall for a mere $4.25 per hour. Now, Kim’s brand is sold in Saks Fifth Avenue and Nordstrom and his jeans are worn by the hottest celebrities including Usher and “American Idol” host, Ryan Seacrest. On August 5, 2009 at 10PM ET/PT, TV LAND PRIME premieres its highly anticipated original series “How’d You Get So Rich?” hosted by gossip diva Joan Rivers.
We had a chance to speak with Monarchy CEO Eric Kim. We wanted to know why he’s so successful. After speaking to him, he is clearly an out of the box thinker and not held to what the fashion industry says. His unorthodox ways are what keeps him and his Monarchy brand on the forefront of design and fashion. Monarchy focuses its time and energy on products as opposed to marketing like other fashion brands. To create innovative designs, he hires artists who aren’t even from the fashion industry like hairdressers and painters. One new hire (a painter) didn’t have enough money to move from Colorado to Los Angeles to work for Monarchy. So what does Eric Kim do, he buys 25 of the person’s paintings, so he has money to move to California. With that kind of resourcefulness, Eric continues to make waves in the industry. Inspired by brands like Diesel for its edginess and Ralph Lauren for its lifestyle brand, Eric has positioned the Monarchy collection as a premium brand with longevity in the competitive fashion industry. His hardwork has paid off. Monarchy was recently selected as one of the top 10 collections for Fall 2009 around the world by Fashion Press Wire. Other top bands on the list include Louis Vuitton and Michael Kors. (BTW – look for a revamped women’s line in the fall.) Check out some of the Asian American celebs sportin’ his gear.
So what does Eric Kim do for fun? He’s a big fan of extreme sports and speed coupled with design. In his collection of vehicles, you will see his Lamborghini, Porsche, Harley, and Ducati all customized by him. Everything from body kits, wheels and hoods all redesigned. (You can take a peek at his Lambo at Rencapo.com. It’s the car on the homepage.) That’s not the only thing he designs on his free time. His entire house including landscape, furniture, windows, and flooring all designed by him as well. (BTW – for the flooring in his home, he used high end kitchen counter tops. Definitely, out of the box thinking there.) Design runs in Eric Kim’s blood!
For his advice to aspiring Asian American entrepreneurs, he says don’t listen to your parents to be a doctor or a lawyer. Don’t cave into the parental pressure. Instead, do what you love. Go with what you love. That’s the advice he’ll be giving his newborn son. We wonder if design will be in his son’s blood too.
Update: you can see How’d You Get So Rich? with Monarchy CEO Eric Kim here.
Monarchy Collection – Fall 2009
