Young and ambitious, Romane Howsam is taking the reins in the world of luxury with Lymited, the brand new Luxury Marketplace that offers you the chance to buy and sell limited-edition and collectible luxuries. The Sybarite spoke to Romane on the success behind Lymited, her advice to the youth and what the future holds for the company.
Tell us a little bit about yourself. Where did your love for limited editions come from?
I’ve always been interested in starting a business and I’ve long been a fan of special, limited-edition pieces. My dad’s also an entrepreneur and avid collector – he’s particularly drawn to James Bond pieces, while I love collectors’ coffee-table books and vintage fashion in particular. So, I shaped the idea for Lymited around some of those things. As a young CEO, I am somewhat learning on the job, but I think the advantage is that I lean towards creativity, rather than relying on age-old conventions in terms of how things are done. Gen Z and Millennials are leading growth in the luxury and collectibles sector, so in a way, it’s great that I can offer a fresh perspective and speak directly to my peers as our audience grows.
Tell us about Lymited, the great team of experts that work with you and the success behind the company.
Lymited is a place where experience and tradition coexist with contemporary innovation. At the core of what we do is inclusivity. We want to appeal to the seasoned collector – who will immediately recognise what we have on the platform is special – as well as a more entry-level audience, allowing the next generation to build their portfolio and interest.
Our team of experts are the best in class. They are friendly, approachable, incredibly well connected and respected leaders in their fields. And they’re also tastemakers, bringing a defined curation and aesthetic to our collections.
I think the real game changer in terms of our USP is the tokenisation of high-value pieces, the Token Platform is set to open doors that would otherwise be shut. You’ll have to register to be the first in line for tokens – and watch this space for further developments coming soon!
How has Covid affected your businesses? What drives you to keep going when it’s really tough?
There was a pause in the industry in March 2020, business came to a complete halt. But what it allowed us to do was to re-strategise how we wanted to proceed, which has worked out for the best. Of course, lockdown has fuelled e-commerce, but there’s also a greater awareness of conscious consumerism now. The luxury collectibles market lends itself to this way of shopping, proven by the rise in demand in this sector over the past year.
One factor that drives me to push forward is our vendors. Covid has placed huge pressure on the creative industries. When we launched in February 2021, we were so glad to support the makers, artists and designers that didn’t already have a digital space. We put the work in – we build the tech, the marketing, we’re there to help and promote. And we bring that extra level of exclusivity, too.
As a young woman entrepreneur what advice would you give to other women trying to start their business?
My best advice would be to just start. Expect a lot of hard work, but know that as you progress things will start to feel less daunting and a lot more achievable. I’d also say it’s important not to be too much of a people pleaser – bold, considered decisions pay off in the most caring way. With that in mind, being direct and honest also goes a long way in terms of gaining respect across the board.
How would you define success as an entrepreneur?
I’m still figuring this one out. In the past, I would have said a large valuation. To some degree, I’m still aiming for that, but building a great team and culture has become much more important to me. With that in place, people are willing to go the extra mile, so you can in turn achieve more and have fun along the way.
You have the chance to ask your business idol one question. What would it be, and why is that a good question to ask?
It’s difficult to choose just one. For a more cliché route, I would ask Elon Musk about his time management and efficiency; what has to give to achieve his level of success?
And for a more niche answer, I’d ask hedge fund manager and philanthropist Ray Dalio about his principles on meritocracy. He talks about people being judged on their output rather than the merit of who they are, which is a concept that I’d love to discuss with him.
Finally, what does the road ahead look like for your company?
In the immediate future we have some very exciting collaborations with brands and designers happening for our second collection drop, when we’ll also be launching two new categories: Wine, Whisky & Spirits and iconic Ready-To-Wear Fashion.
Also coming soon, as I mentioned, the Token Platform is set to be a standout differentiator for Lymited. Offering fractional ownership on high-value assets, those out-of-reach dream pieces will suddenly become attainable.
Our starter for ten on the Token Platform is the Aston Martin James Bond DB5 Goldfinger Continuation, which retails for £3.5m. You can buy tokens for as little as £100, allowing you to own a percentage of the car, which is cool. The best bit is it’s on a first-come, first-served basis – the key for me is always to remain accessible. You can register your interest now on Lymited to be first in line when the Token Platform launches.