Summary:
Amir Loloi immigrated to the U.S. at 16 and founded Loloi Rugs.
The company sells about 6,000 rugs daily, with prices between $250 and $25,000.
Loloi emphasizes the importance of trust in business partnerships.
The company has a strong family-oriented culture with nearly no layoffs.
Loloi's sons are set to lead the company into its next era with a new DTC brand.
A Journey of Resilience and Vision
When Amir Loloi immigrated to the U.S. from Iran at age 16, he had dreams of returning home after his education. Instead, he founded Loloi Rugs, transforming it into a beloved brand known for its high-quality products and notable collaborations.
Image Credit: Courtesy of Loloi. Amir Loloi and his sons, Steven and Cyrus (left to right).
The Birth of an Entrepreneur
Loloi's entrepreneurial journey began with a desire for independence. He took various jobs while studying, including working at Burger King and waiting tables. His experience in a rug company during college ignited his passion for the industry.
Building a Legacy
In 2004, Loloi launched his own B2B rug company. Despite skepticism, he was determined to create a legacy for his children. He envisioned a small business focused on quality and innovation.
Overcoming Challenges
Although he faced growing pains, such as logistics issues, customer enthusiasm for his products spurred him to enhance his customer service. To keep up with demand, Loloi expanded his team, which now employs over 500 people.
Impressive Growth
Today, Loloi sells approximately 2.3 million rugs annually, averaging 6,000 units per day with prices ranging from $250 to $25,000. The company boasts over 800 collections and collaborations with renowned designers like Joanna Gaines.
Image Credit: Courtesy of Loloi. The Heritage Collection.
The Importance of Trust
Loloi emphasizes that trust is crucial in business partnerships. He believes in evaluating potential partners based on the value they bring to the company and their alignment with its culture.
A Supportive Work Environment
Loloi maintains a family-oriented company culture with minimal layoffs and employee appreciation events. He invests in initiatives that support staff well-being, fostering a committed workforce.
The Next Generation
With his sons, Cyrus and Steven, stepping into leadership roles, Loloi's family business is poised for future growth. They also launched a direct-to-consumer brand, Joon Loloi, expanding their reach in the home furnishing market.
Image Credit: Courtesy of Loloi. Loloi x Magnolia Home by Joanna Gaines Winter 2024 Collection.
Lessons for Aspiring Entrepreneurs
Loloi's journey serves as an inspiration for aspiring entrepreneurs. He believes that dreaming big and hard work can overcome any obstacles, regardless of background.
"If you dream big and work hard, no one is there to stop you," Loloi advises. "It's all about what you are willing to do."
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