Know your customer and work from instinct

Roger Wade, founder of Boxfresh, BoxPark, and BoxFund was recently invited to the London Business School's TELL Series, organised by the Institute of Entrepreneurship and Private Capital. Roger shared his experiences, purpose, and the key insights he has gathered along the way.

Roger Wade, born in London to Malaysian and Irish parents, has carved out a remarkable career in entrepreneurship. His journey began with the founding of Boxfresh, a pioneering British streetwear brand, which later led to his groundbreaking venture, BoxPark, the world's first pop-up mall. Roger's story is a testament to the potential within every aspiring entrepreneur.

Roger was born in London and grew up in South London. After completing his education, he considered pursuing a career in medicine, but his entrepreneurial spirit soon led him down a different path. In 1992, he founded Boxfresh, one of the original British streetwear brands. Boxfresh started by importing American streetwear brands like Carhartt and Penfield to the UK, and then Roger started developed his own clothing line. The company quickly gained recognition and the brand's success led to its eventual acquisition by Pentland Brands.

Following the sale of Boxfresh, Roger established Brands Inc, a brand consultancy that specialised in licensing, buying, and selling brands.

In 2011, Roger embarked on his most ambitious venture yet, introducing the world's first pop-up mall, BoxPark, in London's Shoreditch neighborhood. When asked how he came up with the idea, Roger said he thought of it when he woke up in the middle of the night with the idea! The concept was simple but groundbreaking: utilizing repurposed shipping containers, BoxPark provided a platform for independent retailers, offering a unique shopping experience that merged fashion, food, and entertainment.

The first five years of Boxpark were focused on providing spaces for independent retailers, launching innovative new concepts like Nike Fuelband. Then, Roger pivoted to selling street food, which grew the business. He eventually pivoted to selling drinks, which accelerated the company’s growth and allowed him to go on to win multiple awards and included in the Sunday Times Fastrack UK 100 fastest growing businesses 3 years in succession.

BoxPark's success in Shoreditch led to expansions in other locations, including Croydon and Wembley. Each BoxPark location was tailored to suit the needs and preferences of the local community, creating vibrant spaces that showcased a diverse range of independent businesses. Through BoxPark, Roger not only transformed the traditional retail landscape but also championed local entrepreneurs and helped revitalize underutilized areas. Eventually he sold Boxpark to Lloyds Development Capital.

After stepping down as CEO of BoxPark in 2022, Roger took time off to reflect on his personal and business goals. During this time, he participated in a Private Equity masterclass at the London Business School (LBS) and developed a clear vision for his future endeavors.

Driven by a desire to help entrepreneurs and create a better society, Roger founded BoxFund, a startup fund that focuses on supporting entrepreneurs who aspire to build profitable businesses while making a positive social impact. BoxFund, inspired by the concept of "zebras" (companies that balance profit with purpose), seeks to guide entrepreneurs and invest in approximately 20 carefully selected companies, emphasizing quality over quantity.

Roger's entrepreneurial journey offers valuable lessons for aspiring business leaders. First and foremost, he emphasises the importance of being special to your customers, creating unique experiences that differentiate your brand from the competition. He also stresses the significance of product excellence, driving traffic to your business, and optimizing conversion rates.

In addition to these key factors, Roger places a strong emphasis on emotional intelligence, highlighting the crucial role it plays in building successful teams and fostering positive relationships with customers. Finally, he distinguishes between entrepreneurs and leaders, recognizing the distinct skill sets required for each role and the importance of adapting as your business evolves.

Roger's journey from founding Boxfresh to revolutionising the retail industry with BoxPark showcases his entrepreneurial ability and dedication to creating meaningful change. With a strong sense of purpose and a focus on supporting entrepreneurs and building a better society, Roger continues to leave a remarkable impact.