Maria Hatzistefanis experienced a career-defining moment when she was dismissed from her banking position, turning a seemingly negative event into a groundbreaking opportunity.

Previously employed by Salomon Brothers in New York and London, Hatzistefanis found herself unfulfilled in her role amidst what she described as a “macho culture.” In the summer of 1999, her termination for underperformance led her to pursue a long-held passion for beauty, initiating a journey that would culminate in her own skincare business.

Shortly thereafter, she established Rodial, a luxurious skincare line celebrated for its creative products and unique ingredients. One of their popular offerings, “Dragon’s Blood,” features a bright red sap extracted from a tree in the Amazon. The product range is priced from £39 for micellar cleansing water to £130 for premium serums.

Not stopping at one brand, in 2010 Hatzistefanis launched Nip + Fab, targeting a younger audience with a more affordable product range. Partnering with high street retailer Boots and leveraging marketing efforts featuring global influencer Kylie Jenner, Nip + Fab quickly surpassed Rodial in terms of growth.

As of last year, the combined valuation of Rodial and Nip + Fab reached £100 million, with sales exceeding £26.7 million. Hatzistefanis has also become a social media influencer, amassing over a million followers on platforms like Instagram and TikTok. She currently serves as an investor on the Greek adaptation of Dragons’ Den.

Participating in the show allows Hatzistefanis to reconnect with her roots, having grown up on the Greek island of Lesbos. Her upbringing, shaped by her mother’s role as a teacher and her father’s career as an author, laid the foundation for her passion for creativity.

From an early age, Hatzistefanis, originally named Maria Papageorgiou, had a fervent interest in fashion and beauty, initiating her career at the Greek version of Seventeen magazine. She later sought a more traditional career path, moving to New York to follow her then-boyfriend Stratis Hatzistefanis — who is now her husband and a key business partner — and financing her education at Columbia Business School with support from her parents. Living in New York was, in her words, “a dream come true.”

After completing her MBA, she joined Salomon Brothers but soon became disillusioned, finding herself disengaged from the workplace culture. In her autobiography, she recounted how her dissatisfaction led her to underperform, culminating in her eventual dismissal — an outcome she viewed as inevitable.

With newfound focus, she pivoted her career towards the beauty industry, investing £20,000 of her savings into creating Rodial, after identifying a gap for a premium skincare brand addressing specific skin concerns, like anti-aging and hydration.

Initial growth was gradual and challenging, as Hatzistefanis single-handedly managed orders and shipments. She recalled the loneliness of the early years without a support team, noting that interviews often took place in local coffee shops, which sometimes deterred potential hires.

Her persistence eventually led to partnerships with prestigious retailers like Harvey Nichols and Harrods, helping launch products like Tummy Tuck and Snake Serum, the latter of which claims to mimic Botox effects.

Rodial’s celebrity endorsements, including notable figures like Lady Gaga and Elle Macpherson, were instrumental in enhancing its profile. When launching Nip + Fab, Hatzistefanis made celebrity collaborations a strategic focus. Kylie Jenner’s organic endorsement of the brand helped elevate it significantly.

Hatzistefanis’ prior experience from Rodial’s establishment equipped her with the necessary insights for Nip + Fab’s swift rise. The brand has strategically shifted focus from Gen Z to a slightly older demographic, recognizing that marketing to Gen Z can be prohibitively expensive and that building lasting customer relationships can be more advantageous.

Hatzistefanis and Stratis own their business outright, having rejected initial investment offers in favor of maintaining control. She approached various venture capital firms early on but faced skepticism about investing in a female entrepreneur without a background in beauty.

Years later, after Rodial began generating substantial revenue, she received an investment offer but ultimately declined, realizing it did not align with her vision for the brand. Hatzistefanis emphasized that choosing the right partnership is vital, particularly in avoiding compromising decisions during tough times.

Now, as an investor on Dragons’ Den, Hatzistefanis reflects on her entrepreneurial journey while supporting emerging talent. Initially hesitant about committing time to the show, she soon found joy in mentoring and investing in startups, an experience she describes as creatively fulfilling without the pressures of running a business.

Insights from Maria Hatzistefanis

My inspiration: Anna Wintour of American Vogue. Her enduring relevance fascinates me and is a benchmark I strive for in my business.

The pivotal moment: When I chose to name Rodial’s first anti-aging product as Snake Serum, a decision that propelled it to viral fame.

Lessons from failure: The initial struggle to secure investment taught me discipline in spending and resulted in sustained profitability.

A key piece of advice: Always take the first step; waiting for the perfect moment often leads to missed opportunities.

The best guidance I received: Always have a backup plan; failure is simply a different pathway to success.