1. GREAT ENTREPRENEURS NEVER STOP innovating and growing, even when facing
an unpredictable economy or a challenge as tough as Hurricane Sandy. This
year’s Crain’s Top Entrepreneurs, chosen from a record 119 entrants across New
York City, impressed our judges because they embody that type of can-do
spirit and determination—and a commitment to give back to the city.
Consider Raj Thakkar, founder of Charter School Business Management.
Noticing that charter schools often struggle because their founders don’t have
the experience to manage their finances well, Mr. Thakkar, formerly a charter-
school CFO himself, opened a firm to guide them in 2006. He now serves about
100 clients, mostly in New York City.
Sniffing out a growing demand for her home fragrances and personal-care
products, veteran scent maker Laura Slatkin almost doubled revenue at Nest
Fragrances—to $37.4 million last year from $19.6 million in 2011—as she found
ways to bring her products to a wider array of retailers. Meanwhile, she has
played an active role in initiatives to help those with autism and their families.
These are just a couple of the visionary leaders you’ll meet in the pages to
come. Even if you never intend to start a business yourself, these inspiring
stories will leave you excited about the future of New York.
VOL. XXIX, NO. 22 WWW.CRAINSNEWYORK.COM JUNE 3-9, 2013
CRAIN’SNEW YORK BUSINESS®
LAURA SLATKIN of Nest Fragrances
photosbybuckennis

2. A
21-year veteran of the fragrance industry, Laura Slatkin got her
first whiff of entrepreneurship when she partnered with her
husband, Harry, in a scented-candle line. The couple became
intrigued by the business after Ms. Slatkin’s brother-in-law
Howard,an interior decorator,gave them candles from the high-end line that
were personalized with their names as a wedding present in 1992.
Initially investing “several hundred thousand dollars,”the husband-and-
wife duo—both Wall Street alums—developed the business into luxury
brand Slatkin & Co., with more than 100 scented products. In 2005, they
sold it to Limited Brands for eight figures. Mr. Slatkin stayed on as a
consultant while Ms. Slatkin used her personal resources to start
Manhattan-based Nest Fragrances,a manufacturer of scented products for
the home, bath and body.
Attheoutset,Nest’sCEOwasrestrictedbyanoncompeteagree-
ment to producing private-label home-fragrance and personal-care
products. But when the three-year restriction expired, Ms. Slatkin
wasted no time in introducing the Nest brand of home fragrances,
followed by Nest personal-care products and fine fragrances.
Today,theNestempireencompassesNest-branded,licensedand
private-label lines, including products for Tory Burch and Calvin
Klein,and a potpourri of scent-infusing items,such as room sprays,
candles and sachets.
With its products scoring space at retail chains as
diverse as Saks Fifth Avenue and Target, and as far
away as David Jones Stores in Australia, the 35-em-
ployee company nearly doubled revenue last year,
to $37.4 million, from $19.6 million in 2011. Nest
Fragrances sources product components,such as glass,
overseas, and manufactures candles, soaps, perfumes,
lotions and other products in the U.S.
Looking ahead—and with Connecticut-based pri-
vate-equity firm Tengram Capital last year providing
a substantial infusion of funds to help grow the busi-
ness—Ms.Slatkin plans to introduce in fall 2014 a line
that includes shampoo and body butter.
Still, it hasn’t all been a bed of roses. “Business is a
huge roller-coaster, with ups and downs,” said Ms.
Slatkin, 54.“You’ve got to be quick to change gears.”
In2010,Ms.Slatkinandheremployeesinvestednine
months in planning a multimillion-dollar launch of a li-
censed home-fragrance line, including crisscrossing the
country to show samples to expectant retailers.Then the
prospective licensee abruptly canceled the project—in a
voicemail,citing “internal complex reasons,”she said.
In response, Ms. Slatkin again marshaled her employees, but this time
to help her recast the line as a Nest brand. And earlier this year, when the
line’s sales “didn’t meet expectations,” she didn’t hesitate to discontinue it.
“You can’t become emotionally attached if something doesn’t take off,”
she said. “I’m here to drive revenues, expand the business and have a strong
bottom line—and everything has to be done for that purpose.”
Her signature tenacity has won over retailers like Jim Gold, president of spe-
cialty retail at Dallas-headquartered Neiman Marcus Group, which includes
NeimanMarcusandBergdorfGoodmanstores.AfterMr.GoldtoldMs.Slatkin
that Nest’s packaging didn’t differentiate one scent from another on the selling
floor,she promptly improved it.“That’s Laura,”said Mr.Gold.“Instead of being
insultedinanyway,shapeorform,[shesaid,]‘Ihearyou,’andshejustgetsitdone.”
Her determination also benefits children with autism. As
parents of an autistic child, the Slatkins started New York Col-
laborates for Autism, a foundation that has spearheaded the de-
velopment of a charter school for autistic children, and it has
funded an autism training school at Hunter College.
The Slatkins also raised $12 million to create the Center for
Autism and the Developing Brain,which is housed on the West-
chester campus of New York-Presbyterian Hospital.
“Autism reminds me what I can and cannot change,” she said.
—cara s. trager
Reprinted with permission from the Crain's New York Business. © 2013 Crain Communications Inc. All Rights reserved.
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®
JUNE 3-9, 2013
Scent maker enjoys the
sweet smell of success buckennis
LAURA SLATKIN:Her
fragrancecompanynearly
doubledrevenuelastyear.
NEST
FRAGRANCES
makes scented
home and
personal-care
products.