At a time of life when most people start easing into retirement, Lois Wake decided to launch a new business in her early 70s to support women who feel invisible.
Her business, Lois & Co, came to life after Lois watched the women around her struggle to find age-appropriate clothes that were also flattering and confidence-boosting to wear at milestone moments like weddings, celebrations and formal events.
With the cost-of-living pressure rising, Lois was also conscious that most women didn’t want to spend thousands on an outfit they would wear once.
Lois & Co is a dress hire business, helping women to find formal wear they can rent once and return.
“What surprised me most was how deeply emotional that decision became,” Lois tells Women’s Agenda.
“Every hire carries a story. Women rebuilding confidence after illness, divorce or loss; women stepping into a room feeling confident and seen for the first time in years.”
Lois & Co carries designer labels including La Strada, Anthea Crawford and Trellis Lane and considers itself part of the circular fashion movement.
Lois is among a growing cohort of mature-aged women who are launching businesses.
Recent figures show entrepreneurs aged 50 and over contribute $11.9 billion per year to the Australian economy across nearly 380,000 businesses. They also launch 14,000 new businesses each year and contribute to the financial, social, health and active ageing outcomes in their communities
A massive 34 per cent of all young businesses in Australia are now led by mature-aged entrepreneurs, making them the fasting-growing cohort of entrepreneurs.
“At 72, most people expect you to slow down,” Lois says. “Instead, I launched a new business because I could no longer ignore how invisible women like me had become.”
“After decades of being active, social and engaged, I realised something quietly devastating: fashion — and much of society — had stopped designing for women my age.
“Not because we disappear, but because we are no longer seen as relevant. This realisation creeps up on women aged in their 50s+.”