Entrepreneurial biography: Klaus Reichardt, founder/managing partner of waterless co. LLC

Abstract

Klaus Reichardt grew up in Germany and moved to the United States in 1978 to study. He attended Pepperdine University in California, where he received his Bachelor's and Master's degrees in Business and Management. After completing his academic career, Reichardt was interested in working for himself, and therefore, he imported a line of fashion jewelry from Germany to sell in the United States. This was an attractive venture, because the product was of high quality and the U.S. dollar was low, and therefore, it could be purchased inexpensively. He set up a network of about 25 representatives across the country to help him sell the product to department stores as well as small boutiques. Reichardt sold the jewelry for five years. However, in the late 1980s, the value of the dollar fell and the product he was purchasing became very expensive. The dollar dropped so fast that Reichardt could not adjust his pricing for the market and eventually lost his business. At this point in his life, Reichardt had a family to support and therefore needed to find another form of income quickly.

Citation

Kokosinski, K. (2009), "Entrepreneurial biography: Klaus Reichardt, founder/managing partner of waterless co. LLC", Libecap, G.D. (Ed.) Frontiers in Eco-Entrepreneurship Research (Advances in the Study of Entrepreneurship, Innovation and Economic Growth, Vol. 20), Emerald Group Publishing Limited, Leeds, pp. 1-14. https://doi.org/10.1108/S1048-4736(2009)0000020003