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Founder Series: MAKU The Label - Kyall & Maku Fenaroli

eCommerce Australia · with Kyall Fenaroli & Maku Fenaroli · July 15, 2026 · 50 min

Summary

This episode chronicles the rapid ascent of Maku The Label, an art-led fashion brand that transitioned from a side hustle to a major retail presence with David Jones in just 18 months. Founders Kyall and Maku Fenaroli share their journey, highlighting crucial pivots in their fulfillment model from print-on-demand to in-stock inventory and 3PL, and emphasizing a focus on contribution margin over top-line revenue. It's a masterclass in strategic decision-making and agile scaling for ambitious ecommerce operators.

Key takeaways

Themes

dtc strategyretail & omnichannelsupply chain & operationsfinance & fundraising

Topics covered

art-led brandingprint-on-demand to 3pl transitioninventory managementcash conversion cyclewholesale partnershipsorganic growth strategies

Episode description

Building an Art-Led eCommerce Fashion Brand: Kyall & Maku Fenaroli on Maku The LabelIn this episode, Ryan sits down with Kyall and Maku Fenaroli, the husband-and-wife team behind Maku The Label, an art-centric fashion brand that's gone from Maku painting designs on blank t-shirts to landing David Jones as a stockist, all in under 18 months.Maku spent over a decade in finance before turning her lifelong passion for art into a business. Kyall left a career as a plumber and general manager in construction to run the operations side full-time. Together they've built a brand defined by original artwork, rapid organic growth, and a willingness to make big, fast calls, including ripping up their entire fulfilment model mid-flight.This one's a masterclass in scrappy growth, knowing when to change your model, and what it actually takes to go from side hustle to major retail partner.From side hustle to Style Runner in four monthsMaku started printing her art on blank tees with zero branding, just a decision to stop buying t-shirts she didn't love. Four months later they landed Style Runner, their first major stockist, before either of them had heard of an SSCC barcode.Why they walked away from print-on-demandPrint-on-demand gave Maku total creative flexibility (paint today, sell tomorrow), but it was killing customer experience with two-week delivery windows and mispicked orders. After a rough Black Friday period exposed the gap, they moved to a 3PL and in-stock model in a matter of months.The real cost of switching to held stockKyall breaks down what changes when you go from print-on-demand to holding inventory: deposits on stock six months out, a five-to-nine month cash conversion cycle, and having to plan collections over a year in advance. Maku is already painting for August 2027.Contribution margin over vanity revenueKyall's

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Frequently asked about this episode

What does this episode say about dtc strategy?
Prioritize contribution margin over vanity metrics to build a sustainable business model.
What does this episode say about retail & omnichannel?
Be prepared to make rapid, significant operational shifts, like moving from print-on-demand to 3PL and held inventory, when customer experience or profitability are at stake.
What does this episode say about supply chain & operations?
Understand the financial implications of inventory-based models, including long cash conversion cycles and forecasting collections over a year in advance.
What does this episode say about finance & fundraising?
Leverage unique brand storytelling through original artwork to differentiate and foster organic growth.
What does this episode say about dtc strategy?
Major retail partnerships are attainable for new brands and can be secured even without prior experience by demonstrating strong product-market fit and growth.

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