[7] She has been dubbed "fashion's fairy godmother" by Vogue[8] and one of the 100 Most Creative People in Business by Fast Company.

[10] Áslaug Magnúsdóttir was born in Reykjavík, Iceland, to parents Magnús Sigurðsson and Rakel Valdimarsdóttir.

Áslaug grew up in Los Angeles and Reykjavík[9][13] and attended college at the University of Iceland, where she graduated in 1993 with a degree in law.

[17] In 2006, Áslaug relocated from London to New York and joined Marvin Traub Associates as a Vice President.

[19] In 2009, Áslaug came up with the idea for Moda Operandi,[19] a "pre-tailer" that lets consumers pre-order items directly from the runway.

[21] Áslaug left Moda Operandi in May 2013 after raising $36 million in a Series C round of funding from venture capital firms.