The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
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every show 44 of 44
Amy Errett: Madison Reed removed eight ingredients no competitor has eliminated
“We talk about a better for you formula, and we are very factual about these eight things that we factually have taken out. That nobody else has taken out.”
Errett: The IPO window is non-existent for consumer companies
“If you look at the IPO window, it's non-existent for consumer companies.”
Errett: Madison Reed reached corporate profitability in 2024
“We are a profitable company now. We crossed profitability last year.”
Errett: Fired as Olivia CEO blindsided in a hotel lobby
“I was fired in a hotel lobby on a Monday morning, completely blindsided.”
Errett: Howard Schultz urged Maveron to slow investments in fall 2007
“I will never forget it was the fall of 2007, and we had an investment meeting in Seattle, and he walked in and he said, we need to slow down our investments.”
Errett: Dollar Shave Club founder Michael Dubin serves on Madison Reed's board
“Michael is now my independent board member at Madison Reed, so.”
Errett: Madison Reed's Early Color-Matching Algorithm Delivered High Accuracy and Retention
“And we started to see very early on actually measuring customer satisfaction and net promoter score, whether or not this algorithm Because that's what we built. Machine learned algorithm worked. And that was the moment that we understood we had something here …”
Errett: Hundreds of stylists asked to buy Madison Reed wholesale for salons
“One stylist started reaching out to us asking if they could buy our color directly from us to apply to their customers' hair in their salons. Like at a whole, at wholesale. Yeah. And that was like, oh, curious. That's curious to me. And it was not like three. …”
Errett: Madison Reed's $75K Flatiron pop-up was fully booked in five weeks
“And so they said you have 75,000 dollars. Go wild. See what you can do. So we opened a small pop-up in Flatiron. We spent 25,000 of the 75 for out-of-home advertising, like billboards on sides of the buses and phone booths, still phone booths in New York, and …”
Amy Errett: Madison Reed virtual try-on boosts conversion by 30%
“When somebody uses that, they convert 30% more than any other customer that doesn't use it.”
Amy Errett: Madison Reed operates 95 Hair Color Bar locations
“We should allow you to go to any one of our 95 locations and have the same outcome.”
Errett: Madison Reed received 16,000 inbound customer inquiries daily during COVID
“So our inbound, we were getting 16,000 inquiries a day.”
Errett: Madison Reed never declined post-pandemic and grew every subsequent year
“So our numbers as a company never went down. We kept The doubling of the business and then have grown since then every year.”
Errett: Madison Reed uses identical hair color in salons and boxed kits
“Remember, we're using the same box of hair color in our hair color bars that we sell. It is not a different product. It's the same.”
Dollar Shave Club founder Mike Dubin serves on Madison Reed's board
“The irony is Mike Dubin is now on my board, which is, and we stayed close as friends and he's been a mentor to me.”
Most private-label hair color is manufactured in Italy under strict EU regulations
“Because it is where most private label hair color is made, and the EU has very strict regulatory environment where basically you can't put certain things in, in personal care products.”
Madison Reed sold hair color every five seconds during COVID-19
“We were selling a box of color in our, during the pandemic, every five seconds for months.”
The average U.S. hair colorist earns less than $35,000 annually
“The average colorist in the U.S. Makes less than 35,000 dollars a year.”
Bain & Company took 50% of its Madison Reed fee in equity
“They took 50% in, in equity in, in their fee.”
Errett: Spectrum Was Profitable in Six Months and Never Raised More Capital
“We were a profitable company from the first six months and never became unprofitable, never needed to raise any more money.”
Errett: Madison Reed's first production run cost about $160,000 for 19 shades
“I think altogether it ended up being, like, maybe a 160,000 of US dollars, because remember, the first run was a limited, you know, minimum order quantity, and when we launched, we only had 19 shades.”