Insight
Schorr: CPG founders must create physical product prototypes before developing packaging
“In some ways, step one was just to take a step, was to produce some product to actually get product that was like, that you could taste that made it real. Step two is get the package in mind.”
Insight
Schorr: Food venture funds lowered sales thresholds from $5M to $1M
“So before maybe two, three years ago, you'd have a small fund that would say, we're not touching you unless you're under, unless you're five million or more. And I think that bar has moved down now to a million or more because I don't think they want to cut th…”
Assertion Supported
Schorr: Unprofitable CPG companies grossing $150M–$200M sell for $1B
“There's companies that are grossing 152 hundred million dollars and aren't profitable and are selling at five X for a billion dollars.”
Assertion Partly supported
Schorr: The overall super-premium ice cream category is flat or down
“So super premium ice cream is, is flat or down as a whole pints are doing really well. Private labels taking some hits, but a market trend, consumer trend was something that we all missed a little bit and it's having an impact.”
Disclosure
Schorr: Vice Cream demands full weekday commitment late into the night
“I tell people, I want your time Monday through Friday, and that may be 11 and two in the morning. And on weekends, you're on your own for the most part, unless you're working event.”
Disclosure
Schorr: Early-stage Vice Cream is managed like a $50M business
“I'm managing this like a 30 or 40 or fifty million dollar company. We do an annual off-site that we did in December for next year's planning, and then we religiously, religiously being a year and a half, two years, have a quarterly one-day session to do check-…”
Prediction Didn’t hold up
Schorr: Vice Cream will be a top-three super-premium ice cream by 2022
“Our goal is to, over the next The next five years is to build, you know, a national brand that has significant, you know, revenue and is a major player out there to be a third brand to Ben and Jerry's and Haagen does in the super premium space.”
Assertion Not checkable as stated
Schorr: Two-person team drove $250M in Pepsi energy drink revenue
“The two of us were managing the energy drink portfolio and we drove two hundred and fifty million dollars in business in a couple of years.”
Opinion
Schorr: The ice cream category is supposed to be about indulgence
“This category is supposed to be about indulgence.”
Assertion Supported
Schorr: Ben & Jerry's and Häagen-Dazs dominate with $1.2B combined sales
“You had 1.2 billion dollars in sales between Ben and Jerry's and Haagen-Dazs and they dom everything.”
Disclosure
Schorr: He will quit if Vice Cream ever needs an HR department
“The day I hire an HR department, I quit. So I have no, no intentions of being that big.”
Assertion Supported
Schorr: Vice Cream expanded from 20 to 3,000 stores in one year
“When I talk about going from 20 grocery stores a year ago to 3000, you know, there's a lot of things that we've done right, too.”
Assertion Not checkable as stated
Schorr: Vice Cream secured shelf space in all 14 founder-led pitches
“We've presented to approximately 17 accounts, and we're 14 for 17 getting in. The only three are the ones I didn't go to. So I'm 14 for 14 presenting to accounts.”
Assertion Partly supported
Schorr: Vice Cream and partners raised nearly $1M for Dana-Farber
“We just raised close to a million dollars with other brands for Dana-Farber Cancer Institute in New York at the Scooper Bowl and in Boston as well.”
Assertion Supported
Schorr: Penn State's ice cream course sells out globally every January
“Penn State University has been running an ice cream course that God, it probably goes more than 50 years, but Dr. Robert Roberts was there, and I believe his dad was there as a professor, and there's about, people come from 30 different countries in January or…”
