Tumi

14 statements across 1 episodes · 4 bullish · 4 bearish · 1 people on the record · first statement Jul 25, 2022 by Charlie Clifford · said 59 times in 2 episodes since 2019 · across every show →

Mentions by year

brought up most by Guy Raz (49), Charlie Clifford (9), Jen Rubio (1)

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00300.56012019202020212022episodesmentions per episode
2022 58 mentions in 1 episode
2019 1 mention in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Tumi, oldest first

Jul 25, 2022 negative
Disclosure
Clifford: Early Tumi leather goods from Colombia were often mediocre quality
“And we were manufacturing our leather goods in Columbia at the time, and when the leather was good, it was quite good. Often it was mediocre, and in this case, it was one of the poorer quality pieces that had just slipped through.”
Charlie Clifford Jul 25, 2022 ▶ 34:47 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 negative
Assertion Not publicly verifiable
Clifford: Tumi Sales Dropped Close to 40% Right After 9/11
“Yeah, it was close to 40% right after. There's immediate halt in the travel industry. Stores stopped buying, people weren't traveling, they weren't looking for luggage. It was a very, very grim period.”
Charlie Clifford Jul 25, 2022 ▶ 39:33 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 positive
Assertion Supported
Clifford: Tumi peaked at $140M+ under him, now surpasses $500M
“I think our peak year was a 140 plus million, and now it's over five hundred million.”
Charlie Clifford Jul 25, 2022 ▶ 1:03:12 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022
Assertion Not checkable as stated
Clifford: PE firms backed out of Tumi over post-9/11 terrorism fears
“Well, we had other PE companies that were interested, but most of them backed off because they were concerned about the potential for another terrorist attack.”
Charlie Clifford Jul 25, 2022 ▶ 43:43 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 bearish
Opinion
Tumi captured market share as Hartmann Luggage became 'like an Oldsmobile'
“And by the late eighties Hartman, though still very respected, was becoming a little bit like an Oldsmobile. High quality, good brand but it did not represent contemporary design, and Toomey was able to fill that, that role due to the black on black look.”
Charlie Clifford Jul 25, 2022 ▶ 28:16 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 positive
Assertion Not publicly verifiable
Clifford: Tumi reached over $10 million in revenue in 1988
“Actually, I think we hit ten million, a little over ten million in 1988.”
Charlie Clifford Jul 25, 2022 ▶ 27:21 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 neutral
Insight
Clifford: Financial investors view employees as fungible to cut fixed costs
“The difference between financial investors and other types of investors is that people are fungible and they were less interested in the value that different people brought to the parts of the business than they were in getting down to what was a reasonable he…”
Charlie Clifford Jul 25, 2022 ▶ 44:16 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 neutral
Disclosure
Clifford: 1985 Tumi co-founder buyout was structured as cash plus sales percentage
“We reached the number on the value, and it was for a fixed amount of money and a percentage of sales up to a cap for a number of years.”
Charlie Clifford Jul 25, 2022 ▶ 24:02 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 negative
Insight
Clifford: Middle of the retail market is an overcrowded 'no man's land'
“The middle of the market's a tough playing field. There are a lot of people fighting for a share of the middle of the market, and you know, we looked upon it as no man's land.”
Charlie Clifford Jul 25, 2022 ▶ 51:00 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 positive
Assertion Supported
Clifford: Tumi's 1983 ballistic nylon garment bag became its top seller
“In 1983, we did introduce our ballistic nylon line. Our garment bag, which was designed by Jeff Brutelson before he left, became our best selling piece.”
Charlie Clifford Jul 25, 2022 ▶ 22:02 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 neutral
Disclosure
Bank forced Tumi into asset recovery and lockbox receivables in 1982
“Once they put us into the asset recovery department, that's, that was one of their requirements.”
Charlie Clifford Jul 25, 2022 ▶ 16:09 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 positive
Insight
Clifford: Leather goods enable consistent reproducibility unlike artisan handicrafts
“I thought that leather bags would offer the opportunity to focus on a product that had a lot of handwork in it, but essentially be able to be reproduced consistently the same way every time.”
Charlie Clifford Jul 25, 2022 ▶ 8:35 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 neutral
Opinion
Clifford: Tumi is a premium brand, not true luxury
“I think to me is not really luxury. It's still premium. It's luxury perhaps for the luggage category. But as brands go, it's a high-end brand and well-made and so on and so forth, but beautiful stores but the, they've maintained the integrity of the product fo…”
Charlie Clifford Jul 25, 2022 ▶ 51:17 Tumi & Roam Luggage: Charlie Clifford
Jul 25, 2022 neutral
Disclosure
Clifford: Tumi was launched with $10,000 in initial pooled capital
“I think we had 10,000 dollars between us.”
Charlie Clifford Jul 25, 2022 ▶ 10:40 Tumi & Roam Luggage: Charlie Clifford
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