Boyd: The Laundress would have lost brand control taking early VC money
Lindsey Boyd · The Laundress: Lindsey Boyd · Jul 27, 2020 · at 47:52
Lindsey Boyd, co-founder of fabric care company The Laundress, reflects on the trade-offs of bootstrapping rather than raising outside investor capital in the company's early years.
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“We probably could have done a lot more at a faster pace. Not probably. We definitely could have. But we wouldn't have the same amount of control. Our brand would most likely look very different today.”
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Boyd: Europe and Asia adopted The Laundress faster than the US
“They are fanatics about caring for their wardrobe. So they jumped on board quickly. And so did Europe as well, a lot faster than the U.S. Market.”
Boyd: Getting acquired does not instantly scale a brand overnight
“While scaling will happen, it's not, oh, you acquire, you get acquired and like, poof, you're an overnight sensation. Like it's not, it doesn't work that quickly.”
Boyd: The Laundress avoided contract manufacturers to control product formulations
“We wanted, we didn't want to go to a manufacturer and just say, make something for us. We wanted to know what we were making, and I think that's what's woven into the whole business, is that we wanted to make sure we were in control of what we were making.”