Galyn Bernard and Christina Carbonell discuss their 14-year co-founder dynamic and conflict resolution strategy as co-CEOs of Primary.
Insight
Specializing in basic apparel drives better customer loyalty than trend-chasing
“By focusing on it, we could actually do it really well in a way that was sort of profitable, and, you know, a solid business, and the basis of an amazing customer relationship, where, yes, a bunch of other companies could and do sell and A basic white t-shirt …”
Assertion Not checkable as stated
A Series A investor reneged on Primary due to portfolio conflict
“And so we jumped on the phone and yeah, the message was, you know, I'm so sorry, but I have another company in my portfolio that is sort of pivoting into the same space and I can't make this investment now.”
Disclosure
Primary secured a $2.5 million seed round after fifty pitches
“We had probably more than 50 meetings ended up with two sort of lead venture investors, as well as, like, a bunch of friends and family who, you know, were sort of excited about the idea and wanted to be supportive. So, yeah, we raised two and a half million i…”
Insight
Primary requires new evergreen clothing products to have five-year lifespans
“So when we started, you know, sort of our concept of evergreen was that if we were going to launch something, we needed to believe that we could sell it for at least five years.”
Disclosure
Primary plans to partner with larger retailers for international physical expansion
“The idea of having a partner at some point in the future who Maybe has some deeper pockets than we do, and who also has had experience in additional distribution channels or physical retail or international or, you know, sort of other growth areas that Christi…”
Disclosure
Primary initially targeted a $750,000 seed round to finance inventory
“Our target was 750,000 dollars to basically get us to the point where we were ready to launch, so our first inventory buy, obviously some product development along the way, and then mostly otherwise it was people who could help us build a website, could help u…”