Bert Jacobs, co-founder of Life is Good, discusses the company's capital structure and long-term ownership strategy with Guy Raz.
0:00 / 0:06exact quote · 6.5s
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“We own a hundred percent of the business, and, you know, we have no intention of going public or selling the business.”
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More from Bert Jacobs
Disclosure
Life is Good faced decimation when COVID wiped out wholesale orders
“Our business is structured in a way where half of our business was wholesale, and that means the high majority of those retailers closed their doors, canceled their orders, and our business was pretty close to being decimated, so we were having discussions can…”
Bert JacobsSep 17, 2020▶ 3:07How I Built Resilience: Bert and John Jacobs of Life is Good
Insight
Jacobs: 12-to-18-month wholesale retail supply chains are an archaic model
“The tail was wagging the dog where the wholesale business and this long supply chain window was kind of ruling our company, and we already knew that that was an archaic model. All of America retail operates on it by and large. We knew that consumers want thing…”
Bert JacobsSep 17, 2020▶ 5:45How I Built Resilience: Bert and John Jacobs of Life is Good
Insight
Jacobs: Perfect inventory matters more than lower per-unit printing costs
“So it essentially is more expensive to print per unit, but if we're doing it right, you end up with perfect inventory and inventory is the thing that kills businesses.”
Bert JacobsSep 17, 2020▶ 7:48How I Built Resilience: Bert and John Jacobs of Life is Good
Insight
Bert Jacobs: Modern brands cannot be built without consumer co-authorship
“It's the 21st century, and anybody who thinks that they're a smart entrepreneur or a smart marketer, and they're gonna build their brand on their own, you're kidding yourself. You have to enable your consumers to co-author the story of your brand”
Bert JacobsSep 17, 2020▶ 26:55How I Built Resilience: Bert and John Jacobs of Life is Good
Disclosure
Jacobs: Life is Good spent millions on direct-to-garment tech pre-COVID
“We've been researching for the better part of five years, and we just, before COVID hit, spent several million dollars on technology”
Bert JacobsSep 17, 2020▶ 7:24How I Built Resilience: Bert and John Jacobs of Life is Good
AssertionNot checkable as stated
Jacobs: Life is Good e-commerce revenue doubled year-over-year in 2020
“Our e-commerce business has doubled to date over last year in such a difficult macroeconomic environment, and the wholesale business, you know, went down to next to nothing, but it's starting to rise again.”
Bert JacobsSep 17, 2020▶ 10:47How I Built Resilience: Bert and John Jacobs of Life is Good
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