Bert Jacobs, co-founder of Life is Good, explains how the company minimized real estate overhead during their early scaling years in 1995.
0:00 / 0:18exact quote · 18.8s
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“They had a dirt parking lot, and for zero rent, they let, because we were afraid to get the overhead of a warehouse, and so they let us it was 30 dollars a month to rent the lease the container, and for zero dollars, they let us park it on their lot.”
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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
Founders Bert and John Jacobs retain 100% ownership of Life is Good
“We own a hundred percent of the business, and, you know, we have no intention of going public or selling the business.”
Bert JacobsSep 2, 2019▶ 49:26The Life Is Good Company: Bert and John Jacobs
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
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