The Ledger
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Concept2 Priced Early Products Based on Future Manufacturing Costs at Scale
“We tried to price it at what we thought we could eventually make it for. So we were projecting ahead that we could, you know, eventually get to the point where it was more profitable. And, you know, we use that philosophy all the time with other products now, …”
Concept2 Chose Direct Sales Over Giving Retailers 40 Percent Margins
“I mean, I think when we first started out, you know, stores or retailers were demanding very large margins, you know, they had to have a We didn't want to raise our price so that we could give them a 40% margin.”
Concept2 Built Its Most Successful Products to Serve the Founders' Needs
“Most of the products that we've worked on and been successful with are products that That we want to use ourselves, you know, and the theory is that if we, you know, like the idea of having some way to train specifically for rowing without having to get to the…”
Harvard Ordered Concept2 Oars Only After Losing to Yale
“After Yale beat Harvard, We got an order from Harvard for the oars.”
Concept2 Launched Its First Rower at $400, Undercutting $3,000 Competitors
“400 dollars. Well, these rowing machines that the colleges would use, that they couldn't really afford to have a whole bunch of them in their gym, but they maybe have one or two, they were over 3000 at that point. Maybe 3500.”
Around 40 Third-Party Fitness Apps Integrate With Concept2 Monitors
“We have, like, 40 other third-party apps that connect with that monitor.”
Concept2 Is Exploring Patagonia-Style Purpose Trusts for Company Succession
“We're studying that right now, actually. And, you know, we've looked at things like what Patagonia has done, and, you know, they become kind of this poster child a little bit for this idea of the purpose, trust.”
Concept2 Sold Out Its First 50 Indoor Rowers at a Regatta
“Well, at that point, we had, we were doing our first batch, I think it was like, 50, and I think we sold most of those, if not all of them, at that Masters, yeah, Championships regatta.”