Advani: Wholesale accounts for under 5% of Ministry of Supply sales
Aman Advani · MIT Grad Reinventing Clothes with $7,000,000 Raised and $500k on Kickstarter, EP 295: Aman Advani · Jun 17, 2016 · at 10:15
Aman Advani, co-founder and CEO of Ministry of Supply, explains the company's direct-to-consumer distribution strategy.
0:00 / 0:06exact quote · 6.6s
720p mp4 · rendered on demand · StarZero watermark
“Less than five percent of our business is a couple of key wholesale partners that we sell through that are great at telling our story.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Aman Advani
Advani: Ministry of Supply has doubled its business annually since launch
“The business has doubled year over year since that first year, that was and we, we've doubled the business year over year, and we'll continue to do that.”
Advani: Ministry of Supply will achieve profitability by late 2016 or early 2017
“We are approaching profitability much faster than I think a lot of our predecessors in the sense that ideally late this year, early next year, we'll cross that milestone.”
Advani: Ministry of Supply set a Kickstarter fashion record raising $429k
“429,000, I think in that month. And at the time that was kind of a behemoth on Kickstarter. I think Since that's been dwarfed a few times, but at the time, it was kind of the record holder for biggest fashion projects, and more than anything, just a validation…”
Advani says Ministry of Supply lost money on its initial Kickstarter
“We didn't have a good grasp on kind of the at scale cost of goods. And on top of that, we didn't properly factor in packaging or returns or anything like that. So we joke in hindsight that we probably lost a decent amount of money on the whole thing where our …”