Fan Bi (buying $5-30M DTC brands) @lifeofbi
Here for consumer brand deals. We buy sponsor-backed consumer brands in special situations, DTC-first, US-only, $5-30m in revenue. linkedin.com/in/fanbi 🇺🇸🇦🇺 Joined August 2009-
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In the ultimate sign of the consumer markets, SKKY Partners (Kim K and Carlyle vet Jay Sammons) have raised only $121m of their $1-2B target after 18 months fundraising. Sidenote: Kardashian's stake in the firm is held in a vehicle called Favorite Daughter Inc. h/t @__rehurek
Congrats to Knot Standard merging into Billy Reid. Having spent 10 years in the men's tailored business, always respected Knot Standard. They were backed with $30M+ by Provenance (Marine Layer, Dagne Dover) and Decathlon. More merger activity to come!
Still shocked Foxtrot, the much beloved retailer, is filing Ch 7 and closing down. Transformational merger announced in December. Whole Foods EVP named as new CEO in February. Closure announced in April. 🤞everyone lands on their feet.
Still shocked Foxtrot, the much beloved retailer, is filing Ch 7 and closing down. Transformational merger announced in December. Whole Foods EVP named as new CEO in February. Closure announced in April. 🤞everyone lands on their feet.
1-800-D2C, CPG Wire, Express Checkout, Thingtesting, DTC Times, DTC Newsletter. Are there any other independent media properties on DTC/CPG?
Luxury British retailer, Selfridges, has four locations and does ~$1B in revenue sold to a group controlled by Signa (Austrian real estate) for $4.5B in 2022. Signa has now filed for bankruptcy and the court will take bidders for Selfridges.
Excited to see multi-brand DTC platforms getting built, Full Glass Wine raises $14m, has bought: Winc (raised $55m and went public and then BK), Bright Cellars (raised $20m), Wine Insiders.
The brilliance of @lifeofbi is coming to Daily Mentor today. Stoked for our members to get the opportunity to learn how he thinks about brand building and acquisition. He's a must-follow here if you aren't already.
So fascinated by ABG playbook. ABG buying Champion for ~$1B, outbidding Delta Galil, Sycamore Partners, G-III Apparel, WHP Global. Champion does ~$2B in revenue, but down 20% from LY.
Alright, I'm up to speed in my new role and I have product I want to get into more hands! Other operators or community folks... can we chat or can @prima plug into anything cool you're planning?
M&A markets remain active for creative deals, great for the ecosystem. Fullbeauty Brands, hold co for plus size women’s apparel, buys Dia & Co, online size-inclusive marketplace, which had raised $90m including from Sequoia and Union Square.
There's multiple $100m+ revenue DTC brands that started with a shared services/agency/incubation approach: True Classic tees Vessi shoes Ridge wallets At the original founding/inflection, CEOs today were running multiple brands, then went all in once things ripped. Any others?
Best in class DTC P&L at <$30m revenue: Product margin - 80% Landed FOB Gross margin - 60% CC fees, shipping, fulfillment, returns Contribution margin - 35% Paid media, influencer, creative EBIT margin - 25% Headcount, tech costs, other opex Agree/disagree?
At today's DTC public comps, with the proliferation of private credit, there's a high percentage of brands in this market just working for their lenders. Worst part, they don't know it.
What do you call a <$10m revenue eCom/CPG brand: Subscale, small-market, challenger, emerging, startup?
It's rare today seeing an eCom balance sheet without a meaningful debt profile. 1. There was an explosion of private credit in the last 3 years + EIDL + Shopify's native lending 2. A/P was extended during COVID whip, and there's still remnants today This will take a while.
Following “a comprehensive review” of its organizational structure, Canada Goose is cutting its corporate roles by 17%, including COO.
Following “a comprehensive review” of its organizational structure, Canada Goose is cutting its corporate roles by 17%, including COO.
With the updated men's ATP rankings, all of the world's top 10 are European. 😲
Employees managing Founders expectations. Founders managing Investors expectations. Investors managing LP expectations. All kinds of incentives, all directions of game theory.
Sean Frank @SeanEcom
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@asanwal 1 - Solo 401k can get him a ~$69K tax deduction 2 - Can be paired with a defined benefit plan for $100K-$300K tax deduction (depends on his age) 3 - Should ensure that his W-2 salary on the S-Corp is optimized, you want to be minimizing self-employment taxes while maximizing…
My wife and I recently had dinner with a billionaire couple. When they got married the guy was dead ass broke. His business—which he funded with credit cards—had just failed. I asked his wife what she saw in him. Her answer was immediate and just one word: “Character.” She…
$PLTR Tell me I actually just watched Karp pop a Zyn and spin a book on his finger mid-interview 🤣🫰
Alright, I'm up to speed in my new role and I have product I want to get into more hands! Other operators or community folks... can we chat or can @prima plug into anything cool you're planning?
new job 🤝 old job! excited to give the shopper marketing product I helped build in my time at @thingtesting_ a whirl for @prima, my new home. full circle, baby!! link to get a free Prima product below 😬⬇️😛 try.thingtesting.com/37z-B
Looking at an expert in building B2B referral engines... Who has done it and now helps other do it?
The most important concept in finance (as explained by Andre Agassi) awealthofcommonsense.com/2024/03/the-mo…
Condescending BBC d-bag: 0 Guyana President: 1 I thoroughly enjoyed this video of the Guyanese President castrating this "looking over his glasses" pretentious thinkboi h/t @anasalhajji
@francisjfoster bro what are they putting in this guy's sunlight
"Many funds destroy dollar value because they put up great returns on a small capital base, get too much capital and produce poor returns. Investors net have lost money, but the manager is rich. That’s a terrible thing." - Jonathan Tepper (EP.374) With thanks to @enfusion.
Ruth Lee, a hostess at a Chinese restaurant, chose to spend her day off on December 15th, 1941, sunbathing on a Miami beach, as was her custom. In a significant departure from her usual routine, she took a Chinese flag with her to ensure that onlookers would not mistake her for…
Russian advert made to mock Russians that leave for the United States.
deloitte when they see clients using 1985 erp systems
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I’ve since had the talk! Leaving school to work on Cognition was one of the easiest decisions I’ve ever made. The future couldn’t wait and I’m blessed to work with such an exceptional group of people every day.
Today I’m excited to announce our company, Cognition, and share Devin with the world. As a kid, coding was my way of turning ideas in my head into reality. Building Devin is our way of making this possible for everyone. We want to show you all the things Devin can build!!…
A couple notes from my @cognition_labs story today. I first met the CEO @ScottWu46 and his brother @WuNeal when they were teenagers in sport coding competitions. People talked about them with reverential awe. They helped make the US competitive against Russia, China and others.…