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The Story of a Brand Show

GREATS - Protect Your Team, Contribute to Community, Grow

The Story of a Brand Show

Ramon Vela

Business, Entrepreneurship

4.9147 Ratings

🗓️ 22 May 2020

⏱️ 31 minutes

🧾️ Download transcript

Summary

For Ryan Babenzien, Founder of GREATS, the first digitally native luxury sneaker brand, COVID-19 changed everything. Basically, their sales collapsed. They also chose to stop all of their marketing. It just didn't feel right. Instead they changed their message to help the community. And they followed a formula to get through the crisis. First, protect the team. Second, contribute to the community (their customers), and Third, grow.  Join us while Ramon Vela interviews Ryan in Part 1 of this episode and listen to him share the inside story of a brand.
 
In Part 1 of this episode, Ryan discusses Why for them digital native is not about online only but online mostly, The GREATS origin story, The story of their launch, Why an entrepreneur's job is to turn red lights into green lights, Why entrepreneurship is not about intelligence or capital, Why he things entrepreneurship can't be taught, How luck plays a huge part of success, Why business fail, What really makes a brand successful, How entrepreneurship intensifies your strengths and your weaknesses, The GREATS response to COVID-19, Why he's rethinking working in an office, When your sales collapse, Why they decided to pause marketing, The three things they did to respond to COVID-19, and so much more.
 
For more on GREATS visit: https://www.greats.com/
 
 
The Shoppy Awards: https://theshoppyawards.com/ (20% discount use SOB20)

Transcript

Click on a timestamp to play from that location

0:00.0

Recorded at Retention Science Studios.

0:08.1

This is not your average entrepreneur or e-commerce podcast.

0:12.0

And he's not your average host.

0:14.5

This is The Story of a Brand with your host, Ramon Vela.

0:21.1

Make something that lasts a long time

0:23.5

and both physically and trend-wise.

0:28.2

So if you're making trendy things,

0:30.7

they can be well-made and they can be really beautiful

0:34.1

and they can be made of premium materials.

0:36.1

But if they're trendy and that trend

0:38.6

sort of goes away quickly and that product sort of sits in the shelf in a very short

0:44.2

amount of time and you know I use this equation around use per wear, you know, it's not

0:49.2

really what you pay for the thing, how much you wear it and then sort of divide that number of what you paid for it

0:56.0

to by the time you wear it and you'll find like in grades case like people wear it every day.

1:01.0

So it's got a great value in these per wear.

1:05.0

So responsibility was not our core thing when we started, but we were doing it organically

1:10.0

and then we started to realize,

1:11.9

hey, it's our job to do our part as a business, to be as responsible as we can as a company.

1:20.0

We're doing most of this stuff anyway. And let's sort of like lean into that and make sure

1:24.7

we're using materials. In addition to all the things we're already

1:28.9

doing, like, let's make a thing out of recycled plastic. There's no reason we need to make our knit

1:33.9

shoe from virgin plastic. So we launched that about a year and a half ago. We're coming out with

...

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