The Partnership Economy explores the power of partnerships through candid conversations and stories with industry leaders. Our hosts, David A. Yovanno, CEO and Todd Crawford, Co-founder, of impact.com, unpack the future of partnerships as a lever for scale and an opportunity to put the consumer first.
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Contenuto fornito da Danny McMillan. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Danny McMillan o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
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Buying Back the Brand - The Story of Beast Gear with Ben Leonard
Manage episode 462513738 series 1719045
Contenuto fornito da Danny McMillan. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Danny McMillan o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Buying Back the Brand - The Story of Beast Gear with Ben Leonard Welcome to Seller Sessions with Danny McMillan. Today, Ben Leonard, founder of Beast Gear, shares his journey of selling, watching the decline, and buying back his brand. He offers insights into brand management, resilience, and reclaiming a damaged asset. The Birth of Beast Gear and Its Early Success
…
continue reading
- Origins of Beast Gear: Ben launched Beast Gear as a strength and conditioning brand while working in oil and gas. By 2019, it reached $6M in annual revenue, becoming the largest in the UK and Europe.
- Sale of the Brand: In 2019, Ben sold Beast Gear to an aggregator in the first European acquisition of its kind. The offer was life-changing, supporting Ben's growing family and personal goals.
- Aggregator Mismanagement: Ben observed how the aggregators, driven by financial motives rather than e-commerce expertise, failed to maintain Beast Gear’s quality and brand identity. This resulted in the erosion of the “soul” of the brand.
- The Fallout: By late 2023, the aggregator faced Chapter 11 bankruptcy, struggling with its portfolio of over 200 brands, which it eventually downsized to fewer than 50.
- Romantic Yet Strategic Move: Ben combined emotion with pragmatism, starting with contacting former aggregator contacts and leading to complex negotiations.
- The Deal: Ben and a former aggregator founder acquired Beast Gear among distressed brands, with minimal upfront costs, consignment inventory, and an earn-out model.
- Market Evolution: The e-commerce landscape is now more competitive, but Ben sees opportunities to leverage his experience and the brand’s history.
- Addressing Competition: Competitors often fail to build authentic customer relationships. Ben aims to revitalize Beast Gear’s identity and reconnect with its loyal audience.
- The US Market: Not entering the US market was a major regret. Ben sees it as a significant opportunity for future expansion, despite brand recognition challenges.
- Mitigate Risks: Minimize upfront investment and use consignment for inventory.
- Leverage Relationships: Use your brand knowledge to position yourself as the best buyer.
- Stay Rational: Ensure the deal is financially sound, not emotionally driven.
- Be Prepared for Challenges: A buyback often means rebuilding a damaged asset from scratch.
- Website: BrandRescueMission.com
- Email: Ben@BenLeonard.Pro
596 episodi
Manage episode 462513738 series 1719045
Contenuto fornito da Danny McMillan. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Danny McMillan o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Buying Back the Brand - The Story of Beast Gear with Ben Leonard Welcome to Seller Sessions with Danny McMillan. Today, Ben Leonard, founder of Beast Gear, shares his journey of selling, watching the decline, and buying back his brand. He offers insights into brand management, resilience, and reclaiming a damaged asset. The Birth of Beast Gear and Its Early Success
…
continue reading
- Origins of Beast Gear: Ben launched Beast Gear as a strength and conditioning brand while working in oil and gas. By 2019, it reached $6M in annual revenue, becoming the largest in the UK and Europe.
- Sale of the Brand: In 2019, Ben sold Beast Gear to an aggregator in the first European acquisition of its kind. The offer was life-changing, supporting Ben's growing family and personal goals.
- Aggregator Mismanagement: Ben observed how the aggregators, driven by financial motives rather than e-commerce expertise, failed to maintain Beast Gear’s quality and brand identity. This resulted in the erosion of the “soul” of the brand.
- The Fallout: By late 2023, the aggregator faced Chapter 11 bankruptcy, struggling with its portfolio of over 200 brands, which it eventually downsized to fewer than 50.
- Romantic Yet Strategic Move: Ben combined emotion with pragmatism, starting with contacting former aggregator contacts and leading to complex negotiations.
- The Deal: Ben and a former aggregator founder acquired Beast Gear among distressed brands, with minimal upfront costs, consignment inventory, and an earn-out model.
- Market Evolution: The e-commerce landscape is now more competitive, but Ben sees opportunities to leverage his experience and the brand’s history.
- Addressing Competition: Competitors often fail to build authentic customer relationships. Ben aims to revitalize Beast Gear’s identity and reconnect with its loyal audience.
- The US Market: Not entering the US market was a major regret. Ben sees it as a significant opportunity for future expansion, despite brand recognition challenges.
- Mitigate Risks: Minimize upfront investment and use consignment for inventory.
- Leverage Relationships: Use your brand knowledge to position yourself as the best buyer.
- Stay Rational: Ensure the deal is financially sound, not emotionally driven.
- Be Prepared for Challenges: A buyback often means rebuilding a damaged asset from scratch.
- Website: BrandRescueMission.com
- Email: Ben@BenLeonard.Pro
596 episodi
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