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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Any guesses on which line item monetizes the best?
Any guesses on which line item monetizes the best?
We've had three lenders in the past week reach out pitching a switch, and then this 🤯. It's a cold, cold world out there. 🥶
Great scoop by Business of Fashion. One of these happened last week with Knot Standard being merged into Billy Reid, I wonder how the other two are going:
Great scoop by Business of Fashion. One of these happened last week with Knot Standard being merged into Billy Reid, I wonder how the other two are going:
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?
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LOVE this one about losing money...the GREAT funds lose money more than the GOOD funds
@cdixon Great Funds aren't afraid to lose money Great Funds lose money just a little bit more than Good Funds
The best way I've heard it described is with kids, you trade in fun for joy
Stunning view from the gates of the Hotel Villa Cipressi in Lake Como, Italy
I'm so impressed with @PeterAttiaMD who has built a longevity solution for customers at every possible price point: - The Drive Podcast: Free - Outlive Book: $20 - The Drive Podcast Membership: $149/year - Early Medical Cohort Based Course: $2,500 - Biograph Comprehensive Annual…
There's an interesting phenomemon where LPs/GPs will exclusively talk about 1-3 great deals a firm has done when discussing its performance, even if those deals represent a tiny fraction of the firm's assets. Further evidence that being 'great' is downstream of being prolific.
It seems like the surest way to fail as a DTC or media company is to raise outside money and hire lots of people. Can't think of a more bimodal outcome where bootstrapped/lean = huge succes and VC/big team = huge failure.
TIL Thomas and George Kurian are identical twins. They both grew up in India, came to the US to study at Princeton, did Stanford GSB, McKinsey, Oracle. Thomas is the CEO of Google Cloud George is the CEO of NetApp ($21B market cap) impressive af!
I’m looking at a lot of VC backed companies stuck in something like this: - ARR: 1x - Net burn: 1x-2x - Cash in the bank: 0.5x - Runway: less than 6 months - Growth: less than 25% - Capital raised: 15x - Valuation: 50x Now, the founders have no options. They can’t raise the…
@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