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Yeah we talk small business and I love dogs while this is this is the heart of the economy this is what's gonna bring us back from the depths of this recession.
Begins here that's nasty.
For spot delegates alone time so much time you see you again you don't do in the craziest things to keep business going -- -- It's working it is yet you know where -- -- out of the box.
The whole the whole thing with us was we don't like shopping.
And we start off with -- -- impairments tenths my remain with selling mother back this -- at Stanford business school.
And -- -- how do we get these two consumers.
And we found that the whole store -- just wasn't working guys don't like shopping it's time consuming.
And we had a very controversial idea which is let's actually be the first apparel brand to launch on the Internet not to extend onto it but to launch on it.
In here we are now I think three years later the largest apparel brand ever -- over the -- And it's just to be sick parent khakis it's a great fit -- it -- sixth grade.
It's it's a contoured -- spend the better approximate two guys anatomy it's a medium rise it's not too -- it's not too tight.
And that the highest tailored to what you end up with this American guys grew up playing sports they can't squeeze in this in this European fits they pick -- -- -- pants.
It it's cracks -- -- -- it seems so simple and yet and got an online order anything.
Well the thing we didn't know we got going was could you actually build a brand about -- on the wet right and so we set up free shipping both ways.
Lifetime returns and what we -- -- customer service -- -- -- customer services you know seven folks in our offices here in Manhattan they're not at a call center on the other side of the world.
They know the product they know the customers and I think guys actually feel like they're building a relationship with us and that's different from that.
Experience of shopping in stores it's not really building a relationship you -- in it's kind of neutral feelings hate that.
We don't like it we don't we feel a little bit guilty may be a little bit ashamed lake.
Even if you find a product that you like the experience of having spent four hours the mall -- it just doesn't work process that we -- early on that the -- someone help me just isn't isn't what's -- -- you know I think there's something you know there's a quote that says.
A guy should look like he chose -- with cared forgot about the moment he put -- -- In so there's something masculine about looking good but there's not -- asking about having the vanity to spend a lot of time on.
And so we do we made it simple you know great thing pants over the web.
Ten minutes and -- -- doing great things like showing up in people's offices and stuff so this is on the working on right now it's.
The ability to to really like guys -- -- we're we're just prototyping this -- calling the field agents until they used to come here office trying to pants you can try and our new -- -- jackets button down shirts you don't have to start with purple.
Yeah I did this because I went underground at a school for perform what's cool but the idea.
But the idea is let's make it convenient in that field agent program -- another test to see maybe we can build the first direct service program say you're welcome -- say Morgan Stanley.
And those guys were just about to get this going you know and at the end of the day there's a lot of guys buying on the web I mean we're.
We're three times year on year right now relatives where we were last year with its web driven model.
And so did the direct service is that is a task for some subset of guys that aren't comfortable buying online but you know it's amazing where it tens and thousands of guys.
Over the web starting with our pants now they're buying are better fitting casual button -- so yeah we saw a similar problem with button down -- -- -- get all this -- fabric.
-- I don't know if you see around.
-- officers you.
Don't hit the gym regularly but on occasion.
You have your back is just an.
Taylor and well you were -- the company that we hope is educating American guys on how to get in the close actually but them RU PER he worked -- -- -- content -- crap.
Is that kind of part of -- Put into our core customers -- you know he's in cities he's busy cares about what he does.
Athletic or active are you -- used to be athletic guy or -- But he's busy you know and so we say hey you need to get get better -- button down shirt we're gonna -- -- big campaign around our casual button downs are off -- are awesome.
There's just a blog post written by -- guy who spends a lot of time in the men's process that this is the best thing Oxford I've seen.
And now we're extending that -- franchise from pants into button up shirts and jackets.
And jackets and has not gotten the jackets are tricky because what happens is you it's an athletic key and a itself some of those issues we've got the sleeve length and then you've got the -- -- of the actual Coke.
And so what we're trying to figure out is how -- we actually capture that data on what's gonna fit you so that we can get you better fitting jacket at the moment we're seeing really high return rates on.
So works for some guys but others are saying willing you along receiver short sleeve and only get tailored so that was a little bit tricky rebounds and -- are you need to be there.
That's what we're thinking -- or we need to -- really smart tools on the web.
That actually enable us to figure out that from the customer -- -- somehow imitating him into the person's you know there's a lot of innovation happening right now on the web and this is one of the most fascinating things.
When we -- but -- because we're talking about -- -- e-commerce being fifteen billion dollar market.
In four years it's now 32 billion dollar market.
Their predictions that over the course of the next five years it could be as much as 25 to 30% of all of retail the most bullish are that it's -- behalf.
I mean this is a fundamental transformation where you know Amazon and Wal-Mart you know Amazon is -- -- be Wal-Mart in my opinion in a decade and so the opportunity to build.
Small business right now on the -- it's just fantastic.
-- when I was rather loved having you back it's it's also I think.
You just offered greeted by some -- realize is that you're out there -- trying something it didn't work.
You're seeing that you get on -- returns on it yet.
-- -- -- to figure it out is that one of the big states that entrepreneurs make they're still married to an idea -- that they don't think out of the box well.
It's really tough because you need the conviction in the passion to start in the first place we knew that we couldn't.
Find great fitting pants when you that the existing went shopping for the most challenging but -- then need to have the self awareness to be able to pay that.
Right in light of the information you're getting.
So you need to conviction to have a starting point but the humility.
To move from that starting point as you start to get data from the market and from consumers -- and social media into an all -- to help -- Make decisions it's unbelievable you know I think we've been very lucky here we started the business in 2007 at the time.
It was unclear FaceBook or MySpace -- It wasn't.
A done deal the -- Phnom arrangement take off Twitter we had even heard of and now these two tools -- really enabled us to build our business so targeted advertising on FaceBook is a fantastic way to bring in new customers.
The conversation with customers on FaceBook and Twitter enables you to actually build that relationship.
And to get input -- a lot of people use it to say.
Hey -- with us here's a sale.
They're marketing but they're not listening and we like to listen so we we actually said what's the next biggest problem you guys have to have after -- and we heard about this issue of the building shirts.
That's where informed us moving in to -- -- So.
It's it's think it's a good time -- and I asked her to get out there.
Just fantastic time.
Yeah I mean -- the capital markets are great there Angel investors -- -- looking to put their money elsewhere other than in the public equities.
On the venture capital market is doing wonderful thing a wonderfully we just priest -- funding round last December from -- and light speed.
Excel just opened an office here in New York City you know four years ago I was in my bedroom with -- -- pants.
Thinking I was doing this alone you know out fairly commerce it's me against the -- it turns out there's another twenty companies in New York.
You know -- -- group to rent the runway there are just fantastic business is rising in New York City.
In this brand new -- -- exist five years ago apparently commerce.
And rental and right for example.
It -- and it's I don't wanna go by Jasper wedding I rented for three days and send it back right and that's that you guys did is that the advice you would give -- -- -- Figure out what's missing.
Solve -- problem that you have yourself.
Right nothing is more authentic then when you have a problem you you you yourself see.
And one of the guys who talks a lot about Angel -- says there's two kinds of entrepreneurs.
There's a kind of tell I wanna do this for my next step in my career because I don't back that -- The kind that -- -- people that say I can't believe the world exists.
With this problem right I have to make it go away like I I don't even need to be paid to do this.
And in 2007 I was watching -- -- itself pants out of that was -- -- thought to myself there's got to be a better way forgot to shop.
This product is great there's got to be a better way it folks that you can't do that you can't launch a brand online you can sell -- -- existing store distribution brand.
On the Internet or you can launch -- retailer but we said maybe we can launch a brand online and now you know here we are turns -- that's -- what do you think was the turning point where it took off.
No I remember -- a moment in late 2008.
And we we've got a first 2000 customers all through word of mouth.
And I was walking on the street Manhattan and I saw that we have we put some of liner pocketing in the back pockets you can kind of -- South the guy said of those but Obama's -- yeah god I love these pants.
And he was the first person I met in the wild as we call -- who I had no connection to whatsoever.
And -- without saying why was he was telling me about the customer service.
You know how great the product is buying on the web.
You know I heard the pitch from him and I knew that we had built a web driven word of mouth phenomenon.
And you in that first year you can spend a lot of money on marketing but if you can actually have your customers doing the marketing.
I think that's when you know you've arrived and social media insurers -- on that quickly before we go tell everyone why it's called the notebooks.
Okay so there's this fantastic animal there's five great -- We know about chimpanzees -- no -- talks about the -- the most known for their promiscuity so they they get they have a controversial reputation.
But the reality is is this is the most empathetic animal -- animal kingdom no no warfare.
They don't kill each other you know this is a real role model in terms of how we can behave so we thought we -- to build a fine here reverent.
-- here's -- -- clay -- -- we thought the Lenovo was the right animal to.
And do you parts of your profits go to the charity well this is the -- -- there's only between 10151000 left they live in a country that Democratic Republic of Congo where human beings aren't safe let alone.
-- -- of -- I'm going this weekend to visit with falling whistles which is an organization.
Looking to alleviate.
Some of the issues of human suffering in the Congo the first year we might have free elections there.
And so this is it this is an -- to pay attention to not to speak for who they are.
But for the country that they live in which is I think now the biggest genocide we've seen.
Since the Holocaust seven million that so we're trying to do what little we can.
We've we've we've sent what I would -- 100% profits this -- we haven't cracked a profit yes.
To to the bonobos is a great organization called -- ya -- it's an orphanage they take care of benevolence -- my parents have been killed for food or for money.
So we're trying to do a little bit and there's there's more to dip.
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