The Startup CPG Podcast · 12 Jul 2024 · 33m · Episode 57
Matt Jacobs and Kristen Hogan Doyle, co-founders of Pedestrian Project, discuss modernizing the foot care category with clean, efficacious products like Walker's Cream and Cracked Heel Repair. They detail their 12-16 month product development process, involving podiatrist partnerships and rigorous testing, to create salt soaks, balms, and upcoming insoles. The founders explain their bootstrapped, direct-to-consumer strategy, leveraging content creation, sampling, and affiliate marketing to educate consumers and drive repeat purchases while navigating supply chain challenges and a shrinking fundraising market.
early-stage companies
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Guy Raz and Kenneth Cole advise three founders: Matt Jacobs of Pedestrian Project on destigmatizing foot care and balancing category education vs. conversion; Emefa Fakwade of ISRAELLA KOBLA on leveraging wholesale partnerships like Nordstrom to build a direct-to-consumer brand without losing control; and Levi Case of Swing Sculpt on expanding from custom golf sculptures to broader sports memorabilia and reducing purchase friction for a novel product.
Steven Sashen and Lena Phoenix, founders of Xero Shoes, recount their journey from DIY rubber sandal kits to a $50 million minimalist footwear brand. They detail early manufacturing failures with a Korean factory, the pivot to China, and the viral impact of their Shark Tank appearance. The episode covers their product design philosophy, supply chain challenges including tariffs and debt, and their strategy for scaling through direct-to-consumer channels and community engagement.
Steve Madden, founder of Steve Madden Ltd., explains how he built a $3 billion shoe brand by targeting an underserved Gen X demographic with high-fashion designs at affordable prices, starting with a backless clog. He details his controversial path to going public via Stratton Oakmont, which led to securities fraud charges and a 31-month prison sentence, before returning to the company in 2005 to scale it through strong leadership and product focus. In a post-script, Gabrielle Goodwin and her mother Rozalynn describe inventing GaBBY Bows, a double snap barrette that solves the problem of hair accessories slipping out, moving from a home prototype to retail distribution in 74 Target stores.
David Heath and Randy Goldberg, co-founders of Bombas, explain how they identified a gap in the sock market after learning socks are the most requested item at homeless shelters. They leveraged Heath's father's connection to industry veteran Steve Loenthal to develop a high-quality cotton sock with features like a seamless toe and honeycomb arch support through extensive prototyping. The founders bootstrapped the initial launch via an Indiegogo campaign, which raised $140,000, and later secured a deal on Shark Tank with Damon John that provided inventory financing rather than equity. They deliberately avoided venture capital to maintain control, focusing on sustainable growth and profitability, which allowed them to expand into apparel while maintaining their one-for-one donation model.
Jennifer Harris, co-founder of Motivo, explains how she and her design partner Jeremy Canopo reinvented the mobility walker by applying user-centered design to a stagnant market. They worked with over 300 users to develop the Motivo Tour, a sleek, contemporary walker that addresses the stigma and ergonomic failures of traditional bent-tube models. The episode details their journey from garage prototyping to scaling production, highlighting their decision to manufacture in the USA and maintain control over shipping and quality to ensure a premium customer experience.
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