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How Yeti Survived a Pandemic—and Private Equity
In April, clothing sales fell 79 percent in the United States, the largest dive on record. Purchases of sweatpants, though, were up 80 percent. Entireworld was like the rare life form that survives the apocalypse. By betting that the luxury market would fail, Sternberg had evaded the very forces that were bringing down the rest of the industry.
Irina Aleksander • Sweatpants Forever: How the Fashion Industry Collapsed
He was hailed a hero by some and met with predictions of bankruptcy from his critics.
But that has not happened; instead, the company is thriving.
"So you've almost doubled the number of employees?" CBS News' Carter Evans asked.
"Yeah," Price replied.
He said his company has tripled and he is still paying his employees $70,000 a year.
"How much do you... See more
But that has not happened; instead, the company is thriving.
"So you've almost doubled the number of employees?" CBS News' Carter Evans asked.
"Yeah," Price replied.
He said his company has tripled and he is still paying his employees $70,000 a year.
"How much do you... See more
CEO on why giving all employees minimum salary of $70,000 still "works" six years later: "Our turnover rate was cut in half"
As uncertain as the business world can be, one surefire way to know you’ve built something great that is primed to grow and scale is when your competitors start either copying you or suing you, sometimes both. Or like Jenn Hyman in good times, and Curt Jones in bad ones, when investors come knocking on your door unsolicited, ready to write a check.
Guy Raz • How I Built This
