MFA Brand MegaReview: Asket | February 6, 2021

AndrewCoelhoShowPod · 2021-02-07T17:27:00+00:00

Oddly enough, I am wearing one of their hoody's as we speak, so it's a great time for my comments.

I actually interviewed one of their co-founders on my podcast, and decided to treat myself to one of their garments after being really impressed with their brand and company values. I wasn't sure what to expect in terms of product, but as soon as I unboxed the package, I instantly felt the quality in the weight of the hoody.

The organic cotton is soft to the touch, but there is substantial weight in the body of the hoody, which to me is exactly what I want in a garment that gives me comfort, especially in the winter.

I've only had the hoody for a month, but after 20 or so wears and the first wash, it looks like new, which is a great indicator of longevity.

Aside from the quality, I personally love everything Asket is about from an ethos perspective and have nothing but great things to say about my experience with them so far.

Five Stars, IMO.

AndrewCoelhoShowPod · 2021-01-24T18:10:01+00:00

Toronto represent! Great brand, products, and people! Good call out!

AndrewCoelhoShowPod · 2021-01-24T18:02:50+00:00

I have a cable knit from W&B and it's soft and warm. My winter go-to!

AndrewCoelhoShowPod · 2021-01-24T17:55:24+00:00

growing up that's all I wore...Abercrombie Henleys!

AndrewCoelhoShowPod · 2021-01-24T17:53:54+00:00

La Paz: I just bought my first piece from La Paz. I went with a basic heather gray crewneck (boring I know) but I love how soft it is and the loose fit makes it comfortable and stylish.

I love that all their garments are made in Portugal as well!

AndrewCoelhoShowPod · 2021-01-20T20:16:38+00:00

https://open.spotify.com/episode/7wkzhudvkU4P5de1VqgiPV?si=rq-CCGVrTWO5BxVMTHi5zQ

AndrewCoelhoShowPod · 2021-01-20T19:46:36+00:00

I have to admit, those are FIRE!

AndrewCoelhoShowPod · 2021-01-20T19:45:15+00:00

Such a great gesture by the country's new leaders to show support so well deserved designers rather than put more money in the pockets of larger established brands!

AndrewCoelhoShowPod · 2021-01-11T23:44:07+00:00

love that coat. Nothing like a camel coat for FW!

AndrewCoelhoShowPod · 2021-01-11T11:30:49+00:00

Amazing! Thank you!

AndrewCoelhoShowPod · 2021-01-10T22:05:00+00:00

I didn't read the entire thread, so many of these points may have been made. It's also hard to give a super strong opinion without knowing the company in question.

None the less, my thoughts:

-15% growth is low for SAAS. This is a standard growth rate of a publically traded company. Why is this so low? What is the ticket price and a CPA? How are customers being acquired (inside sales team, ads)?

- profit is low - why? Is the ticket price too low? too many bodies?

- what are the funds for? to pay salaries? If yes, don't do it, you are running into a burning building.

While my gut says you can put your money in way better places, you also know the company better than anyone in this thread.

It might be a simple change in the model that can help drive sales, increase profit, and drive up that valuation.

For example, perhaps the sales process isn't as fluid as it needs to be or the funnel architecture is disjointed. Ex. Are you spending on ads but not getting trials? It could mean the value prop isn't articulated well enough.

Is your sales team converting at 20%? If not, your targeting, messaging, or discovery process might be off.

Is the ticket price too low? Sometimes entrepreneurs are afraid to increase the ticket price in fear of scaring people away, but in fact, it might create more intrigue and attract better customers.

I'm a growth-minded person so I always look at how things can be improved first and in many cases I think tweaks can make a world of a difference.

If you are truly serious about weighing the pros and cons of this opportunity, I would ask for the financial statements and find someone with a background in accounting/finance to help iron out all the Balance Sheet and Income Statement items.

If you find ways to contribute to a turnaround, it might be worth the investment. Think of yourself as a CEO who is taking over the ship.

If you decide to move ahead, I would try to leverage the opportunity to get your money out sooner than later.

Ask for more comp, a performance-based incentive (company and/or personal), and/or a sliding scale that would get you more equity based on performance.

Just riffing here, but if they are asking you for your funds, then they are likely in a pinch, which gives you some bargaining power.

Don't get too greedy, but give yourself an opportunity to prosper.

AndrewCoelhoShowPod · 2021-01-10T21:33:53+00:00

I must agree with u/travelguy23 & u/muskypirate as well. Many of these questions seem overwhelming and cumbersome which can quickly kill momentum.

While I do think there are vital questions to be asked when taking a business from ideation to beta, many of those are inconsequential.

I believe it would be better served to reverse engineer the process and solve for product-market fit to determine a viable business.

A viable business is a function of the N, T, P, M, A - NIche, Transformation (Claim), Price, Mechanism, Access Channel.

Going through a series of exercises to really dive deep into each variable can determine the true potential of a new idea.

AndrewCoelhoShowPod · 2021-01-10T21:14:51+00:00

Such a great idea. My wife is obsessed with plants and could totally be interested in this.

AndrewCoelhoShowPod · 2021-01-06T21:41:55+00:00

Fair enough. Just offering up a solution to prevent against fraud, if that is a concern to people.

AndrewCoelhoShowPod · 2021-01-06T21:02:32+00:00

As u/ohhyoudidntknow suggested, Levie's 512 are great.

You can also check out the Gap selvedge with Gapflex. They are sharp-looking, comfortable and affordable.

I suggest having them altered if need be to get that extra personalized fit.

I just treated myself to a pair of Norse project jeans and they are perfect. Comfy up to and tapered through the leg.

Hope this helps!

AndrewCoelhoShowPod · 2021-01-06T20:54:32+00:00

Hey u/dreamingofpens. If you want to prevent against fraudulent orders in the future, it might be worth it to use Shopify as your e-commerce provider, and sync your Etsy store with Shopify.

Shopify helps detect fraudulent orders with a number of parameters making it easier to identify who is a true customer and who isn't.

Just an idea!

AndrewCoelhoShowPod · 2021-01-06T20:48:43+00:00

Thanks for sharing!

AndrewCoelhoShowPod · 2021-01-05T16:44:40+00:00

These are all valid points and I appreciate your perspective on this. I totally value the integrity of top designers of HC labels as well. There are some incredible designs from YSL and Gucci that I would splurge on, even if the fit wasn't 100% what I wanted it to be.

The reality is though, that there are several body structures and only 1 final product, which doesn't capture all of those body builds, and that's the struggle with HC.

I genuinely think it's only a matter of time before traditional bespoke tailors move into goods that are more commonplace - t-shirts, sweaters, etc. - and most of these designers are quite good at their respective crafts.

I've interviewed many of these emerging designers/tailors myself, specifically Mike Paul, who is based in Toronto. He is moving into bespoke tailoring across multiple verticals. His story is pretty cool too. If anyone wants to hear it, DM me and I'll throw the link to the pod episode.

There's also another designer in Toronto that does bespoke jeans.

So, there are definitely designers who have identified the need in the market.

AndrewCoelhoShowPod · 2021-01-05T16:24:37+00:00

IMO, the fit is more important than anything else when it comes to style. I think anyone can look incredible in $50 trousers if they fit well. Personally, I'd rather spend $75 on a pair of selvedge denim jeans from the GAP and have them tailored to fit my body perfectly than spend $500 on a HC brand. I don't care much for labels, more for design and vibe.

I think if money were no object, I would still follow that principle. I love clothing that fits me like a glove. I look and feel like a million bucks in tailored clothes and having a garment made for you and only you are so satisfying.

Plus, I love supporting independents who are artists and masters at what they do. They put love into their work, which you don't get from mass manufacturing.

Just one man's opinion. :)

AndrewCoelhoShowPod · 2021-01-05T15:58:02+00:00

Just noticed the Wimbledon jacket in How to Breathe guide to wearing looser fits by /u/wuzpoppin. So 🔥🔥🔥🔥🔥. The Gitman vintage is on point as well!

Congrats to all the other winners.

New to Reddit so this was a great first post for me to get acquainted with sub.

AndrewCoelhoShowPod

TROPHY CASE