The Best One Yet – Episode Summary

Episode Title: 🪽 “Fashion Show 2.0” — Victoria’s Secret’s resurrection. Coterie’s $1B diaper. Ikea’s price pop. +Moneycrisp Apples
Hosts: Jack Crivici-Kramer & Nick Martell
Release Date: October 17, 2025
Length: Approx. 26 mins

Overview

Hosts Jack and Nick deliver their signature “T-boy” treatment to three pop-business news stories—Victoria’s Secret’s fashion show comeback, Coterie’s billion-dollar luxury diaper acquisition, and IKEA’s price hike under US-China trade war tariffs. Woven throughout are signature banter, memorable analogies, and a relatable, quick-witted tone that keeps business news light yet insightful.

Moneycrisp Apples: The Profit Puppy of the Orchard (02:01–03:30)

Key Points

• The Most Profitable Apple:
  • The hosts ask what the most profitable apple to pick is—not Macintosh, Cortlandt, or Gala, but the Honeycrisp.
  • “According to the Wall Street Journal, the Honeycrisp apple is the profit puppy.” — Jack (02:18)
  • Price for a carton of Honeycrisp hits a record $70—double Fuji, triple Red Delicious.
• Farmers Call Them 'Money Crisp':
  • Despite premium profits, farmers dislike Honeycrisp because they’re fragile, big, and disease-prone:
    • "Apparently, they're the diva of the apple industry." — Nick (02:46)
  • Created at University of Minnesota, even the creators initially trashed it for lack of durability.
• Market Irony:
  • 37 years later, the once-rejected Honeycrisp commands a high price.
  • “Granny Smith never saw it coming.” — Jack (03:28)
• Memorable Moment: Light-hearted banter about apple picking’s role in both arguments and proposals and how apple picking is essentially paying to do farm labor (01:50–02:10).

[Story 1] Victoria’s Secret Fashion Show Resurrection (06:25–10:58)

Key Points

• Comeback After a Five-Year Hiatus:
  • The iconic lingerie runway returned, drawing both critical and Wall Street acclaim.
  • Stock is up 2% since the show, 10% in a week, and doubled since April.
• Years of Decline:
  • Ten years ago, Victoria’s Secret had 33% market share—now only 18%.
  • Suffered a ‘triple whammy’:
    1. Missed Industry Trends: Ignored the bralette movement.
    2. Toxic Leadership: CEO Les Wexner’s ties to Jeffrey Epstein.
    3. Fierce Competition: Skims (Kim Kardashian’s brand) is now nearly twice as valuable, at $4B.
• Fashion Show’s Cultural Tightrope:
  • Cost $40 million to produce (comparable to five Super Bowl ads).
  • Intentional scheduling to avoid sports competition.
  • Tried to be inclusive yet aspirational in the “post-DEI moment”—even included a model who was seven months pregnant.
  • “The models had wings on their back again... but none of those wings had feathers like in the past. Yeah, it was basically a vegan wing situation going on.” — Jack & Nick (09:13–09:21)
• Business Insight:
  • Victoria’s Secret is following Abercrombie’s “comeback blueprint”:
    • Documentary-worthy brand toxicity.
    • Transition to female leadership, eliminating outdated/cringy brand elements.
    • Refocusing on core products and rehabilitated brand equity.
  • "Time heals wounds, including a brand's wounds. And right now, millennials are remembering the positive brand equity from the past and forgetting the recent brand bruises." — Nick (10:52)

[Story 2] Coterie, the $1 Billion Bougie Diaper (11:06–15:37)

Key Points

• The Acquisition:
  • Mammoth Brands (parent of Harry’s) acquires Coterie for up to $1B.
  • “Even a dirty diaper can be an adult’s status symbol.” — Jack (11:14)
• Harry’s Business Evolution:
  • Started as DTC razors; now a CPG conglomerate (razors, skin care, deodorant, baby wipes, and diapers).
  • Mammoth is the new umbrella, eyeing an IPO.
• Coterie’s Business Model:
  • Luxury diapers at ~$95/month, 35–70% more expensive than Huggies/Pampers, nearly three times Costco’s price.
  • "This is the Bulgari of blowout blocking over here." — Nick (12:08)
  • ~$200M in annual revenue, 60% YoY growth, profitable.
• Why Pay More?
  • Diapers are “the staple-est of staple goods.”
  • Coterie targets parents—not babies—as their real customer; emphasizes status and “premium” care for kids.
  • “Nobody buys a Rolex to tell them the time. They buy it for the message it sends.” — Nick (15:26)
  • "Every category needs its Rolex. There’s always an opportunity for a status symbol." — Jack (14:24)
  • Recent parallel to Lamborghini’s $6,000 stroller for status-conscious city parents.
• Insight:
  • Every product category, even diapers, can succeed at the high end by signaling status and taste.

[Story 3] IKEA’s Price Hike — Trade War Fallout (17:40–21:26)

Key Points

• The Price Pop:
  • Ikea, long a champion of rock-bottom pricing, is raising prices for the first time in its history because of new US tariffs on imported furniture.
  • "IKEA is raising prices right now, not lowering them." — Nick (18:41)
• Trade War Details:
  • Only 15% of IKEA furniture in America is made domestically.
  • Shifting production to the US would increase costs more than paying tariffs.
  • Example: Flugen sofa goes from $900 to $975 (20:01)
• IKEA’s Founder & Company Ethos:
  • Ingvar Kamprad: billionaire who flew economy, reused teabags, and was “stingy and proud.”
• Tariffs as a Hidden Tax:
  • Tariffs are effectively the largest sales tax in US history—only on imported goods.
  • "JP Morgan called Trump’s ‘Liberation Day’ tariffs the biggest tax increase in the United States since 1968." — Jack (20:30)
  • $125B more in tariffs collected than the prior year.
  • Initially absorbed by businesses; now, 55% passed to consumers (Goldman Sachs).
  • S&P: Tariffs will cost Americans an estimated $1.2 trillion in 2025, with consumers bearing two-thirds.
  • "The biggest tax increase in US history is the hardest one to pin down." — Jack (21:26)

Notable Quotes & Memorable Moments

• On Apple Picking & Honeycrisp:
  • “The humble Honeycrisp... bringing in coconut levels of cash.” — Nick (02:39)
• On Victoria’s Secret Fashion Show:
  • “The Angels hung up their wings. What seemed at the time for good.” — Jack (07:51)
  • "The hottest thing at the Victoria’s Secret Fashion show? The P and L." — Nick (09:48)
• On Coterie Diapers:
  • “That’s the Bulgari of blowout blocking over here.” — Nick (12:08)
  • "Profit Puppy." — Jack (13:40)
• On Ikea’s Price Increase Amid Tariffs:
  • “Tariffs are taxes. It is a sales tax, but only on the stuff bought overseas.” — Nick (20:23)
  • "The biggest tax increase in US history is the hardest one to pin down." — Jack (21:26)

Timestamps for Important Segments

• Moneycrisp Apple Profit Story: 02:01–03:30
• Victoria’s Secret Fashion Show & Comeback: 06:25–10:58
• Coterie $1B Diaper Acquisition: 11:06–15:37
• Ikea’s Price Pop & Tariffs: 17:40–21:26

Additional Quick Hits (21:32–23:40)

• Waymo: Announces first international expansion to London and food delivery in Phoenix via DoorDash.
• Infrastructure: President Trump cancels the $27B Hudson River Tunnel project in retaliation against political opponents.
• Legal: Smucker’s sues Trader Joe’s over “Uncrustables” lookalike PB&J sandwiches.

Closing Notes and Fun Facts

• Quick Fact: The word “silhouette” refers to Étienne de Silhouette, a French official known for his frugality—origin of the modern word as something low-cost (24:06).
• Favorite Words: “Lycanthropy” (Jack) and “Silhouette” (Nick).

Episode Tone

Playful, energetic, and witty, Jack and Nick excel at breaking down complex business stories into digestible, memorable narratives. Their banter, pop-culture analogies, and real-life references make each story feel fun, urgent, and relevant.

For more: Find “The Best One Yet” wherever you get your podcasts, and check the episode description to submit fun facts or get a birthday shoutout!