The Business of Fashion Podcast: How Skims and On Create Cultural Relevance

Release Date: December 6, 2024

Introduction

In this episode of The Business of Fashion Podcast, host Imran Ahmed welcomes two influential figures from the fashion and sportswear industries: Jens Gried, Co-founder and CEO of Skims, and David Alleman, Co-founder and Executive Co-Chairman of the Swiss sportswear brand On. The discussion delves into how these brands have successfully tapped into the cultural zeitgeist by intersecting fashion with sports, creating significant cultural relevance.

Founding Stories

Skims: Jens Gried

Jens Gried shares the inception story of Skims, emphasizing the importance of product innovation before brand building. He states,

"Before you have an idea about a brand, you need to have an idea about a product. And I always say when people ask me about what is the story of Skims... it's something that it's out there that people are partaking, even if they're not customers of the brand." [03:07]

Gried explains that Skims was born out of a desire to innovate in the shapewear category, which he identified as underserved and ripe for disruption. The focus was on developing advanced fabrics and ensuring product excellence as the foundation of the brand.

On: David Alleman

David Alleman recounts the founding of On, highlighting its roots in Switzerland and the initial innovative approach to sports footwear. He narrates how co-founder Olivier Bernhard, a duathlon world champion, questioned the lack of innovation in shoe outsoles.

"He had a lot of time to think about innovation in footwear... how can we innovate on the engineering?" [06:49]

This led to the creation of the Cloudtec technology, which revolutionized shoe cushioning and responsiveness. Alleman emphasizes that On's journey was marked by grassroots innovation and a commitment to creating premium sportswear that blends functionality with style.

Intersection of Sports and Fashion

The conversation shifts to the burgeoning synergy between sports and fashion, a trend that has accelerated over the past 12 to 24 months. Both Gried and Alleman agree that sports have become a powerful platform for cultural expression and brand engagement.

Gried notes,

"Sport is this great unifying platform where everyone can partake... if you have a brand like Skims and you want to reach a broad demographic, sport is the platform to do it." [12:18]

Alleman adds that sports' integration into daily life has elevated it to a fashion statement, creating opportunities for brands to innovate and connect with consumers on a deeper level.

Collaborations and Partnerships

Skims Collaborations

Jens Gried discusses Skims' strategic collaborations with high-profile partners to enhance brand visibility and cultural relevance. Highlighting a recent collaboration, he shares details about the partnership with Dolce & Gabbana:

"This is our second large collaboration with an Italian fashion house. The first one was a few years ago with Fendi... we have a very defined aesthetic lane... it's exciting for us." [18:18]

Gried emphasizes the importance of organic partnerships that bring unique value to both brands and their customers, ensuring that collaborations resonate authentically with their audiences.

On and Roger Federer

David Alleman recounts the organic partnership with tennis legend Roger Federer, which exemplifies On's approach to brand alliances. The relationship began when Federer, seeking innovative tennis shoes, engaged directly with On:

"Roger posted in On shoes from Roland Garros... he was kind of in his own liberation moment. We had a dinner date and hit it off... he became a co-entrepreneur." [09:22]

This collaboration underscores On's commitment to aligning with athletes who embody the brand's values of innovation and excellence.

New Skims x Dolce & Gabbana Collaboration

The episode features an exciting announcement of a new collaboration between Skims and Dolce & Gabbana. Gried reveals:

"We're announcing this today... launching on Tuesday next week. I hope people be excited about it as we are." [18:05]

This partnership blends Skims' innovative fabrics with Dolce & Gabbana's iconic design elements, creating unique products that merge functionality with high fashion aesthetics.

IPO Plans

The discussion turns to the potential initial public offering (IPO) for Skims. Gried acknowledges the significance of going public:

"At some point, Skims deserves to be a public company... we're aggressively expanding from a category point of view." [21:19]

Alleman offers his insights based on his own experience taking On public, advising Gried to view the IPO as a stepping stone that provides liquidity and optionality for future growth:

"It was a cultural moment because we were just coming out of COVID... it was a stepping stone for us to fund the future." [22:09]

Gried confirms that while an IPO is on the radar, the current focus remains on building the brand and expanding its global footprint.

Advice for Entrepreneurs

In the concluding segment, both Gried and Alleman offer invaluable advice for brands, entrepreneurs, and designers aiming to leverage culture through sports, fashion, and other sectors.

Jens Gried advises,

"Don't overthink it. Most founders spend too much time thinking what is perfect... it's more important to do than not do." [23:46]

He emphasizes the importance of engaging with cultural moments and being willing to take risks.

David Alleman shares,

"Be really, really close to the needs of humans, to the consumers... be the brand that helps the explorers and the dreamers and probably even the rebels to ignite their spirit." [24:25]

He highlights the necessity of understanding and aligning with consumer aspirations to build a meaningful and enduring brand.

Conclusion

Imran Ahmed wraps up the episode by congratulating both guests on their achievements and the impactful announcement. The episode effectively showcases how Skims and On have navigated the intersection of sports and fashion to create brands that are not only commercially successful but also culturally resonant.

Notable Quotes:

• Jens Gried [03:07]: “Before you have an idea about a brand, you need to have an idea about a product.”

• David Alleman [06:49]: “He kind of asked himself, hey, why is it that we haven't seen really strong innovation in the outsoles of shoes?”

• Jens Gried [12:18]: “Sport is this great unifying platform where everyone can partake.”

• Jens Gried [18:18]: “This is our second large collaboration with an Italian fashion house.”

• David Alleman [22:09]: “It was a stepping stone for us to fund the future.”

• Jens Gried [23:46]: “Don't overthink it. It's more important to do than not do.”

• David Alleman [24:25]: “Be the brand that helps the explorers and the dreamers and probably even the rebels to ignite their spirit.”

This episode of The Business of Fashion Podcast offers a comprehensive look into how leading brands like Skims and On are bridging the gap between fashion and sports, setting benchmarks for cultural relevance and business innovation.