The Entrepreneurs – Episode Summary

Podcast: The Entrepreneurs
Host: Laura Kramer (Monocle)
Date: October 29, 2025
Featured Segments:

• Interview with Elad Yifrach, founder & creative director of L’Objet – on expansion into fragrances
• Report on Japan’s booming business of ghost investigations in real estate, with Kazutoshi Kodama of Kajimoto

Episode Overview

This episode charts two innovative business journeys. First, Elad Yifrach of L’Objet reflects on moving from interior design to product creation and the company’s recent expansion into fragrances, emphasizing craftsmanship, sensory engagement, and collaboration. The episode then pivots to spooky season, exploring Japan's unique market for investigating haunted or “stigmatized” real estate, with insights from Kazutoshi Kodama, founder of Kajimoto.

Segment 1: Elad Yifrach on L’Objet’s Expansion into Fragrances

(00:11–22:09)

Main Ideas & Discussion Points

Origins & Philosophy of L’Objet

• From Interior Design to Products

  • Elad moved from designing spaces to creating objects, realizing he couldn't source accessories that fulfilled his vision ([01:51]):

    "I always find that the accessories and objects are what brings the soul to the space." — Elad Yifrach [01:51]

  • What began as an experimental escape turned into building L’Objet.

• Art Meets Function

  • L’Objet blurs artistry and practical usability:

    "I like to dream like an artist, but create like a designer... It’s not a successful object if one of the elements is missing." — Elad Yifrach [02:39]

  • Functionality is always the starting point.

Global Craftsmanship

• Working with Artisans

  • Initial collaborations started with ceramicists in Portugal; grew into a worldwide network based on local expertise ([03:35]):

    “I go where the craftsmanship is best and where I can find people that can push the boundaries of that specific material.” — Elad Yifrach [04:49]

  • Key materials sourced globally: ceramics from Portugal, metals/textiles from India, weaving from Peru, fragrances from France.

• Travel & Cultural Motifs

  • Designs are steeped in diverse cultural influences inspired by Elad’s travels ([06:01]):

    "It’s the main feeder. I travel so much and get cues from things that I see, from things that I touch, from different cultures..." — Elad Yifrach [06:01]

  • He recounted finding inspiration in a Korean ceremonial box, reimagining it for his collection.

Naming the Brand

• The name "L’Objet" surfaced from reading an art terminology book during a moment of frustration; a direct, simple French word that resonates with elevated craft ([07:47]).

Fragrance Expansion

• Why Fragrance?

  • Scents are tied to memory, identity, and intimacy for Elad ([10:02]):

    “I have very distinct memory of fragrance... there is a big connection with how it makes you feel and how you present yourself.” — Elad Yifrach [10:02]

  • Fragrance evolution: candles → home scents → apothecary → eau de parfum ("the next level of intimacy" with the client).

• Collaboration with Perfumer

  • Works with Jan Vanier of Givaudan, inspired by shared travel experiences ([12:00]):

    “There was one (perfumer) that from the first three minutes, I knew I want to work with... our biggest connection because he travels extensively and so do I.” — Elad Yifrach [12:00]

  • Emphasizes expressiveness, mood-boarding, and minimal prescriptive direction to allow authentic creative dialogue.

• Signature of Fragrance

  • High-grade, natural ingredients ensure scents interact uniquely with each wearer ([14:57]):

    "...a good fragrance should... interact differently with our different chemistries and temperatures and skins." — Elad Yifrach [14:57]

Creative Collaborations

• Only partners with those he shares deep, organic creative chemistry with; likens collaborations to an intimate relationship ([15:35]):

  “To invite somebody into the creative process is super intimate. It’s really like sex to me. And I don’t do it lightly...” — Elad Yifrach [15:39]

Material Integrity & Brand Intimacy

• Material Sourcing
  • Quality of source materials crucial to L’Objet:

    "If the ingredients are not good, it doesn't matter how great the recipe and how much love you poured into it..." — Elad Yifrach [17:10]

• Maintaining Intimacy as Brand Grows
  • Small design team (only three people).
  • Each shop has unique architecture, providing fresh experiences worldwide.

Personal Touch & Routine

• Elad’s days blend creation, engineering, critique, and travel ([19:33]):

  “I always start with either yoga or a workout or Pilates or meditation... then my team and I like to start the day quiet and each in his own corner to kind of build the energy... Some days are more about creating the ideas, and some days are about what we call design engineering.” — Elad Yifrach [19:33]

Looking Ahead

• Desires both more travel for inspiration and time for balance and reflection ([21:22]):

  “I dream to travel more... I feel like that fountain of ideas and creativity... is ever flowing. And... I also dream to have... more balance of time to do nothing because I feel like my best idea comes from those moments.” — Elad Yifrach [21:22]

Segment 2: Why Ghost Hunting is Big Business in Japan

(23:05–28:52)

Main Ideas & Discussion Points

The Problem of 'Stigmatized' Properties

• Cultural Context
  • In Japan, “jiko bukken” (stigmatized properties) linked to deaths carry social stigma — affecting rental demand and prices ([23:05]):

    "The problem with stigmatized properties mainly comes from a psychological sense of discomfort." — Kazutoshi Kodama [23:39]

  • Belief that death brings impurity; tenants avoid such homes.

Kajimoto’s Solution

• Ghost Investigations

  • Kodama (a former property manager) performs overnight, scientific investigations at stigmatized properties ([25:50]):

    "I spend the entire night from 10pm to 6am inside the property. I record video and audio, measure electromagnetic fields, humidity, air pressure and noise levels, as well as temperature using thermal imaging." — Kazutoshi Kodama [25:50]

  • Based on methods from British haunted castle researchers.
  • Certification provided: “no abnormalities detected” helps reassure prospective tenants.

• Business Impact

  • Standard fee: 80,000 yen (~€500) per property.
  • Certified properties limit rent loss to ∼10% versus 20-30% for uncertified ones ([26:28]).

If a Property is Haunted

• Transparency & Risk
  • If tenants later encounter the paranormal, the company offers a 1 million yen reward. ([27:01])
  • Especially “strange” properties are leased by Kajimoto itself and sometimes opened to researchers and the curious.

Human Touch to Ghosts

• Contact with Families
  • Investigations often bring comfort or closure to bereaved families ([28:04]):

    "So even if a ghost were to appear, he wouldn't be a stranger to me... [Following an investigation] he said, 'now that I know she's not there anymore, I'll pray for her at home instead. Thank you.'" — Kazutoshi Kodama [28:04]

Market & Cultural Value

• Kodama’s business not only helps landlords reclaim property value, but brings peace of mind to both tenants and families, bridging the gap between science and tradition ([28:52]):

  “The ghostbuster in the real estate industry offers a triple win business solution, bringing peace of mind to landlords, tenants, and perhaps even to the ghosts themselves.” — Ryuma Takahashi [28:52]

Notable Quotes & Memorable Moments

• Beauty & Function:

  "I like to dream like an artist, but create like a designer." — Elad Yifrach [02:39]

• Global Inspiration:

  “I go where the craftsmanship is best…” — Elad Yifrach [04:49]

• Intimacy of Collaboration:

  "To invite somebody into the creative process is super intimate. It’s really like sex to me." — Elad Yifrach [15:39]

• Material Integrity:

  "If the ingredients are not good, it doesn't matter how great the recipe and how much love you poured into it..." — Elad Yifrach [17:10]

• Sensory Depth:

  “I dream to travel more... I feel like that fountain of ideas and creativity... is ever flowing.” — Elad Yifrach [21:22]

• Business & Afterlife:

  "During our ghost investigation, I often contact the families of those who passed away... now that I know she's not there anymore, I'll pray for her at home instead.” — Kazutoshi Kodama [28:04]

Timestamps for Key Segments

• [01:51] Elad Yifrach describes moving from interiors to objects
• [02:39] Talks blending art and function at L’Objet
• [04:49] Importance of global craftsmanship
• [06:01] On how travel inspires design sensibility
• [10:02] How fragrance became part of the brand
• [12:00] Working with Jan Vanier, perfumer
• [15:39] On the intimacy of creative collaborations
• [17:10] Material integrity’s role in product excellence
• [19:33] A day in the life of Elad Yifrach
• [21:22] On balance, creativity, and future plans
• [23:39] Kazutoshi Kodama explains Japan’s stigmatized properties
• [25:50] Scientific ghost investigations described
• [27:01] Outcome when paranormal is encountered
• [28:04] Real stories of families and closure

Tone & Style

Conversations are thoughtful, reflective, and deeply engaged with not just business logistics, but the tactility, culture, and emotion behind each topic. Both Elad Yifrach and Kazutoshi Kodama present their work as a personal journey—blending artistry, practicality, and sensitivity.

This episode offers a rare look at how modern entrepreneurs fuse craft, story, and even the supernatural, approaching business not as transactions but as meaningful, transformative interactions—whether through the senses at home or the spectral presences lingering in real estate.