227. Rebecca Minkoff: From globally recognized fashion designer and entrepreneur to Real Housewives of New York, the incredible BTS of her multi-million dollar business, reality TV, and the $$$ behind it!

Summary

Trading Secrets - Episode 227: Rebecca Minkoff

Released on March 24, 2025

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Introduction

In Episode 227 of "Trading Secrets," host Jason Tartick delves into the multifaceted world of Rebecca Minkoff—a globally recognized fashion designer, entrepreneur, and reality TV personality. This episode provides an in-depth look at Rebecca's journey from co-founding a multimillion-dollar fashion empire to navigating the challenges of reality television, all while maintaining her business acumen and personal growth.

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Rebecca Minkoff's Journey in Fashion

Rebecca Minkoff co-founded the Rebecca Minkoff brand in 2005 alongside her brother, Uri Minkoff. Starting with a simple "I Love New York" T-shirt, the brand rapidly expanded into a comprehensive fashion powerhouse known for signature handbags, ready-to-wear collections, footwear, and accessories. Rebecca's ability to adapt to shifting trends and consumer needs has been pivotal in her brand's success, allowing her to venture into new markets such as fragrance and sustainable fashion.

Notable Quote:

"What started with an I Love New York T-shirt evolved into a multimillion-dollar fashion empire."
—Rebecca Minkoff [06:27]

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Entering Reality Television: Real Housewives of New York

Rebecca's recent foray into reality TV came with her joining the cast of "Real Housewives of New York." While this move elevated her public profile, it also introduced new challenges. Rebecca openly discusses her initial skepticism about reality TV and her disappointment with how the show portrayed her. She felt that the authentic aspects of her life—her business successes and personal accomplishments—were sidelined in favor of dramatic storylines.

Notable Quote:

"My expectations were definitely not exceeded. They showed a storyline, but my accomplishments were edited out."
—Rebecca Minkoff [07:15]

Despite her reservations, Rebecca acknowledges that her appearance on the show significantly boosted brand awareness by 20% annually, with website traffic tripling on Tuesdays and remaining doubled midweek. However, she emphasizes that the format was not aligned with her values, leading her to eventually withdraw from active participation in the show's drama.

Notable Quote:

"Brand awareness is up 20% year over decade... but if the platform is women arguing, I'm out."
—Rebecca Minkoff [08:47]

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Business Challenges: Tariffs and COVID-19 Impact

Rebecca provides an honest account of the financial hurdles her business has faced, particularly focusing on the impact of tariffs and the COVID-19 pandemic. In 2019, sudden tariffs on goods produced in China caused an immediate and severe financial setback, flipping a projected $3 million EBITDA into a $3 million loss within a single year. The situation worsened with the onset of COVID-19 in 2020, which decimated 70% of their wholesale business as stores closed and consumer purchasing halted.

Notable Quote:

"Tariffs swung everything... from projecting a $3 million EBITDA to a loss of $3 million."
—Rebecca Minkoff [18:36]

To mitigate these challenges, Rebecca and her brother relocated production from China to Indonesia and Vietnam, which helped shield their handbag segment from ongoing tariff impacts. However, the company still faced increased costs in areas like hardware, reflecting the widespread ripple effects of global economic policies.

Notable Quote:

"We moved production to Indonesia and Vietnam primarily for our bags, which helps us stay largely unaffected by current tariffs."
—Rebecca Minkoff [20:05]

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Financial Strategies and Equity Splits

Rebecca discusses the intricate financial maneuvers involved in growing and eventually selling her business. Initially, her brother funded the company using a $250,000 credit line, which he increased to approximately $700,000 by mortgaging his house. Over time, they managed to repay this debt through strategic partnerships and private equity investments.

When negotiating the sale of the company, Rebecca emphasizes the importance of having clear agreements in place early on. She shares insights on equity splits, highlighting the arrangement they struck with her brother—eventually settling into a split that allowed her to retain a significant personal stake in the company post-sale.

Notable Quote:

"If you're going to sell, you are getting more married to these partners than any partner you're gonna shack up with. Make sure you fight for what works for you."
—Rebecca Minkoff [29:58]

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Marketing and Brand Strategies

Rebecca explains her brand's marketing strategies, including innovative methods like scavenger hunts coordinated around fashion events. These activities not only engaged consumers but also significantly boosted brand visibility and sales. She also touches on her approach to influencer partnerships, emphasizing authenticity and relevance to her brand's values.

Notable Quote:

"Our scavenger hunts during Fashion Week created a rabid following, with women everywhere trying to find the hints to win exclusive bags."
—Rebecca Minkoff [33:10]

Additionally, Rebecca discusses the balance between luxury and affordability, particularly in catering to Gen Z consumers who prioritize trendiness and affordability over lasting quality. This strategic pricing ensures that her brand remains accessible while maintaining its reputation for quality.

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Personal Insights and Advice

Rebecca Minkoff shares valuable advice for aspiring entrepreneurs and business leaders. She underscores the importance of resilience, long-term vision, and the ability to adapt to unforeseen challenges. Her principles, outlined in her book "Fearless: The New Rules for Unlocking Creativity, Courage, and Success," focus on maintaining stability during difficult times and making informed, strategic decisions.

Notable Quote:

"We are in an age of instant gratification... adjust your time horizon and expectations for a long-term game."
—Rebecca Minkoff [53:03]

She encourages entrepreneurs to establish clear roles and agreements with business partners early on, ensuring mutual understanding and alignment of goals to prevent conflicts down the line.

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Handling Scrutiny and Personal Challenges

Rebecca candidly addresses the scrutiny that comes with reality TV fame and public life. She describes her strategy of not taking criticism personally and maintaining composure in the face of drama. This approach not only protects her mental well-being but also upholds the integrity of her brand.

Moreover, Rebecca touches upon personal challenges, including the emotional impact of balancing business pressures with personal relationships. She emphasizes the importance of communication and setting boundaries to manage stress and maintain healthy relationships.

Notable Quote:

"I do not take myself that seriously. I can be made fun of all day and I'll usually laugh with you."
—Rebecca Minkoff [10:35]

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Trading Secret: Embracing the Long Game

As the episode concludes, Rebecca shares her unique trading secret, emphasizing the importance of patience and long-term planning in both personal and professional endeavors.

Notable Quote:

"Play the long game. Make decisions based on the long game and let your business be guided by a North Star that ensures longevity and sustainability."
—Rebecca Minkoff [53:03]

This philosophy has been instrumental in her ability to navigate business downturns and capitalize on growth opportunities, ensuring that her brand remains robust and adaptable in a constantly evolving market.

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Conclusion

Episode 227 of "Trading Secrets" offers a comprehensive exploration of Rebecca Minkoff's entrepreneurial journey, her experiences with reality television, and the strategic decisions that have shaped her brand's success. Through candid discussions and insightful advice, Rebecca provides listeners with valuable lessons on resilience, strategic planning, and maintaining authenticity in business.

Notable Quote:

"Building something that lasts and stands the test of time is hard and it takes a long time. Stay dedicated to your long-term vision."
—Rebecca Minkoff [53:03]

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Additional Resources

• Book: Fearless: The New Rules for Unlocking Creativity, Courage, and Success by Rebecca Minkoff
  Available on Amazon, Target, Barnes & Noble, and other major retailers.

• Podcast: Super Women with Rebecca Minkoff
  Tune in to gain further insights into Rebecca's strategies and personal growth.

• Website: rebeccaminkoff.com
  Explore the latest collections and learn more about Rebecca's ventures.

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End of Summary

Transcript

[Jason Tardick]

Foreign. Welcome back to another episode of Trading Secrets. I'm your host, Jason Tardick and welcome to the pre market trading segment where I'm going to tell you a little bit about what you can expect from today's episode. Some financial tips and a little bit of an update. My personal life. I'm fired up today, baby. The energy is high. I hope you are having a great week. This guest, the sharkiest of sharks, the boss of all bosses. I wasn't really sure, you know, is she going to share what I want her to share? Will she be open or is she going to be a closed door?

[Rebecca Minkoff]

Whoo.

[Jason Tardick]

She did not disappoint her. You know her bags, you know the name of her brand. We all do. But do you know her? Rebecca Minkoff? She was just on this last season of Real Housewives of New York. Of course we're going to step into that. But if you are curious, how much are the bags? What are the profitability? How much did she sell the company for? What is her revenue? What is her revenue in a good years? What is her profit in her good years? What are the ebitda? Who owns the company? How did you finance the company? I mean, you talk about trading Secrets, where pop culture meets money. We got those answers on today's episode. And if you're a Real Housewives fan, I mean, we get into the weeds of how much they get paid, all the stuff, the ins and outs and why she is definitely not going on reality TV anytime soon as a real housewife. So. But you hear from like a business lens, a lens you haven't heard yet. I can promise you that. Stay tuned to the recap Because, David, I mean, just stay tuned to the recap. Oh, Teddy says hi. The recap is great. Oh, Teddy says hi twice. And again, he wants to be part of this podcast. Teddy, do you want to be our mascot? Love you, Teddy, you are officially named Trading Secrets mascot. All right, well, again, recap episode, it's stacked. Now, something you need to know. I was just on national TV this week talking about all things. It was interesting. We're talking about Gen Zs and how Gen Zs are struggling financially today. In 2023, their earnings power was $9 trillion. But in the next five years, that number is going to increase to almost $40 trillion. Their ability to be connected with AI in tech and social currency and social trends and a myriad of other reasons has their earning power increasing significantly in the next five years. And we know that from a generational perspective with the baby boomers and Gen X transferring wealth. In the next 15 years, it is estimated that Gen Z's are going to have a wealth power of over $80 trillion, being the wealthiest generation of all time. So if you are a Gen Z and you're struggling right now, don't double down. Your time is coming. And if you aren't a Gen Z, it's time to really start engaging Gen Zs, hiring Gen Zs, consulting with Gen Z. So, you know, make sure you are soaking it all up because they will be the wealthiest, they will be the most influential, they will be the most powerful, and they are changing the landscape of how our technology and social trends and so many other things are working today. Another little finance tip. I'll give you total credit card debt end of 2024, $1.35 trillion. That's only 133 billion below from 2007. And we're seeing an annual increase in credit card debt of 74 billion. So be very intentional with where you're spending and how you're spending. A little update from my life before I get into that, we got a giveaway. Every week we're doing a little giveaway here and if you give us a review, five stars and then leave your Instagram handle, we are going to send something to you. So I have the winner this week. It is Kelsey R. Kelseyr. You gave a really nice review. So saying that you're a weekly listener, always love this show but never have completed to write a review until now. And this week's episode with Sahil felt invaluable as someone who runs a local newsletter and has been working to build that value, his advice and expertise was wonderful. Excellent episode, Jason. So Kelsey, thank you for that review. Shoot me an email and we have a gift from you from the influencer closet. If you don't know what the influencer closet is, PR packages come here all the time and I like to give the stuff away. So go give us a review. Let us know your biggest takeaway from Rebecca Minkoff and then the intro up next week week we will give one lucky winner something from the influencer closet. And the value of those things varies from anywhere from like 25 bucks to like 500. It's all over. That being said, little update from my life. Been in Nashville this week. Had a tough week with the back. We talk a little bit about that in the recap. Was in the hospital for the first time ever. It'll be interesting to see what that costs. Obviously I'll share that information with you and I'm in Nashville all this week. And it's been really good to be here because I'm starting to get connected to myself a little bit more. More without so many distractions. And I feel like slowly but surely some really exciting chapters and next steps are coming. But enough of me, enough of market updates, enough of credit card debt and Gen Z, let's get into the one, the only Rebecca Minkoff. Welcome back to another episode of Trading Secrets. Today we are joined by an absolute powerhouse in the fashion business and now reality TV world, Rebecca Minkoff. Rebecca is a globally recognized fashion designer, entrepreneur and author who has co founded the Rebecca Mink golf brand in 2005 and her brother, Uri Minkoff. What started with an I Love New York T shirt evolved into a multimillion dollar fashion empire. Known for its signature handbags, ready to wear collections, footwear and accessories, she is continuously adapted to shifting trends and consumer needs, expanding her brand into new markets including fragrance and sustainable fashion. Most recently, Rebecca has expanded her public presence by joining the cast of Real Housewives of New York, giving fans behind scenes look into her personal life and challenges of balancing her growing brand, family and newfound reality tv. So how does Rebecca manage to juggle it all? What are their financial and business lessons she's learned from building a global fashion empire? We're going to step into it all. And not only has she done all that books are under her sleeve. She also shares her insights on entrepreneurship and personal growth and her new book, Fearless the New Rules for Unlocking Creativity, Courage and Success. Rebecca, I could do your intro, the whole EP episode, but I got to put this thing down.

[Rebecca Minkoff]

I mean, you could cut it short, just take a couple things off.

[Jason Tardick]

What haven't you done at this point?

[Rebecca Minkoff]

I haven't jumped off a bridge. Would you do it with a parachute? No.

[Jason Tardick]

Okay. But you did do reality tv.

[Rebecca Minkoff]

Yep. That made me want to jump off a bridge.

[Jason Tardick]

Real Housewives of New York.

[Rebecca Minkoff]

Yes.

[Jason Tardick]

I saw an interview in which you said you were trying that the idea behind it was you wanted to give people an inside look at what life is like from your perspective. Family, business entrepreneur.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Did your. Were your expectations exceeded or what did you feel about how things came out?

[Rebecca Minkoff]

My expectations were definitely not exceeded. It was not. You know, I think I served a storyline for them and everything else and all my accomplishments were really just edited out. And I've talked about it a lot, but I just was like, this is not the format for me. If you're not going to, if you're not going to show that part of My life, then there's no point of me being on here. I'm not here to pick fights.

[Jason Tardick]

Why do you think they didn't show that part of your life?

[Rebecca Minkoff]

I have no idea. I would love to find the answer one day.

[Jason Tardick]

Interesting.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Okay. When fights did arise, you were just like, I'm not participating in this.

[Rebecca Minkoff]

No. I would be like, guys, let's see if we can work it out. Do we need to feed you? Should we go for a walk?

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Like, let's just take a breath. At one point I was like, you need to stop talking. You need to listen. But all that also.

[Jason Tardick]

So you're trying to play like kind of like good cop, like resolve everything.

[Rebecca Minkoff]

I was trying to resolve everything. And I quickly learned that's like, no.

[Jason Tardick]

One wants reality tv.

[Rebecca Minkoff]

Nobody wants.

[Jason Tardick]

Nobody wants that. Yeah.

[Rebecca Minkoff]

So I did. After I figured that I was like, I now I'm just gonna not participate.

[Jason Tardick]

Had you been approached for reality TV before?

[Rebecca Minkoff]

Was first time I had been approached. I mean, I did many seasons of Project Runway as a judge. I was part of a short lived spinoff of that show. And this was the, you know, we'd been approached, like, let's get into the office and film the whole thing. And my brother and I felt like at the time, with our company growing.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Like when you're selling an elevated luxury product, do you want to see the mess? Not always.

[Jason Tardick]

Always.

[Rebecca Minkoff]

So we felt like at the time it wasn't right. And at the time that this opportunity came to me, it felt right.

[Jason Tardick]

Okay, when you look at it back, do you think, obviously it wasn't what you expected, but have you seen it help or hurt your brand? Because even with polarizing opinions of you're loved, beloved, liked or disliked, it can still launch in a certain way. I mean, we talked about it for this episode started. We talked a little bit about some people have had some interesting moments that propelled their career. And maybe those aren't perceived with positive connotation, but like, do you feel it all as though that it helped the brands?

[Rebecca Minkoff]

That's the crazy part is it helped the brand and did. Yeah.

[Jason Tardick]

How so what's the measurement to know that?

[Rebecca Minkoff]

Well, brand awareness is up 20% year over decade.

[Jason Tardick]

Wow.

[Rebecca Minkoff]

Every Tuesday night, traffic would triple to the site and stay doubled Wednesdays and Thursdays. So the amount of new eyeballs and audience now that I've brought in and, you know, building our list size and sales that come from that, yeah, it's huge. But I just was like this, you know, if the platform for this is women Arguing, I'm out. That's not what I'm here for.

[Jason Tardick]

Okay. Is there any part of you at all? Like, is there anything they can negotiate to keep you around again or have you come back?

[Rebecca Minkoff]

I think I said somewhere, like, if. If there was a nice public apology from certain people who I won't name, you know, maybe there'd be an open.

[Jason Tardick]

Dialogue on the show or behind the scenes.

[Rebecca Minkoff]

Both.

[Jason Tardick]

Interesting.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Okay. When there are some things that, like, this is the tough part about reality tv is when they're attacking you and then they're possibly attacking your brand. How do you deal with some of that scrutiny? We saw Bryn made the Nordstrom Rack comment. Like, how did it. How does the team behind the scenes say? Like, okay, we have to either use this as, like, a comedic element or we have to, like, find a way to defend this. Did you feel like you're in that spot?

[Rebecca Minkoff]

So I knew right away that if you get defensive about those kind of things. First of all, I signed up for that. I wasn't surprised that that was going to happen.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And I was like, you cannot take this seriously. So you saw me going with Page Six. I did a podcast, and I was like, guys, we gotta go to Nordstrom Rack.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

You know, we took pictures and, like, we leaned into the hilarity of it. Or when I was called boring, you know, we did a lot of fun social stuff. The fact that, like, if you believe that what this TV show edited me to be about being boring.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Like, here I am everywhere else, and I don't think I'm that boring. So, like, we. We. We made fun of it in a way. I. I, first of all, do not take myself that seriously. That's what my husband loves about me. So I can. I can be made fun of all day. And I'll usually laugh with you.

[Jason Tardick]

You'll have a good time with it.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

All right, let's play a game. Hire fire. We'll start with this. So you have to hire one person on Real Housewives of New York to join you for your next business. Of anyone. It's got to be current cast. Who would you hire if you had to hire one person? Person?

[Rebecca Minkoff]

I would hire Jessel Tank. She would run my PR and communications because she is a smart, strategic girl.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

And she's loyal, and I think she really honed her chops working in the industry as long as she did, and she knows her stuff.

[Jason Tardick]

Okay. You're on the show and you could fire anyone. Who would you fire?

[Rebecca Minkoff]

I mean, we know we'd Fire Bryn. Right.

[Jason Tardick]

For sure. I mean, that was. That's what I thought. I asked her a similar question, and she said, you. So I'm glad you repaid the.

[Rebecca Minkoff]

You know what? The. It's so nice because the feelings between us are so mutual.

[Jason Tardick]

Have you got, like, off screen? Do you ever try and, like, settle, like, some of those disagreements?

[Rebecca Minkoff]

You know, the thing is, is because I knew what she was doing. I knew we needed the dramatic element.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Like, I was just like, oh, you're a waste of time. And, like, whatever. I'll see you around. And it's fine. Like, there's no. It's not like I have. Like, I'm harboring any beef.

[Jason Tardick]

Do you. Okay. So I always found this with the Bachelor is that peop. The cameras are off. And then you'd see a certain side of someone. Cameras come on. Whole different ball game. Did you feel that's the case with Real Housewives in New York?

[Rebecca Minkoff]

I would have to say, let me think about each person. No, I feel like pretty much everyone. Everyone was pretty consistent.

[Jason Tardick]

Is there a bit. Let's take the business side. You're a business. You're entrepreneur. You see it all. Is there an element of, like, you have to create drama to make the show go because ratings are what create the drama. And did you feel any of that pressure? Do you think other castmates feel that pressure to step into that? Because that's what makes the show go now.

[Rebecca Minkoff]

Knowing what you know now, knowing what I know 100%. But I do think that production really came into it with better intentions.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

I firmly believe there is an audience out there that wants to see a chaotic, frenetic, dramatic within our own lives. You know, it play out and not have to be like, this feeling of, oh, we have to have a fight now.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And I feel like they want it to be fun and funny. And then it was like, oh, back to old, old rules. And, like, dramatic fights, you know, tearing each other up.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And so you could feel that. I don't know if you felt this, but you can feel it's like, nothing. No one's fighting.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Is someone gonna pick a fight? What's gonna go.

[Jason Tardick]

It's coming next.

[Rebecca Minkoff]

And then you have the fight. You're like, oh, okay, that's over with. Now we can just go back to it. So it's a very odd feeling. And then I'm supposed to be like, now. I'm just supposed to be okay. Like, we're all good now.

[Jason Tardick]

Just like that.

[Rebecca Minkoff]

All my boys all just, like, shot through me. And now I'm supposed to be like, oh, I love you again.

[Jason Tardick]

Yeah. What do you think it is about some of either the OGs or this cast, though? They're. They're. They just don't care about that.

[Rebecca Minkoff]

Like, I was with Dorinda today. I was interviewing her on my podcast, and I was like, does. Does any of that, like, sit with you after an argument or did it then? She's like, absolutely not. She's like, I was brought up in the family, and that was how we loved each other and did it and we didn't harbor stuck feelings. I was like, man, it took me a while to come down after all the fighting sometimes.

[Jason Tardick]

Yeah, but you're running this. These massive businesses, and the drama and challenges and conflict happen every single day. So as a. As a business leader, do you think cortisol not impacted? But with personal matters, it just shot through the roof, I think, because I would expect you to just not be faced. I feel like you'd be like, I've seen all this.

[Rebecca Minkoff]

I just was like, ugh, the. The pressure of the fighting and like, how long is this going to go? And how it was negative. Whereas here's the difference. If I'm dealing with 70% of my business evaporating during COVID like, that is a situation that I am in for work that I signed up for, that I knew probably was a risk. Right. Not that we all knew about COVID And then here you are with people and you're supposed to be friends, and this is supposed to be the place where you're supposedly, like, everything's good. So when it's not good, it's like fighting with a loved one. You're like, I don't come down from that as easy as I do. Business is hard. It's tough all the time. I guess you're sort of expected. Okay, so it's when it's unexpected that it's hard to come down from.

[Jason Tardick]

Spring break is here. Maybe you're traveling. Maybe you're just getting ready for spring or summer, and you need to upgrade that wardrobe a little bit. Well, I have a solution for you. It's quint. Now, quints will give you high quality premium fabrics and products and accessories like luggage and tote bags at a very, very discounted rate. So you get like a European linen style from 30 bucks, washable silk tops and comfy lounge sets. And then they also have those premium luggage options, too, which are super cheap. But just go to quince.com tradingsecrets you'll be able to see it all. What they do is they partner directly with factories. So they cut out the cost of the middleman and then pass the savings onto us. But here's the big thing, like, and this is really important to me too, Quints will only work with factories that use safe, ethical, responsible manufacturing practices and premium fabrics and finishes. So what you'll do for your next trip, treat yourself to the luxe upgrades you deserve. Just go to quince.com tradingsecrets for 365 day returns plus shipping on your order. That's Quince Q U I n c e.com tradingsecrets to get free shipping and a 365 day return on all your orders. That's quince.com trading secrets. I actually just went to quince.com trading secrets. I also got a 30% off coupon, $250 or more. So I just did it. Go check it out. Okay. I know you've talked about this a little bit before, but how. What was the first conversation like for you to go on? Real Housewives in New York?

[Rebecca Minkoff]

Oh, my gosh. I spoke to someone at casting and they were like, you know, what do you do in situations of conflict and like, do you stand up for people? Do you take sides? I can't remember all the questions, but it was a lot about how I managed through that type of thing. And I was like, in my first interview, I was like, I'm not gonna throw another woman under the bus. I am not gonna talk about her behind her back.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

I am not gonna start shit just for whatever. I'm gonna be myself. And if you don't want that, great.

[Jason Tardick]

Interesting.

[Rebecca Minkoff]

And yeah.

[Jason Tardick]

Do you think they. Do you think they knew that's what you're putting on the table and they kind of set you up to be the person that's not gonna be that, but then have to deal with it. Like, do you think, like, hindsight, do you think that's the character they saw.

[Rebecca Minkoff]

The way it played out? I think that they thought that one of the producers said to me, like, you're Rebecca fucking Minkoff. Act like that. I was like, I am.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

I don't need to be this demonic person to get my way and have a tantrum.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

And he said, would you teach your daughter to do behave the way you're behaving? And I said, absolutely. So I think they thought, oh, the way to resolve things or get what I want or react to being poked is to stamp your foot and be like, you crazy bitch. What the Fudge you talking about.

[Jason Tardick]

Good clip.

[Rebecca Minkoff]

I don't do that. You're welcome.

[Jason Tardick]

Thank you. Appreciate that. I get that. I get that. All right. Would you ever do any other form of reality tv? Are you, like, one and done?

[Rebecca Minkoff]

No, I certainly would. I have had an idea baking, and it's out to a couple places right now. What I have to get over is.

[Jason Tardick]

Can you speak to the idea at all?

[Rebecca Minkoff]

No, I don't want anyone to steal it.

[Jason Tardick]

Okay, that's true.

[Rebecca Minkoff]

But there's. There's. There's a lot of hilarity and fun and misadventure. It's also supporting women, but I have to decide if I want to be gone and traveling.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

For months at a time, and I don't know that I'm ready to do that.

[Jason Tardick]

Yeah, I get that. All right. You alluded to your business. You talked about COVID the impact that had. You also have talked on other podcasts about the impact tariffs that had in your business pre Covid. Yeah, we're now in a very tariff.

[Rebecca Minkoff]

Friendly.

[Jason Tardick]

Friendly, maybe. I don't know. I literally could say friendly, but I'm like. I don't think that's the word.

[Rebecca Minkoff]

Not the word.

[Jason Tardick]

We are in a tariff rich environment right now. How did tariffs impact you back in 20. 19. 20. And how does that connect to how they're impacting your business today?

[Rebecca Minkoff]

So the first set of tariffs were like, the worst thing that could ever happen because you. You hear about it and it happens before you can do anything to change. So we were mostly producing in China.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

And we knew that that was the year we were projecting, I think, a $3 million EBITDA. And it went reverse. It was a loss then of 3 million. Roughly.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

I went to.

[Jason Tardick]

That's a big change. That's a big swing.

[Rebecca Minkoff]

It was a big swing.

[Jason Tardick]

And that was from tariffs.

[Rebecca Minkoff]

Yeah. Because everything was made in China, so it just. It swung everything.

[Jason Tardick]

What percentage was it back then? Do you remember?

[Rebecca Minkoff]

Was it 10?

[Jason Tardick]

I think it was 10. Or it might even been more than that.

[Rebecca Minkoff]

Okay, so 10 to your margin is. That's a lot. Yeah, I think if I can't remember what each margin point for us was, I feel like each margin point was a million dollars. So it was a 10 million swing. That took it from down to us losing 3 million. And then you go into Covid, so we're already like, oh, shit. Then you go into Covid, then 70% of our business evaporates overnight because we were in wholesale. Those stores were closed. The POS were canceled. We had all the inventory. So talk about, like, you know, just the chain effect. I'd gone to testify in Washington about the harm these tariffs could do to brands. Listen, I appreciate the sentiment, but you got to give a company more time to do it.

[Jason Tardick]

Yeah, yeah, yeah. When you say sentiment, you're saying what I'm saying.

[Rebecca Minkoff]

If you want to have tariffs and you want to really push people to move back into the US and do US Made things and stimulate the economy. I appreciate that.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

But you can't do it in six months.

[Jason Tardick]

Correct.

[Rebecca Minkoff]

And if I still have to order all my hardware, all the filler, all the thread from overseas just to make it here, my bag, my handbag price doubles and the customer can't pay that. So there's so many things. And I'm sure each company has its.

[Jason Tardick]

Nuances, and industry, that's another thing, too. Like each industry is going to be impacted different from it.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

But it's interesting to see most surveys of CEOs and Fortune 500s right now, and economists are all saying, like, this is going to potentially cripple the economy. And we're seeing it happen and play out now. Interesting to see how you go from 3 million EBITDA projected to negative 3 million. That's a huge, huge swing. How do you think tariffs are going to impact you guys today?

[Rebecca Minkoff]

So because of that, we did get out of China, so we're in Indonesian Vietnam primarily for our bag. So we're not being impacted today. A little bit on the ready to wear, but it's not a big enough number in our business. So we're safe. But it's still. It still affects everything. People are still raising prices wherever they get things. You know, our hardware prices are now a little higher.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

So it does affect you.

[Jason Tardick]

Okay. Decade plus into the business, this happens. You talked a little bit about it. What did revenue numbers look like before 2019?

[Rebecca Minkoff]

Our height as a brand was 115 million.

[Jason Tardick]

115 million in gross revenue.

[Rebecca Minkoff]

Yeah, 115.

[Jason Tardick]

What year was that?

[Rebecca Minkoff]

That. That would have been 2016, 2017, maybe 2015.

[Jason Tardick]

When you look back at that revenue number, what do you think it was that drove that?

[Rebecca Minkoff]

We were on a whole growth mindset. We had taken in private Equity Money in 2012 and 2013, and the sentiment back then was grow at all costs.

[Jason Tardick]

Go, go, go.

[Rebecca Minkoff]

Don't worry about margin. Yeah, who needs margin? Keep growing.

[Jason Tardick]

How were margins at 100?

[Rebecca Minkoff]

They were not. They were not great. They were not where they needed to be.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

We actually artificially took the company down to about 70 million in order to improve our margins.

[Jason Tardick]

Explain artificially.

[Rebecca Minkoff]

Well, we said we're going to take 30 million off the table so that our margin improves because we're going to take by store. We're going to say, is this profitable to be in this one store? No. Gone. What about this one? No. Are you giving us the margins we need? No. Do we have margin agreements with stores? Because that's. That's big and wholesale.

[Jason Tardick]

Sure.

[Rebecca Minkoff]

You're going to sell out at a 58 margin. We said, we're not guaranteeing anything to you. And they go, okay, we're going to cut your orders. Great. We're losing money on the deal anyways if we take it.

[Jason Tardick]

Interesting.

[Rebecca Minkoff]

So we took about 30 mil. 70 was like the magic number of stability, profitability.

[Jason Tardick]

And then what was the. Was the idea, though, to, like, lean the company? To do what? Exit it? Or was it just.

[Rebecca Minkoff]

We wanted to. We wanted to tighten the ship. We want to get it rid of all the rotting ends and just make it a profitable, lower growth sustainably, you know, healthy company.

[Jason Tardick]

Gotcha. Then you end up. So you have this. It's an interesting time that you sold in 2022, right? Because that's. Yeah, it was right. Right at the end of 2022.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

All right. But you 2019, obviously, tough year, Covid. Terrible year. 2021, I'm assuming slight rebound. Why sell? It's like, you know, buy high, I sell low. Why sell when things weren't moving in the right direction?

[Rebecca Minkoff]

So we were back to growth. We were very proud of ourselves that through Covid, women bought bags, which was like, where she going? But thank you so much.

[Jason Tardick]

Cheers.

[Rebecca Minkoff]

Cheers. We were hit with such debilitating supply chain issues that we realized unless we partner with a strategic, we don't have the leverage we need.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

So we were getting 3,000 of 300,000 units end of 2021, with no way to control it. You know, when you look at the lineup of who these factories, same. Well, they would let 200 workers in versus a thousand. So when you're sitting there and you're like, we have no poll. They're. They're prioritizing the bigger fish, the other bigger handbag brands. So we said, we need someone with muscle. And we had been already speaking to this strategic that we sold to for about a year. So there was a comfort level. They knew the business, they knew our numbers. We had been dancing around, and then we just said, hey, we need your fucking help, because this will put us out of business if we can't get goods.

[Jason Tardick]

Was this the closest you've ever been to being out of business? 2019 and 2020.

[Rebecca Minkoff]

2020. There were some dark nights where my brother and I were like, it'd be actually easier to go out of business and should we. And we said, no. This has been 17 years of blood, sweat and tears.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Not only would that be a disappointment and sad for us, but like to the team that we had left, we had about 22 people left.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

So we said, let's just go. Let's just go down. And if we're going to go down, like, we're going to go down swinging. Yeah.

[Jason Tardick]

Okay. I saw and I think it was Kristen Cavallari's podcast. You had said your first starting salary, you took out $23,000 when you started the company. You were killing it. Did you guys fully self fund the business or did you raise capital when you started it?

[Rebecca Minkoff]

We did not raise capital. My brother funded the business on his Amex and when he maxed that out.

[Jason Tardick]

That's wild. How much?

[Rebecca Minkoff]

I think he had like a $250,000 credit line.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

He had a successful software company prior, so he had a nice credit line. Then he mortgaged his house.

[Jason Tardick]

No way.

[Rebecca Minkoff]

Yep. So then he was like, I'm not comfortable with this.

[Jason Tardick]

So 250 then how much did he put in?

[Rebecca Minkoff]

About 700, I think, is what he put in.

[Jason Tardick]

Okay. So you're in about a million bucks. What is.

[Rebecca Minkoff]

He's in. I'm like, I have, I have a bracelet. Not. Not this race, but this, you know.

[Jason Tardick]

It was like, could have been good one.

[Rebecca Minkoff]

Yeah. Then we were big enough by then to get a factoring company, a purchase order financing company that was advancing capital on the stores that pass credit checks.

[Jason Tardick]

So you're a million bucks or your brother's a million bucks.

[Rebecca Minkoff]

About that.

[Jason Tardick]

And how long did it take for you guys to repay him?

[Rebecca Minkoff]

Once we got the factoring company going, he was repaid.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

And I think if there was a little bit left when we got our first PE investment, he was repaid.

[Jason Tardick]

Gotcha. And then how did you decide to split equity? And what advice would you have for someone that's wanting to start a business, needs a family member or friend and has to decide, like, how do you break it out in equity?

[Rebecca Minkoff]

Yeah. So we didn't discuss it at all at first. It was kind of just like, heads down, we're in this together. I think at the time.

[Jason Tardick]

No contract, Nothing.

[Rebecca Minkoff]

No contract.

[Jason Tardick]

That's rare. Even with family members. That's rare.

[Rebecca Minkoff]

It was rare. I didn't know what the hell I was doing on the business side. Now I obviously do.

[Jason Tardick]

Sure.

[Rebecca Minkoff]

So I was just like, oh, good help. I was on the way. Great. Right before we took in equity, he's like, all right, there's some money that's about to hit. Now we gotta land the plane. He was like, you know, I imagined that we were 50, 50 before, but I also loaned the business money. I also put up whatever, a million bucks, like that's worth something. And so this is how he'd like to structure it. So we came to an agreement that at the time seemed like the right arrangement and we kind of stayed in that ratio ever since. 60, 40, 35, 65.

[Jason Tardick]

35, 65. Okay, good stuff. So then when you sold your first private equity deal, how much ownership did you take off the table?

[Rebecca Minkoff]

We sold 26% and they put in.

[Jason Tardick]

What did you sell it for?

[Rebecca Minkoff]

I think our valuation was about 40 million at the time.

[Jason Tardick]

You did that in less than 10 years. That's wild.

[Rebecca Minkoff]

Yeah, that I think it was 40.

[Jason Tardick]

Or 50 was in an industry that's so hard. Like.

[Rebecca Minkoff]

Well, back then though, like accessories was where people were just dumping money.

[Jason Tardick]

Interesting. Yeah, that's changed. Although the luxury handbag, like the. I feel like that space has blown up lately.

[Rebecca Minkoff]

Luxury is actually struggling.

[Jason Tardick]

It is.

[Rebecca Minkoff]

Yes.

[Jason Tardick]

Interesting.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Is the handbag market in general.

[Rebecca Minkoff]

No. Our price point is seeing a resurgence. Cheap stuff is having like its moment. Because right now, at least with Gen Z. Yeah. Trends are so quick that they just want the 20$30 dupe.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And then I'm on to the next. And we're saying, no, our bags last 20 years.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Like invest a little bit more money and have it longer. And yes, we could be a part of a trend, but like we also have trend less items.

[Jason Tardick]

Okay, I'm going to get back to trends is a huge topic right now. Before I do, though, 40 million valuation.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

You guys sell a percentage of private equity. Take it through the ringer. You've already been through the ringer. You talked us about it. You then sell it in 2022. What was the valuation in 2022?

[Rebecca Minkoff]

I can't tell you that. Oh, I can tell you what's been written.

[Jason Tardick]

Can you say what's been written?

[Rebecca Minkoff]

It was sold for close to $20 million.

[Jason Tardick]

Okay, gotcha.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Interesting. And do you still have. I know you're the chief creative officer, right?

[Rebecca Minkoff]

I am.

[Jason Tardick]

And your brother is on the advisory board now, so he's not working in an active position.

[Rebecca Minkoff]

Correct.

[Jason Tardick]

But are you do you still have ownership in the company?

[Rebecca Minkoff]

I have a whopping.

[Jason Tardick]

Let's hear it figure. Drum roll. Here we go. Give me another clip.

[Rebecca Minkoff]

I have a whopping. No, I don't want this to be the clip.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

I have three and a half percent and then every year I earn another half percent that I'm there for years.

[Jason Tardick]

But you're paid a nice salary.

[Rebecca Minkoff]

Yes.

[Jason Tardick]

And that salary is a little bit more than 23,000.

[Rebecca Minkoff]

Just a little.

[Jason Tardick]

Just a little bit more. I love it. With Robin Hood Gold, you can enjoy the VIP treatment. Receiving a 3% IRA match on retirement contributions. The privileges of the very privileged are no longer exclusive. With Robinhood gold, your annual IRA contributions are boosted by 3% plus. You'll also get 4% APY on your cash and non retirement accounts. That's over eight times the national savings average. The perks of the high net worth are now available for any net worth. The new gold standard is here with Robinhood Gold. To receive your 3% boost on your annual IRA contributions, you'll just go to Robinhood.comgold. investing involves risk rate subject to change. 3% match requires Robinhood Gold at $5 a month for one year from first match. Must keep funds in IRA for five years. Go to Robinhood.comboost over eight times the national savings average. Account interest was claimed based on data from the FDIC as of November 18, 2024. Robinhood Financial LLC member ISPC Gold membership is offered by Robin Hood Gold LLC. Do you feel incentive? Like, do you still feel. A big question that we get from a lot of our listeners is like, when you do exit and it's your baby, you're giving up your baby. Not only are you giving up your baby, you're giving up your name. Your name is on the front door everywhere. Do you feel any bit of less incentivized only having three and a half percent of what you once had? 35%. And what advice would you have for someone dealing with that?

[Rebecca Minkoff]

Yes, I have to give the advice on the. On the split of the equity too, because I forgot to give advice.

[Jason Tardick]

Okay, I want to hear.

[Rebecca Minkoff]

So on the, on the amount I have now, someone actually asked me, they're like, so are these owners, are they telling you to work this hard? Like, are they giving you this crazy, insane goals? And I said, I'm doing all this because I love it and this is my name, this is my legacy. Yes, the percentage is fine, but like I'm doing it because this is what I love to do and what I've spent 20 years building. So you could say the numbers two or one. I'd probably act the same. I think the advice that I would give. If you're gonna sell, you are getting more married to these partners than any partner you're gonna shack up with. You better make sure that you fight for what works for you, for your unemployment agreement, for a salary, for, like, creative rights. And I feel I have that with them, and they've respected that. And so I feel like, great, I'm along for this ride, and I want to see it do well. You know, the advice that I would say for someone who's looking at an exit is get your ducks in a row, like, a lot sooner. It's not when it's a happening that you should be planning for this. It's like, think about and visualize. What do you want? Do you want to stay? Do you want to go? What's your role? What rights do you want to have? And really, really do the math and the diligence on that, because once it happens and it's not yours. You know, my first day in the new offices, when it really wasn't mine, I got a. I had a panic attack. I left.

[Jason Tardick]

No way.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Why?

[Rebecca Minkoff]

Because I was like, wow, this really isn't mine.

[Jason Tardick]

Did you feel like you had to, like, report to someone? It was very corporate. Like, what was the feeling?

[Rebecca Minkoff]

Well, it was a brand new office that they built fresh. And then, you know, all of a sudden I was like, oh, the ownership I had over, like, calling certain shots was now changing, and it was just an odd feeling. And I walked out the door, and I walked all the way home over the Brooklyn Bridge just to, like, wrap my head around, what is this new role? And how do I. Now I have to go to someone and ask for permission on something. I'm not used to that. Or they might say, no, you can't do that. And. And what do I do with that? Do I just say, okay, see, this.

[Jason Tardick]

Is like, as you're painting this picture, this is the scene I want to see on Real Housewives. Like, I want to see you have a panic, freak out, go through that. Why didn't they take it? What?

[Rebecca Minkoff]

Maybe you can make a phone call.

[Jason Tardick]

How do you. What does your panic attack look like?

[Rebecca Minkoff]

I took a long walk.

[Jason Tardick]

Long walk. But you, like, what? Like, in my head, I'm like, yell thing. Is it a breakdown thing? Is it a cry thing? Like Rebecca Minkoff?

[Rebecca Minkoff]

It was like I was, like, a little shaky inside. Like a little, like, knots. Yeah. And then in my head, Like, I have the old fashioned Rolodex and I'm just churning through. Is this the solution? Is this the solution? What about this? What about this? And my head is kind of going, yeah. And in those moments I'm not on my phone, I'm like looking out and I'm just trying to get like, like pull some stability from somewhere. And if I can find one thing, I can find another. And I just keep putting back what feels stable.

[Jason Tardick]

Yeah. Interesting. Well, obviously it worked out though. You exited it at the right times. The company has blown up. We're seeing a lot of change. We talked about it already with trends. So like E commerce is changing dramatically. It feels like right now from a marketing standpoint, everyone on social is doing out of the box strategies to like, get their product to go viral. I think we've seen it all at this point. Is there anything from a marketing standpoint while TikTok is moving in the direction it is and trends can happen overnight? That was a huge success. That worked for you guys.

[Rebecca Minkoff]

We used to do these scavenger hunts.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

Back in the day where we would say, you know what these, these hints will be at these locations.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And if you complete the scavenger hunt, you get a bag. And we would, we would normally time it around. There used to be this event here called Fashion Signed out, where it was like a New York City party with all the stores participating. So the streets were already alive with fashion enthusiasts. But then to do that scavenger hunt during that time just created this, like rabid, like women everywhere trying to find the hint and the bag and all to win. And that, that was really fun scavenger hunt.

[Jason Tardick]

Interesting. You might have to bring that back.

[Rebecca Minkoff]

I know. Maybe that should come back.

[Jason Tardick]

You might have to bring that back. Now. Someone that also has a social media influence like yourself, on the opposite side. Do you take brand deals? Do you ever work on a influencer perspective with brands?

[Rebecca Minkoff]

Yes, I do. As long as it's not competitive to what the brand has and makes, then yes. Okay, so health. Health products.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Magnum ice cream, for instance. Yeah, but. But yeah, I take, I take them.

[Jason Tardick]

Are you being on. So you're on both sides of the coin?

[Rebecca Minkoff]

I'm on both sides.

[Jason Tardick]

Writing checks. You're receiving checks.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

How do you handle the negotiation? And are you ever surprised at like, what rate comes through the door based on the checks you write for other influencers?

[Rebecca Minkoff]

Oh, that's a really good question. Sometimes I think that the checks are bigger than you'd expect. And then sometimes they're really small and you're like, you think I'm gonna say yes to that? But you're usually, I think if someone's coming to me, it's not. Cause I'm an influencer. I like to call people like founders, people of influence. So you're not.

[Jason Tardick]

I start telling myself that I'm a person of influence.

[Rebecca Minkoff]

You're a person of influencer.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

I'm not an influencer.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

So let's take a brand that I work with. I'm an investor and advisor in Biomy. It's a gut health supplement brand.

[Jason Tardick]

We were talking about this last night.

[Rebecca Minkoff]

That's right.

[Jason Tardick]

I love Biomy. Yeah, the chocolate flav fire.

[Rebecca Minkoff]

Okay, so I'm gonna try the chocolate mixed with the vanilla.

[Jason Tardick]

Now try that. It's so. And throw peanut butter and then throw in a banana in there.

[Rebecca Minkoff]

Oh, wow.

[Jason Tardick]

Unbelievable.

[Rebecca Minkoff]

Okay, so that sounds really delicious. So that's one where I know I can talk about it. I know it's also true to what I'm doing. You're not going to see me suddenly do a Wendy's commercial. Like, I'm only also doing deals. That's like, I'm into biohacking and health.

[Jason Tardick]

What if Wendy's came to you with like a million dollar deal?

[Rebecca Minkoff]

I would say, can we make an organic grass fed burger, please? Then I would take that deal.

[Jason Tardick]

Okay, gotcha. But if they said no to the organic grass fed burger, you wouldn't do it.

[Rebecca Minkoff]

I would make them change something. Like, can we make the fries and beef tallow? Like, I would have to do something. I can't just take a check like that.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

And also, I think you lose credibility. People are like, wait a second. Here's your list of vitamins. Here's your workout program. You're working out all the time and now you're doing Wendy's. Like, oh, I know you just took the check.

[Jason Tardick]

The inconsistency of it.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Okay, so you wouldn't do that. But Bio Me is something that you invested in. Have you invested in any other companies that completely took off? Like, do you have a Grammy or an Oscar and a company you invested in? That was like a huge win, man.

[Rebecca Minkoff]

I wish. No, sadly, no.

[Jason Tardick]

Except your own.

[Rebecca Minkoff]

Except my own. All my blood, sweat and tears.

[Jason Tardick]

That is a big one to have something you. Todd, now I kind of want to go into the consumer side. We just learned a lot about your businesses. The numbers, the success. But the people that don't have the desire to do what you did, but they want to learn from an Expert in the field. If you are buying a bag, what are things that you know? If I talk to someone who owns a car dealer, they can tell me 15 things like, watch out for this, don't get the warranty. Watch this when you do this, what are some of the things? Like, as a consumer we might not know that you can give us, like a little secret into when consuming for a bag.

[Rebecca Minkoff]

Ooh, I love these. Okay, first and foremost, the metal. A lot of people will use an alloy to make the metal cheaper and lighter. So if you tap the metal, let's say the hardware on the bag, and it sounds chintzy, don't buy it. It will break and it will peel and crack and flake. So you want something of substance, but it's not too heavy.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

If it makes the right sound, you'll know. It's like crystal makes the right sound. When you go, the hardware sounds like, oh, that's actually metal.

[Jason Tardick]

So tap the hardware.

[Rebecca Minkoff]

Tap the hardware.

[Jason Tardick]

Okay, that's a good one.

[Rebecca Minkoff]

If the bag looks painted, it will crack and peel.

[Jason Tardick]

How do you know if it looks painted?

[Rebecca Minkoff]

Because you can't see any grain. It's just like a flat surface. Like, imagine a cheap car, right? Eventually it cracks and peels the seat on the inside. Okay, so the paint, so the paint, look for stitching, you know, was it done haphazardly? Are there little threads hanging off that's all gonna come undone? And then I would also say, like, did the bag that was made get wear tested? Like, is the phone pocket in the right spot? Is this crossbody strap in the right spot? Like, when you put it on, is it tilting weirdly? You know, if it's a turn lock, does it actually truly lock or is it a little loose? Like, those are all things that you can tell a bag that's made inexpensively. And. And then if the interior is made of a nylon, it should be thick because if it's thin, it gets holes in it. And then all your stuff is like hidden and you think you've lost your keys or your license, but really it's just behind the bag.

[Jason Tardick]

Interesting. Those are really, really good ones. From a price point though, they are like, I don't think, like, I think people are going to be surprised by that. But from a price point perspective, at what point do you think someone is buying a bag strictly for just the name and not the actual quality? Like, if you are spending over this amount, when is it just for name and not quality?

[Rebecca Minkoff]

If you are spending anything over a thousand dollars, it is Just for that plaque. It's just for that brand equity and value. And I know this because we used to make in some of the same factories of some of those brands that say they're made other places and they're not. And I've seen those bags being made and they cost the same as mine to make. But they did have Italian leather. And let's say my leather was from Brazil or somewhere else. And I will say at one point, we were using the same leather vendor from a bag company that was charging 10 times more than me. And I was like, wow, that's ins.

[Jason Tardick]

Did that make you want to increase your prices, though?

[Rebecca Minkoff]

It did, but my customer, we are luxury for my customer. So I would just be saying, bye, I don't care about you anymore.

[Jason Tardick]

Yeah, it's like honing in on your customer is everything.

[Rebecca Minkoff]

Yeah. And so we've made sure that as I've gotten older and made more than $23,000 a year, that we make a bag that's under 500. And then we've also said, okay, good, we want Gen Z to want the bag. So what's a $95 bag?

[Jason Tardick]

Yeah, that's great. Good advice for people that are buying. Interesting. A thousand or more. You're just buying the name. Another question a lot of people had is how many employees at this point have you. Do you think have worked for you? Like, if you had to guess over the years, total, either come or gone? Give me a roundabout number.

[Rebecca Minkoff]

Under a thousand.

[Jason Tardick]

Okay, so let's just call it a thousand. Thousand people have worked for you and they have to come to you and negotiate either when they're coming to work for you initially or their annual review. It's annual review season right now. What are some of, like, the best in class things you've seen that have worked when people are trying to negotiate with you? And what are some of the worst in class things you've seen best in.

[Rebecca Minkoff]

Class is you come to me and you say, this is how within my area, I've increased X by X amount. Because I'm here. I notice a change in this, this, and this. Because I am here. Cross. Functionally, I improved this between our teams, which resulted in growth and productivity. What I don't wanna hear is, oh, I know the la. The company lost money, but, like, I did a good job this year. Well, I'm sorry, like, the company didn't do well. So you, you know, unless you're figuring out how you are so incredible, we can't live without you, or you improved other areas because you are working in a team.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And, and you can see that all the ships rose. It's hard to give those raises just because one person did a good job if everyone else sank.

[Jason Tardick]

Yeah, that's fair.

[Rebecca Minkoff]

Or hey, so and so is offering me more money. I mean, good or bad? The way people are making more money these days is they're leaving and they're.

[Jason Tardick]

Getting true the zigzag, zigbag. Go here, go here.

[Rebecca Minkoff]

Right? And it sucks because I fall in love with people and I want them to stay with me forever. And I'm like, even if I gave you 10%, 10 to 15% raise every year, you're still gonna get more than that by jumping.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And that's hard. And you see people work at places for less time and then you're always almost starting over.

[Jason Tardick]

You know, I've been thinking about my schedule lately. When I go to the gym, 20 minutes there, 20 minutes back, 20 minutes of small talk, half hour, 45 minutes of getting showered becomes a three hour event. So I am mixing in some workouts at home and I have the best at home gym out there. I can work out 247 with Tonal. Tonal is the world's smartest workout that effortlessly will fit into the busiest lifestyle. In the latest iteration, Tonal 2, you can ensure your workout is even more tailored and effective than ever. They will adjust in 1 pound increments with adaptive weight that now goes up to 250 pounds, challenging even the most advanced user to push their limits. What I also think is cool is they have this new built in feature that is smart view and it leverages a high resolution camera that lets you see yourself during your workout and it will analyze your movement and provides real time coaching just like a personal trainer. So when it comes to working out at home, the future is here. And it's here with tonal. Tonal is now offering listeners 200 off your tonal purchase. When you use promo code trading secrets, that's tonal.com and use promo code trading secrets for 200 off your purchase, that's tonal.com trading secrets for the code and that'll get you 200 off tonal.com code trading secrets for $200 off. TikTok has a rule that my understanding is if you go out and get an offer somewhere else and you come back to them say hey, I got this offer, can you guys match it? They have to say you can no longer work here like it's a thing that you can't work there anymore. If you go, really? They're like, if you went to get an offer, you now have to go. We're not going to match it. We're not going to discuss it. So they don't, as a result of that, go get offers because they know if they do, game's over. Did you have any, like, interesting rules as far as, like, that is connected, or did you do anything different from a management perspect? Either retain, empower, or inspire some of the people that worked for you?

[Rebecca Minkoff]

I'll tell the ones I'm the opposite. I'll tell the ones I love. If you go get an offer, please bring it to me so that I can see if I can match it or exceed it.

[Jason Tardick]

Wow.

[Rebecca Minkoff]

I hate. I would hate that that would be the reason you got a raise. But if you're leaving because you know you can go get X, please come to me first and let me see what I can do.

[Jason Tardick]

This is just a random question. I'm going back to Real Housewives. Like, your. Your. Your depth is so.

[Rebecca Minkoff]

I can't get away from it.

[Jason Tardick]

It connects to your business, though. Like, your acumen is so. What? What? What?

[Rebecca Minkoff]

No, someone. I did a podcast, and someone's like, like, you're not even on it anymore. Will you stop talking about it? I'm like, I'm not the one coming up with the question. Okay, I'm being asked. What do you want me to say? I won't talk about it.

[Jason Tardick]

I mean, it just. It's hot right now. It's hot, and you're hot.

[Rebecca Minkoff]

I don't want to be blamed for it.

[Jason Tardick]

Okay, you shouldn't be blamed for it.

[Rebecca Minkoff]

You. You. It's your fault.

[Jason Tardick]

It's my fault. I'm taking ownership right here. I'm asking the questions. I mean this, though. Your business acumen is so deep and your knowledge is insanely impressive, and then you're going into some of these situations.

[Rebecca Minkoff]

Where now you know why I didn't.

[Jason Tardick]

React well, my question is, how did you not react?

[Rebecca Minkoff]

Because I was like.

[Jason Tardick]

Because, like, you're. You have, like. From a business perspective, you could run circles around most of your colleagues. I said it. You didn't say it. How do you not, like, flex that? Like, how do you. Like, how did you not step into that and be like, all right, you want to spar? You want to talk business and all your success, let's spar? Like, how did you not do that?

[Rebecca Minkoff]

I just felt like it was wasting my breath. Like, you're. If you can't understand why selling to Nordstrom Rack is part of a business strategy. And you think that's a bad thing? Go in there, honey. Tom Ford St. Laurent, you name it, they sell there. Like, I don't have to. I don't have time to waste my breath on you. I'm trying to conserve my energy. And you, you clearly don't understand business. Or I think one line she said was, like, well, I'm in pr, so I get it. I want to be like. Like, how's that working out for you now, sis? Not so good.

[Jason Tardick]

But you did it. Held your composure.

[Rebecca Minkoff]

You didn't receive it really well there.

[Jason Tardick]

I said a little bit. Yeah, there you go. We got something here. I love it. All right, talk to me about. I mean, we've talked a lot about this episode on it, but your new book, Fearless the New Rules for Unlocking Creativity, Courage, and Success. A lot. You're doing a lot with female empowerment. And I would say our listener base is about 60% women that listen to this. So what are some of, like, the tips and hacks that they can expect to get from your book?

[Rebecca Minkoff]

So this book, the problem that it solves for anyone reading it is you don't read the book and then throw your hair back and say, I'm fearless. Now. I can approach life with no fear. No, you're going to be scared. But here, again, the things you can hold onto for stability that will allow you to take that risk even though you're scared. And so for me, it's 22 just business principles that I've used now twice. Having started my business and then almost losing it and rebuilding that, I was like, let's see if it works again. And they're simple things. We talked about partnership with my brother and how that worked. Well, you need to assess and come to the table with any partner, marital, spouse or whatever, and business, and get on the same page. And you have to do that a lot. And when you don't, you veer off and you start doing other things or really weighing every risk. What will happen? What's the worst case scenario if I do this and if it fails, I'm not a failure. What did I learn? And so I think it's just these easy to remember things that you can use in those moments where you're like, I'm scared shitless. What do I do? Oh, right. Rebecca said, what's the worst that can happen? And, okay, good knowing that. Like I said to myself with Housewives, what's the worst that could happen?

[Jason Tardick]

Use that rule. Why 22?

[Rebecca Minkoff]

What's the 22 number originally was 21, and then I went in and added a whole chapter for the paperback about money.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

Oh, and we talk about sex. They talk about their babies.

[Jason Tardick]

Thank you. That's what we do. That's what we talk about here. No one talks about money.

[Rebecca Minkoff]

Why are we talking about what I invested in and how I'm, you know, saving for the future and making a nest egg? And, like, why isn't the first thing out of my mouth when I see my best friend like. Like, oh, God, what stock were you? And that just plummeted, you know, like 100. So it's really about getting comfort with the language of money. I wasn't comfortable for a long time. Yeah, but we have to. If we're gonna ever be on par with you men, we need to talk about it.

[Jason Tardick]

Why do you think it is that that conversation's avoided? What's your theory?

[Rebecca Minkoff]

I think that women somehow, somewhere, were marketed to or unconsciously told that, you know, it's shameful to talk about money or it's shameful to negotiate. I love negotiating. Now I just like to, like, see the reaction I'm gonna get when I negotiate. Like, my colleague at Female Founder Collective, my co founder, was like, tell them a number that makes you want to vomit when you're asking for something. And I was like, okay, do you do that? I do.

[Jason Tardick]

And do you do it? You just do straight face. This is the number. Get there.

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

And what's usually the reaction?

[Rebecca Minkoff]

Do they vomit sometimes? No, no. It's a number that I say that I want to vomit.

[Jason Tardick]

Oh, I thought it's the one that you take their place. Oh.

[Rebecca Minkoff]

Then they'd all walk away.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

No. So like, I was working on a podcast deal.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

And it was for several episodes, and it was an advertiser, and I was like, fuck it, I'm asking for this.

[Jason Tardick]

How much was it?

[Rebecca Minkoff]

It was for $75,000 for, I think, three to four episodes as an integrated partner.

[Jason Tardick]

Sweet.

[Rebecca Minkoff]

And I just went for it. And they're like, yeah, that sounds great. And I was like, ah, shit.

[Jason Tardick]

I could have gone deeper.

[Rebecca Minkoff]

And sometimes people say no. And they're like, all right, what is a number you can do that's close to that? But you have to get, like, that poker face. When my husband was like, I'm dating someone before, obviously, we were married. And I was like, let me know what happens with that. And you just, you know, with money.

[Jason Tardick]

And especially this topic, women speaking about it and continuing to grow in space. Do you have a take on prenups or post nups or anything like that.

[Rebecca Minkoff]

So I remember we were about to get married, and I was like, babe, babe, we need a prenup. And I had nothing, and he had nothing. But I knew I was gonna be something, and I knew he could be something. And so somewhere there's a napkin that's like, what's mine is mine.

[Jason Tardick]

You're a big napkin contract, girl. That's your second one. Those are two big contracts too.

[Rebecca Minkoff]

I know. What's mine is mine. What's your yours is yours is what it said.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Now. Now how we structure things is there's a joint account for family, and then everything else we make on the side is just ours to do whatever we want. And I inserted a floozy clause into our. Into our will.

[Jason Tardick]

What's a floozy clause?

[Rebecca Minkoff]

If I die and he shacks up with some new hot young thing.

[Jason Tardick]

This is unbelievable. Is this on the napkin or is this the real concept?

[Rebecca Minkoff]

It's actually legitimate.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

He shacks up with someone, immediately. All my assets, everything goes into a trust for the case kids. So that girl has no chance of getting anything that I made.

[Jason Tardick]

So if you pass, this is if you pass away.

[Rebecca Minkoff]

Yeah, you pass or we get divorced.

[Jason Tardick]

This is killing me. So if you pass away, which hopefully never. Well, we're all gonna die at some point, but he's still going. If he gets a wife, he's done. He's out.

[Rebecca Minkoff]

No, he's not out. It's just everything goes to the kids. And he can manage it, but he can't go buy her stuff with that money. Like, they're very. Yeah.

[Jason Tardick]

Is this, like, amongst your friend group? Is this a closet?

[Rebecca Minkoff]

My mom came up with it, and I was like, that is smart. Was like, babe, we're putting in a floozy class.

[Jason Tardick]

Gotcha. What? Like, I've never heard of this. I'm so intrigued. Hang on. So if something happens, you get divorced and he doesn't end up with someone, he's just single?

[Rebecca Minkoff]

Yeah.

[Jason Tardick]

Then what?

[Rebecca Minkoff]

Then the assets. Well, then when you get divorced, you divide your assets.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Yeah. So is unbelievable.

[Jason Tardick]

Is such a power play. Have a floozy clause.

[Rebecca Minkoff]

I wanted to just insert it. Not that I don't trust my husband, but my mom was like. Like, it's not that you don't trust your husband, but it's the spell another woman can cast on them after you're dead.

[Jason Tardick]

Wow.

[Rebecca Minkoff]

I don't know. Call me crazy.

[Jason Tardick]

Your mom knows. Last one I got for you is when you started. You guys started dating Obviously, get married, you start to. You're starting to make some good money. Like, how did you manage expenses? And what advice do you have for anyone listening out there when they're starting to get a relationship? How to actually manage expenses based on maybe income differentiators?

[Rebecca Minkoff]

It's a great question, and I'm happy you asked this in the beginning. Again, both of us had nothing. And I was like, he's going to be successful before I'm going to be successful. So I'm going to depend on him to, like, take it a little easy and like, grow slowly. And then my career, the ability. He's a director and mostly of commercials, so he makes great money. But, like, mine has been more steady. I would say over the long term, he'll get a great paying gig and then. And two weeks later, another one. And so how we set it up is whoever is making more, depending on what that ratio that one takes. So if I'm making a third more, then I'm putting in a third more into the family and joint account.

[Jason Tardick]

Love that.

[Rebecca Minkoff]

And then again, the rest of the money is mine. So we just, we have this central place that's for the family, for the kids, whoever's making more at whatever, like, take it on a year by year basis.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

You put in who you know. If you're making a hundred and I'm making 200 grade, I'm putting in double.

[Jason Tardick]

Unbelievable. You got to call that something, too.

[Rebecca Minkoff]

I know. Because the flu.

[Jason Tardick]

No, we need a name for this.

[Rebecca Minkoff]

The salary ratio. Deal.

[Jason Tardick]

Okay. I like teeter totter.

[Rebecca Minkoff]

Teeter totter.

[Jason Tardick]

I think I might have done something like this in the book where, like, based on the teeter totter, you put. I think if you make more than 15% of your partner.

[Rebecca Minkoff]

Yes.

[Jason Tardick]

You use the teeter totter and then it's like you'll put in the percentage based on how much you make in comparison.

[Rebecca Minkoff]

I love that idea.

[Jason Tardick]

Totter totter, Here we go.

[Rebecca Minkoff]

Because the amount of friends I have, they're like, I gotta ask my husband if I can buy that. I'm like, you make your own money.

[Jason Tardick]

Yeah.

[Rebecca Minkoff]

Bend it, right?

[Jason Tardick]

And you can't have those solutions unless you talk about it. And that is one of your 22 principles. Where can everyone find your book?

[Rebecca Minkoff]

You can get my book on Amazon, Target, Barnes and Noble, wherever books are sold, buy the book and leave me a review, please.

[Jason Tardick]

Okay, where do you leave. You can leave a review on Amazon sites, right? On Amazon. Okay. Leave a review. Before I get your trading secret. Did you enjoy. Do you enjoy this book process, do you enjoy like, like writing it and then marketing it?

[Rebecca Minkoff]

Writing it was way harder than I thought. I remember when I would see other writers like, woe is me, I'm suffering. I was like, you're a loser over it.

[Jason Tardick]

You're writing a book.

[Rebecca Minkoff]

And then I went to write it, I was like, oh, this shit's hard. Birthing it is even harder.

[Jason Tardick]

I was gonna say birthing it is way harder than writing. Way harder than writing it sucks.

[Rebecca Minkoff]

Yes, yes.

[Jason Tardick]

Okay.

[Rebecca Minkoff]

But it's fun. And I rely greatly in my. I have an incredible PR team. Shout out to Jamie and Ebony and Social Taylor. Like the Harper Collins team. They've been incredible. So, yeah, that, that makes it easier.

[Jason Tardick]

Amazing. All right, well, we got to get a trading secret from you. We've gotten a lot from you so far. But you can't get this trading secret from a professor or a textbook or a TikTok tutorial only from Rebecca Minkoff. Given it could be financial, professional or personal, whatever. You can leave us with one trading secret.

[Rebecca Minkoff]

We are in an age of instant gratification everywhere. Your career is not going to be that ever. You need to adjust your time horizon and expectations for a long term game. I don't know of a cheat code here. And make your decisions based on the long game. And make your business, you know, Northern Starlight or whatever you want to call it, your North Star based on that. Not like, oh, I'm going to be a billionaire in a month, or, oh, I'm going to be a multimillion dollar company in two years. Like, just play the long game. Because to build something that lasts and stands the test of time is hard and it takes a long time.

[Jason Tardick]

And I think you're an example of that because you had the long game. You had the North Star. When things were going well, it worked out. But when things were, I mean, going really not well, you still powered through. And I don't think if you don't have that North Star, why else would you power through? You just ended at that point. You've done well. You built the brand. It's done. You obviously saw something, though, and it's so much. I think it's so much easier said than done. I think a lot of people say that they don't do it. A lot of people think they're gonna make 3 million and then they lose 3 million and stop. And you just kept like, honestly, like, for some reason the scene of Rocky's coming, like, you know, it's like, how many hits can you take? And Just keep moving forward. And you guys did. And then you. You exited 2022, and now you're the CCO of the company. And. And you want a real Housewife. So how about that?

[Rebecca Minkoff]

How about that? Take that brim.

[Jason Tardick]

That is a traded secret. All right, Rebecca, where can everyone find everything you have going on? We know where the book is. Where can they find all your stuff?

[Rebecca Minkoff]

You can listen to my podcast, Super Women with Rebecca Minkoff. Sadly, I can never have you on. And you can follow me at Rebecca Minkoff, Becky Minkoff, and buy some stuff. Rebecca minkoff.com buy some stuff.

[Jason Tardick]

Those bags are selling. Thanks to Real Housewives. And if you ever do, like, an integrated podcast where you're going to negotiate now. 150,000, not 75,000. It's not all women guests. I'd love to. Come on.

[Rebecca Minkoff]

Oh, that's a good idea. Maybe I should start a new one.

[Jason Tardick]

Let's do it. Thank you for being on this episode, Drake Secretary Rebecca.

[Rebecca Minkoff]

Thank you for having me.

[Jason Tardick]

Ding, ding, ding. We are closing in the bell to the Rebecca Minkoff episodes. One of my favorites. An absolute electrifying business boss woman. David, the best part about these episodes is sometimes I think they're the best, sometimes I think they're the worst. And you think usually the opposite. I thought this was one of the best. Best. So I'm curious, what'd you think?

[David]

Yeah, I'm gonna have to side with you on this one and agree with you, actually, which is going to be a flip the script from what we normally do. But I gotta say, I have in my notes here, I have. It was an absolute master class of an interview by you, first of all. So that's a prop there. I thought that. And I think by her reactions and some of the questions and the way that she answered, like she was excited to. Which means you did a really good job and transitioning and seguing into things and asking these people things that they're excited to talk about once the episode's over. Like, holy shit. I've never talked about that. And I think you did a great job. And I thought that she was really, really into it. And then when it comes to her, I mean, she is the definition of, like, boss lady. And it's not just the business aspect of it. I thought the way that she was able to speak to her business, the numbers of the business, some of the terminology that she was using, that after four years of doing this, I actually know what EBITDA means and PE and VC and all that. Stu. So snaps to us. But it's also like her care of like people and her and her customers and her clients and communicating those things to her. I was really, really fascinated. I was actually really motivated listening to her. And I, and I don't. I've heard the name forever. I have no clue like who she is. So to put some, some face to the name and care about her story, I thought it was, I thought it was really, really, really cool.

[Rebecca Minkoff]

Good.

[Jason Tardick]

It is tough to get a 10 out of 10 review from David. So we will take it. I mean, yeah, household name. Like everyone knows the brand. Rebecca Minkoff. And I think it's great that she is now putting who she is to that brand. And the story of that brand is, I mean, just kind of, I mean, just like using her brother's Amex and like how they started it and where they've come and then they sold it, then they sold it again and then they had the low dip. Like it was kind of just crazy storytelling telling. Before I even go any further, I gotta ask, is, is Carter sleeping? Are you tired? I need a little bit more out of you here. I feel like you're whispering here. This is not the David we know and love in the recap.

[David]

Oh, no, no, I'm great. Are you kidding me? I'm, I'm firing on all cylinders here. I'm actually in Orlando, Florida. Just finished off a little, little three night, kind of a quick trip down here. Get a little vitamin D on the skin. So we're feeling good there. Vitamin D. Carter is down though, and, but, but he's, he's doing great. Now, more importantly, about me, I, I'm, I'm wondering about you. Are you, are you, are you in your, your house right now or are you in a hospital bed? Because that back, I'm worried about that back, dude.

[Jason Tardick]

I don't know what the hell's going on with me. I'm, I'm getting old man. Washed up. Weirdest thing. I talked about it on my Instagram and stuff, but we do the RV trip. I knew I heard it lifting and something set it off, off. And bro, that pain that Monday night, I have never ever, I hope to never feel pain like that for that long ever again. Going to the hospital, crawling all fours. I get shot with steroids. Still taking steroids. Just about to finish the pack. I go get an MRI tomorrow, so I'm hoping I don't have herniated disc and just like a bulge disc right now. Knees to my knees, to my toes. It's like still Tingly, which is crazy. And to put in perspective, I don't know, man, like, not to sound douchey, but like two, three weeks ago, maybe a month ago, I was squatting probably like 295 pounds. And right now I can't, I can't do a squat on my foot. I can't do a one legged squat. I fall.

[David]

Are you sure?

[Jason Tardick]

It's like I had a stroke or something.

[David]

Are you sure it's not from the RV life that this happened and not from weightlifting?

[Jason Tardick]

I think it's from weight. I think there was like, I talked to the doctor. They're like, it's probably like a three out of four. Like, you probably had something going on and it was just a matter of what was going to like do it. And 14 hours of. Because when you're in that RV, it's like the whole time it's like you're balancing, like you hear the whole thing rocking. So, like, I'm sure that didn't help. But you know what? We're on the mend. I haven't had a full week in Nashville in a while, so that's been good. I have another full week coming up. So.

[David]

Has it been good? Is it, has it, has it been good?

[Jason Tardick]

It's been, it's been great. And we'll get back into, we'll get back into Rebecca Minkoff episode, but we're on a, we're on a little detour here. Yeah, today wasn't great. Today wasn't great. It's been great. Otherwise. Today was the first day I didn't do any work and I didn't really, like numb myself with productivity. I was just like sitting around and I'm, I don't know.

[David]

So maybe that is great.

[Jason Tardick]

Maybe the. Actually, maybe that's exactly great. I've been thinking, I'm like, wow, like, what am I want out of life? What am I like, I'm here 36, like, I'm gross, so happy I have a dog. But like, I kind of don't. Like, what am I doing?

[David]

You know what the, you know what the great, what the great part about Safe Space recap moment segments are is you never know when they're going to come in the recap. At some point, at some point we're going to talk. We're going to be a safe space. It might be right off the heels of complimenting our guests and our inner and the person that we had on the podcast, and it might be at the end and it might be at the start, but right now it's a safe space. So the fact that you're in your feels and you're. And you didn't numb yourself with work, to me, I hear those. I'm like, that's a good thing, Jason. Jason.

[Jason Tardick]

That's true. It's a good way to, like, kind of, like, reconnect with myself. And I was thinking today, I was like, all right, I gotta get. We talked a little bit about this last week. I was like, I gotta get like, a little bit more. Like, I'm just, like, kicking the can on everything. I'm just working and working and working and working. Yeah. Morning. Did TV thing that. A podcast. And when you do that, you don't focus on your personal life or do anything for yourself. And I feel like I. I gotta get that together.

[David]

And the only thing that changes is gonna be the number when you use to explain yourself as you reflect on what you're doing. I'm 36. I'm in Nashville. And all sudden, I'm 37. I'm still 30, 38, and still Nashville. It's like these time that just flies by if you neglect it.

[Jason Tardick]

Yeah. And it's not even the Nashville thing. It's more just like.

[David]

Yeah.

[Jason Tardick]

Sitting here on a Sunday, like, on my couch by myself with the dog. I don't know. I don't know. I'm just in a weird mood today, man. It's weird vibes on this Sunday. I don't know. I'll figure it out. Out. Well, it's good. It's. It's good. This is what I needed to, like, by the part of me slowing down a little bit. Yeah. And even getting a dog and everything is like, having time to, like, reconnect with. With me. So that's it. That's what we're doing.

[David]

You got to do a little one, one, one method. You got to do. Do a little, you know, we talked about it Yesterday, breathing method.

[Jason Tardick]

1, 2. How do you do?

[David]

We're Rebecca Minkoff, Trading Secret. We're in an age of everyone wants instant gratification everywhere. Sometimes that's not going to happen in life, especially your career. So, you know, sometimes it's okay to just take a breath, man. Take a breath.

[Jason Tardick]

Yeah, take a breath. Take a breath. And I'm enjoying this whole, like, single life. I'm enjoying it. It's. It is great, man. I. There are things about it I am absolutely loving. But there are moments, I think, especially on, like, a Sunday, because, remember, we talked a little bit about this on the podcast. I find it Kind of interesting that our brains are programmed at certain times to really want companionship. Right. Like, so for me, it was like, if I look at the last 15 years of what I've been in relationships, I usually connect with that person in the morning, night. So it's morning and night. And once I'm missing that, and I do feel like Sundays are definitely a day where like I'm missing that. That if I'm missing that person in my life. You know what I'm saying?

[David]

That's why we are. That's why we started recapping late Sunday nights.

[Jason Tardick]

Yeah. So you can get me ready Sunday if Sunday nights are my all time, 100% peak of feels. But yeah, man, I don't know. It's. Whatever it is what it is. It's good week. A lot of good work stuff. We did a couple little TV segments. We did the non for profit for let's have Cancer. We did some other work with. With Wags and Walks that will be out here soon, which is cool. So it's good. I feel good about this week. Good week. Good, good.

[David]

Awesome.

[Jason Tardick]

All right, now let's get back to Rebecca. What were some. There are a lot of numbers here, David. Yeah, I mean, we draw like, what.

[David]

Blew you away before we get into numbers, typically. I am the spokesperson for Reality TV B. And there was one that was referenced twice in the. In the pod with her and Bryn. I believe it was.

[Jason Tardick]

Yeah.

[David]

Can you film me? Can you give me. And if there's anyone else that was listening, I was like, oh, I did. I don't know what the beef is, but it seems pretty out there, seems pretty public knowledge.

[Jason Tardick]

It seems like Bryn, like, if you watch the show, Bryn was always trying, like towards the end, especially trying to get a rise out of Rebecca Minkoff. I think there was a common theme in the show. Show that the girls expected and wanted more out of Rebecca. And by that they wanted more pop, more drama, more, you know, more fanatics to add to the ratings. And they felt like they weren't getting that. And I feel like there was a little buzz around that in the audience that was watching. And I think internally, I think Bryn was like, all right, if you're not gonna give it to me, I'm gonna get it from you. And she would take different shots at her. And one of the shots she said was like. Like she talked about her purses. Like, oh, you can only get those purses at Nordstrom Rack. Like, totally. Just trying to like chirp her now. I just went on Bryn's podcast. Bryn came on my podcast. Okay, Bryn, I cannot wait to hear what you think of this episode because you are either going to love it or you are going to despise it. But she is firefighter. Boom, boom. Quick, witty, flirty. Quick, witty, flirty, non stop. Here we go. So they're polar opposites as far as, like their styles, their communication, their accuracy. Like, you could see how they butt heads a little bit.

[David]

Well, it's going to be tough for Brand because I am team Rebecca Minkoff right now. So we'll see though. You know me, I'll give it. I'll give it its fair shot. But when it comes to numbers, Jay, you want to talk numbers? I think the biggest thing that shocked me was the way that the business started. The $250,000 on the Amex credit line. And then she's like, oh, yeah. And then he mortgaged his house. I thought that was just crazy. And then the last thing that I found really, really interesting was her talking about after she sold her company and she was the cco, she went back in the new offices and had a panic attack on the first day and had to walk home. Walked all the way across the Brooklyn Bridge because she was just like, I should be happy. I should be this. My name is still on it. I sold for a boatload of money and now I have to ask permission to do things in what I used to do whatever I wanted. So I thought that was a really good perspective as well. Just putting, doing, you know, a little POV in her shoes in that moment of her life. So those are. Those are some things that stuck out.

[Jason Tardick]

To me that was so real, that was so raw. And I think it kind of connects. Like, do you ever have those situations, like, where your mind and your heart and let's say, like just everything is telling you one thing, but then your body, you can't control it and your body's just telling you something else. Like, you go into situations and your heart just starts racing. You can't understand why, or you go into situations and you start sweating or you have these, like, panic attacks. Like, all these things. Like, I feel like it's a very, very real thing. And I don't know like that. To me it was really relatable because that happens to me a lot. And sometimes I don't listen to it and I fight my body as opposed to listening to it. And I'm really not sure what the answer is.

[Rebecca Minkoff]

Right.

[Jason Tardick]

Like, is the answer. Take that panic attack and learn a lesson. Is the answer continue to fight and just stay there and not worry about it.

[David]

Well, it's also like, like in that 15 seconds where you could be reacting how, how many, how many days, how many weeks, how many years, how many minutes are you going to spend a recovery time for whatever, however you act. So like our reactions in those moments are like we can, we can do something in that moment that may cause further, you know, work or damage or something to like get back to that place or we can just remove ourself, take a breath, breath, reflect, refocus and then be able to like save yourself some face or save yourself some time in not overreacting to a situation.

[Jason Tardick]

My biggest fear with panic attacks, which I've had plenty of my life, is that because it's an uncontrollable thing you can't control, like you have no control over it when it hits. You have a control of when it hits, how you manage it. But when it hits, hits. My fear is the panic attack is going to come at a time that it can't come. You know, I'm right, like, I think like, okay, I'm live on tv. Is it going to hit? I have to give a speech in front of 200 people. Is it going to hit? I have a huge moment at Tick Tock headquarters going to hit and those are the things I worry about. But I don't know if anyone, if.

[David]

You thought about it, how, how would you handle it?

[Jason Tardick]

I mean I usually just, I manifest out of it. I'm like, no, like, like the thought will cross my mind. I'm giving a speech in front of 200 people. What if panic attack hits? And I said I to myself, I say it's not going to hit. This is what you do, this is your forte. You're going to get up there, you're going to make an impact, you're going to crush this thing. It's going to go perfectly and you're going to be good. And if I start to feel like, let's say I'm in the middle of it and I do feel it and that's happened. Dude, I've been in the middle of a speech. I remember I was in Toronto to all a Snapchat and tip TikTok headquarters and social media people, there's like hundreds of people there and I was late because we were running from the plane and in the middle of speech, like the speech was going great. I'm speaking like this in the middle of speech, I start to have a panic attack but I can't speak. Stop and I remember in my head, like, slowing down and breathing, and no one knew, no one could see it, no one could feel it, no one could do anything. And the speech went great, but I think it's just, like slowing everything down.

[David]

I'm gonna have to learn that because I actually love public speaking or, like, giving, like, you know, speeches or like, talking in front of, like, I do it a lot in hockey, obviously in locker room. I have this thing, though, where I. I cry a lot when I public speak. And I know that it's like, coming off on and same thing. I'll be like, crushing in the middle of it and be like, huh, you haven't cried yet. And then the next, like, sentence that comes, like, I start, like, getting emotional.

[Jason Tardick]

I think it's because emotions, you're like, adrenaline's at so such a height. Like, I remember when I was on Chris Harrison's podcast long time ago, talking about the breakup and stuff. I remember my adrenaline was so high going into that podcast because I knew what we were going to talk about and I didn't want to talk about it. And so the second it did, like, the tears hit. And I do think, like, when your adrenaline's high, your emotions connect with that, that sensitivity.

[David]

Well, I almost have had to stop pre. I've had to stop writing things down before speeches, and I've had to start winging almost everything because if I know what I'm about to say, I will know that I'll get emotional if I don't know what I'm about to say. I have to, like, fight or flight in that moment to, like, deliver. And then you kind of get through it. Maybe sometimes you sacrifice it not being as good.

[Jason Tardick]

Interesting.

[David]

I don't know, the panic attack, the. The triggers that we have in our brain. Sometimes times it's crazy. Kind of crazy.

[Jason Tardick]

What did you think of her trading secret?

[David]

Well, I thought it was fantastic because it was, you know, for those who call it a refresher, she said, we are in the age of instant gratification everywhere, but your career will never be that. And I just loved it because it. Hopefully there's people out there that are resonating and grinding every day and doing maybe things outside of their job description or their norms or they're trying to overachieve, achieve in hopes that if you do that long enough, the right people will see it. You'll start feeling a lot more like self worth and you'll start feeling proving a lot more value. I hope that was just like a moment that people could be like, okay, good. Because, like, it's working or it's going to work or everything that I'm doing is for a purpose. Because I think the fact that we are looking for instant gratification in a lot of places and you don't get that from work very often, if ever.

[Jason Tardick]

Yeah, it's true.

[David]

What you think about it.

[Jason Tardick]

I thought was. I, I, I honestly, I thought it was great. I thought it was a phenomenal training secret. I gave my perspective on it when, when she said it. And I could have talked to her for another two hours. She's, you know. And then in talking to her after, I'll say she. Some of those things she teased. She's got some cool stuff happening that's like, it's like, if you think she's badass now, just wait.

[David]

So can I ask you a question?

[Jason Tardick]

Yeah.

[David]

What do you. Like, she threw some numbers out there. What do you think her net worth is? I know that's a fugate. That's a little bit of fugazi kind of. But like, she, she's like, how, how wealthy are we talking here?

[Jason Tardick]

I mean, it depends. Like, net worth will also include what the value of the company.

[David]

Yeah.

[Jason Tardick]

Is. But if we just take like. Yeah. What's her debt worth? I. I mean, I, I guess it's.

[David]

In the, it's in the tens.

[Jason Tardick]

No more than that.

[David]

Okay.

[Jason Tardick]

Yeah. I'm thinking like, like probably 30 to 75.

[David]

Okay.

[Jason Tardick]

I think assuming she's getting like. Right. So, you know, the valuations of when she exited and then those were big pops. And then she's probably, you know, you're making se. There's no way she's making less than seven figures currently with her salaries and stuff. So I got to think north of like 25. For sure. North of 25. Like below 100. But, um, obviously it's a big range. But yeah, I mean, I think she's worth a lot.

[David]

Crushing it. She Big fish. She's a big fish.

[Jason Tardick]

Big fish. Big fish. Big fish. One thing that's also crushing it, David, is our reviews last week, shout out to Stacy Michelle. She said, I love the rv. Content's interesting. I love John's music. I think Dave is right about the Sahil episode. I was skeptical of a lot of things he was saying too, but I'm going to continue to try them. So David comes through Big D. We had a. In. In polar opposite of that. We had a lot of big Sahil fans.

[David]

Yes.

[Jason Tardick]

Pierce, JP Tish sent the review nr99809 center review. So all real, all five stars. All great. So, guys, if you give us a review, we'll give you shout outs here. And we also have giveaways, so continue to. To do that, please. What else? David? Got anything else before we wrap?

[David]

No, I just wanna. This next coming week, you said you're in Nashville again. You get the MRI tomorrow.

[Jason Tardick]

What.

[David]

What's gonna be. What are we looking forward to in the week ahead?

[Rebecca Minkoff]

What.

[David]

Can I ask you next Sunday and for you to be like, I want to ask you about something that you're looking forward to.

[Jason Tardick]

What.

[David]

What is that thing?

[Jason Tardick]

So April 3rd to April 7th. Okay, let me go to New York. We got the Nick Jonas show. Okay. So the, the last five years, which is opening. And I think we have a couple investors actually from Trading Secrets now. It's a very, very high. Any, any type of investment in Broadway, entertainment or Creative is high risk.

[David]

Okay.

[Jason Tardick]

But we'll see what happens. Very excited for that. My parents are going to be there. The premiere will be great. Just going to be a great time in New York. But I'm also looking at places. I think I'm going to make a decision. David, you're going to, you're going to, like, hate it. You're also going to love it. It has to do with where I'm going to live and a real estate play I'm going to make. And I've been going back and forth on all this for like a year and a half. I'm pretty sure I have a decision made and I'm pretty sure I'm going to make moves in the next month.

[David]

Okay.

[Jason Tardick]

So.

[David]

So next week. Week. Next week I'm gonna follow up on this and you're gonna give me something a little more concrete. Yeah, I'm intrigued.

[Jason Tardick]

And you know what? You've been asking about my dating life. I didn't have last week. I didn't have any dates, so.

[David]

Well, that's because you're. Yeah, well, you've been in Nashville for a week, so that, you know, so.

[Jason Tardick]

Well, I haven't been able to walk either, so.

[David]

Yeah.

[Jason Tardick]

So maybe this, maybe this week I'll go on a date.

[David]

Okay. I would love to hear about that.

[Jason Tardick]

Yeah, maybe I will. We'll see.

[David]

Okay. Okay.

[Jason Tardick]

I love it. What is.

[David]

No, I, I'll ask that next week. I'll ask you next week.

[Jason Tardick]

Okay. Lot of teasing going on. You ask me whatever you want. Next week we got Rebecca Minkoff this week, and next week we have Kelly Flanagan coming on the podcast. So we'll have. We will have a Great recap for that one. I'm sure the curious Canadian will have a question or two. We look forward to that. David. Anything before we wrap?

[David]

No, no. Great segue. Can't wait for next week.

[Jason Tardick]

Thank you for tuning in to another episode of Trading Secrets, one you couldn't afford to freaking miss living that dream.

[Rebecca Minkoff]

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[Jason Tardick]

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[Rebecca Minkoff]

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[Jason Tardick]

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[Rebecca Minkoff]

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[Jason Tardick]

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[David]

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[Rebecca Minkoff]

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