Mike Hoffman (2:33)

Yeah, I love it. I love it. So let's go back to earlier in your career, you spent the first 20 years of your career working for sort of powerhouse corporate brands like Ralph Lauren and J. Crew. This was during the Ludlow suit era. And I'm sort of curious, when did you have the moment where you thought, oh, maybe I should go and launch my own line?

Todd Snyder (2:51)

Well, I always had the dream, I think at a young age. I remember reading Ralph's book early in like the late 80s, early 90s, and thought, I would love to be a designer. I didn't know if I could ever do that. I worked in menswear store, and so I always kind of had this.

Mike Hoffman (3:07)

You grew up in Iowa, right?

Todd Snyder (3:08)

Yeah, I grew up in Iowa and I didn't know you could do it. So I started working in the industry. But the dream was always to do my own thing. I a lot of times put on the back burner just because I had so many amazing jobs. And I turned 40 and I was like, if I'm going to do this now, I better do it. And that's why I started doing it.

Mike Hoffman (3:27)

You were saying earlier that on your phone when you have do not disturb on, there are only maybe a couple of people who like break through that. One is your wife, and one is Mickey Drexler, the sort of iconic J. Crew leader. I'm curious, what did you learn from Mickey? What did you learn from Ralph Lauren when you worked there? And how have you brought that into your approach to entrepreneurship?

Todd Snyder (3:44)

Well, I was really fortunate to work for some amazing people. And as you said, Mickey, we still chat at least every other week. And his phone does cut through my do not disturb, so I have to be careful. But I learned a ton from him. I worked for Gap and J. Crew, I think about a total of 15 years. So I really understood the whole business side of things and understanding kind of what drives a business, what you invest in. And then from Ralph, just really the design and the creativity and understanding kind of the whole kind of building a brand really came from working there and understanding what the customer's looking for. And I still feel like Ralph Lauren is the best place to learn. But also you kind of see how to build the environment for the customer. And he does it like nobody else.

Mike Hoffman (4:34)

And so when you're starting your company, what white space did you see and how did you think? Like, oh, this is a customer base that's underserved, that I can go after.

Todd Snyder (4:42)

Well, I remember. So I left JJ. Crew in 0809 and I just remember going to Burgdorf's. I would shop the market And I'd go to Bergdorf's, I'd shop luxury. And I just felt that the prices were kind of ludicrous in a way of how much they were charging for a shirt. And then we had J. Crew at $75. And I felt like there was opportunity to have something that is accessible, luxury that is a lot of times we call it internally smart luxury. Something that has great qual that you're going to be wearing a lot in your closet, but it's not going to cost you an arm and a leg. And I think right now especially, I think there's a huge disconnect between what you see at luxury versus what you see in our store.

Mike Hoffman (5:28)

We hear so much about luxury and the power of luxury, although maybe that's cooled in the last year or so. But I'm curious, when you were launching the company, did people advise you bring your prices up, market, there's more revenue there. And how did you think about that?

Todd Snyder (5:42)

Well, I think for me, the space I saw was resting below luxury and above kind of contemporary, and there wasn't a lot of people in that space. There was definitely womenswear brands like that. Neely Lotan is someone who I really admire. I've actually worked with her at Ralph Lauren, and I really like her approach to her brand and really tried to emulate what I was doing in menswear similar to what she does, but from a brand positioning standpoint. And I didn't really think about, like, the price point per se, but I just knew that the value wasn't there. When I would look at other brands and see how much they were charging, I wanted to put something out there that was great quality that you would have. You know, it's not inexpensive, but it's an investment that you would make and things that you would have in your wardrobe for decades. I mean, I still have some of the things that I did 15 years ago that I still wear today. And I really look at doing design as almost wardrobe building, in a way, and thinking about what your closet looks like and making those investments. So those things kind of endure trend, and they endure time, and then things that you kind of keep going back to over and over again.

Mike Hoffman (6:54)

And do I have this right? You also had a second business, like a T shirt business?

Todd Snyder (6:57)

Yeah, I had a T shirt business called Tailgate Clothing that was mostly college T shirts. We did pros as well, and I started that in 97 with my brother. And when I left J. Crew, I left 2008 and 2009. Probably reminds you of the big recession we had. And I certainly lived through that. And I knew that, oh gosh, I'm not going to be able to go do my dream of Todd Snyder brand. So I started doing the T shirt thing on the side and then that all of a sudden took off. And that's really what fueled my ability to grow Todd Snyder.

Mike Hoffman (7:30)

So it helped fund the second business, is that right?

Todd Snyder (7:32)

Yeah, it helped fund it. It was the one part of the business that made money. But the real dream was to do the Todd Snyder brand. And I was a little scared, I would say, in the beginning, just because it was during the recession. And I remember Mickey telling me, he's like, are you crazy? Like, Lehman Brothers just went under. And I literally resigned on Friday and then Lehman's won under on Monday.

Mike Hoffman (7:56)

All those guys suddenly needed T shirts though, right?

Todd Snyder (7:59)

Yeah. The nice thing is, and I always thought this about college apparel is it's a renewable resource. You always have a new fan base coming in. And it really kind of endured any sort of financial kind of downturn or any sort of fashion trend. It really kind of was those things that, you know, as long as the team was good, you know, typically they would sell a lot of shirts. So.

Mike Hoffman (8:20)

Yeah. So what was the toughest part of launching early Todd Snyder and how did you sort of overcome those early challenges?

Todd Snyder (8:27)

I think just keeping my head down. I think one of the big things for me, I've been in the industry up to that point 20 years, and I think that's really gave me a competitive edge. I was able to not only know when to get on a trend or get off a trend, but to how not to have knee jerk reactions when it comes to business and thinking about things for the long term. And then also having people that I've worked with before that have an incredible knowledge base. I was really fortunate to work for some amazing people, whether it was the Gap or whether it was Ralph and being able to lean into them and to use their knowledge to help my business thrive was critical.

Mike Hoffman (9:10)

Was there a moment early on when you thought, like, oh, I have something here, like this is taking off in some way.

Todd Snyder (9:16)

I was really fortunate when I launched the brand. I got picked up by Bergdorf's immediately. So again, this is back when wholesale in America was better. But I got picked up by Burgdorf and Neiman's and then I got a big account with Japan and Japan quickly became our biggest revenue. And that's when I knew when the Japanese picked up on it, because the Japanese are very discerning when it comes to American brands. And I knew if I succeeded there that I would succeed anywhere because they probably have the most discerning eye when it comes to menswear.

Mike Hoffman (9:54)

Now, you mentioned that you started out in wholesale and you've done dtc, but then you moved into retail. Can you sort of talk about the evolution of Todd Snyder by channel?

Angela Lee (10:03)

Yeah.

Todd Snyder (10:03)

I mean, it was really important in the beginning, obviously, to get into the right doors because that really sets the precedent for everything else. So I was lucky enough to get into burgdorf, got into Mr. Porter, which is an online retailer, some of the best stores in America, as well as stores in Japan, stores in Europe. Having that kind of then sets up the stage for all the other distribution channels because fashion's like anything. FOMO is probably one of the biggest things, especially when it comes to wholesale. Everybody wants it when it's, oh, it's at that store, or it's at that store. But I knew immediately I was not going to be able to make money from wholesale because the volume wasn't there. But it was really critical in the beginning to get that brand awareness out and to hit minimum order quantity with factories. A lot of times I'm only making 50 units of a style, now I'm making 500 to 1000. But in the beginning, to be able to make those goods, I needed points of distribution to be able. Able to hit the scale as far as the margin. And so started off in wholesale, moved to direct consumer. And this was back in the day when bonobos was big and Warby Parker just started and this whole dtc, which acronym didn't exist back then, but DTC was kind of a new thing. I knew that's how I needed to change my business to understand that better. So I started hiring people from bonoboses of the world and understanding kind of how to sell direct consumer and build the website and all of that. And that was really looking back, probably the best decision I made was really investing in our website and kind of dtc. And then from that we were acquired by American Eagle. We were able to scale our business even faster and we were able to forego with the wholesale piece because the wholesale was actually disrupting our online business. Because then all of a sudden you're competing for search engine keywords and things like that, where if you're on your own, you come higher. When people don't know how to spell Todd Snyder, you're not then clicking onto Mr. Porter or Bloomingdale's or what have you, you're able to really command that piece of it. And the biggest part of it is I always knew that owning that end to end customer life cycle was really important for the brand because then once I could control the experience for the customer, I knew that that was going to be a better way for us to really launch and to continue to grow was to really own that full customer experience. Because if you don't, that's where brands get diluted. And I've obviously been through a lot and I've seen a lot of brands come and go, and I've seen worked for companies that you kind of see a lot of the problems. And I knew with what I was doing, I wanted to strip a lot of that noise out of the equation. And being able to sell direct to consumer was really kind of the goal.

Mike Hoffman (13:06)

What are just maybe one or two of the problems that you saw at other places that you thought this is a way I can avoid this?

Todd Snyder (13:12)

Well, I mean, the biggest thing is having creativity lead your every decision. And it doesn't mean like you're doing crazy shirts and crazy whatever, but because a lot of people have a lot of opinions when you're in a big corporation. And whether it's the head of marketing or whether it's the head of merchandising or ahead of planning, everybody has a point of view. And it's important to have great people in the organization. But it's important to have one vision. And if you have one vision, it's much easier to execute your goals versus trying to make everybody happy and making sure that you have a little bit of everything you need to have things cut through. And I would say that's the biggest thing I learned from Mickey Drexler was just, he was so good at cutting out the noise and really having a singular point of view when it came to an investment. And then everything would ladder back to that. Whether it was the marketing, whether it was the in store, whether it was the sales associates, you know, having those pieces of the business all talking back to this is an important style. And why, why buy that? That to me is the biggest equation that you want to simplify the most. A lot of brands have a tendency to try to be all of it, and that's where you lose. You really need to have one point of view when it comes to marketing and pushing your product out.

Mike Hoffman (14:32)

So you were acquired by American Eagle and Fast Forward. The business now pays for 130 million in annual revenue. I'm curious. So many acquisitions like that don't go well. And the founder doesn't stick around. What has made it work for you?

Todd Snyder (14:46)

Well, I mean, number one, I have an amazing partner and I have an amazing mentor in Jay Schottenstein. And Jay Schottenstein's the CEO of American Eagle. But I would call him more of an entrepreneur. He still remembers the days. He's always been in retail. His father started in retail, and he knows a lot about the industry that goes back decades, if not 30, 40 years. Really has a passion for this business, and so I've been able to learn from him the most. I remember during the pandemic, we had one store and we were closed, obviously. And halfway through, probably like four months in, he's like, I really think you should open up more stores. And I was like, are you crazy, or are stores closed?

Mike Hoffman (15:34)

Seems like bad timing, right?

Todd Snyder (15:36)

Yeah. And so my intuition was to hunker down. And his intuition was, okay, now you grow and you hear all these things about Warren Buffet and whatever. They all buy when the economy's crap, and then they sell when it's high. And I think that's easier said than done. But he definitely has that intuition of an entrepreneur, and I've learned a lot from him. And they've been amazing supporters. And having a mentor and having a company like this that really gets behind you is incredible. It's a dream come true. I have to often pinch myself that is actually happening.

Mike Hoffman (16:12)

So as you've expanded into retail, that's really sort of turbocharged growth for the company. It's also been an opportunity for you to really control the brand experience and have it be exactly the way you want it to be. What have you learned from that?

Todd Snyder (16:24)

Well, I learned that's everything. You know, being able to control the customer's experience and to really, you know, when you sell wholesale, one thing that's challenging in that is that you're, you know, giving your brand to somebody else, and you're kind of a slave to whatever they want to do. If they want to go on markdown, you can't really do anything about it. If they want to put you in the back of the store on a rail, you can't really do anything about it. Whereas for me, the biggest experience, and this is what I learned from Ralph Lauren, was the store experience. That, for me, was the thing that was going to differentiate us from everyone else and making sure the store experience is a place of discovery, a place of where people want to hang out. I often hear a lot that between our store staff and customers come in, they just love being there. It's almost like a club in a way where people come and they either shoot the shit or get to understand what goes well for a summer wedding. Or I'm going to my first job interview. Please help me. I think the one thing I noticed in retail is that most men like to think about clothes. They just want to get it right. And that's one of our mantras that we always talk about. They don't want to know how it's made. They just want to look good. And we're really here for that. We're really here to help the guy dress better and to make them feel at ease and comfortable with the choices they're making.

Mike Hoffman (17:50)

So, Todd, last question for this segment. I know that home goods is something you've been thinking about for Todd Snyder. What's your next move?

Todd Snyder (17:56)

Well, really kind of getting into collaborations has always been a big thing for us. So we have a collaboration coming up with an interior brand that I can't announce yet, but that I think will really deepen the brand even more. I think the one thing about the store that's done really well is people enjoy the interiors that we do. It makes people feel at home, but also makes them feel inspired. Oftentimes we get people wanting to buy the art, buying the rugs. So this actually gives us an opportunity to actually have that kind of product for sale, which I'm super excited about.

Mike Hoffman (18:29)

If my apartment could look like your store, I'd be really happy.

Todd Snyder (18:31)

So me too.

Mike Hoffman (18:33)

Yeah. All right, Todd, thanks so much. And we'll pick up this conversation shortly. And next up, it's time for the people playbook. Now, as we all know, the onboarding experience for new employees can be a make or break period, setting the tone for their employment experience. And it's critical to get it right, especially during the first 90 days. We're happy to have April Arnold, director of HR, business cards and Payments at Capital One, here to discuss how to get employees off on the right foot and get them up and running fast. Welcome, April.

April Arnold (19:03)

Thank you and thanks for having me. I'm excited to be here today.

Mike Hoffman (19:06)

So why are those first 90 days of onboarding so important?

April Arnold (19:10)

Well, that's the time when employees evaluate their decision and shape how they view the company's leadership and culture. It's also the time when they form opinions about their long term future with the company. A disorganized onboarding process can damage the relationship with a new employee right from the start.

Mike Hoffman (19:26)

And what's maybe the biggest step that a company can take to improve an employee's Onboarding experience.

April Arnold (19:31)

The most effective onboarding treats the first 90 days as an integrated system designed to build the employee's clarity, confidence and effectiveness. Each phase should intentionally reinforce the others early role clarity supports relationship building. Strong relationships help build confidence and enable meaningful early wins. Companies that design onboarding as a system have managers, peers, HR, and leadership working together. This approach allows organizations to see challenges early, adjust in real time, and ensure that new hires experience a coherent introduction to the organization rather than information overload.

Mike Hoffman (20:11)

And what responsibilities do managers have in this process?

April Arnold (20:14)

Managers are essentially translators and guides during those first 90 days, helping employees understand everything from expectations to culture. Throughout, they should be working with the employee to set clear goals for what needs to happen at the end of 30, 60, and 90 days. By the end of that first quarter of employment, employees should understand expectations, feel comfortable asking questions, and see how their work creates real value. Effective managers help employees understand not just what to do, but why it matters and how decisions actually get made.

Mike Hoffman (20:47)

And are there some other ways that the organization can support the onboarding process?

April Arnold (20:51)

Mentors and peer programs can also help in onboarding by helping the new employee create workplace relationships and feel more comfortable. Companies can facilitate such networking by assigning mentors, peers, or go to contacts for various purposes. These relationships can help new hires decode workplace norms, build trust, and feel connected to the organization. That may make them less likely to feel isolated during those early months.

Mike Hoffman (21:18)

And should the onboarding process be a little bit different? If you're talking about experienced hires versus someone who's new in their career, yes.

April Arnold (21:25)

Typically, experienced employees need less focus on task training and more on context and learning their new organization's way of doing things. These employees may be more confident in their expertise, but need help navigating company dynamics and decision making processes. Newer employees may need all of that, plus an emphasis on building trust and confidence in their abilities. They may need more basic training and coaching to get their skills up to speed.

Mike Hoffman (21:51)

And let's talk about common mistakes. What have you seen employers get wrong when it comes to the onboarding process?

April Arnold (21:56)

First, overloading new employees with forums, tools, meetings and information. This can feel overwhelming. And don't underestimate how disorienting and stressful those first months can be. The employee is trying to learn, make a good impression and ensure that they made the right choice by joining the organization.

Mike Hoffman (22:14)

Well April, this is great advice. Thanks so much for being with us today.

April Arnold (22:17)

Thank you so much for having me.

Mike Hoffman (22:20)

And now it's time for the debrief. Let's dive into the strategies you can use to scale successfully.

Sarah Lynch (22:27)

I'm Sarah lynch here with Angela Lee and we're going to unpack the biggest scaling challenges founders are facing right now and more importantly, how to actually solve them. Angela, thank you so much for being here with us today.

Angela Lee (22:40)

Thank you so much for having me.

Sarah Lynch (22:41)

What new challenges might today's founders be facing when it comes to scaling successfully?

Angela Lee (22:46)

I think there's so much pressure for founders to grow right now and to grow at such a fast scale that it's very easy to ignore early mistakes. It used to take companies decades to get to 100 million in revenue, and now companies like Zoom, like Slack, are getting there in two, three, four, five years, which is crazy. And then on top of that, things change in a dime and it's very hard, I think, for founders to know how to keep up with changes. TikTok shop is relatively new and now 60% of TikTok users have bought something through that channel.

Sarah Lynch (23:15)

For the founders in the throes of trying to scale right now, what are the first actionable steps they can take to start to scale more strategically?

Angela Lee (23:25)

Really look at all of the things on your plate and to say, if I could really focus on one or two things, what do I want to scale? Maybe it's more strategic partnerships, maybe it is getting more customers to convert to your paid product, whatever it is, and then really focus on that and then also write a do not scale list. It is so easy to be distracted and to say, I want to add this new feature or I'm going to start marketing through a different channel and to recognize that you might not be ready for that and to really try to take things one at a time.

Sarah Lynch (23:54)

So as founders map their growth strategy moving forward, what are some of the best practices they should keep in mind as they scale and think about their company's long term future?

Angela Lee (24:03)

I think long term is an interesting thing because long term means very different things depending on what industry you're in. And what I always tell founders is find a couple of founders who are two years ahead of you, five years this too far because frankly, things change too quickly. And really ask them, like, what are the things that you struggled with as you got from 50 employees to 100 employees and really understand what they did. And don't ask them the easy questions, really ask them the what broke? What do you wish you'd done differently? And to have that kind of trust circle that you can talk to is really, really important.

Sarah Lynch (24:35)

What do founders need to be thinking about when it comes to the structure of their teams? To set themselves up well to scale.

Angela Lee (24:42)

Yeah, I think a mistake that a lot of people make is they reward really great performers with promotions. And I think the classic example is someone is an amazing enterprise salesperson and so what do you do? You promote them to be sales manager. Those are very different skill sets. You need to put people where they're going to thrive. And oftentimes people get promoted not because they had the skill set of that next level, but because they were really good at the level below. And so I think that's a really big mistake that people make. The other thing is if you are going to promote people, you need to give them the toolkit to succeed. I do a lot of training of startups on really basic managerial tools like how do you delegate, how do you hold a one on one, how do you give feedback? And these are things that people are not taught. And if you are not taught them, it is impossible to manage a team effectively.

Sarah Lynch (25:24)

That's a really good insight. Is there a framework you give to founders to think about scaling differently and successfully?

Angela Lee (25:31)

A very common framework you'll hear about scaling is that you either scale through technology, through people or through process. And it I think implies that it's one or the other. And I really tell founders you have to get all three of those things right. And the problem with technology is that it amplifies problems. And if you have hired the wrong person or if you have a process that's broken, throwing technology onto that is absolutely not going to fix the thing. So the framework is not tech or people or process. It's tech enables people and process.

Sarah Lynch (25:58)

Angela, what last advice do you have for founders on thinking about their scaling process?

Angela Lee (26:04)

I think my biggest piece of advice is really just focus and trying to stay true to what you think is the number one priority. I think the customer voice in particular is hard to ignore, but the more that you can say, look, I know what's really important to build out and I'm going to really focus on that and try not to be distracted the more that you'll be successful scaling.

Sarah Lynch (26:22)

Thank you so much for this really insightful conversation today.

Angela Lee (26:24)

Thank you so much for having me

Sarah Lynch (26:26)

Back to you, Mike.

Narrator (26:30)

Starting a business comes with its share of ups and downs, which is why staying true to your vision is essential. A non negotiable for Romeo and Milka Regali Capital One business customers and co owners of Ross Plant based restaurant in New York. Romeo and Milka took a leap of faith when starting their own restaurant, gutting an empty space and building it from the ground up, every pipe, every wall, every detail. But building from scratch came with a heavy financial burden, which is when they turned to their Capital One business card. With the flexibility of the card's no preset spending limit, they were able to spend more and earn more rewards while bringing their vision to life. Today, Ross's success is proof that with passion and the right support, it's possible to make your dreams a reality. Learn more@Capital1.com BusinessCards

Mike Hoffman (27:24)

and now we're back with Todd Snyder. How you doing, Todd?

Todd Snyder (27:26)

I'm doing great.

Mike Hoffman (27:27)

Great. Well, one of the goals of this show is to connect our audience with founders like you. And so here are some of our viewers most popular questions about how to scale a business. The first comes from Timothy Amico in the chat. In a crowded menswear market, how do you cultivate a community that feels authentic rather than transactional?

Todd Snyder (27:45)

Well, I think that's the number one goal, is to feel authentic and not just to to sell clothes. I mean, there's tons of brands out there that sell clothes. Really having a vision that starts with the product, it goes to the stores, and thinking about what the end use for the customer is is really important. And having that vision and having that fortitude to stay with that original vision is critical. And that's really kind of what's defined me. I know when I started my brand 15 years ago, I wanted to build kind of the ultimate wardrobe for the guy. And having all these great essentials, that kind of was almost like a reinvention of my grandfather's closet. Modernizing it, you know, taking a trench coat and modernizing it, taking a pair of chinos and making the right fit within the right fabric. It's really about making those pieces that guys are going to go to over and over again and really sticking to that core principle.

Mike Hoffman (28:43)

Okay, great. Our next question is about collabs. And obviously, Todd Snyder has done a lot of collabs with Champion and L.L. bean and Timex and New Balance. So when you're approaching those big partners, how do you get them to take you seriously? And then also, how do you make sure that the deal is reciprocal and good for both parties?

Todd Snyder (29:00)

Well, I think the number one thing is thinking about how can you do something that's new and different without losing kind of the connection between either my brand or their brand? And L.L. bean is a great example of that. That one actually took me about three years over and over again about knocking on their door and saying, hey, how about a collab? What about this? And I'm Very persistent and I usually use my Iowa Nice to get in the door and to get the deal done. And really it's about trust and it's about working with other creatives to build something different. And then once they trust me, it becomes a lot easier.

Mike Hoffman (29:40)

So this question's from Krista in the chat. So when you're onboarding new employees, how do you relate that to the way that the brand scales and to sort of the vision that you've established for it?

Todd Snyder (29:51)

Well, I think the biggest thing is culture. Thinking about having a culture that's inclusive, that gives people a voice and giving people opportunity is really, really important. I know it sounds kind of like jargon that most businesses talk about, but it's true, like really sticking to that. I knew I worked for a lot of brands and I saw a lot of things that I particularly didn't love that I thought, you know what, if I ever open up my own brand or own business, I want to make sure that at the end of the day I'm a good person and hiring people that I want to be around and I want other people to be around. I have very little turnover here at my company and I take a lot of pride in that. Some of the people have been with me since I started 15 years ago, which is for me, it gives me a warm feeling and makes me feel like I'm doing the right thing.

Mike Hoffman (30:47)

Here's another question from the chat. Scaling and creativity sometimes feel like they're in contention. As your business is growing, especially a creative business, kind of a fashion driven business, how do you keep innovating and coming up with new ideas while also making sure that the underlying business is sound?

Todd Snyder (31:03)

Well, it's probably one of the most critical things because most people think if you're scaling, you need to optimize things and thinking about how to simplify things. And certainly that's important, but it's really almost more important to understand and value the brand and to think about who we are. What got us here. The shirt I'm wearing right now is the same shirt I designed 15 years ago and it's still one of our number one sellers. And you got to think about the core principles of why you started the brand and what your customer appreciates and takes away and really stick to that because as you scale, that's when it gets really challenging because everybody's after you like, well, you need to optimize for that. That's going to take more time. Sometimes the things that take more time are the right decisions.

Mike Hoffman (31:50)

Is there something you've said no to all the time.

Todd Snyder (31:53)

I mean, it's a constant thing. I mean, being able to say no to things that allow you to say yes to others is really important because there is a lot of things that come across your plate, whether it's a collaboration, whether it's an idea to maybe start women's, because there's such great scale in that. I've always stayed true to, like, we're a menswear brand. And, you know, I still look at Ralph Lauren. You know, you could argue that he's not menswear, but it's his biggest percentage of his sales. Hugo Boss is another one, you know, $4 billion global brand, men's predominantly, and that's what keeps them in business. And I knew that I needed to stay focused into men's to understand and really be successful in that category.

Mike Hoffman (32:35)

And here's another question from the chat from Connie. Have you shifted any marketing techniques with the new importance of AI, especially when it comes to SEO, moving more toward the consumer search versus online prompt search?

Todd Snyder (32:48)

Yeah, I mean, it's all shifting very quickly with AI, not just whether it's using tools to help optimize your business or things that you're doing in your business, but thinking about AI and ChatGPT and you name it, Gemini are quickly becoming kind of the point of reference for people. It used to be like, oh, go Google that. Now it's go AI that. And so you're going to have a lot of people going down that path quite rapidly. And obviously all those AI tools need to make money. At some point. They're going to allow us in as far as advertising and getting our name out there. So it's always important to be ahead of the curve on that kind of stuff, but not let it change your brand. The biggest thing is keeping the brand pure and really kind of to its core.

Mike Hoffman (33:36)

They say when a company passes 100 million in sales, something breaks. Maybe everything breaks. Was there something that broke at your company when you achieved that scale? And how did you fix it?

Todd Snyder (33:45)

I mean, the hardest thing for us, and I don't know if it was 100 million, but it definitely opening stores was the biggest challenge. And so many people in my industry have told me, like, beware, and I'm like, I'll figure it out. But it's really hard. It was much easier doing 100 million online versus 100 million plus stores because all of a sudden you're dealing with 150 new employees. You're dealing with different ways of rolling your, you know, Visual merchandising out to making sure that the customer service is at the level that you want it to be. So it's always a challenge.

Mike Hoffman (34:19)

What makes someone a great salesperson in store?

Todd Snyder (34:22)

Well, I kind of say I learned so much. I used to work in a men's haberdasher in Des Moines, Iowa, and every time I meet a gm, I tell them the same story. I said, you know, Bedauer's was the store. Mr. Bedauer would come in and say to us young kids, I was probably 18 at the time. And he would say, the more you try to sell, the less you will sell. And he's 100% correct. He said, get to know the person, get to know why they're there. They always come to the store for a reason, but they're not going to always tell you. Sometimes they will, sometimes they won't. But you can't just force them to buy things. So you really just need to get to know them, but also be there to service them, be there to really help them look better. Because that's, that's ultimately why they're there. They're there to look better.

Mike Hoffman (35:07)

Okay, last couple of questions. This is from Daniel. How do you think about customer experience from an omnichannel perspective? How much of the brand is the in store experience versus what happens on digital?

Todd Snyder (35:18)

Well, I think the store piece is definitely the ultimate because you really get to know a brand well. It's kind of like when you go to a restaurant. When you go to a restaurant, you can do takeout all day, but when you go to a restaurant, you sit down, you smell, you feel, you hear, you taste, it all comes together. It's the same way in store. Like, you come in and you understand what the brand's about. Everything from the art that they're using to the scent that they're burning in the candle, all of those things add up to a feeling. And we're human. So it's really important to touch the senses and to make sure that the customer is being taken care of. But Omni is really about. There's some people who love to come to stores. There's some people want the convenience of buying online. There's some people that want to pick up in store. All of those things add up, but it's really important to be there for the customer.

Mike Hoffman (36:05)

And a question from Eva. So what motivates you the most now?

Todd Snyder (36:09)

Oh, what motivates me? I think for me, I just love challenging myself. I love being able to dream and think about who our customer is. Where they're going and what he should be wearing. I'm always challenging myself. Whether I'm in the south of France or I'm in Des Moines, Iowa, or I'm in New York City. I always want to be. I want to look right. I want to make sure that I'm not too fashionable, but I'm also not too boring and stale. It's always that balance that for me. I'm always thinking about how can I simplify things more for the customer, but also inspiring myself because ultimately it will inspire the customer.

Mike Hoffman (36:49)

And here's another question. How has your leadership role changed as the company has grown much larger?

Todd Snyder (36:56)

I really try to stay close to design. I think that's the one thing that's different between me and most designers is I really try to stay close to the product and the marketing and kind of the customer experience, because for me, that's everything. And often I've worked for a number of brands where all of a sudden, the designers meeting celebrities are doing whatnot, and they're not necessarily focused in on the product. For me, it starts with product, and I love doing it. It's my favorite thing to do. It's why I get up every morning, and I probably do this job for nothing if I wasn't getting paid. I just love doing it. I used to sew shirts on my own just because I love kind of the art and kind of the craft of making garments.

Mike Hoffman (37:42)

And what do you think it will take to grow your business to the next level? 250 million, 500 million in revenue.

Todd Snyder (37:49)

I think staying true to what we started and continuing to really open markets and thinking about new frontiers, whether it's international. Right now we have 23 stores in the United States, and we don't have anything outside of the US And I've always been a firm believer that this brand can be global. My dream is to be in London someday and be in Japan, but that'll come in time. Getting this right, getting the business here right, will be able to create more in the future. But that's how I really kind of see this thing expanding.

Mike Hoffman (38:25)

Great. Well, Todd Snyder, menswear designer, entrepreneur, and maker of the navy peacoat that I've been wearing for the last 15 winters. Thanks so much for being with us today.

Todd Snyder (38:33)

You're welcome. Thanks, Mike.

Mike Hoffman (38:36)

Join us next time for more industry experts, candid conversations, and the strategies you need to make your next move. I'm Mike Hoffman at Air In Chief of Inc. We'll see you next time.