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DSTLD ♠️
For those of you who know me, my go-to outfit is a white tee, dark jeans and a jacket of some sort. Almost every combo has at least one piece from DSTLD. They make quality outerwear, jeans and basics that aren’t as expensive as other designer brands.
DSTLD was founded in 2014 by Corey Epstein (a UCLA MBA) and Mark Lynn. They both struggled to find luxury basics that weren’t absurdly expensive - especially in muted tones like grey, white and black - so they set out to make their own.
DSTLD also went about raising capital differently: After a $4.4 million seed round, they crowdsourced a $7.6 million series A from consumers who want to invest in the business. It’s a pretty cool concept.
Haus Drinks 🍸
I’ve always fantasized about starting my own beverage company - some of the most heralded and aesthetically pleasing brands are drinks (Coca Cola, Grey Goose, etc.). But it feels like everything has been thought of already, right?
Wrong. At least I’ve never had a “California inspired apéritif ”, which is what Haus Drinks has launched this past summer. So what is it exactly?
It comes in two different flavors (bitter clove and citrus flower) and clocks in at 10% ABV. They recommend serving it neat or mixing with one part sparkling water (I’m thinking champagne 😏) for a delicious pre-dinner drink.
Sounds good enough for me to order a bottle - stay tuned for my tasting notes.
Mejuri 💍
Now that Christmas is around the corner and holiday shopping is in full swing, my Instagram feed is loaded with direct-to-consumer jewelry brands. Which one do you choose? I recommend Mejuri.
Mejuri is a Canadien company founded in Toronto by Noura Sakkijha in 2015. Noura wanted to create a jewelry brand that was run by women, for women. Their pieces are understated and timeless - something that says “look, I bought this for myself!”
I’ve always said the best gifts are the ones you buy yourself. But for some reason, my girlfriend has never complained when I buy her something from Mejuri 🤷♂️.
News I’m Following 👀
🔪 Sequoia Capital is betting big on Dolls Kill. As in $40 million big, and in true Sequoia fashion - they’re the only VC in the round. So why the bullish outlook?
Sequoia thinks Dolls Kill could be a “generation-defining brand”, catering to festival-goers and Gen Z misfits. They have a cult following with over 3 million followers on Instagram and a store in LA that stayed open for over 24 hours on Black Friday to appease customers. It also looks like a Vegas club.
What do I think? It’s one of the largest funding rounds an apparel company has seen this year, so I’m expecting big things from them. I’m am a bit curious about their adoption rates; I may not be a Gen Zer, but I’m not seeing a ton of these bad boys (or this) being worn by my younger friends.
🏈 Superbowl ad slots are sold out already. And as always, they ain’t cheap - the top 30-second slot went for $5.6 million. Fox Networks sold a total of 77 ad slots at an average of $4.8 million.
What’s interesting, however, is that this is the first time in the last 5 years that all ad slots have sold out this far in advance - even with declining viewership numbers. So what’s going on? I blame a strong economy, bulging marketing budgets, and increased social media engagement due to ads. All of these factors make Super Bowl ads juicier than ever.
🛒 Shopify crushed Black Friday & Cyber Monday. Shopify merchants made over $900 million in sales, and peak sales per minute reached $1.5 million. Sheesh.
Some more eye-popping stats: Over 9.3 million consumers made a purchase from Shopify merchants, and 69% of sales were made on mobile. Wallstreet is pleased.
Brand Study: Jägermeister 🦌
I remember my first time trying Jägermeister - a friend had acquired a bottle in college and we eagerly poured shots before heading to a party at the “lacrosse house”. The herbal anise flavor didn’t taste particularly good, but it was better than the other booze we were drinking at the time. I would bet most of your stories about your first time trying Jäger sound pretty similar. So how did a German digestif who’s name means “master of the hunt” become a staple of college partying?
Jägermeister was created by Curt Mast in 1937 after taking over his father’s wine and vinegar company. He named the drink after the prestigious title of “Hunt Master” in the German civil service. Jäger remained a backwater after-dinner drink reserved mostly for old german herren until Sydney Frank discovered it in 1975.
Sydney Frank was a rising star at Schenley Distilleries (his father-in-law’s business) when he had a falling out with his wife’s family (she had also unfortunately died). He took his remaining savings and founded his own liquor importing business called SFIC. Early on times were tough - Sydney would trawl through local NY bars asking day-drinkers what they were drinking. One day he met a group of German immigrants drinking Jäger, and discovered it had a small but stable following in the US. Desperate for something new to breathe life into his company, he secured exclusive rights to the digestif and hatched a plan to market it to college kids.
He began by traveling to prominent college towns around the US and pitching it to local water holes. He would serve it to bartenders (and anyone in the bars) ice-cold, and praise its potency. He convinced several bars to take small orders, but for several years it didn’t catch on.
Then in 1985 LSU’s newspaper, The Advocate, wrote an article about Jäger on how students were obsessed with the drink, calling it “liquid valium” and theorizing it was an aphrodisiac. LSU students drank Jäger precisely because it tasted horrific and was high proof - it had become a party trick just as Sydney wanted.
Sensing the opportunity in front of him, Sydney quickly assembled a marketing team of hot chicks he dubbed “Jägerettes” and had them distribute the article to bars all over New Orleans. He also put up 5 billboards in the area with the slogan “So Smooth” ironically showing a Jäger drinker wincing.
Consumption in the US exploded. Jäger shots became synonymous with wild college debauchery, and SFIC had its first blockbuster product. Sydney’s bet had paid off.
Let’s take a moment to analyze what works for Jäger.
Naming: The name is unpronounceable for non-german speakers who are unfamiliar with it. This only adds to its exoticness.
Positioning: Jäger is priced reasonably - younger buyers can easily afford it over other cheap liquours.
Performance: At 35% ABV it’s not any stronger than a household name vodka, but its belligerent flavor and freezing temperature give drinkers a very different experience.
Aesthetic: Jäger is irreverence distilled into a bottle - people buy it because it’s counter-culture and is a symbol of unbridled partying.
Jäger continues to thrive today. In 2018 the brand sold over 7.9 million nine-liter cases which amount to an estimated $500 million in yearly revenue. It remains a privately held company by the Mast family in Germany - who maintained a healthy relationship with Sydney until his death in 2006.
P.S. There’s an awesome Planet Money podcast on liquor branding if you want to hear more about Jägermeister’s story.
Jobs 💼
Mejuri - Growth Product Manager (Toronto)
Goldman Sachs - Product Manager (NYC)
Airbnb - Product Manager (SF)
Allbirds - Product Strategy Associate (SF)
Internships 🎓
Nike - MBA Product Strategy Intern (Boston)
Facebook - MBA Marketing Partnerships Intern (SF)
Nvidia - MBA Product Manager Intern (SF)
SoFi - MBA Product Intern (SF)
Shareables 😏
✈️ 9 airport secrets learned after working at LAX. Meet you at the private terminal?
📸 Winners of Red Bull’s 2019 action photo contest. Shred the gnar.
✍️ Mathematicians are hoarding special chalk. Check out the “Rolls Royce” of chalk.
🎵 The most-listened-to songs of 2019 on Spotify. Where my Post Malone fans at?
💻 Google’s most searched GIFs of 2019. Not enough SpongeBob IMO.
🤑 Apparently there are 618k millennial millionaires in the US? See where they live.
🤔 Need a stupid gift to give someone in your life? Look no further.
📦 A well-written article about delivering for Amazon. Weirdly fascinating.
🎞️ Just what we needed: a WeWork movie. It was only a matter of time.
🎁 Finally! How to wrap a gift: An interactive guide from The NY Times.
Hey! I’m Sean, a first-year MBA at the University of Michigan. Know of a new brand I should feature? Hollar at me! I’d also love your feedback - feel free to shoot me a note at seansky@umich.edu.
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