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Aman Advani is an innovator, entrepreneur, and the driving force behind Ministry of Supply, a brand redefining comfort in professional clothing. As the CEO and Co-Founder, he has fused engineering, technology, and fashion to create apparel that is soft, stretchy, and wrinkle-free—without the need for dry cleaning or ironing.Before launching the Ministry of Supply, Aman built his career in management consulting at Deloitte and TechnoServe, developing a sharp eye for problem-solving and operational efficiency. Armed with a BSIE from Georgia Tech and an MBA from MIT, he turned his passion for performance-driven fashion into a thriving brand that has earned recognition from Fast Company, NASA, and Guinness World Records.Today, Aman is on a mission to engineer the future of apparel. Under his leadership, Ministry of Supply has perfected the balance between comfort and performance, pushing the boundaries of wearable technology, supply chain innovation, and customer-first branding. As the retail landscape shifts, he's proving that science-driven design isn't just a trend—it's the future of fashion.In This Conversation We Discuss:[00:39] Intro[01:18] Turning DIY fixes into a scalable business[02:58] Launching a Kickstarter to validate demand[03:36] Refining the product through 14 iterations[04:19] Struggling with a supply chain built for 30K[04:56] Handling the chaos of rapid demand[05:53] Prioritizing backers over new sales[06:51] Embracing feedback to improve the product[08:01] Building a website before Shopify took over[08:59] Regretting early diversification too soon[10:12] Episode Sponsors: StoreTester and Intelligems[13:25] Defining what makes fashion timeless[15:22] Lessons from switching platforms[16:13] Optimizing analog strategies for digital growth[18:00] Why great products outlast trends[19:42] How supply chain strategy drives growth[21:12] Balancing art and science in retail[21:47] Why personalization is the next big shiftResources:Subscribe to Honest Ecommerce on YoutubePerformance Clothes for Work ministryofsupply.com/Follow Aman Advani linkedin.com/in/amanadvaniBook a demo today at intelligems.io/Done-for-you conversion rate optimization service storetester.com/If you're enjoying the show, we'd love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!
We are here at eTail Palm Springs and seeing and hearing the latest and greatest in e-commerce and retail. When brand trust is everything, how do companies ensure they aren't just talking about values but actually demonstrating them in ways that resonate with increasingly savvy and socially conscious consumers? Joining us today is Aman Advani, CEO of Ministry of Supply. Ministry of Supply is known for revolutionizing performance professional wear by blending technology, sustainability, and comfort into their apparel and today we're going to talk about how brands engage with socially conscious consumers and bridging the gap between in-store and digital experiences to create seamless, omnichannel shopping journeys. RESOURCES eTail Palm Springs: https://etailwest.wbresearch.com/ Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstrom Listen to The Agile Brand without the ads. Learn more here: https://bit.ly/3ymf7hd Don't miss a thing: get the latest episodes, sign up for our newsletter and more: https://www.theagilebrand.show Check out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.com The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://www.teksystems.com/versionnextnow The Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company
We are here at eTail Palm Springs and seeing and hearing the latest and greatest in e-commerce and retail. When brand trust is everything, how do companies ensure they aren't just talking about values but actually demonstrating them in ways that resonate with increasingly savvy and socially conscious consumers? Joining us today is Aman Advani, CEO of Ministry of Supply. Ministry of Supply is known for revolutionizing performance professional wear by blending technology, sustainability, and comfort into their apparel and today we're going to talk about how brands engage with socially conscious consumers and bridging the gap between in-store and digital experiences to create seamless, omnichannel shopping journeys. RESOURCES eTail Palm Springs: https://etailwest.wbresearch.com/ Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstrom Listen to The Agile Brand without the ads. Learn more here: https://bit.ly/3ymf7hd Don't miss a thing: get the latest episodes, sign up for our newsletter and more: https://www.theagilebrand.show Check out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.com The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://www.teksystems.com/versionnextnow The Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company
Disney has reclaimed the top box office market share this year with “Moana 2,” “Inside Out 2,” and “Deadpool and Wolverine.” CNBC's Julia Boorstin reports on the booms and the bust of the Lion King prequel “Mufasa.” Next, Aman Advani, CEO of the workleisure company Ministry of Supply, discusses the challenge that President-elect Trump's tariffs pose to retailers and the potential cost of reshoring. Plus, which tech companies won Christmas? CNBC's Steve Kovach breaks down the top tech gifts under the tree. Julia Boorstin - 13:12Aman Advani - 16:56Steve Kovach - 25:30 In this episode:Julia Boorstin, @JBoorstinAndrew Ross Sorkin, @andrewrsorkinMelissa Lee, @MelissaLeeCNBCKatie Kramer, @Kramer_Katie
Gihan Amarasiriwardena co-founded Ministry of Supply with Aman Advani at MIT in 2012 united by a shared passion for hacking clothes, making more comfortable dress shirts and socks from their favorite athletic gear. For over a decade since launching on Kickstarter, and having some of the most successful fashion campaigns in the platform's history, the Boston-based workleisure company's mission with every product has been to provide a balance of scientifically-backed comfort and convenience. MOS has become known for engineering many of the world's firsts, including their 3D computerized-knit blazer, their intelligent heated jacket with "smart thermostat" and voice control functionality, their first carbon-neutral certified dress shirt and many others. Gihan has been a Forbes 30 Under 30, set a Guinness Book of World Records mark for the fastest half-marathon in a suit and is the holder of several patents. You'll be fascinated to learn how he manages his time as a co-founder / company president / father and the life hacks he's created in this episode. More about Gihan at www.ministryofsupply.com
Aman Advani is Co-founder and CEO of Ministry of Supply, a clothing brand inventing a new category: Performance Professional, of better known as performance dress clothes. The company was founded in 2012 with the mission to incorporate fundamental engineering and performance principles into dress clothing staples, to now a business that has sold over 1 million units. In this episode, we talked about: - The benefits of having a scientific approach to starting brands, and how to do it. - Biggest challenges when starting brands before vs now.| - How to start a brand from scratch and succeed by focusing on product. For video clips and full video version of this episode: //www.youtube.com/c/EstebanJulian/videos
Brad Redding, Founder & CEO @ Elevar (Connect on LinkedIn and Twitter) and Aman Advani, Co-Founder @ CEO of Ministry of Supply, talk about building a Product IQ metric from conversion data to help drive product design, marketing, and strategic business decisions. This is a must-listen for brand owners who lead with product!-----We release new episodes every week that go deep into the world of tracking, analytics, and conversion optimization. Be sure to subscribe so you never miss an episode.-----Links:Ministry of SupplyLimited Supply Podcast-----And if you're new to Elevar, Elevar automates server-side conversion tracking for Shopify. Check us out!
I chat with Aman Advani, co-founder & CEO of Ministry of Supply. We discuss why it's important to know the industry you're disrupting, the art of balancing form and function, how they created the workliesure category nine years before it existed and why giving your personal phone number to customers is a great idea
Business suits are a necessity for some, but they aren't necessarily a comfortable or high-performance choice, and many men don't like them. Today's guest surprised himself and his family by going into men's fashion to design comfortable, science-backed clothing for these kinds of situations. Aman Advani is the CEO of Ministry of Supply, a Boston-based clothing company specializing in comfortable clothes. Listen in to hear what Aman has to say about identifying pain points, what it means to tweak a product, and how to make a splash with a launch.Topics Discussed in Today's Episode: How Aman got into the men's fashion space How Aman identified a pain point and decided to flesh out the idea Advice for looking for a partner How Aman started on proving traction Advice for making a splash with a launch Tactics or hacks that worked from a growth standard What Aman sees in the future of fashion Advice for entrepreneurs starting today Skills Aman has had to acquire or let go of as a CEO Aman's half-baked startup ideas Resources: Aman Advani Ministry of Supply Jim Huffman website Jim's Twitter GrowthHit The Growth Marketer's Playbook
In the age of Covid-19, Ministry of Supply is a work-from-homer's go-to brand for comfortable yet professional clothing. While the concept of wearing sweatpants to a work meeting may be new, the lovechild of workwear and athleisure came into fruition in 2012, at a time when “performance materials,” such as moisture-wicking fabrics, first started to explode among the athletic wear industry. “We designed an entire line of machine-washable, four-way-stretch suiting and clothing for the office and commute,” said Gihan Amarasiriwardena, Ministry of Supply president, on the latest Glossy Podcast. Amarasiriwardena co-founded the tech-focused apparel company with fellow MIT graduate Aman Advani in 2012. “What's been interesting is that, in the past year -- while people are not wearing dress shirts nearly as much as they used to, nor are they wearing suits -- this idea of the importance of comfort has been elevated. Our days are so integrated, both in terms of where we are and what we have to do. Our clothes should be designed to do that.” As the pandemic shifted the American workplace from the office to the couch, the demand for even more comfort called for a corresponding adaptation to the current “work-leisure” apparel sold by Ministry of Supply. According to Amarasiriwardena, when sitting down, one's waist expands by 5-7% -- a fact that was made undeniably apparent by the couch-to-bed pipeline facilitated by working from home. In response, Ministry of Supply found that, rather than starting from scratch, “It was about tweaking our products,” said Amarasiriwardena. “We've always been using performance, functional fabrics that are soft and stretchy, and machine washable. So it was about adjusting the silhouette.” Just as many offices closed down as a result of the pandemic, Ministry of Supply closed its six stores across the country, with plans to reopen only the Boston store. This doesn't mark the end of customer interaction, however, as the company has begun offering live chats and video chats with customers. As for the return to a normal state, Amarasiriwardena expects rebounds to happen in “waves” within the next few months as customers start returning to the office. And in addition to focusing on recovery, Ministry of Supply is focused on “being a leader in this new category of work-leisure.”
This week, host Jeremy Barnett speaks with Aman Advani, Founder / CEO of Ministry of Supply! Ministry of Supply uses innovative materials and purposeful design to solve the everyday problems that traditional clothing presents. As seen in NYT and Vogue. This discussion is ALL about DATA. If you are a data nerd or want to learn how about data driven decision making and how to use it to create more than just a product, tune in. Aman explains Ministry of Supply’s process and way of thinking when it comes to product creation. Using data driven decision making, Aman and his team are able to create true value in their products, thus ensuring they have a meaningful impact in both the world and customers' lives. Learn how Ministry of Supply collects data in its most raw and unbiased form to gain the deepest understanding of what the customer truly wants. Put on your thinking cap and grab a hold of something because this episode goes deep. It delves into the matrices of data, data patterns, and data interpretation (learning how to let the data speak to you). Raw data can actually tell you what product the world needs and this episode will teach how! Learn how having the wrong product can often trick founders into thinking they have issues with marketing and/or other departments when a better data driven product is the real answer. Tune in for more high level takeaways and some great advice to upcoming entrepreneurs at the end! For more info on Ministry of Supply please visit: https://ministryofsupply.com/ Be sure to tune in and catch all the great takeaways! If you’ve found value in this podcast please remember to Subscribe / Share / And drop us a great review! For more Rad Intelligence for Entrepreneurs Head over to: Email: show@radintelligence.com Podcast: https://radintelligence.com/rad-chats LinkedIn: https://www.linkedin.com/in/barnettjeremiah Facebook: https://www.facebook.com/radinfluencer Instagram: https://www.instagram.com/radintelligence Twitter: https://www.twitter.com/RadIntelligence Influencer Marketplace: https://radinfluencer.com Corporate Site: https://radintelligence.com/ Blog: https://radintelligence.com/blog/ You Tube Channel: https://www.youtube.com/channel/UClkdIolVp9BvjMBmb9B3fzg?
In this episode of The WTiN Podcast, we talk to the CEO and co-founder of Ministry of Supply, Aman Advani.Founded by Advani and his co-founder Gihan Amarasiriwardena in 2012, Ministry of Supply is based in Boston, US, and was born in the labs of the Massachusetts Institute of Technology (MIT). The company specialises in engineering clothes for motion, comfort, easy care, and the planet. Garments include the Apollo Dress Shirt, which is made with the same phase change materials that NASA invented to control an astronauts' body temperature in space; and the Kinetic suit, which Amarasiriwardena wore to run a ‘record-shattering' half-marathon.In this podcast, Advani talks more about the company's beginning back at MIT and he explains what makes the brand's products so unique. Elsewhere, he talks about how the company has been coping with Covid-19. Towards the start of the outbreak, the team donated lots of masks to shelters and hospitals and now it has created a 3D printed face mask, which is available to buy through the website. And finally, when asked about any advice he could give aspiring entrepreneurs, he explains that “growth and comfort rarely coexist”.
Today’s guest is Aman Advani, co-founder of Ministry of Supply. If you’ve ever worn a traditional suit, you’ve experienced the problem that Aman and his co-founder Gihan wanted to solve: they’re stiff, uncomfortable, and they let the entire world know just how much you sweat. At first, they stitched fabric from their favorite athletic brands into acceptable office wear before developing their own blends. And just to prove how versatile their suit is, co-founder Gihan ran a half marathon while wearing it and was rewarded with the most literal interpretation of proof of concept and a Guinness World Record. Listen in as we cover everything from why there’s still a ton of great opportunity in retail, why word of mouth was crucial to their company’s growth, and why the inspiration for the company name came from none other than James Bond himself.
LeadsCon Industry Insider: Lead Generation Insights for Today and Tomorrow
How are you currently measuring the impact of your marketing? And have the benchmarks you measure against changed? How are shifts in consumer behavior affecting your efforts? Tune in as Aman Advani of Ministry of Supply shares how he’s looking at today’s environment, what it means for data-driven marketers and ways that his clothier is using their resources to give back and help in an unprecedented and challenging environment.
I always wondered how it was possible that James Bond could jump out of window, fight 4 dudes, roll off a cliff, land in an Aston Martin, and then show up at a cocktail party without a single wrinkle on his lapel. Aman Advani, the founder of Ministry of Supply, a company that makes scientifically better clothing (and more), may have answered that question. Aman and his team have engineered what might actually be the world's most technologically advanced clothing, but the real innovation is in how they've built and run their business...Follow Aman and Ministry of Supply on Instagram: @ministryofsupply.www.ministryofsupply.com.If you find this podcast valuable, Rate, Review, and Share it with your friends!..Chris Falcon on Instagram: @officialchrisfalcon..www.therebelmindset.comwww.chrisfalcon.com
Aman Advani is Co-founder and CEO of Ministry of Supply, a clothing brand inventing a new category: Performance Professional OR performance dress clothes. The company was founded in 2012 with the mission to make dress clothes feel like gym clothes by incorporating fundamental engineering and performance principles into dress clothing staples, ultimately building a wardrobe... The post Aman Advani – Co-founder and CEO of Ministry of Supply and his mission to Make Dress Clothes feel like Gym Clothes appeared first on South Asian Stories.
Gihan Amarasiriwardena is the co-founder/president of Boston-based Ministry of Supply, a sleek and modern brand of performance professional apparel that launched in 2012. Gihan shares how he and his colleague, co-founder/CEO, Aman Advani, both MIT students at the time, shared a desire to create professional apparel that had the same performance benefits as their favorite athletic pieces. We learn how the brand got its start, the significance of its name and the role materials, attention to design and fit play into each and every piece to make the apparel scientifically better. www.ministryofsupply.com
Fashion + Function x Technology.That is what Ministry of Supply is about.In this week's episode of the ASB Podcast, I speak to Aman Advani. He is one of the three co-founders of Ministry of Supply, a Boston-based innovator of high-tech fashion birthed out of MIT in 2012 which introduced the concept of “performance professional".Aman shares his thoughts on how Ministry of Supply broke the record for the most money raised on a Kickstarter campaign in the fashion category in 2012, how they Nailed the customer value proposition to get them to where they are today and his thoughts on the difference between being entrepreneurial and being an entrepreneur. Listen to the end for Aman's 'Open letter to future budding entrepreneurs'!Connect with Aman Advani here: https://www.linkedin.com/in/amanadvani/A new ASB Podcast episode will be released on Spotify and iTunes every Wednesday, 8pm.
Ministry of Supply brings a scientific approach to redesigning the work wardrobe, blending high-tech performance materials, extensive research and experimentation. On this episode, CEO and Co-founder Aman Advani talks about what happens when engineering meets fashion and what the future of retail looks like. Learn more at retailgetsreal.com.
Before Aman Advani was the co-founder and CEO of performance-infused businesswear brand Ministry of Supply, he was a consultant. Spending most of his days on a plane, in a boardroom or traveling from one hotel to the next, Advani was exhausted by the upkeep his formal workwear required, including lots of ironing and frequent trips to the dry cleaners. He decided he needed to find a way to make these clothes work for his life. So in 2012, Advani co-founded Ministry of Supply with Gihan Amarasiriwardena. Since, the brand has expanded its offering to include both men and women, opened a total of six stores around the U.S., and launched wholesale partnerships with companies like Stitch Fix and MoMA. In this week's episode of The Glossy Podcast, Hilary Milnes sits down with Advani to discuss why Ministry of Supply has such a strong emphasis on education, what makes fashion an emotional industry and what's on the horizon for performance wear.
Headlines from J. Crew, Nudie Denim and Everlane and why robots are moving from warehouses to the aisles. Guest today is Aman Advani, co-founder and CEO of Ministry of Supply. The Boston-based apparel company creates sharp, classic styles in materials that synchronize with the human body. Aman, his co-founders, and the company have been heavily featured in Forbes, Inc, CNBC and Fast Company over the course of the company’s 5 year history. www.ministryofsupply.com Ministry of Supply will tailor this sweater to your body while you wait
Right now, there’s a wearable device for pretty much everything. Fitbits track your footsteps. Virtual reality headsets can transport you anywhere in the world. There’s even jewelry that lets others know when you’re in danger. But there isn’t much tech in the things we’re already wearing: clothes. We visit the Ministry of Supply, a company that’s trying to mix high-tech and apparel, and talk with the company’s founders, Gihan Amarasiriwardena and Aman Advani.
Aman Advani is the Co-Founder and CEO of Ministry of Supply; a company he launched on Kickstarter with fellow MIT classmates that sells clothing using new generation materials. Since launching in 2015, they’ve shipped several hundred thousand orders and have seven retail locations around the United States. In this episode, we talk about […] The post How 3 MIT Grads Launched Innovative New Fashion Brand with a $400K Kickstarter appeared first on Smart Business Revolution.
Aman Advani is the CEO & Co-Founder at Ministry of Supply, a fashion retailer with some very cleverly engineered products. They launched in 2012 and have now shipped 10s of 1,000s of products all over the world. We talk product, market entry, bricks and clicks, outsourcing and more. This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy
Aman, Co-Founder at Ministry of Supply, stops by to tell us about his journey in making innovative clothing.
Aman Advani, CEO & Co-Founder of Ministry of Supply studied Industrial Engineering before pursuing a career in Operational Strategy consulting and attending MIT’s Sloan School of Management. Ministry of Supply is pioneering a new way to dress for the office, with a system of unique wear-to-work clothing. In this episode, Aman shares the process of taking a new product from concept to thriving business. We talk about the challenges of building the right team and the importance of accountability in business. ----- You’ll find links to everything we discussed in this episode at
Aman Advani is Co-Founder and CEO of Ministry of Supply, a menswear company focused on creating a new category of clothing: Performance Professional – through a collaboration between experienced engineers and seasoned fashion experts. Aman comes from Atlanta, GA where he studied Industrial Engineering at Georgia Tech, before pursuing a career in Operational Strategy consulting at Deloitte, and attending MIT’s Sloan School of Management. In this interview he shares his entrepreneurs journey and talks about how he and his business partner navigate the gap between potential and results. www.ministryofsupply.com
Aman Advani Show Notes Aman Advani is co-founder and CEO of Ministry of Supply, a clothing brand inventing a new category: Performance Professional – performance dress clothes. The company was founded in 2012, with the mission to incorporate fundamental engineering and performance principles into dress clothing staples, ultimately building a wardrobe that both looks good and feels comfortable (think Nike meets Brooks Brothers). Prior to co-founding Ministry of Supply, Advani spent 4 years in management and non-profit consulting with Deloitte and TechnoServe. He holds a BSIE from Georgia Tech, and half an MBA from MIT’s Sloan School of Management, and was a member of Forbes 30 under 30 list. Most passionate about We started our company, Ministry of Supply, 5 years ago. The mission hasn’t changed since day one – making comfortable, highly engineered dress clothes that you look forward to wearing. On a deeper level, the passion for us is how it will impact and improve someone’s life; if someone doesn’t need to iron every morning, he could get an extra 15-20 minutes to play with his kids. The idea came out of necessity as consultants who had to go all over the country for four days away of home, and I couldn’t wait for the end of the day to take my clothes off and put on my comfortable gym clothes. Aman’s customers At the beginning, when we started to figure out who our customers are, we started by thinking of geographical and demographical parameters but then we found that we should really ask ourselves who this product is really hitting and who is excited about this product. And we found out that its much easier for us to design and center our company around how someone thinks and how they act. And who this product is resonating with and who we build this product for is someone who is very intentional, very thoughtful, and educated. They really thought about the product and how it might impact their life. They intended to be very interested in progress. We called them very thirsty customers someone that always looking to what’s next, how would I grow my business. Really excited about their careers. Aman’s best advice about approaching customers Our philosophy is Quantified Empathy, like when rational meets emotional and we translated this philosophy to 8 qualitative tools. The advice is that it’s a lot easier to build a business based upon market pull than technology push. If you listen to the customer and create a product around a challenge and opportunity for these customers, then it is much easier to get the product into their hands. Biggest failure with a customer Our name, Ministry of Supply, is derived from Q, the character from Bond’s films. And he makes all the gadgetry for Bond and he makes sure that Bond looks great but also that he is ready for anything that might come. And we feel like we are arming our customers for every day battles, getting on the subway, sweating, dry cleaning, ironing, etc. So they can look great but also be ready to face the daily challenges. But what Q also does, that I think we missed in the first years, is that Q involves Bond in the process, in the design studio. And early on, we felt like scientists designing in a closed glass lab for a customer we thought we understood. Only when we “left the glass lab” and went out into the real world and spent much more time face to face with potential customers, and developed this Quantified Empathy tool kit, that our products came to life and started to answer these challenges and opportunities that our customers needed. We really had to change our mindset towards the customers around the second year of the company. In 2012, we launched the startup on a KickStarter campaign that was a big success, raising $430,000 dollars in 30 days with a goal of $30000. We were so excited and happy about it, but we didn’t execute properly…and the shipment was late in two months and we...
We are joined by Aman Advani - the CEO and Co-founder of Ministry of Supply. This episode truly represents the intersection of technology and fashion - literally weaving technology into the fabric we wear. Does the name 'Ministry of Supply" sound slightly familiar? If you are a James Bond fan, it should. --- Send in a voice message: https://anchor.fm/brickdatacast/message Support this podcast: https://anchor.fm/brickdatacast/support
The Top Entrepreneurs in Money, Marketing, Business and Life
Aman Advani, a man who’s bringing technological innovation to the fashion industry. Aman’s the founder of Ministry of Supply, a company that’s employing engineers alongside fashion designers to bring performance technology into the wear-to-work clothing space. Listen in as Nathan and Aman talk minimum wage, which numbers to focus on, and just how Ministry Of Supply made 14x their Kickstarter goal. Famous 5 Favorite Book? – Good To Great What CEO do you follow? — John Carlson What is your favorite online tool? — Boomerang Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? —In building a business, all the easy things are hard and all the hard things are easy Time Stamped Show Notes: 01:30 – Nathan’s introduction 01:58 – Welcoming Aman to the show 02:08 – Ministry Of Supply generates revenue through selling products 02:40 – Company launched on Kickstarter in 2012, raising $429k - 14x their goal 03:34 – Sampler package sold for $150 03:53 – “We didn’t factor in packaging or shipping...we joke that we probably lost money” 04:24 – Shipped over 100k units 04:55 – Started with a repeat rate of 10-20% over 22 days - that’s now doubled 05:50 – Team of 20 people 06:00 – Taken $7 million in outside financing through 2 priced rounds and 1 convertible note 06:40 – Currently focused on growth: they aren’t profitable 07:05 – Hoping to be profitable later this year 07:30 – Made $500k in sales in 2012 07:35 – Nathan guesses around $4 million in topline revenue in 2015 08:40 – Aman would rather focus on numbers like margins and repeat rate than revenue 10:05 – A direct sales model; not subscription 10:44 – Around 50k customers so far 11:00 – Focusing on optimising gross margin 12:00 – “We’re infusing technology into a fairly stagnant fashion business” 13:00 – Acquisition: currently investing in podcast advertising and direct mail 13:40 – Currently have two brick-and-mortar stores that are a significant investment 14:15 – “What’s your position on $15 minimum wage?” 15:30 – We’ll automate certain tasks and re-allocate humans to higher-value tasks 16:10 – Optimising inventory turnover - “A good rate for us would be 4-5 turns a year” 16:57 – Connect with Aman on Linkedin 19:25 – Famous Five 3 Key Points: Choose to focus on numbers that mean something to you. Put people in the highest-value positions you can. Make the most of your workforce. You don’t need to be immediately profitable - but know when you’re going to be profitable Resources Mentioned: Freshbooks - The site Nathan uses to manage his invoices and accounts. Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Show Notes provided by Mallard Creatives
Aman Advani co-founded Ministry of Supply while at business school at MIT. They have created the performance professional category - business professional attire that's actually comfortable. You can see from the way they run themselves that they’re engineers solving problems in the fashion space. A Fast Company piece on them put it this way “its conception, its design process, and how it interacts with customers, Ministry of Supply arguably has more in common with the likes of Apple and Google than with J. Crew “ So that's why we wanted to Amam - to understand how they've applied that hypothesis driven testing approach to the fashion space, and how you can leverage testing to benefit your business. www.launchandlead.com/mos How have engineers created a new clothing category? "We think with our engineering hats on more than we do with our fashion opinions or ideas. It's a deeply rooted customer insight-based focus on how can we create a new category that is not just creating a slightly better pair of socks - but a truly rethought pair of socks or rethought undershirt" My questions this week? How did he wind up launching this particular business? How did he and his co-founders launch the then highest grossing kickstarter fashion campaign? How did they use their engineering background to create a new fashion category? Sign up for member-only content at www.launchandlead.com.