DiscussionInsightful

Advice Line with Kenneth Cole

How I Built This with Guy Raz45m 35s

Kenneth Cole, founder of the iconic fashion brand, joins Guy Raz to answer business questions from three entrepreneurs: Matt Jacobs (Pedestrian Project - foot wellness products), Emma Fakwade (Israel Akabla - minimalist fashion), and Levi Case (Swing Sculpt - golf swing sculptures). Cole emphasizes the importance of emotional connection, storytelling, and building lasting brands rather than chasing short-term trends.

Summary

In this episode of 'Advice Line with Kenneth Cole,' the legendary fashion entrepreneur returns to help three founders navigate their business challenges. Kenneth Cole opens by discussing how brands are built differently today through social media and creators, but emphasizes that lasting brands require emotional connection and a clear, unique narrative that distinguishes them from competitors. He stresses that his original goal shifted from simply selling products to creating fulfilling experiences that make customers want to return, and understanding the emotional relationship with customers is paramount.

The first caller, Matt Jacobs from Pedestrian Project, asks about balancing efforts between capturing existing foot care market share ($4 billion in the U.S.) versus investing in education to grow the category. Cole and Raz advise him to initially bias toward conversion through existing retail channels like Sprouts and Amazon, then layer in narrative and brand voice as he gains traction. They suggest destigmatizing foot care through fashion and lifestyle partnerships, and Cole mentions his own brand, Gentle Souls, as a potential collaboration opportunity.

Emma Fakwade, founder of Israel Akabla fashion brand, discusses her struggle to convert Nordstrom wholesale customers to direct-to-consumer sales despite having 85% of revenue from wholesale. Cole explains that wholesale is a distribution channel, not necessarily a marketing channel, and advises using storytelling cards and QR codes to build direct connections with customers. He warns that retailers like Nordstrom are sophisticated and won't hand off customer relationships, so any strategy must benefit both parties. Raz suggests she may need to simplify her brand messaging and consider that a brick-and-mortar store could be valuable for telling her brand story on her terms.

Levi Case presents Swing Sculpt, a service that converts golf swings into custom metal sculptures. His challenge is reducing friction for first-time buyers of a completely novel product. Cole suggests partnering with golf pros and country clubs to create experiential offerings, while Raz proposes expanding beyond golf into high school baseball and other sports, noting that parents spend freely on memorable gifts for their children. Both suggest that adding figurative elements to the abstract art and potentially licensing professional golfers' swings could scale the business significantly.

About this episode

<p>Today’s callers: Matt from New York City unpacks the stigma working against his line of foot wellness products. Then Emefa in Toronto seeks a direct relationship with customers of her fashion brand in the wake of a key retailer going out of business. Finally, Levi in Rhode Island explores new audiences and product lines for his commemorative golf sculpture business.</p><p>Plus, Kenneth and Guy discuss how to make social impact a real part of your business model.</p><p>Thank you to the founders of Pedestrian Project, ISRAELLA KOBLA, and Swing Sculpt for joining us on the show.</p><p><br /></p><p>If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to <a href="mailto:[email protected]" rel="noopener noreferrer" target="_blank">[email protected]</a> or call 1-800-433-1298.</p><p>And be sure to listen to <a href="https://podcasts.apple.com/us/podcast/how-i-built-this-with-guy-raz/id1150510297?i=1000498753112" rel="noopener noreferrer" target="_blank">Kenneth Cole’s founding story</a> as told on the show in 2020.</p><p><br /></p><p>This episode was produced by Alex Cheng with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Jimmy Keeley.</p><p>You can follow HIBT on <a href="https://x.com/HowIBuiltThis" rel="noopener noreferrer" target="_blank">X</a> &amp; <a href="https://www.instagram.com/howibuiltthis/" rel="noopener noreferrer" target="_blank">Instagram</a> and sign up for Guy's free newsletter at <a href="http://guyraz.com/" rel="noopener noreferrer" target="_blank">guyraz.com</a> and on <a href="https://guyraz.substack.com/" rel="noopener noreferrer" target="_blank">Substack</a>.</p><p>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.</p>

Key Insights

  • Cole argues that the goal of business is not simply to sell products once, but to create fulfilling experiences that make customers want to return repeatedly.
  • Cole claims that understanding the emotional relationship with customers—not telling them what they should wear—is the foundation of successful brand building.
  • Cole contends that wholesalers like Nordstrom are distribution channels rather than marketing channels, and that brands risk growing revenue without actually building brand awareness.
  • Cole states that retailers are sophisticated about customer relationships and will not hand over customers to vendors, so any acquisition strategy must benefit the retailer's interests as well.
  • Raz argues that for novel products requiring consumer education, initial focus should be on conversion through existing retail channels, with brand storytelling layered in later as traction builds.
  • Cole suggests that today's retail experiences must be immersive and different from traditional retail, allowing customers to feel the brand and continue engaging with it after leaving the physical space.
  • Raz proposes that high school sports markets represent significant untapped opportunities because parents consistently spend money on memorable gifts and experiences for their children.
  • Cole maintains that businesses should run like businesses with a heart, integrating social purpose into their business model rather than using it as a marketing tool.

Topics

Building lasting brands through emotional connectionWholesale vs. direct-to-consumer business modelsCategory creation vs. market share captureStorytelling and brand narrativeRetail partnerships and distribution strategiesProduct innovation and expansionCustomer acquisition and retention

Transcript

Before we get into the episode, thanks to our presenting sponsor, Anthropic. They make Claude an AI built for the problems that take real thinking, research, strategy, planning, and making sense of a lot of moving pieces. Give it a try for the next thing you can't quite stop turning over in your head. For problems worth solving, get started with Claude at claude.ai. Support for today's episode comes from Square, the easy way for business owners to take payments, book appointments, manage staff, and keep everything running in your business without running yourself into the ground. In my neighborhood, there's a shop that sells incredible locally made food. Fresh breads, prepared meals, sauces, jams, all from producers within an…

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