A NEW FORMAT. BOOM! In part 1 of #132: Matt Taylor created something special when he created Tracksmith. Based on heritage and collegiate styles, Tracksmith has redefined outdoor apparel in a space that is dominated by household names and global retailers. In the second half: LVMH bids on Tiffany and Sucharita Kodali of Forrester gives us the low-down on 180-year-old brand.

Show notes

Main Takeaways:

• Brian and Phillip are joined in today's episode by Matt Taylor, the Co-Founder and CEO of Tracksmith and they are recording today's episode at the Trackhouse in Boston.

• Tracksmith is geared towards dedicated runners and has fostered a dedicated fan base based on those values.

• With customer acquisition costs on the rise, where should your brand focus its efforts to make the most out of your hard-earned dollars?

• Capturing the passion you have for your brand helps identify your ideal customers, and is invaluable when it comes to developing your brand's identity.

Heritage: An Accurate Description of Tracksmith of a Brand:

• Matt recalls the first time the brand was in the Trackhouse back in 2015 when Tracksmith used the building as their first pop-up location.

• As a runner for his entire life, Matt has been involved in running since middle school, which makes running a big part of his life.

• After college, Matt got more and more interested in running, and before starting Tracksmith, he was the Head of Marketing for the Running and Training categories at Puma.

• He built an iPhone game with Usain Bolt before the 2012 Olympics that gave him a bridge to take a year to work and develop Tracksmith.

A Powerful Combination: Fusing Interest and Passion:

• Tracksmith is described by Matt as a combination of personal interest and passion, but also a representation of his years of experience in the industry.

• There is a lot of talk about timing within the market when it comes to starting a business, but very few people talk about the importance of timing in a founder's personal life.

• There is always a risk when starting your business venture and everyone's situation is different.

• What personal factors contribute to an ideal environment if you were to leave a corporate job and start your own venture?

That Tracksmith Feel: Diversifying Against a Giant:

• Hailed as an Anti-Nike, Tracksmith has developed a unique feel and has a special way they have decided to tell their story.

• You can't manufacture authenticity, it has to come from a sincere place and for Tracksmith, that authenticity comes from a genuine passion for running.

• As other running brands have grown, they have left behind a void in the market that is comprised of the core, committed running consumer.

• Tracksmith has made it a mission to serve the dedicated running audience, and it is something they constantly check in with to make sure they stay on message.

The Pressure to Grow: Navigating a Harsh Environment:

• There is a lot of pressure to grow in the current environment, especially if you are venture-backed.

• Brian asks Matt if he thinks that it's inevitable for Tracksmith to broaden its horizons given the constant push for growth.

• Matt doesn't think that will happen any tim