How did direct to consumer startup MeUndies (domain: meundies.com) sell over 10 million pairs of underwear? Founder Jonathan Shokrian talks to CNBC about shock advertising, social media and MeUndies' road to success.
Jonathan Shokrian started MeUndies after a negative experience buying underwear at a department store. He raised $400,000, mostly from friends and family, and launched the millennial-friendly direct to consumer underwear start-up in 2011.
"Ecommerce is not just Amazon. It’s every online retailer out there, including the tiniest mom-and-pop operations. It’s manufacturers selling directly to consumers. In fact, it’s manufacturers in India or China selling directly to US consumers as third party-vendors on platforms such as Amazon, Alibaba, eBay, and others. The entire world is trying to sell directly to US consumers, bypassing classic middlemen, wholesalers, distribution channels, importers, and of course, brick-and-mortar retailers."--Wolfstreet.comAccording to Shokrian, MeUndies has sold over 10 million pairs of underwear and has been profitable in each of the past three years. The company will end 2019 with at least $75 million in annual revenue. How did MeUndies start a successful direct to consumer brand? MeUndies was off to a slow start until it turned to social media and harnessed the power of provocation. CNBC video above published June 7, 2019.
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