Bow Ties and Bold Moves with Greg Shugar of Beau Ties of Vermont | re:COGs Podcast Episode #41

Tying the Knot: Beau Ties of Vermont‘s Greg Shugar on Acquisition and Adaptation with Style

In this riveting episode of the re:COGs Podcast, host Mike Gelb sits down with Greg Shugar, the owner of Beau Ties of Vermont, to unravel the intricacies of navigating business shifts and e-commerce acquisitions in the ever-evolving world of fashion. Greg’s journey is a testament to the power of adaptability and strategic thinking in the face of adversity.

From Ties to Masks: Beau Ties’s Pandemic Pivot

Greg shares the captivating story of how Beau Ties of Vermont, a 30-year-old company he acquired just before the pandemic, transformed from a traditional men’s accessory brand into one of the largest mask producers in the country. This agile pivot not only helped the company weather the storm but also expanded its customer base to include women for the first time.

Engaging a New Audience: Creative Strategies for Customer Retention

As the world emerges from the pandemic, Greg and his team at Beau Ties are focusing on converting their newfound female customers into loyal patrons of their women’s accessories line. By introducing new designs weekly, they’ve managed to increase open rates, click-through rates, and overall customer engagement.

The Art of Acquisition: Navigating E-Commerce 

Greg’s entrepreneurial spirit shines as he discusses his approach to acquiring e-commerce companies. He emphasizes the importance of finding businesses with a solid financial foundation and growth potential, while also considering the alignment of his own skill set with the company’s areas for improvement.

Crafting a Resilient Brand: Lessons from Beau Ties of Vermont

Throughout the conversation, Greg imparts valuable insights on building a resilient brand in the digital age. From fostering strong relationships with manufacturers to prioritizing profitability over top-line revenue, his experiences serve as a masterclass for aspiring entrepreneurs and established business owners alike.

The Joy of the Journey: Redefining Success in Entrepreneurship

In a refreshing take on entrepreneurial success, Greg stresses the importance of enjoying the journey rather than fixating on an exit strategy. He encourages listeners to focus on building a strong, profitable company while finding fulfillment in the day-to-day operations of running a business.

This episode is a must-listen for anyone seeking to navigate the complex world of e-commerce, fashion, and strategic acquisitions. Greg’s story serves as an inspiration, showcasing the power of adaptability, creativity, and a customer-centric approach to building a thriving brand.

Tune in to discover the secrets of success in the ever-evolving online world of fashion and accessories. 

Listen In:

Listen as Mike and Greg Discuss:

  • Beau Ties of Vermont’s pivot to mask production during COVID-19, gaining new female customers in the process.
  • Strategies to convert the new female mask customers to Beau Ties of Vermont’s women’s accessories line.
  • Releasing new bow tie designs every week to increase customer engagement.
  • Cost-cutting measures to avoid raising prices despite inflation.
  • The balance between retail and direct-to-consumer (DTC) sales for Beau Ties of Vermont.
  • Trends in men’s fashion, shift towards casual wear but resurgence of formal events post-COVID.
  • Strategic patience in staying in the market as competitors withdraw.
  • Considerations when acquiring a business, looking for solid financial foundations.
  • Evaluating potential acquisitions based on their failed growth attempts.
  • Inventory challenges post-COVID, dealing with overbuying issues.
  • Importance of strong relationships with manufacturers and supply chain management.
  • Competition from manufacturers selling directly on platforms like Amazon.
  • Factors influencing valuations and acquisition strategies for DTC companies.
  • Balancing growth objectives with maintaining a stable, profitable business.
  • The dilemma of prioritizing cash or cost of goods sold (COGS) in business decisions.

Listen to the Entire re:COGs Series:

Tune in to re:COGs, the podcast series that examines the essential aspects of inventory management, supply chain optimization, and operational excellence, all through a COGs-focused lens.

Hear business operators and thought leaders from growing consumer brands share their thoughts on product manufacturing.  Through inspiring stories and critical conversations with top experts across CPG, food, fashion, and other industries, listeners are treated to valuable insights and actionable advice that can be applied to any growing business as it scales up operations.

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