· David Senra, Ronnie Fieg
[00:00:00] S0: So you then combine the two into the very first Kith store, which is, again, 800 square feet. [00:00:00] S1: Right. But then I also, because of the relationships I built opening these accounts at David Z and also buying from these accounts at David Z, I was able to build amazing relationships where I was then working on product with all these brands for Kith. So, we had top-tier distribution from these brands, but then we also had collaborative product that I was working with these brands on. So, we had very limited product, and that was keeping people coming to the door for very special product, but they were also coming to the door to see the special product that these brands were releasing. So, there were major release dates for all these brands for different product, and we were one of the... I'm sure you've heard of Virgil. [00:00:00] S0: Yeah.
· David Senra, Ronnie Fieg
[00:00:00] S0: Yeah. [00:00:00] S1: And Virgil and Nike worked on incredible product. Kith was one of the main retailers to carry that product in the States. And then Yeezy product with Adidas, for example. There are a lot of other products that sit within that tier where Kith would become the main destination for people to come and buy those products. And we built a community around that. And then from that point where apparel started to sell at the rate that it was, the growth that we had for our brand, for our house brand, for our fashion brand, for Kith, was surpassing any demand that we had for anything else. So, as we started to open up more doors, we then had that offering for different communities in different cities. And as we saw the success of the different stores, we understood that our reach was global. And today, for example, when we have a release of product, like we just released a big project with BMW. That was about a month ago, I would say. [00:00:00] S0: Is that what I just saw outside? [00:00:00] S1: That's from the last project. [00:00:00] S0: Okay. But when you sell can other people buy that, or is that something you do custom for yourself? [00:00:00] S1: No, we had 47 of those made. [00:00:00] S0: Okay. [00:00:00] S1: And 47 stood for the years between the M1 and the XM, because those are the only two one-off M cars that BMW ever created. [00:00:00] S0: Okay.
· David Senra, Ronnie Fieg
[00:00:00] S0: Okay. [00:00:00] S1: So, for example, you can get an X5, and the X5 will... There'll be an X5M, but there's a regular X5. For the XM, it was only a M version of that car. For the M1, there was only an M version of that car. So, 47 years between them, and we made 47 of those. [00:00:00] S0: And you have one of the 47? That's what I just saw? [00:00:00] S1: Correct, yeah. [00:00:00] S0: Okay. Got it. [00:00:00] S1: I have two of the 47 because it came in purple and black, and I have one- [00:00:00] S0: Of course you had to have both. [00:00:00] S1: Of course I do. So, when we worked with BMW, I'm bringing this up because globally in Seoul, Tokyo, France, London, New York, Miami, LA, Dallas, Chicago, there'll be lines outside of every door that we have, globally. Now, I know that there are very few companies that do that, that have the demand in different cities and release something, and on release date, you have lines outside the space. I know that there are other brands that do that, but I don't ever take that for granted. So, we know that we have global reach, and at this point, with the power that the brand has and the ambition that I have to grow outside of just product- That's where Kith Ivy is born. [00:00:00] S0: Explain what Kith Ivy is.
· David Senra, Ronnie Fieg
[00:00:00] S0: Explain what Kith Ivy is. [00:00:00] S1: Kith Ivy is a membership club for avid padel players, but also for people who want access to a spa, a very elevated spa. And there's a private dining room with a viewing experience, and there's a gym, and there's a shop. It's 16,000 square feet in the top floor of a building in Tribeca, and then there's three courts that people can play padel on upstairs. And then we also have an Erewhon juice bar, the first Erewhon juice bar in New York in that space. [00:00:00] S0: That went viral when it came out. [00:00:00] S1: Yeah, for sure. [00:00:00] S0: This is before me and you may even met. [00:00:00] S1: Yeah. [00:00:00] S0: And I was just like, "I saw that everywhere."
· David Senra, Ronnie Fieg
[00:00:00] S0: And I was just like, "I saw that everywhere." [00:00:00] S1: Yeah, it was pretty insane. And that has become a really special place, especially for me. And when thinking about the space, I really built it first for me, like I do with anything else. Whether it's a product or a space, I'm doing it for myself first because I know that my eye for the brand and the lens has been a consistent lens for 15 years. That expanded what the brand can do through a hospitality lens. I love that portion of the business now. And that idea then started to trickle into what I'm doing now with Ronnie's. So Ronnie's is a fine dining restaurant in London, and Ronnie's Pronto is a gourmet sandwich shop with a window and a patio in West Hollywood. And now I have plans on what I'm going to do to bring that to New York, which I'm working on now, which will end up happening the end of this month. As I have a book here that speaks to 1,800 designs, because I spend a lot of time on footwear. Footwear has always been the anchor, but now serves as a much smaller piece of the business because the Kith product has surpassed anything that we've done categorically in the brand. But as we get into hospitality and I see the opportunity of growth outside of product, that's what I think the future of the brand will look like. There'll be multiple categories that sit outside of product.
· Ronnie Fieg, David Senra
[00:00:00] S1: Yeah, it was pretty insane. And that has become a really special place, especially for me. And when thinking about the space, I really built it first for me, like I do with anything else. Whether it's a product or a space, I'm doing it for myself first because I know that my eye for the brand and the lens has been a consistent lens for 15 years. That expanded what the brand can do through a hospitality lens. I love that portion of the business now. And that idea then started to trickle into what I'm doing now with Ronnie's. So Ronnie's is a fine dining restaurant in London, and Ronnie's Pronto is a gourmet sandwich shop with a window and a patio in West Hollywood. And now I have plans on what I'm going to do to bring that to New York, which I'm working on now, which will end up happening the end of this month. As I have a book here that speaks to 1,800 designs, because I spend a lot of time on footwear. Footwear has always been the anchor, but now serves as a much smaller piece of the business because the Kith product has surpassed anything that we've done categorically in the brand. But as we get into hospitality and I see the opportunity of growth outside of product, that's what I think the future of the brand will look like. There'll be multiple categories that sit outside of product. [00:00:00] S0: What's the better business? I know you're not doing this for money. Obviously, you're very successful, but to me, wouldn't product be a better... It's a better financially performing business than hospitality? Am I wrong on that?