Thursday 18 January 2018

Billion Dollar Buyer: LoweCo. Accepts $21,000 Offer from Tilman Fertitta

LoweCo.


This week, Tilman Fertitta meets with “The Bachelor” alums Sean and Catherine Lowe of LoweCo.


LoweCo. is a luxury stationery brand that specializes in “fun messages with a crisp and elegant delivery.” According to their website, “Whether you want to remind a loved one that you care or only worry about signing your name and letting the cards speak for themselves, you (and the recipient) are in for a treat.” Cards include 3×3 and 5×5 options, which feature both sweet and punny messages for every occasion. Single cards start at $5, while packs are also available for birthdays, flirting and more.






Fertitta is very impressed with the quality of the paper goods, but thinks it may not be embossed enough. He adds, however, that there’s “a richness” to them. He tries his hand at making the cards, which doesn’t have a very positive result. Last year, they did $20,000 in revenue. Fertitta is very concerned about the cost, though. He challenges them to get their costs down and bring some new creative cards to his resorts and businesses.


Next, the Lowes visit the Landry’s team and tests the cards against other luxury stationery brands using a focus group. Some group members admit that LoweCo.’s cards are nice, but others find them a bit hard to read. Their cards, which need an 80 percent approval rating, ultimately only get 66 percent. Some group members, however, change their answer after seeing the face of the brand.




The executive team of various properties (Golden Nugget, San Luis Resort, Post Oak, Post Oak Motor Cars) review the cards next and, while they admit that they’re high quality, Fertitta doesn’t like every message that they came up with. Fertitta hopes to get their costs down for both retail and hospitality and he wants the couple to use their celebrity status to their advantage. He challenges them to incorporate that into their cards for the next challenge.


Prior to meeting with Fertitta again, the couple explores other stock options that could help get their cost down, but Catherine views them as too “droopy” and less quality compared to their cards. On deal day, the Lowes present the new displays that incorporate Catherine’s face in order to promote the brand, but he’s still worried about the cost. She presents him with the custom messages, but declares that she won’t use other papers.


Ultimately, Catherine presents him with a retail bid of 10,000 cards for an offer of $21,492, and a hospitality bid of 10,000 cards for $1.25 each. Fertitta says he can’t do a hospitality deal, but likes the retail bid and accepts it for seven of his properties.




See how social media reacted to LoweCo.’s appearance on “Billion Dollar Buyer” below:


Social Media Reacts to LoweCo.’s Appearance on “Billion Dollar Buyer”












According to CNBC, the reality television show “introduces promising companies across the country to one of America’s most successful businessmen: billionaire hospitality mogul Tilman Fertitta, Chairman, CEO, and sole shareholder of Landry’s, Inc.” Featured entrepreneurs present their small business to Fertitta in the hopes that he will place a large purchase order. But before they make their pitch, they must prove to the hospitality mogul that their product is worth it through challenges and customer feedback.


What are your thoughts on LoweCo.? Did you like Fertitta’s offer? Sound off in the comments section below!



Source: B2C
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)