3 friends pooled $3,000 to sell T-shirts—they've brought in over $250 million since 2019
Publishing timestamp: 2023-08-11 10:03:41
Summary
True Classic, a men's apparel brand, initially experienced success but made a mistake by overestimating their sales and ordering more inventory than they could afford. This nearly put the company out of business, but they were able to recover by shrinking profit margins, paying vendors extra in interest payments, and taking money from a financing company. True Classic is now positioned to compete with other clothing brands and is projected to bring in $250 million in revenue in 2023. The founder, Ryan Bartlett, has learned from his mistakes and now relies on a more methodical approach to financial decisions. The company has expanded into international sales and aims to become a billion-dollar company.
Sentiment: MIXED
Keywords: nike inc,