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'I'm obsessed with building companies': Why Uri Minkoff is focused on growing a brand he and his father launched in the '90s

Modern Retail Podcast · with Uri Minkoff · August 31, 2023 · 36 min

Summary

Uri Minkoff, co-founder of Rebecca Minkoff, is now focused on scaling BodyHealth, a nutrition and supplement brand he started with his father in the '90s. The episode details BodyHealth's pivot from a medical retail focus to a direct-to-consumer model, emphasizing repackaging for consumers and expanding into 1,000 retail stores. This is a masterclass in brand revitalization and strategic market expansion.

Key takeaways

Themes

dtc strategyretail & omnichannelbrand & contentfounder & leadership

Topics covered

brand revitalizationdirect-to-consumer pivotmedical retail to consumer marketproduct repackagingretail expansion strategyauthentic brand storytelling

Episode description

Uri Minkoff knows a thing or two about getting a brand off the ground. Beginning in 2005, he and his sister built the luxury brand Rebecca Minkoff, ultimately selling a majority stake two years ago. During those early years, he also launched his own technology company, Fortis Software, that he led for about a decade until he went back to focusing on his joint venture with his sister. And, it turns out, Minkoff and his father co-founded a business in the late '90s that Minkoff is only now beginning to really focus on. BodyHealth is a nutrition and supplement company that's been around since 1997. It sprung out of Minkoff's father's physician clinic, which Minkoff also helped get off the ground. The clinic is called LifeWorks -- "And we built what has now become the largest or second largest integrated medical clinic in the country," Minkoff said. Through LifeWorks, Minkoff and his father saw demand for supplements and medications aimed specifically at top-tier athletes. "One of the things that we found early on is, clinically, what the doctors found was that protein was a big issue -- and, particularly, protein digestibility [and] absorbability." That is, many people were trying to take a protein supplement, but their bodies weren't actually absorbing it. Over the years, BodyWorks launched more products but focused more on the medical retail track. Over 20 years, its distribution ballooned to over 2,000 physician offices, even with Minkoff not actively leading it or focusing on its growth. But now he's set his sites on growing BodyHealth even more -- focused specifically on direct-to-consumer. Minkoff had the realization a few years ago that "there's no reason that we shouldn't tell the story and expand this," he said on the Modern Retail Podcast. "Let's do repackaging that's appropriate for consumers, that's not just going to be on physician shelves." So far, it's working. BodyHealth will be in 1,000 store shelves by the end of the year. In August, it debuted on Ere

Frequently asked about this episode

What does this episode say about dtc strategy?
BodyHealth pivoted from its original medical retail distribution (2,000 physician offices) to a DTC model, expanding into 1,000 consumer retail locations by year-end, demonstrating a successful market repositioning strategy.
What does this episode say about retail & omnichannel?
Minkoff emphasizes repackaging and re-storytelling BodyHealth products for a broader consumer audience, moving beyond medical professional-focused presentation to appeal to everyday consumers.
What does this episode say about brand & content?
The brand leverages its authentic, clinically-driven origin story from Minkoff's father's medical clinic to build consumer trust and differentiate itself in the crowded supplement market.
What does this episode say about founder & leadership?
BodyHealth identified a niche in protein digestibility and absorbability through clinical observations, informing product development that addresses a specific consumer need.
What does this episode say about dtc strategy?
The episode highlights the strategic importance of choosing key retail partners like Erewhon for physical retail expansion beyond e-commerce, illustrating a multi-channel growth approach.

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