"A Larger Boat in Choppy Waters" (Pattern Acquires Onsen Towels, with Nick Ling, CEO)
Future Commerce · with Nick Ling · September 27, 2022 · 38 min
Summary
Pattern Brands has acquired Onsen Towels, a premium waffle towel brand. This episode explores Pattern's acquisition strategy, focusing on building trust with founders and identifying brands with strong product-market fit and loyal customer bases. It highlights the evolving landscape of e-commerce, where successful brands are built with long-term vision and genuine customer connection, rather than just ad spend.
Key takeaways
Founders can achieve significant liquidity events by building niche, high-quality brands that resonate with customers, as exemplified by Onsen Towels' acquisition by Pattern Brands.
Focus on building genuine customer loyalty and a superior product, as "good brands aren't built overnight" and this forms the foundation for acquisition value.
Despite the prevalence of "spend more on Facebook" strategies, successful brands are increasingly leveraging diverse tactics for growth, indicating a need for unique and sustainable customer acquisition models.
E-commerce entrepreneurs should recognize the long-term commitment required for brand building, understanding that it takes years to cultivate a loyal audience and robust product.
Acquirers like Pattern Brands prioritize brands with proven product quality and strong customer affinity, often validated by third-party endorsements like Wirecutter reviews.
Pattern Brands has just announced that they’re acquiring Onsen Towels. What was it like to see the market go from 20,000 using Shopify as a platform to now 2 million? Well, Nick Ling can tell you. What is it like to help founders become millionaires? He can tell you that, too. Phillip takes some time with Nick Ling to talk about Pattern’s Acquisition of Onsen, how they build trust with founders, and why they hold strong views loosely as they build differently.
What does this episode say about finance & fundraising?
Founders can achieve significant liquidity events by building niche, high-quality brands that resonate with customers, as exemplified by Onsen Towels' acquisition by Pattern Brands.
What does this episode say about dtc strategy?
Focus on building genuine customer loyalty and a superior product, as "good brands aren't built overnight" and this forms the foundation for acquisition value.
What does this episode say about brand & content?
Despite the prevalence of "spend more on Facebook" strategies, successful brands are increasingly leveraging diverse tactics for growth, indicating a need for unique and sustainable customer acquisition models.
What does this episode say about founder & leadership?
E-commerce entrepreneurs should recognize the long-term commitment required for brand building, understanding that it takes years to cultivate a loyal audience and robust product.
What does this episode say about finance & fundraising?
Acquirers like Pattern Brands prioritize brands with proven product quality and strong customer affinity, often validated by third-party endorsements like Wirecutter reviews.
