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Listen "Figuring Out How to Turn $100 into a $130 Million w/ Pura Vida Co-Founder Paul Goodman"
Episode Synopsis
Welcome to Episode #11. My guest today is a friend, world class Entrepreneur and an even better person, Mr. Paul Goodman. As the CFO and Co-Founder of Pura Vida Bracelets, Paul is charged with ensuring the growth and financial success of the multimillion-dollar jewelry and lifestyle brand.
www.puravidabracelets.com
Immediately after graduating from SDSU, Paul and his best friend, Griffin Thall, teamed up with two Costa Rican artisans to launch the brand. Within a decade, the startup has become one of the biggest jewelry companies around, with millions of fans all across the globe.
Paul is not only dedicated to building a strong brand culture both internally and externally, but he's also passionate about making an impact on the lives of other people. He helps provide full-time jobs to more than 550 artisans around the world, and the brand’s Charity Collection has raised more than $4M for charitable causes and organizations.
His financial acumen allowed the brand to achieve 57% year-over-year growth in 2019, while maintaining consistent levels of profitability. Paul was also instrumental in securing a $130M investment from iconic lifestyle brand Vera Bradley.
Paul is a member of global leadership organization YPO and has been featured on Forbes’ “30 Under 30” list. Pura Vida is one of Inc.’s 5,000 Fastest-Growing Companies in America, and was named LA Business Journal’s Direct to Consumer Brand of the Year in 2019.
In his spare time, Paul enjoys surfing, traveling the world and raising his daughter, Romy.
Enjoy!
Time Stamps:
5:18 The origin story of how Pura Vida was born
7:15 Jorge, Joaquin and the first 400 bracelets
11:14 The jar approach to inventory management
13:38 Influencer marketing before "influencers" was a thing
15:50 The Campus Rep program helps expand across the US
17:50 Their elaborate initial pricing strategy
22:20 The trade show intro that changed the game for their business
26:30 the loyalty to Jorge and Joaquin
30:35 the infamous coin flip for CEO
32:25 Establishing the Pura Vida culture and hiring throughout the years (micro to 32:32)
33:33 the transition to adding retail stores
37:20 $130 Million exit to Vera Bradley
37:49 From doubters to haters to the praise - having fun along the way
43:15 parental advice from PG!
Follow Paul-
LI: https://www.linkedin.com/in/paul-goodman-1721a115/
Insta: https://www.instagram.com/paulgoodman/
Bryan -
Insta: https://www.instagram.com/bduzco/
www.puravidabracelets.com
Immediately after graduating from SDSU, Paul and his best friend, Griffin Thall, teamed up with two Costa Rican artisans to launch the brand. Within a decade, the startup has become one of the biggest jewelry companies around, with millions of fans all across the globe.
Paul is not only dedicated to building a strong brand culture both internally and externally, but he's also passionate about making an impact on the lives of other people. He helps provide full-time jobs to more than 550 artisans around the world, and the brand’s Charity Collection has raised more than $4M for charitable causes and organizations.
His financial acumen allowed the brand to achieve 57% year-over-year growth in 2019, while maintaining consistent levels of profitability. Paul was also instrumental in securing a $130M investment from iconic lifestyle brand Vera Bradley.
Paul is a member of global leadership organization YPO and has been featured on Forbes’ “30 Under 30” list. Pura Vida is one of Inc.’s 5,000 Fastest-Growing Companies in America, and was named LA Business Journal’s Direct to Consumer Brand of the Year in 2019.
In his spare time, Paul enjoys surfing, traveling the world and raising his daughter, Romy.
Enjoy!
Time Stamps:
5:18 The origin story of how Pura Vida was born
7:15 Jorge, Joaquin and the first 400 bracelets
11:14 The jar approach to inventory management
13:38 Influencer marketing before "influencers" was a thing
15:50 The Campus Rep program helps expand across the US
17:50 Their elaborate initial pricing strategy
22:20 The trade show intro that changed the game for their business
26:30 the loyalty to Jorge and Joaquin
30:35 the infamous coin flip for CEO
32:25 Establishing the Pura Vida culture and hiring throughout the years (micro to 32:32)
33:33 the transition to adding retail stores
37:20 $130 Million exit to Vera Bradley
37:49 From doubters to haters to the praise - having fun along the way
43:15 parental advice from PG!
Follow Paul-
LI: https://www.linkedin.com/in/paul-goodman-1721a115/
Insta: https://www.instagram.com/paulgoodman/
Bryan -
Insta: https://www.instagram.com/bduzco/
In God we trust