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Published · transcript-backed

Speaker unverified: commitment

16 May 2022 Acquired Arena Show Part II: Brooks Running (with CEO Jim Weber)

“We just kept at it by design because I just decided I want to play the long game and build a brand, build value, so that's why I'm still there.”

— Speaker unverified

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Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
commitment
Recorded
16 May 2022
Publisher
Acquired

Transcript context

…You were on the board the whole time? I was on the board. I had a look inside and it was a crisis. You guys have experienced this, the weekly board calls on Fridays, the bank is not going to fund, they want more capital. It was exciting, as they say. After a couple of months, we did a lot of work, I saw an opportunity, and I jumped in. I love running businesses, I love solving puzzles. I started telling Brooks, I really wanted to play the long game. I wanted to build a brand. The TAM—I love your industry—market and running is the biggest category in all sporting goods. It's the biggest category and athletic footwear. It always has been. It's about a $30 billion category globally, apparel and footwear. All we had to do was get it and we could survive. We just kept at it by design because I just decided I want to play the long game and build a brand, build value, so that's why I'm still there. I'm a weird duck, but I've had four owners and I played through each one and kept that opportunity out there for the next owner. At that moment, though, Ben mentioned you did a little of this, a little bit of that, like a deadline in Wayne's World about I've got a collection of hair nets and name tags. You were making football cleats? What was Brooks at that point in time?…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.

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