How I Built This with Guy Raz The art of letting go with Vincent and Andrew Kitirattragarn of Dang Foods
Nov 2, 2023
Vincent and Andrew Kitirattragarn, co-founders of Dang Foods, open up about the emotional turmoil of stepping away from their beloved snack brand inspired by their heritage. They discuss the impact of the pandemic on their business, navigating layoffs, and tough decisions that tested their resilience. The brothers share a touching story of a serendipitous encounter that offered hope for the future, as well as their aspirations to inspire other Asian entrepreneurs in the food industry. Their candid reflections on success, setbacks, and cultural legacy are truly compelling.
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Pandemic Challenges
- Dang Foods faced challenges during the pandemic, including increased freight costs and changing consumer demand.
- The Dang Bar, initially successful, saw sales decline as people stayed home.
Skyrocketing Freight Costs
- Dang Foods' freight costs dramatically increased due to supply chain issues.
- Despite raising prices, the company struggled to maintain profitability.
Fundraising Challenges
- Dang Foods explored fundraising options but struggled due to lack of growth and profitability.
- They approached numerous investors but failed to secure funding.