Ken Pilot interviews Scott Tannen, Founder and CEO of Boll & Branch on this flight of The Retail Pilot Podcast.

Scott Tannen is the CEO and Founder of Boll & Branch, the world’s leading luxury bedding brand, which he founded in 2014 with his wife Missy Tannen. 

Boll & Branch was one of the earliest direct-to-consumer brands in the soft home world of bed and bath products, and is the first ever 100% organic Fair Trade Certified™ bedding company. Every product, from their sheets to their down pillows, is made sustainably, with a transparent supply chain, and today Boll & Branch is one of the largest e-commerce-first luxury home brands, loved by millions of Americans, including every living US president, and countless celebrities. 

Scott started his career at Nabisco / Kraft Foods, and was pivotal in the strategic development and modernization of communication efforts for brands including Altoids, Oreo, Planters, Milk-Bone, Life Savers and dozens of others. During his time with the conglomerate, he also oversaw Digital communications and marketing for Kraft Foods entire portfolio of Nabisco Cookies & Crackers, Confections and Snacks brands. He later went on to join Wrigley, establishing the digital division for their global portfolio of brands, including Orbit, 5 Gum, Juicy Fruit, Life Savers, and others. Prior to Co-Founding Boll & Branch, Scott was the Founder & President of Candystand.com, which he launched in 2008 and sold to Publisher’s Clearing House in 2010.

Scott’s work has been recognized by the advertising and creative industry with awards including Gold and Bronze Clios, Effies and Cannes Lions. He sits on the advisory boards of several technology and consumer goods companies, and is a Vanderbilt University alum. Scott resides in New Jersey with his wife Missy, their three children, and two dogs.

Summary

Boll & Branch is a leading luxury linens and bedding company that focuses on transparency, traceability, and sustainability in its supply chain. The founders, Scott and Missy Tannen, started the company 10 years ago with no background in textiles, which gave them a unique advantage in reimagining how the industry operates. They have built a strong brand that values quality, authenticity, and customer trust. Boll & Branch started with a focus on sheets and bedding but has expanded into other categories like pillows and bath products. They aim to create a complete solution for the bedroom and bathroom. The company has been self-funded and profitable since its early years, allowing them to maintain control and focus on long-term sustainability. They recently raised capital to clean up their cap table and have a strong partnership with Elk Hatton, who invested $100 million in 2019. Boll & Branch has achieved a net revenue of around $200 million and continues to grow. They prioritize customer retention and emotional connection by providing traceability and transparency through their OriginTrack feature. The company is primarily direct-to-consumer but also has retail stores and partnerships with retailers like Nordstrom. Bowen Branch has dedicated spaces in Nordstrom and Bloomingdale's, with specific merchandising and fixturing. Wholesale is a small part of the business, with the majority of sales coming from direct-to-consumer channels. The decision to sell on Amazon is a defensive play to capture customers who search for brands on the platform. Bowen Branch aims to maintain a strong online presence while expanding its retail stores. The company offers bespoke services, such as custom manufacturing and interior design consultations. Marketing efforts focus on word-of-mouth, TV, influencers, social media, and print catalog. Bowen Branch positions itself at a higher price point, offering superior products and targeting customers who value a better experience. The pandemic had a consistent and solid impact on sales, while post-pandemic growth has been strong. Technology is leveraged to improve the customer experience, with a focus on usability and AI chatbots. Scott Tannen, the founder of Bowen Branch, is described as consistent, fair, and transparent as a leader.

Takeaways

·     Boll & Branch is a leading luxury linens and bedding company that focuses on transparency, traceability, and sustainability in its supply chain.

·     The founders, Scott and Missy Tannen, started the company 10 years ago with no background in textiles, which gave them a unique advantage in reimagining how the industry operates.

·     Boll & Branch has been self-funded and profitable since its early years, allowing them to maintain control and focus on long-term sustainability.

·     They recently raised capital to clean up their cap table and have a strong partnership with L Catterton, who invested $100 million in 2019.

·     Boll & Branch has achieved a net revenue of around $200 million and continues to grow.

·     They prioritize customer retention and emotional connection by providing traceability and transparency through their OriginTrack feature.

·     The company is primarily direct-to-consumer but also has retail stores and partnerships with retailers like Nordstrom. Boll & Branch has dedicated spaces in Nordstrom and Bloomingdale's, with specific merchandising and fixturing.

·     Wholesale is a small part of the business, with the majority of sales coming from direct-to-consumer channels.

·     Selling on Amazon is a defensive play to capture customers who search for brands on the platform.

·     Boll & Branch aims to maintain a strong online presence while expanding its retail stores.

·     The company offers bespoke services, such as custom manufacturing and interior design consultations.

·     Marketing efforts focus on word-of-mouth, TV, influencers, social media, and print catalog.

·     Boll & Branch positions itself at a higher price point, offering superior products and targeting customers who value a better experience.

·     The pandemic had a consistent and solid impact on sales, while post-pandemic growth has been strong.

·     Technology is leveraged to improve the customer experience, with a focus on usability and AI chatbots.

·     Scott Tannen, the founder of Boll & Branch, is described as consistent, fair, and transparent as a leader.

Chapters

00:00

Leading the Luxury Linens Industry

01:16

From Consumer Frustration to Trusted Brand

09:25

A Long-Term Approach to Business

11:24

Expanding Beyond Sheets

25:34

Balancing Direct-to-Consumer and Retail Distribution

27:02

Bowen Branch's Retail Partnerships and Wholesale Strategy

28:23

The Importance of Direct-to-Consumer Channels

29:03

The Defensive Play of Selling on Amazon

35:50

The Impact of the Met Gala Dress

39:21

Positioning at a Higher Price Point

41:32

Marketing Strategies for Bowen Branch

45:42

Leveraging Technology for a Better Customer Experience

48:20

Scott Tannen's Leadership Style