Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders

When John O'Donnell founded Johnnie-O in 2005, his goal was to create a brand that combined East Coast prep with West Coast surf culture. 20 years later, you'll find their surfer logo in golf pro-shops and menswear stores across the country.Today, John joins us to share his incredible journey from being a walk-on on the UCLA golf team to founding one of America's most iconic golf brands.We get into the origins of Johnnie-O, discuss the source of their customer loyalty, and talk about their impressive growth over the last two decades.Highlights:The opportunity John saw in 2005 (2:05)John's midwest roots (4:46)UCLA Golf team (5:50)Johnnie-O's differentiation (6:45)The origins of Johnnie-O (8:17)Distribution (9:28)Inflection point for the brand (10:28)Marketing evolution (11:37)Scale of growth (13:57)Breaking into women's wear (16:30)Avenues for growth (17:35)Tariffs (18:30)Outlook for Johnnie-O (20:27)Competitive Landscape (22:15)Lessons learned (23:13) Links:Johnnie-O LinkedInJohnnie-O WebsiteICR LinkedInICR TwitterICR Website Feedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

Issuing convertible derivatives can be a great way for companies to raise capital, but issuance can be complex and daunting. Today's guest, Syed "Raj" Imteaz, has made a career out of demystifying that process.Raj is the head of ICR's Convertible and Equity Derivatives Advisory. During his career at ICR, Barclays and Lehman Brothers, he has worked on more than 200 convertible and equity derivatives transactions, totalling over $125 billion in deal value. Raj joins us to discuss the state of the convert market, the importance of receiving unbiased advice, and the incredible ROI he and his team are able to provide clients.Highlights:The importance of convertible and equity derivatives advisors (2:24)How Raj's team helps companies save money (4:16)The power of the ICR platform (7:16)The importance of unbiased advice (11:50)What's behind the booming convert market? (15:09)Why some firms shy away from converts (18:13)Factors influencing the future convert market (20:18)Links:Syed "Raj" Imteaz LinkedInICR Convertible and Equity Derivatives AdvisoryICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

Ziosk's pioneering pay-at-the-table solutions mean that customers at their partner restaurants are never stuck waiting for the bill. And now they're working to leverage their treasure trove of data to boost efficiency and improve customer experience, in ways that go far beyond payment. Rhonda Levene is the CEO of Ziosk, a leading digital hospitality platform serving major restaurant brands such as Chili's, Texas Roadhouse, and Red Robin. Since joining Ziosk in 2020 and being appointed CEO in 2024, Rhonda has spearheaded the company's transformation into a SaaS driven enterprise.Rhonda joins us to break down Ziosk's slate of products, their approach to innovation, and tech's evolving role in the future of the restaurant sector. Highlights:Rhonda's career path (2:17)Ziosk's Services (5:52)The scale of Ziosk usage (7:21)ROI for partners (8:41)Pivot to SaaS (11:10)Leveraging Data (12:39)Ziosk's approach to Innovation (14:34)Total addressable market (19:56)Lessons learned as CEO (21:44)Mentorship's role in Rhonda's career (22:42)Finance and leadership (24:46)Future outlook (25:47) Links:Rhonda's LinkedInZiosk LinkedInZiosk WebsiteICR LinkedInICR TwitterICR Website Feedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

Summary:a.k.a. Brands have seen incredible success bringing their digitally native brands into the physical marketplace. A big part of that success comes from their 'test and repeat' retail strategy, which allows them to gauge and adapt to consumer trends extremely quickly. Ciaran Long has been serving as the CEO of a.k.a brands for more than two years. He was previously CFO at Samsclub.com, and held other leadership positions at Walmart's e-commerce division, as well as at CBS, CNET Networks and KPMG.Ciaran joins us to break down the test and repeat strategy, and explains why it can be so effective at minimizing guesswork and mitigating risk. He also delves into a.k.a. Brands' unique approach to influencer marketing, their strategy when it comes to M & A, and the philosophy that will guide their expansion efforts in the years to come. Highlights:The a.k.a. Brands portfolio (2:05)What sets a.k.a apart? (3:12)a.k.a.'s evolution (4:43)Expansion strategy (5:50)Dealing with fickle consumers (8:56)Test and Repeat (10:55)Culture Kings (13:39)Navigating volatility (16:02)Sustainability in fashion (17:37)M&A (18:53)Looking ahead (21:06)Links:Ciaran's LinkedIna.k.a. Brands' LinkedIna.k.a. Brands' WebsiteICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

Summary: There are a lot of different brands fighting for market share in the "polished" segment of the restaurant industry. To stand out, you need to offer great food, at great value, in a great atmosphere. But above all, you need to make sure you have the right people at your side.And if anyone knows the value of people, it's Steve Kislow, the CEO of Firebirds wood-fired Grills. Since joining the Firebirds team in 2003, Steve has helped open dozens of locations, as the brand has grown from three restaurants in two states to 60 plus locations in 22 states.Steve joins us to talk about Firebirds' approach to innovation, their commitment to customer experience, and their plans to expand their reach even further in the coming years. He also discusses the emphasis Firebirds places on always hiring the best.Highlights:Path from chef to CEO (2:23)Firebirds' niche (4:27)How Covid Changed Things (6:44)Menu Innovation (8:17)AUVs (11:18)Price Adjustments (12:37)Growth Strategy (13:41)Changes to 'The Box' (15:48)Growing While Preserving Quality (16:58)Changes in Consumer Behavior (19:10)Approach to Technology (21:41)Evolution of the Corporate Culture (22:49)10 Year Outlook (24:09)Favorite Dishes (25:34)Links:Steve's LinkedInFirebirds LinkedInFirebirds WebsiteICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

It's been nearly a year since we sat down with Andy Goldberg, the CEO of PCH media, to discuss how the company has successfully navigated more than 40 years of shifts in the media industry. A lot has changed since we spoke, which in a way, makes this conversation all the more relevant. We hope you enjoy, and we'll be back with a fresh episode next week. Summary: Longevity in any business is something to celebrate, but when a media company can successfully evolve through several decades of seismic shifts, it's also a huge lesson in the art of pivoting. Today's guest has navigated through 41 years of change and his company has come through stronger than ever.We're sitting down with Andy Goldberg, CEO of PCH Media. Andy is leading PCH's multi-year transformation as the company continues to pivot from direct-to-consumer retail towards an identity and data-driven advertising business. This includes a concerted effort to attract and hire top media talent to align with the company's new focus. The company is aimed at creating incremental shareholder value based on PCH's unique value exchange and unparalleled ability to generate peer audience authentication, permission first-party data, and tremendous user engagement.Andy has led the company through several successful evolutions via acquisitions in the online search, casual games, and mobile advertising markets. In addition to being CEO, he's also Chairman of the Board of Directors and a past member of the Board of Directors and Executive Committee of the Direct Marketing Association.Recognized for excellence in the industry, Andy has been honored with the Silver Apple Award from the Direct Marketing Club of New York. He earned a BS in Marketing from the Wharton School at UPenn.Highlights:PCH's background and history (3:16)How Andy got involved at PCH and his path to leading transformation initiatives (4:43)User base and engagement at PCH (7:50)The value of PCH's audience and engagement data to marketers and advertisers (9:02)How PCH partners with clients to help them build their databases (13:24)The differences between zero, first, and third-party data (14:47)Andy's take on the discussion around depreciating third-party cookies (16:39)PCH's marketing collaborations with third-party players (19:12)The role of AI in the evolution of PCH (20:39)Andy's outlook on future goals and opportunities for PCH (22:31)Links:Andy Goldberg on LinkedInPublishers Clearing House on LinkedInPublishers Clearing House WebsiteICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

As a workwear and outdoor apparel company, it's imperative that you stay attentive to the needs of your customer, and remain nimble enough to adapt to the demands of an ever-shifting retail landscape. Well, the folks at Duluth Trading are doing exactly that.Today we're sitting down with Stephanie Pugliese, the CEO of Duluth Trading, which trades under the symbol DLTH. She first joined Duluth trading in November of 2008, and In 2015, she became President and CEO until 2019 when she left to become president of the Americas for Under Armour.Now, Stephanie is back as president and CEO of Duluth. She joins us to discuss the innovation, customer experience, and brand awareness that's made them a force in the American retail sector for more than 3 decades, and how she plans to double down on those things to keep Duluth profitable in the decades to come.Highlights:The Duluth Story (2:13)Stephanie's return to Duluth (5:05)Urgency vs. Thoughtfulness (6:40)Brand Engagement (7:50)Brand Awareness (9:15)Solutions Based Products (10:44)Duluth Portfolio of Products (12:36)Approach to Innovation (13:56)Direct to Factory Sourcing (15:31)Opening new stores (17:00)Finding Savings (19:19)Optimizing Inventory Levels (21:10)Promotions (22:46)Tariffs (24:20)Expanding beyond workwear (26:27)Outlook for the future (28:11) Links:Stephanie's LinkedInDuluth LinkedInDuluth WebsiteICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

As we take a brief hiatus from releasing new episodes this week, we thought it would be interesting to revisit this episode from December 2024 with Michael Saylor. Ahead of the Trump administration officially taking office, Michael explained why he thought the year ahead would be a seminal one in the history of Bitcoin. Was he correct? You be the judge. Summary: With a new, crypto-friendly administration incoming, 2025 may be the year we see Bitcoin integrate more fully into mainstream finance in America and globally. Though volatile, and with an uncertain future that will heavily depend on how macroeconomic conditions and regulatory policies play out across the year, there's reason to believe that Bitcoin could soon be more prominent than ever. Today's guest is here to tell us why.Michael Saylor is the Executive Chairman and co-founder of business intelligence company MicroStrategy (Nasdaq: MSTR), and a leading advocate of Bitcoin. MicroStrategy considers itself to be the world's first Bitcoin Company, and under Michael's leadership have adopted a unique Bitcoin acquisition strategy with approximately $42 billion in Bitcoin held to date. In this episode, Michael describes his journey from skeptic to Bitcoin maximalist, emphasizes the importance of understanding Bitcoin as a digital capital asset, and discusses its potential to disrupt traditional valuation methodologies in finance.Highlights:Michael recommends resources for Bitcoin beginners (2:37)Why fear of progress holds us back (3:55)Michael points out the clues suggesting Bitcoin is here to stay (7:11)What USD maximalists get wrong (13:15)How we can understand the potential of Bitcoin through an engineering lens (16:25)Why valuation methodologies need to adapt to include Bitcoin (18:48)How Bitcoin outperforms traditional investments (28:09)Why supportive regulatory environment is crucial for Bitcoin's growth (30:54)Michael explains why the current capital market structure favors a select few (34:59)Why sound money is critical for societal progress (39:00)Links:Michael Saylor LinkedInMicroStrategy WebsiteBook: The Bitcoin Standard by Saifedean AmmousICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

In their 125 years in existence, Alico had grown to become one of America's leading citrus producers. In January 2025, owing to adverse weather events and crop disease, they made the difficult decision to wind down their citrus operations and adopt a new real estate-focused business model.Today, we sit down with John Kiernan, president and CEO of Alico, which trades on the NASDAQ under the symbol ALCO. John has been overseeing Alico's recent efforts to transition out of the citrus industry towards a strategy that makes full use of their extensive holdings in Florida real estate, valued somewhere between 650-750 million dollars.Going from growing oranges to building communities is no easy feat. John explains how Alico is leveraging their great team, and ample liquidity, to make it work.Highlights:Alico's history (2:10)Alico's land holdings (4:09)Pivot to Real Estate (5:03)Florida Population Growth (6:04)A Diversified Land Company (8:18)Shareholder Returns (10:35)Alico's Identity (12:18)Alico's Role in Development (13:30)Corkscrew Grove (14:53)Regulatory Hurdles (17:22)Entitlements (1945)Mitigating Risk (22:18)Links:John's LinkedInAlico LinkedInAlico WebsiteICR LinkedInICR TwitterICR Website Feedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

The Trump administration has made American reindustrialization a top priority, but to do that, the US is going to need access to an abundance of metals like copper, manganese and nickel. The challenge then is to find a way to source these materials that doesn't rely on Chinese supply chains, and won't lead to serious environmental harm.Gerard Barron is the co-founder, CEO and chairman of The Metals Company, which trades on the Nasdaq under the symbol TMC. The Metals Company mission is to harvest and process metal-containing nodules from the sea floor, providing a clean and abundant source of raw materials for an array of critical industries, like steelmaking and EV production. Gerard walks us through the evolution of TMC, their groundbreaking tech, and some recent regulatory breakthroughs that have brought them closer to achieving their goals than ever before.