I retired from personal blogging in July 2008.
But you can find me over at http://blog.xero.com.
When 42 Below listed with a market cap of $50m, I thought that was a rort. How could a brand concept be worth that much.
I was wrong. 42 Below delivered.
Here’s what I learned:
- The importance of Marketing. And having the courage to do it your way. 42 Below innovated in a lot of areas including NetMarketing. Their New Zealandness was part of the brand personality. They blended that with international quality and sophistication. They didn’t waiver even when some campaigns caused controversy.
- Getting funding to implement your vision. 42 Below sold the listing which gave them the capital to execute. They did it brilliantly.
- They made business cool. This was a team doing what they loved. Kicking butt and taking numbers.
- Execution. It’s amazing how fast things can happen when you make them happen.
This deal is incredibly motivating and provides NZ exporters with ideas we can incorporate in our own businesses. It is a huge win for the marketing industry who can point to this as a stellar example. This deal builds confidence for us all.
So I take back what I’ve said previously. Well done 42 Below. Inspirational.
Here’s a couple of the great 42 Below adverts…
The gay one
History of New Zealand
blog
Also interesting that the brand was so valuable, that it didn’t matter that 42below had never made a profit…. avoids all those pesky EBIT calculations and earnouts….