Summary List Placement
Just before the pandemic hit the US, in February, Business Insider spoke to Jake Danehy, 26, and his sister Caroline, 23, the cofounders of Fair Harbor, a brand that turns recycled water bottles into clothing.
At the time of our first conversation, Fair Harbor’s business was booming. It was on track to recycle over 3 million water bottles by 2021 and it had launched the Round Trip Initiative, a program where the company takes any old swimsuits from its customers in exchange for a discount code for future Fair Harbor purchases.
After spending five years scaling the business and opening pop-up shops throughout the country, the Danehy siblings told Business Insider they were reporting almost 1,000% year-over-year growth.
But then, of course, the pandemic hit, and the world started to spin.
Retailers shut down and people were no longer traveling. The menswear category, Fair Harbor’s specialty, went into a steep decline, with Stackline reporting that the category saw a 64% decrease in demand in March. This meant the Fair Harbor duo were quickly forced to find a new way to market themselves to consumers. Surely this whole situation would have caused a dent somewhere in their business, right?
Hardly, Jake …read more
Source:: Businessinsider – Strategy