Moe Abdou is Joined by Phlur fragrance founder and CEO, Eric Korman to discuss the process of disrupting an industry that hasn’t seen meaningful change in decades.
Phlur: Reimagining the World of Fragrances
When we hear the term radical disruption, our instincts often leads us to technology companies who are dramatically impacting how we think, grow and live. Whether it’s Google and Facebook or Uber and Netflix, these innovators have not only simplified our lives, but they continue to challenge the very essence of what it means to build a 21st century business. To them, progress is not measured in incremental improvements, for unless there’s a 10x or even a 100x transformation, they’re hardly ever satisfied. Still, how about industries that are so ladened in tradition that they can’t even begin to imagine a shift in mindset let alone challenging the way they’ve always done things – how do they survive in this era?
Well, meet Eric Korman https://www.crunchbase.com/person/eric-korman-2#/entity – and, if you know anything about his track record, you know that he relishes the opportunity to shake things up. As a former senior executive with Ticketmaster and Ralph Lauren, Korman has built, merged and led high performance teams to enviable feats; and while those days certainly cemented his leadership legacy; his next chapter is about to test his startup chops.
During his days at Ralph Lauren, Korman grew ever more frustrated by the lack of transparency in the world of fragrances. Few before him had ever questioned the manner in which they were made, packaged, and sold; and even fewer dared to challenge the ridiculous price points that the luxury brands command. And, as you about to find out, his curiosity not only led to birth of Phlur, but to an entirely new model of distribution. Whether or not you value perfumes, you’ll appreciate a process of thinking that’s certain to stretch your imagination.
Here’s what we discuss:
- Why achievement and fulfillment are not one and the same?
- What triggers motivation?
- The process of thinking through a complex problem?
- What they don’t tell you about how they price your perfume?
- A new approach to creating awareness
- Raising capital in an industry that’s highly conservative
- The most memorable lesson he learned working alongside Ralph Lauren
Follow Phlur on Twitter: @phlurfragrance
Follow Eric Korman on Twitter: @eakorman