Crains New York - June 25, 2012 - (Page 46)

WALT ‘CLYDE’ FRAZIER by Daniel Massey Continued from Page 45 Stern, chief executive of the U.S. Fund for UNICEF, which has received nearly $350,000 since 2010 in proceeds from Feed products. “We have a number of corporate partners, but Lauren is the only one whose entire company has a charitable purpose.” In the five years since Feed’s inception, the company has doled out nearly $6.5 million to a number of hunger programs, resulting in roughly 60 million meals for undernourished kids. COMPANIES ON A MISSION FEED IS ONE of a handful of Road to profitability Ms. Bush Lauren, who started Feed with her own savings and counts just seven employees, moved the operation out of her apartment only two years ago. She got the idea during a trip to Guatemala in 2003, when she was the student ambassador for the U.N. World Food Program. Initially, she wanted to create a bag for the U.N. to sell to help fund its school lunch program. When she found out the U.N. couldn’t sell products, she decided to do it herself. David Lauren introduced her to an Amazon.com executive who initially ordered 500 bags for the e-tailer. The bags kept selling out, and a year and a half later, Feed started its own ecommerce site. Now more than 200 stores carry Feed products. To date, the business has sold more than 550,000 bags and other accessories, and Feed’s online sales have doubled every year. The company, which raked in more than $3 million in revenue in 2011, earned a profit in its first year and has been in the black ever since. But the mission takes precedence. “My ultimate goal is for Feed to be a conduit in the issue of hunger, not to become a publicly traded company,” Ms. Bush Lauren said. Forming partnerships She declined to divulge what percentage of the profits are given to charity, but she said nearly all the revenue after operating expenses is funneled back into growing the business—and subsequently the number of kids who are fed. Each bag, stamped with the trademark Feed logo, has a number that represents the children being fed by the purchase. One of the company’s best-sellers is the canvas Feed 1 bag, which costs $80. Of that price, $20 is given to fund school lunches for one child for one year. The priciest bag is the Feed 1000 clutch by designer Judith Leiber, which sells for $495 and pays for 1,000 school lunches. The bags, made by artisans in a variety of countries, such as Kenya and Guatemala, provide a way for communities to help themselves as well. To grow the brand, Ms. Bush Lauren is forming partnerships with a variety of firms. Godiva launched its first promotion with Feed in April, in time for Mother’s buck ennis companies with a strong philanthropic mission, marketing experts said. Others include Warby Parker, an eyewear firm that donates a pair of glasses for every pair sold, and Toms Shoes, the company that gives a pair of shoes to a poor child for every pair purchased. Blake Mycoskie, the founder of Toms, sits on Feed’s board. But founder Lauren Bush Lauren sees a growing trend. “When I started Feed, the term ‘social entrepreneur’ was unheard of,” she said. “But I recently spoke at the social enterprise conference at Harvard, and so many people graduating from [Harvard Business School] are planning to start social ventures.” Maria Dempsey, executive vice president of marketing at Clarins USA, which has partnered with Feed, said Ms. Bush Lauren’s strategy is the future of merchandising. “We’ve heard consumers speaking about the brand and the 15 meals they helped purchase with their cosmetics bag,” Ms. Dempsey said. “Once they understand their purchase will help someone, it’s a no-brainer.” —MIRIAM KREININ SOUCCAR Knicks legend dishes it out I Day. Feed created 27 bags with fabrics from a market in Liberia, with each one sold feeding 10 children lunch for a year in the cocoa-pro- ‘The idea is to encourage everyone to adopt habits of giving through everyday purchases’ ducing regions of Africa where Godiva gets its beans. Godiva carried the bags in retail shops and online—alone or with a box of choco- lates—and sold more than 12,000 in less than a month. “This is by far the most expensive thing we’ve ever done in terms of cause-related programming,” said Jim Goldman, chief executive of Godiva Chocolatier, who signed on to work with Feed for two years. “Lauren has created a way for people to partner with her in a very visible way to advance her cause.” Clarins USA has signed on as well. Last July, Feed began creating cosmetics bags for the skincare giant,with the goal of raising enough money to provide 1 million meals in two years. So far, the venture has raised enough for more than 600,000 meals. Clarins, which is Feed’s exclusive beauty partner, also donated more than $250,000 to present the first Feed benefit concert, which took place May 30 at Lincoln Center. The concert, which featured John Legend, raised enough money to provide 1 million school meals. t’s been a run of premieres for 67-year-old Knicks TV analyst Walt “Clyde” Frazier. Earlier this year, Clyde Frazier’s Wine and Dine opened on the far West Side in partnership with Michael Weinstein’s Ark Restaurants. The expansive eatery features a basketball court and cutouts, patterned after the legendary Knick’s flamboyant suits, that dangle from the ceiling. And on June 23, Before He Was Clyde premiered on MSG, featuring recently rediscovered footage of Mr. Frazier’s first-ever game at Madison Square Garden, as a member of the Southern Illinois University Salukis in the 1967 NIT championship game.The show airs again June 30 at 9:30 p.m. Restaurants are notoriously tough businesses. Why tackle that at this point in your career? Nobody’s approached you on a fashion line? I’m talking to some people now on fashion. Also vitamins and fitness. You’re known for your rhymes. Even the restaurant name rhymes. What’s your all-time favorite? Dishing and swishing. That’s the one people like. Then posting and toasting. A lot of that started when I was on radio, because you don’t have a lot of time to articulate. I just started with, they’re ubiquitous, they’re shaking and baking. That’s all I could get out. And it also made it fun for me. How did you feel when you saw the footage from your first game at the Garden? It was Weinstein’s [idea]. I was friendly with his son Sam. Periodically, I would meet them at some of their restaurants—Bryant Park Grill, Robert—and one day he approached me with the concept of doing a restaurant. I was reluctant. I have rental properties in St. Croix. That’s where I was looking to retire.It took me three weeks to get back to Michael. I was like, man, do I really want to do this? But once I thought about it, I said you can’t always come into an opportunity like this. I can always retire. Do people come expecting to see you? WHERE THEY DINED I was astounded when they showed it to me, with the commercials, everything intact. And in color. It was a national telecast, one of the first times my family was able to see me play. What was Walt like before he became Clyde? Clyde Frazier’s Wine and Dine 485 10th Ave. (212) 842-1110 www.clyde fraziers.com WHAT THEY ATE: Crispy sweet and spicy chicken wings ($12) Asian-flavored guacamole with lotus chips ($9) AMBIENCE: Eatery takes up a full city block and serves American fare with an Asian twist. I was a good player, but the public didn’t know me. I didn’t think I was a pro player. I didn’t think I had it until I came to the NIT. And only after they named me the NIT MVP did I start reading the paper where they were saying this guy Frazier should be a No. 1 pick. That’s when it dawned on me that I would fulfill my dream of playing in the NBA. Let’s talk NBA. Should the Knicks have reached out to Phil Jackson? New ventures Despite its success, the brand is still in its infancy. That will soon change. In August, Bloomingdale’s will start carrying a line of DKNY Feed bags, including a diaper bag. And this fall, Feed will launch a division called Feed USA to help impoverished Americans. The company has formed a partnership with Feeding America, which will be a recipient of donations. Feed is currently looking for a mass retailer to sell this line. “The idea,” Ms. Bush Lauren said, “is to bring conscious consumerism to a mass audience in order to encourage everyone, not just those with big bank accounts, to adopt habits of giving through everyday purchases.” They do. That’s why I’m here at least four or five days a week. I go to every table. I take pictures. I told Michael if I do it,I’m going to be there;I’m coming all the time. I can’t just put my name there, and I can’t cheat the fans. Are you involved in the business side? They handle the business. I try to see what people like or dislike—the music, the service—and the rest of it, they have a manager to deal with. Any other business ventures? I thought perhaps they would. We still don’t know if they did or not [ Jackson has since said they didn’t]. They’ve been pretty diplomatic. I’m happy with Mike Woodson. I thought the team responded to him. I like the defensive concept he came in with. LeBron James or Kevin Durant? Mostly real estate in St. Croix. I’ve done personal appearances, commercials. LeBron because of his all-around talent. Durant—obviously there’s no question about his shooting ability, how he can take over a game.But LeBron can rebound, he can shoot, he can defend. He’s the consummate player. INSIDE TIP Get there early and shoot some hoops on the restaurant’s basketball court. Don’t worry—Clyde’s not keeping score. 46 | Crain’s New York Business | June 25, 2012 msg networks Sacking hunger globally SOURCE LUNCH: http://www.Amazon.com http://www.clydefraziers.com http://www.clydefraziers.com

Table of Contents for the Digital Edition of Crains New York - June 25, 2012

Crains New York - June 25, 2012
Contents
In the Boroughs
In the Markets
The Insider
Business People
Alair Townsend
Greg David
Real Estate Deals
Crain’s Fast 50
For the Record
Classifieds
New York, New York
Source Lunch
Out and About

Crains New York - June 25, 2012