Connor Brooke
This week, Tilman Fertitta meets with CEO Miriam Zelinsky and PR/Marketing Director Amanda of Lazyjack Press.
Lazyjack Press offers quirky ties that are perfect for any occasion. According to the episode description, however, their “cheeky” designs may be turning away potential customers. Since starting the business in 2012, they have released more of a variety of fashion choices, including bow ties, pocket squares, wool scarves, totes, dog collars and more. “Whether you’re addressing the board, hanging at happy hour, carousing on campus or even tailgating before the big game, you can count on Lazyjack Press to be the finishing touch to your perfect look,” according to their website. Some of the bowtie design names include “Flip Cup,” “The Wasp” and “Kegs and Eggs.”
Fertitta is immediately disappointed with their logo, which features a pair of sunglasses that they believe is “preppy.” They have grown steadily over the past four years, doing more than $130,000 in revenue last year. Fertitta is impressed by their growth but worries the ties will not appeal to everyone. He challenges them to test ties with both millennials and older customers to see how each age group reacts to the designs.
Fertitta hopes that 80 percent of people choose Lazyjack ties over the competition. Only three out of the six millennials vote for Lazyjack, and ultimately, only 50 percent overall choose Lazyjack. The challenge did prove, however, that millennials aren’t the only people interested in the ties. Next, he challenges them to update their logo and market their brand more. After previewing 40 designs, Zelinsky says she doesn’t like any of the logo designs and would not switch out the company’s current logo for any of the new and improved designs.
In the boardroom, they debut the company’s new logo, which features a “simple yet elegant” icon and lettering. They also present Fertitta with their editorial plan. They propose a 1,240-tie purchase order at $29.30 per tie, totaling more than $36,000 total. Impressed with their branding and reach, Fertitta counters with a $50,000 purchase order.
Social Media Reacts to Lazyjack Press’s Appearance on “Billion Dollar Buyer”
The meaning behind @lazyjackpress has a nautical touch, though w/logo there may be an identity crisis. #BillionDollarBuyer @BillionDollarTV
— Jeff Syptak (@JeffSyptak) January 11, 2017
What?? Sunglasses?? Ummm NO! @BillionDollarTV @TilmanJFertitta #BillionDollarBuyer
— AwesomismMom ❤️❤️ (@AwesomismMom) January 11, 2017
Eek! I hate the logo. It has nothing to do with ties. #BillionDollarBuyer
— Tretta Bush (@TrettaBush) January 11, 2017
There is no time wasted when you are following your passion! #LazyJackPress #determination #perserverance #BillionDollarBuyer #BeProud
— Tammy Motola ❤️ (@tmotola) January 11, 2017
We're lovin' these @lazyjackpress ties! We hope @TilmanJFertitta can make a deal! #billiondollarbuyer pic.twitter.com/jEPzUFO9jo
— Golden Nugget Biloxi (@GoldenNuggetBX) January 11, 2017
Business in the front, party in the back! Sounds like a great motto! @BillionDollarTV @TilmanJFertitta #BillionDollarBuyer
— Chloe R Fernandez (@ImChloeR) January 11, 2017
I want to sell to everyone.-@TilmanJFertitta
Chairman wants @lazyjackpress to meet needs of all. @BillionDollarTV #BillionDollarBuyer
— Jeff Syptak (@JeffSyptak) January 11, 2017
I'm a classic girl. I don't do too many 'fun' patterns. This should be interesting. #BillionDollarBuyer
— Tretta Bush (@TrettaBush) January 11, 2017
They did 40 mockups. Goodness. Graphic designers aren't appreciated enough. #BillionDollarBuyer
— Tretta Bush (@TrettaBush) January 11, 2017
@TilmanJFertitta Being able 2inspire those who are following their passion&share your own experiences = #motivation! #BillionDollarBuyer
— Tammy Motola ❤️ (@tmotola) January 11, 2017
According to CNBC, the reality television show “introduces promising companies across the country to one of America’s most successful businessmen: billionaire hospitality mogul Tilman Fertitta, Chairman, CEO, and sole shareholder of Landry’s, Inc.” Featured entrepreneurs present their small business to Fertitta in the hopes that he will place a large purchase order. But before they make their pitch, they must prove to the hospitality mogul that their product is worth it through challenges and customer feedback.
What are your thoughts on Lazyjack Press? Did you like Fertitta’s offer? Sound off in the comments section below!
This article was written for Business 2 Community by Connor Brooke.
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