Meats & Margins

Chomps started in 2013 with just $50K in meat stick sales and a Shopify site. The founders didn’t go full-time until 2016 and 2018—and their first hire didn’t join until that same year. It was a slow, focused build, with every step measured.

By 2020, the company had hit $45M in revenue. Three years later, it was at $250M. In 2024, it crossed $500M in sales, with products in over 180,000 retail doors across the country.

To keep pace with that growth, the team:

• Raised $80M from Stride Consumer Partners

• Locked in a $100M credit facility from Wells Fargo

• Constructed a new 300,000 sq ft manufacturing facility in Missouri.

Their strategy? Start lean, validate through DTC, amplify with influencers, then scale operations and retail with discipline.

Today, Chomps is a category leader in the $6B+ meat snacks market—built on consistency, not trend-chasing.

The Cookware Brand That Cooked Its Doubters

When Hexclad launched in 2016, early investors passed. Too crowded, they said. Too competitive. Cookware was a graveyard.

But Hexclad proved them wrong—quietly at first, then explosively.

They broke into Costco in 2018–2019 and caught the perfect tailwind when in-home cooking exploded during the pandemic. Then came the kicker: in 2020–2021, they landed an equity deal with Gordon Ramsay, giving the brand cultural edge and culinary credibility.

From there, the numbers speak for themselves:

• 2022: ~$125M revenue

• 2023: ~$300M

• 2024: ~$400M

• 2025 (projected): $500M with 20% profit margins

• Plus a $100M follow-on investment from Ramsay’s Studio business (funded by Fox)

Hexclad didn’t get here on hype. They built around premium positioning, distinct hybrid cookware technology, and a smart channel strategy. While DTC provided early momentum, real scale came from Amazon discipline, strategic retail expansion, and a firm grip on pricing and brand control.

Crumbl Went Viral—and Then Got Profitable

Crumbl might be the most memed cookie brand on the internet—but it’s also one of the most profitable franchises in the country.

Founded in 2017 in Utah by two cousins, Crumbl’s cookie boxes went viral thanks to TikTok-driven weekly flavor drops, glossy videos, and strong UGC loops. But behind the trends is a surprisingly healthy business:

• $2B valuation via minority stake from TSG Consumer Partners

• 1,100+ franchise locations

• $1B+ in systemwide sales

• ~$150M in EBITDA

• Average store: $1.15M in revenue / $125K in profit

Crumbl’s key unlock wasn’t just attention. It was translating that attention into high-performing franchising economics. High AUVs, tight operational templates, and a model built for churn-resistant Gen Z demand.

Crumbl didn’t just go viral—they turned digital attention into durable, profitable scale. It’s one of the clearest examples yet of how online-first brands can dominate offline.

Podcast Recap: Fan Bi x Connor Wilson (Thursday Boots)

Why Product Focus Wins In The Long Run

This week on In the Money, I sat down with Connor Wilson, Co-Founder and CEO of Thursday Boots, to talk about what it really takes to grow a durable consumer brand. Over the last decade, Thursday Boot has scaled from a boot startup into a trusted lifestyle brand—with owned manufacturing, omnichannel expansion, and a fanbase that buys again and again.

Key themes from the episode:

• Loyalty is earned through constant product refinement, not launches.

• Price stability comes from operational efficiency, not cutting corners.

• New categories succeed when customer trust comes first.

• Retail builds deeper brand connection when done deliberately.

• Long-term success depends on disciplined execution across every part of the business.

This is a must-listen for any CPG founder navigating margin pressure, retail expansion, or post-DTC reality. Watch on YouTube, listen on Spotify.

Takeaways:

1. Disciplined growth still works. Each brand took years to hit scale. They focused more on getting the business model right than on speed.

2. Operational edge is the new competitive advantage.
   Manufacturing control, cost efficiency, and margin discipline were key drivers across every brand.

3. Trust comes before category expansion.
   Growth into new products or formats only worked once brands had earned customer loyalty.

4. Offline still matters.
   Physical retail and distribution were unlocks—not add-ons—for deeper brand connection and broader reach.

5. Clarity compounds.
   The most successful brands know what they are, who they serve, and what they don’t do.