Some DTC brands are trading equity for manufacturing expertise
When Michelle Cordeiro Grant launched her lingerie brand Lively in 2016 after having worked at Victoria’s Secret, she knew she could spend years going to every factory in Asia trying to find the right partner that could produce what she wanted and how she wanted it, and still not end up negotiating a good deal. But a solution presented itself when she met Yossi Nasser, the CEO of a 70-year-old lingerie manufacturer Gelmart International, which became both her main manufacturer and her first investor.