Jens Grede

And there was only a couple of companies behind it, and they went bust.

All of a sudden, all over the world, there was all this floor space for these lower-priced designer goods.

The growth of those businesses and this change in distribution all coincide.

In America, we had the JCPenney's and the Gap, and they were disrupted by the Europeans in the techs that own Zara and H&M.

They had a better supply chain.

They were able to get trend at the lower price to the American customer faster.

What is Xi'an?

It's an even more efficient model.

It's a supply chain and software company that is masquerading as a retailer.

They found an even more efficient way to make and supply trends at an even lower price.

Technology, disruption in supply chain, distribution, those things is what makes brands happen.

With Skims, it was a combination of a few things.

So one, I saw this very large part in retail, in underwear, in lounge products.

I saw that people were changing the way that they dressed, not just on weekends, but life was becoming two distinct wardrobes.

One that is very soft.

I'm not sure if you wear Vuori.

Of course.

It's a great brand.

And I'm sure when you come home tonight.

I'm going to change into it.