1 00:00:04,160 --> 00:00:08,760 Speaker 1: Oh, I'm spilling the tea today. In this bonus episode 2 00:00:08,800 --> 00:00:09,280 Speaker 1: of Big. 3 00:00:09,119 --> 00:00:13,240 Speaker 2: Business, we are going to be chatting about my experience 4 00:00:13,480 --> 00:00:14,760 Speaker 2: with the Iconic. 5 00:00:15,400 --> 00:00:19,160 Speaker 1: Now I did we mention the Yeah, we were talking 6 00:00:19,200 --> 00:00:19,520 Speaker 1: about the. 7 00:00:19,680 --> 00:00:22,200 Speaker 2: Iconic in like one of last week's episode about the 8 00:00:22,280 --> 00:00:26,599 Speaker 2: free shipping and everything. Anyway, someone posted in our Fate 9 00:00:26,680 --> 00:00:31,520 Speaker 2: Society Facebook group something really funny. They had shopped with 10 00:00:31,640 --> 00:00:34,520 Speaker 2: us and shopped with the Iconic, and then they had 11 00:00:34,560 --> 00:00:40,040 Speaker 2: reused their Iconic bag to send their return back to Fate. 12 00:00:40,360 --> 00:00:43,280 Speaker 2: And she'd put a line through the Iconic with like 13 00:00:43,360 --> 00:00:44,920 Speaker 2: a because you know how they've got like their big 14 00:00:44,960 --> 00:00:47,479 Speaker 2: logo on their shipping bag, and then she'd put a 15 00:00:47,479 --> 00:00:50,480 Speaker 2: big permanent marker line through it, and then underneath she'd 16 00:00:50,520 --> 00:00:54,040 Speaker 2: like carefully drawn out the Fate logo to make it 17 00:00:54,080 --> 00:00:56,000 Speaker 2: look like a Fate bag. And we just thought that 18 00:00:56,040 --> 00:00:59,160 Speaker 2: was the funniest thing ever. Which, by the way, people 19 00:00:59,440 --> 00:01:03,400 Speaker 2: send rittens in other brands' bags. Like, let's say you've 20 00:01:03,400 --> 00:01:07,040 Speaker 2: shopped on the Iconic and Fate and then you want 21 00:01:07,040 --> 00:01:09,319 Speaker 2: to send back your Fate return, but you've ripped the 22 00:01:09,319 --> 00:01:13,280 Speaker 2: Fate bag apart. It's okay to put your return in 23 00:01:13,400 --> 00:01:14,520 Speaker 2: another brand's bag. 24 00:01:14,560 --> 00:01:16,000 Speaker 1: And send it back to us. I think a lot 25 00:01:16,000 --> 00:01:17,520 Speaker 1: of people get scared. 26 00:01:17,200 --> 00:01:18,520 Speaker 2: And go oh, I don't want to send it back 27 00:01:18,560 --> 00:01:21,480 Speaker 2: in a show po bag because like, no one's going 28 00:01:21,560 --> 00:01:23,280 Speaker 2: to care if you do that. You can return your 29 00:01:23,280 --> 00:01:27,160 Speaker 2: return in any business's bag and it doesn't matter. So anyway, 30 00:01:27,520 --> 00:01:30,800 Speaker 2: I posted it in our Fate Society Facebook group and 31 00:01:30,840 --> 00:01:33,040 Speaker 2: I said, whoever did this, like this made us crack 32 00:01:33,160 --> 00:01:36,480 Speaker 2: up this morning because she'd like carefully written our logos 33 00:01:36,480 --> 00:01:38,160 Speaker 2: so nicely to try and make it look like a 34 00:01:38,160 --> 00:01:42,520 Speaker 2: Fate bag. And then I don't know what someone commented, 35 00:01:43,600 --> 00:01:47,520 Speaker 2: but something about The Iconic, and then I replied saying, oh, like, 36 00:01:48,120 --> 00:01:52,240 Speaker 2: I have spoken with the Iconic twice over the years 37 00:01:52,360 --> 00:01:55,760 Speaker 2: about Fate being like stopped on the Iconic. 38 00:01:55,880 --> 00:01:57,800 Speaker 1: And I have a little bit of tea when it 39 00:01:57,840 --> 00:01:58,400 Speaker 1: comes to it. 40 00:01:59,280 --> 00:02:02,280 Speaker 2: And someone reply and said, ooh, you should make a 41 00:02:02,320 --> 00:02:03,680 Speaker 2: big business episode about this. 42 00:02:03,720 --> 00:02:05,160 Speaker 1: So that's exactly what I'm doing today. 43 00:02:05,160 --> 00:02:07,000 Speaker 2: I'm going to spill the tea on the two times 44 00:02:07,000 --> 00:02:09,799 Speaker 2: that I've interacted with people that work at the Iconic 45 00:02:09,919 --> 00:02:12,120 Speaker 2: and we were in talks about Fate being on the 46 00:02:12,320 --> 00:02:15,400 Speaker 2: Iconic and then why we didn't end up going on it. 47 00:02:15,600 --> 00:02:18,040 Speaker 2: Now I want to start this out by saying, I 48 00:02:18,080 --> 00:02:21,560 Speaker 2: am a massive customer on the Iconic, like that is 49 00:02:21,680 --> 00:02:25,440 Speaker 2: my number one store that I shop at, obviously outside 50 00:02:25,480 --> 00:02:28,720 Speaker 2: of Fate. If I ever need something, I'll always get 51 00:02:28,720 --> 00:02:32,280 Speaker 2: it on the Iconic. If I need an outfit, and 52 00:02:32,480 --> 00:02:35,760 Speaker 2: like we don't have something that I'm looking for with Fate, 53 00:02:35,840 --> 00:02:38,359 Speaker 2: I'll jump on the Iconic and buy something. I get 54 00:02:38,360 --> 00:02:40,280 Speaker 2: a lot of my beauty products on the Iconic, all 55 00:02:40,320 --> 00:02:43,120 Speaker 2: my shoes, Like I'm a massive fan of the Iconic. 56 00:02:43,160 --> 00:02:44,760 Speaker 1: I want to start out by saying that. 57 00:02:45,160 --> 00:02:50,040 Speaker 2: But I've had two interactions with people from the Iconic 58 00:02:50,080 --> 00:02:52,000 Speaker 2: over the years, and I've gone into my emails to 59 00:02:52,040 --> 00:02:55,639 Speaker 2: actually find some of these emails because obviously, the way 60 00:02:55,680 --> 00:02:58,800 Speaker 2: the Iconic works is it's a marketplace, right, Like the 61 00:02:59,040 --> 00:03:03,320 Speaker 2: Iconic have their own brands that they manufacture themselves, and 62 00:03:03,360 --> 00:03:05,560 Speaker 2: like one of the women's fashion brands that they have 63 00:03:05,680 --> 00:03:09,120 Speaker 2: on there is called Daisy. But it's a marketplace, like 64 00:03:09,200 --> 00:03:11,640 Speaker 2: you can shop all the brands that you kind of 65 00:03:11,680 --> 00:03:15,560 Speaker 2: know on the Iconic. It's just a marketplace where other 66 00:03:15,639 --> 00:03:18,840 Speaker 2: brands can be for sale on there. And that's how 67 00:03:18,880 --> 00:03:22,600 Speaker 2: they're so huge, because they just have hundreds, if not thousands, 68 00:03:22,639 --> 00:03:24,840 Speaker 2: of other brands on their app. 69 00:03:26,080 --> 00:03:29,240 Speaker 3: Do they just do their basic range or do they 70 00:03:29,280 --> 00:03:31,880 Speaker 3: have like a larger range like you would have fade. 71 00:03:32,960 --> 00:03:35,240 Speaker 2: Like, I'm not one hundred percent sure of what brands 72 00:03:35,280 --> 00:03:38,640 Speaker 2: are the Iconics actual brands. I know, like on the 73 00:03:38,640 --> 00:03:41,320 Speaker 2: women's side, the Daisy one is one of their brands, 74 00:03:41,320 --> 00:03:43,360 Speaker 2: but I'm not one hundred percent sure, like how many 75 00:03:43,400 --> 00:03:46,240 Speaker 2: other brands they actually have that are their own. Yeah. 76 00:03:46,280 --> 00:03:48,640 Speaker 3: Also, if it's the first time you tune into an episode, 77 00:03:48,680 --> 00:03:51,040 Speaker 3: I am producer X, so I'm not a random. 78 00:03:50,800 --> 00:03:52,960 Speaker 1: Man on the random men. 79 00:03:52,600 --> 00:03:55,160 Speaker 3: I forget to introduce myself and people like, who the 80 00:03:55,200 --> 00:03:56,240 Speaker 3: hell is this man? 81 00:03:57,480 --> 00:04:00,480 Speaker 2: So that's the way the Iconic works, Like when everyone 82 00:04:00,520 --> 00:04:02,200 Speaker 2: knows that you can go on there, you can shop 83 00:04:02,240 --> 00:04:07,240 Speaker 2: Tony Bianco Berllini, like they've got all brands on their platform, right, 84 00:04:07,520 --> 00:04:09,440 Speaker 2: and as a business, you can sign. 85 00:04:09,240 --> 00:04:11,200 Speaker 1: Up and be on their marketplace. 86 00:04:11,760 --> 00:04:13,840 Speaker 2: So the first time that I ever spoke with anyone 87 00:04:13,880 --> 00:04:16,880 Speaker 2: from the Iconic was in May of twenty twenty two, 88 00:04:17,400 --> 00:04:23,320 Speaker 2: so almost three years ago now. And the Iconic have buyers, right, 89 00:04:23,400 --> 00:04:25,920 Speaker 2: so the buyers reach out to the brand saying, hey, 90 00:04:26,000 --> 00:04:28,719 Speaker 2: this is us. I'm the buyer for women's wear like 91 00:04:28,800 --> 00:04:31,800 Speaker 2: they go out and find women's war brands. So they 92 00:04:32,000 --> 00:04:34,880 Speaker 2: reached out to us in two thousand and twenty two, 93 00:04:34,920 --> 00:04:38,080 Speaker 2: actually April twenty twenty two. I'm reaching out to you 94 00:04:38,080 --> 00:04:40,839 Speaker 2: about the potential of working with the iconic Australia's number 95 00:04:40,880 --> 00:04:44,200 Speaker 2: one fashion online retailer with twenty million visits per month 96 00:04:44,200 --> 00:04:45,400 Speaker 2: and organic social. 97 00:04:45,160 --> 00:04:46,719 Speaker 1: Following and blah blah blah blah blah. 98 00:04:46,880 --> 00:04:48,839 Speaker 2: The team and I love your product and brand story 99 00:04:48,880 --> 00:04:51,880 Speaker 2: and feel there is an alignment with our customers. I've 100 00:04:51,880 --> 00:04:54,360 Speaker 2: attached to deck that goes into more detail about our 101 00:04:54,400 --> 00:04:59,240 Speaker 2: business and the marketplace model, and I was so excited, 102 00:04:59,400 --> 00:05:01,920 Speaker 2: like you could me in twenty twenty two, like this 103 00:05:01,960 --> 00:05:06,320 Speaker 2: is three years ago. Fate is super small back then 104 00:05:06,440 --> 00:05:09,359 Speaker 2: compared to what we are now. At that point, I 105 00:05:09,400 --> 00:05:12,080 Speaker 2: think we went to a size twenty two or twenty four, 106 00:05:12,120 --> 00:05:16,480 Speaker 2: which was huge back then because like, not many people 107 00:05:16,480 --> 00:05:19,360 Speaker 2: were doing that. And I was just so excited when 108 00:05:19,360 --> 00:05:21,159 Speaker 2: I got this email, like I was jumping up and down. 109 00:05:21,200 --> 00:05:24,159 Speaker 2: I knew nothing about how it all worked, but I 110 00:05:24,279 --> 00:05:27,680 Speaker 2: was so excited. So I went back to them and said, 111 00:05:27,680 --> 00:05:32,120 Speaker 2: of course, like I'm I'm so interested. I would love 112 00:05:32,160 --> 00:05:35,800 Speaker 2: to know more, like I was just ecstatic. And then 113 00:05:35,839 --> 00:05:39,440 Speaker 2: they came back, which was the weirdest thing ever. And 114 00:05:39,600 --> 00:05:43,560 Speaker 2: she said, well, I think I emailed and then I 115 00:05:43,560 --> 00:05:45,960 Speaker 2: didn't hear back, and then I emailed again to like, 116 00:05:46,000 --> 00:05:49,520 Speaker 2: hey like following up. So then that was April and 117 00:05:49,560 --> 00:05:52,440 Speaker 2: now this is May. And then she said, sorry for 118 00:05:52,480 --> 00:05:56,159 Speaker 2: the late response. Our mainstream team has reviewed and decided 119 00:05:56,160 --> 00:05:58,760 Speaker 2: that Fate styles are quite similar to the assortment we 120 00:05:58,839 --> 00:06:01,800 Speaker 2: currently already have online, so we might revisit in a 121 00:06:01,880 --> 00:06:05,400 Speaker 2: year or two time instead, if that's okay. 122 00:06:06,080 --> 00:06:07,080 Speaker 1: And I was. 123 00:06:08,680 --> 00:06:13,520 Speaker 3: Sorry, yeah, that is the most bizarre I know ever they. 124 00:06:13,480 --> 00:06:15,760 Speaker 1: Reached out to us. Yeah, And so I was like, 125 00:06:15,800 --> 00:06:16,680 Speaker 1: of course. 126 00:06:16,400 --> 00:06:18,520 Speaker 3: What do you mean you've reviewed? You would have had to. 127 00:06:18,680 --> 00:06:21,359 Speaker 1: Review in the viewers first place find you. This is 128 00:06:21,400 --> 00:06:22,719 Speaker 1: in twenty twenty two. 129 00:06:23,160 --> 00:06:26,200 Speaker 2: I don't think they had any brands on there at 130 00:06:26,240 --> 00:06:29,640 Speaker 2: that point that even went to a size twenty And 131 00:06:29,720 --> 00:06:31,880 Speaker 2: so I got super upset. 132 00:06:33,080 --> 00:06:36,600 Speaker 1: Right Lisa, and I said, hi, person's name. 133 00:06:37,000 --> 00:06:39,520 Speaker 2: Ah, that's such a shame. I think a huge I 134 00:06:39,520 --> 00:06:41,360 Speaker 2: think the huge point of difference for us is our 135 00:06:41,440 --> 00:06:44,080 Speaker 2: size range. We currently go to a size twenty two 136 00:06:44,200 --> 00:06:46,520 Speaker 2: or twenty four in all of our styles, So I 137 00:06:46,520 --> 00:06:48,520 Speaker 2: feel like we could have been a great addition to 138 00:06:48,560 --> 00:06:51,120 Speaker 2: your customer base with how hard it is for anyone 139 00:06:51,200 --> 00:06:53,000 Speaker 2: above a size fourteen to shop. 140 00:06:52,800 --> 00:06:54,040 Speaker 1: Pretty much anywhere. 141 00:06:54,200 --> 00:06:56,320 Speaker 2: If you do ever change your mind, let me know, 142 00:06:56,440 --> 00:06:58,120 Speaker 2: have a great week and hopefully speak soon. 143 00:06:58,360 --> 00:06:59,120 Speaker 3: And did you hear back? 144 00:06:59,320 --> 00:07:02,800 Speaker 2: No, never got a what I never heard back from that, 145 00:07:03,320 --> 00:07:07,000 Speaker 2: which was fine, like no, that is I defended that. 146 00:07:07,040 --> 00:07:09,560 Speaker 2: They reached out and said we love your brand and 147 00:07:09,600 --> 00:07:12,200 Speaker 2: your story and everything, and then I said, oh, I'd 148 00:07:12,200 --> 00:07:14,320 Speaker 2: love to chat and she's like, actually no. 149 00:07:15,320 --> 00:07:17,480 Speaker 3: Upon reflection, we actually don't want to work with him. 150 00:07:17,520 --> 00:07:19,520 Speaker 3: Don't send the email on the first place, do you 151 00:07:19,760 --> 00:07:20,600 Speaker 3: due diligence? 152 00:07:20,760 --> 00:07:23,520 Speaker 2: Yes, it was bloody weird, but again this was three 153 00:07:23,600 --> 00:07:28,160 Speaker 2: years ago, so I kind of let it slide and whatever, 154 00:07:28,400 --> 00:07:30,600 Speaker 2: you know, and fate was a baby back then, like 155 00:07:31,360 --> 00:07:33,200 Speaker 2: we might have had two stores, then we might. 156 00:07:33,120 --> 00:07:33,720 Speaker 1: Have just had the one. 157 00:07:33,760 --> 00:07:37,880 Speaker 2: I don't remember, okay, So then I let that die, 158 00:07:37,960 --> 00:07:39,560 Speaker 2: like that idea die. 159 00:07:39,640 --> 00:07:43,240 Speaker 1: I didn't find out any of the pricing or anything like. 160 00:07:43,280 --> 00:07:44,280 Speaker 1: We didn't get to that point. 161 00:07:44,280 --> 00:07:45,960 Speaker 2: It was just like the intro email and then them 162 00:07:46,000 --> 00:07:47,880 Speaker 2: saying actually no, we changed our minds. Sorry, And I 163 00:07:47,920 --> 00:07:53,880 Speaker 2: was like, no worries and Then in October twenty twenty three, 164 00:07:54,160 --> 00:07:56,600 Speaker 2: so not too long ago. What's that a year and 165 00:07:56,640 --> 00:08:00,440 Speaker 2: a half ago, we had another buyer reach out who 166 00:08:00,440 --> 00:08:05,960 Speaker 2: I'd actually connected with on TikTok, and she again said 167 00:08:06,920 --> 00:08:08,560 Speaker 2: she's been a massive fan of the brand for a 168 00:08:08,600 --> 00:08:10,600 Speaker 2: while and I would love to see if you guys 169 00:08:10,600 --> 00:08:12,320 Speaker 2: wanted to have a chat about the opportunity to have 170 00:08:12,320 --> 00:08:13,400 Speaker 2: fate on the Iconic. 171 00:08:13,720 --> 00:08:15,559 Speaker 1: And I was like, okay, here we go again. 172 00:08:16,560 --> 00:08:18,560 Speaker 2: And so I actually then got on a call with 173 00:08:18,640 --> 00:08:21,320 Speaker 2: this girl and this is no shame to this girl 174 00:08:21,480 --> 00:08:21,840 Speaker 2: at all. 175 00:08:21,880 --> 00:08:23,240 Speaker 1: What I'm about to tell. 176 00:08:23,080 --> 00:08:25,080 Speaker 2: All of you, like this is quite literally just business, 177 00:08:25,120 --> 00:08:27,480 Speaker 2: and here on big business, I just say how it 178 00:08:27,520 --> 00:08:31,280 Speaker 2: is and I share my real experiences. So I got 179 00:08:31,320 --> 00:08:33,679 Speaker 2: excited again. I was like, cool, like round two a 180 00:08:33,720 --> 00:08:35,600 Speaker 2: couple of years later, let's have a look into this. 181 00:08:36,320 --> 00:08:41,040 Speaker 2: And I scheduled in a call with this person as 182 00:08:41,040 --> 00:08:42,319 Speaker 2: well as one of her colleagues. 183 00:08:42,400 --> 00:08:44,800 Speaker 1: So it was me and then two of them, and 184 00:08:44,960 --> 00:08:45,559 Speaker 1: we had. 185 00:08:45,440 --> 00:08:49,040 Speaker 2: Like a discovery call thing, just an initial meeting where 186 00:08:49,040 --> 00:08:51,480 Speaker 2: you kind of talk through what it's like to be 187 00:08:51,640 --> 00:08:56,040 Speaker 2: on the Iconic. And what I learned is there's a 188 00:08:56,040 --> 00:08:58,559 Speaker 2: lot of different ways that you can be on the 189 00:08:58,800 --> 00:09:01,440 Speaker 2: Iconic because it's such a massive marketplace. They've got lots 190 00:09:01,480 --> 00:09:07,440 Speaker 2: of different options and you can, for example, you can 191 00:09:07,520 --> 00:09:11,240 Speaker 2: be on the Iconic but ship from your warehouse, right, 192 00:09:11,320 --> 00:09:13,640 Speaker 2: so like orders come through the Iconic, but then you 193 00:09:13,720 --> 00:09:17,480 Speaker 2: ship them, or they can like warehouse your stock and 194 00:09:17,640 --> 00:09:20,320 Speaker 2: they can ship it. And there's just all different kinds 195 00:09:20,360 --> 00:09:23,640 Speaker 2: of partnerships that you can do with them. So I 196 00:09:23,720 --> 00:09:25,600 Speaker 2: did this call with them, and I was like, cool, 197 00:09:26,000 --> 00:09:28,840 Speaker 2: send me over the pricing deck, like I need to 198 00:09:28,840 --> 00:09:31,120 Speaker 2: know how much this costs, because that's one thing I've 199 00:09:31,120 --> 00:09:33,840 Speaker 2: always been super curious about, is like, if you're on 200 00:09:33,880 --> 00:09:36,640 Speaker 2: the Iconic, how much money are they actually taking? Like 201 00:09:36,720 --> 00:09:44,040 Speaker 2: surely it can't be cheap. And so I I've still 202 00:09:44,080 --> 00:09:45,520 Speaker 2: got it here. I'm not going to tell you how 203 00:09:45,640 --> 00:09:51,319 Speaker 2: much it is exactly. But I had the call. It 204 00:09:51,360 --> 00:09:56,040 Speaker 2: all went great, they were really lovely, and then I 205 00:09:56,080 --> 00:09:58,800 Speaker 2: had them send through like the pricing guide and deck, 206 00:09:59,400 --> 00:10:02,800 Speaker 2: and straight away I was. 207 00:10:03,600 --> 00:10:04,559 Speaker 1: In my mind. 208 00:10:04,760 --> 00:10:08,199 Speaker 2: My mind went to how on earth am I supposed 209 00:10:08,240 --> 00:10:11,920 Speaker 2: to even make any money by being on the Iconic 210 00:10:12,040 --> 00:10:14,839 Speaker 2: Because the cost to be on there and how much 211 00:10:14,880 --> 00:10:19,760 Speaker 2: they take of every sale, it was just astronomical and 212 00:10:20,200 --> 00:10:23,800 Speaker 2: don't quote me on this, but I believe like they 213 00:10:23,840 --> 00:10:24,880 Speaker 2: can put your stuff on. 214 00:10:25,000 --> 00:10:25,959 Speaker 1: Sale as well. 215 00:10:26,080 --> 00:10:29,200 Speaker 2: Like I'm not one hundred percent sure, but I just 216 00:10:29,240 --> 00:10:33,200 Speaker 2: remember looking at all these numbers and saying, oh my god, like, 217 00:10:33,760 --> 00:10:35,720 Speaker 2: I don't even know how we're supposed to make money 218 00:10:36,040 --> 00:10:38,960 Speaker 2: if that's how much they're taking. And from what I 219 00:10:38,960 --> 00:10:42,800 Speaker 2: could gather based on the conversations that I've had and 220 00:10:43,040 --> 00:10:46,960 Speaker 2: my research is I think for brands to go on 221 00:10:47,000 --> 00:10:49,520 Speaker 2: the Iconic and be on their marketplace, you're going on 222 00:10:49,559 --> 00:10:52,120 Speaker 2: there for the exposure you're going on there to be 223 00:10:52,200 --> 00:10:56,400 Speaker 2: exposed to. They would have millions of customers. Like that's 224 00:10:56,600 --> 00:10:58,559 Speaker 2: I think the number one reason why you'd want to 225 00:10:58,600 --> 00:11:00,480 Speaker 2: go on there. And if I was to put on there, 226 00:11:00,559 --> 00:11:04,000 Speaker 2: it wouldn't be to make money because by the time 227 00:11:04,040 --> 00:11:07,880 Speaker 2: they take all of their percentages and everything and the shipping, like, 228 00:11:07,920 --> 00:11:10,600 Speaker 2: you're not really making any money. It's more so just 229 00:11:10,640 --> 00:11:12,839 Speaker 2: from an exposure standpoint. 230 00:11:13,040 --> 00:11:17,040 Speaker 3: If you did decide to go on there, now, would 231 00:11:17,080 --> 00:11:19,880 Speaker 3: you put only a limited kind of range on there 232 00:11:20,120 --> 00:11:22,600 Speaker 3: to get that exposure and hopefully people will then kind 233 00:11:22,600 --> 00:11:26,280 Speaker 3: of click through or search fate, yeah, as it comes 234 00:11:26,280 --> 00:11:26,800 Speaker 3: to your store. 235 00:11:26,880 --> 00:11:30,240 Speaker 2: And I remember talking with them about that, and I 236 00:11:30,240 --> 00:11:32,120 Speaker 2: think you can just pick and choose like your best 237 00:11:32,120 --> 00:11:33,760 Speaker 2: sellers or whatever. But again, this was like a year 238 00:11:33,800 --> 00:11:37,000 Speaker 2: and a half ago, so I don't exactly remember, but 239 00:11:38,320 --> 00:11:43,040 Speaker 2: I kind of went back to them after a little 240 00:11:43,040 --> 00:11:45,520 Speaker 2: bit and I said, I've got the email here. As 241 00:11:45,520 --> 00:11:47,440 Speaker 2: excited as we are at the idea of being aligned 242 00:11:47,480 --> 00:11:49,400 Speaker 2: with the Iconic, we aren't too sure how he would 243 00:11:49,440 --> 00:11:52,720 Speaker 2: actually make money with the commission being and I gave. 244 00:11:52,600 --> 00:11:54,120 Speaker 1: Her the I can't wait for you to tell me that, 245 00:11:55,320 --> 00:11:55,720 Speaker 1: and then I. 246 00:11:55,720 --> 00:11:58,320 Speaker 2: Said, I mean no offense by this whatsoever, as I 247 00:11:58,360 --> 00:12:01,400 Speaker 2: completely understand just how big the Iconic is and that 248 00:12:01,440 --> 00:12:03,760 Speaker 2: everything is priced the way it is for a reason. 249 00:12:04,280 --> 00:12:06,480 Speaker 2: But I said, I am wondering how brands really make 250 00:12:06,520 --> 00:12:09,160 Speaker 2: money being on your platform, question Mark, Like I was 251 00:12:09,200 --> 00:12:12,199 Speaker 2: just genuinely like, I actually want to know unless you're 252 00:12:12,200 --> 00:12:16,080 Speaker 2: a business that has like an extreme profit margin, which 253 00:12:16,160 --> 00:12:18,319 Speaker 2: I wish we did, but the reality of it is 254 00:12:18,480 --> 00:12:19,319 Speaker 2: like you don't. 255 00:12:19,880 --> 00:12:22,920 Speaker 3: But like Adadas and all those brands that are sold 256 00:12:22,960 --> 00:12:25,240 Speaker 3: on their. 257 00:12:23,960 --> 00:12:27,480 Speaker 2: Their profit margin would be so much higher than us. 258 00:12:28,480 --> 00:12:30,480 Speaker 2: So I went back and said, like, I'm wondering how 259 00:12:30,679 --> 00:12:33,440 Speaker 2: brands make money being on your platform. My guess is 260 00:12:33,480 --> 00:12:36,439 Speaker 2: having super low production costs and marking up the retail 261 00:12:36,480 --> 00:12:39,199 Speaker 2: price high so there is a huge profit margin. Or 262 00:12:39,240 --> 00:12:41,160 Speaker 2: would you say that the main benefit for brands being 263 00:12:41,200 --> 00:12:44,680 Speaker 2: on the iconic is more for from the exposure and 264 00:12:44,760 --> 00:12:47,760 Speaker 2: accessibility side of it. Again, I mean no harm by this, 265 00:12:47,880 --> 00:12:51,040 Speaker 2: and I totally respect the business model entirely. It may 266 00:12:51,240 --> 00:12:53,280 Speaker 2: not just be financially the best choice for us at 267 00:12:53,280 --> 00:12:53,960 Speaker 2: this stage. 268 00:12:54,160 --> 00:12:55,439 Speaker 1: I never heard back. 269 00:12:55,920 --> 00:12:56,839 Speaker 3: No email back. 270 00:12:57,040 --> 00:12:58,240 Speaker 1: I never heard back. 271 00:12:58,480 --> 00:13:00,600 Speaker 2: But again, like I was saying, and like, right now, 272 00:13:00,600 --> 00:13:02,640 Speaker 2: this isn't the best fit for us, but I would 273 00:13:02,640 --> 00:13:04,480 Speaker 2: have loved, like there's a few questions in there with 274 00:13:04,640 --> 00:13:07,560 Speaker 2: question marks, I would have loved some clarity totally. 275 00:13:07,760 --> 00:13:08,400 Speaker 1: And that was that. 276 00:13:08,559 --> 00:13:11,720 Speaker 2: And so that was in October twenty twenty three, and 277 00:13:11,760 --> 00:13:14,320 Speaker 2: then my reply I was in November. I never heard back, 278 00:13:14,360 --> 00:13:17,320 Speaker 2: and again, like this question was probably out of this 279 00:13:17,640 --> 00:13:19,480 Speaker 2: buyer's scope of. 280 00:13:19,520 --> 00:13:20,400 Speaker 1: Work kind of thing. 281 00:13:21,040 --> 00:13:24,040 Speaker 3: I find that so professional. 282 00:13:23,440 --> 00:13:26,480 Speaker 2: Though, even if it was just like a hey, yep, 283 00:13:26,559 --> 00:13:30,640 Speaker 2: completely understand, you know, every business is different, blah blah blah. 284 00:13:30,640 --> 00:13:31,839 Speaker 1: But I just never heard back. 285 00:13:32,280 --> 00:13:34,760 Speaker 3: But depending on what answer she gave you, that could 286 00:13:34,800 --> 00:13:36,599 Speaker 3: have it could have changed in mind, do you know 287 00:13:36,640 --> 00:13:37,000 Speaker 3: what I mean? 288 00:13:37,120 --> 00:13:37,880 Speaker 1: Yeah, absolutely. 289 00:13:37,920 --> 00:13:40,880 Speaker 2: She could have pushed for it and like shown success 290 00:13:41,080 --> 00:13:43,280 Speaker 2: of other businesses that have been on there, she could 291 00:13:43,280 --> 00:13:46,400 Speaker 2: have spoken more about like the exposure and that we 292 00:13:46,440 --> 00:13:48,679 Speaker 2: would be way more accessible to more people if we 293 00:13:48,679 --> 00:13:49,000 Speaker 2: were on that. 294 00:13:49,120 --> 00:13:51,680 Speaker 3: I just saw a potential. Now that's no commission for me. 295 00:13:51,720 --> 00:13:53,840 Speaker 3: I'm out, That's what I think. 296 00:13:54,000 --> 00:13:57,280 Speaker 2: So those are my two experiences with going on to 297 00:13:57,360 --> 00:14:00,319 Speaker 2: the Iconic, And if I was to ever chat with 298 00:14:00,360 --> 00:14:03,160 Speaker 2: them again now I wouldn't do it. The commission was 299 00:14:03,200 --> 00:14:05,920 Speaker 2: far too much that we wouldn't make money, but I 300 00:14:05,960 --> 00:14:09,000 Speaker 2: get that it would expose us to lots of potential 301 00:14:09,080 --> 00:14:12,240 Speaker 2: new customers. But after like seeing all the pricing and 302 00:14:12,280 --> 00:14:13,760 Speaker 2: how it works, I was like, this is just not 303 00:14:13,840 --> 00:14:16,120 Speaker 2: for me. I don't understand how we would make money, 304 00:14:16,400 --> 00:14:18,320 Speaker 2: and we would still be doing a whole lot of 305 00:14:18,360 --> 00:14:20,080 Speaker 2: work like that was with us still shipping all the 306 00:14:20,200 --> 00:14:21,000 Speaker 2: orders and everything. 307 00:14:21,520 --> 00:14:24,520 Speaker 1: So that's my tea. No shame to the Iconic. 308 00:14:24,680 --> 00:14:26,360 Speaker 2: I would be scared to know how many orders I've 309 00:14:26,360 --> 00:14:29,440 Speaker 2: placed on the Iconic, Like it's actually quite dangerous, don't. 310 00:14:29,480 --> 00:14:30,600 Speaker 3: I don't really shop there. 311 00:14:30,760 --> 00:14:33,680 Speaker 2: That's like my one place that I shop because they've 312 00:14:33,680 --> 00:14:35,800 Speaker 2: got everything that they've got makeup skincare a. 313 00:14:35,880 --> 00:14:36,520 Speaker 3: The deal's good. 314 00:14:37,120 --> 00:14:38,080 Speaker 1: They do have a lot of. 315 00:14:38,040 --> 00:14:41,000 Speaker 2: Deals often and like I've got the app and you 316 00:14:41,000 --> 00:14:44,160 Speaker 2: always get the notifications and whatever. They do lots of sales, 317 00:14:44,200 --> 00:14:46,760 Speaker 2: but that's just like my go to place to shop. 318 00:14:46,800 --> 00:14:49,720 Speaker 2: And again, like they're shipping is so fast, especially you 319 00:14:49,720 --> 00:14:50,240 Speaker 2: here in Sydney. 320 00:14:50,280 --> 00:14:52,040 Speaker 1: You could order something and it could come to date. 321 00:14:52,080 --> 00:14:55,880 Speaker 3: Are they trade based yes, Oh, because I'm I mean 322 00:14:55,920 --> 00:14:57,800 Speaker 3: not so much anymore. I was such an a sauce boy. 323 00:14:57,840 --> 00:15:02,800 Speaker 2: But it's but like even me and Newcastle, like most 324 00:15:02,840 --> 00:15:04,440 Speaker 2: of the time I can get something within one or 325 00:15:04,440 --> 00:15:06,360 Speaker 2: two days, which is really good. But in Sydney they 326 00:15:06,360 --> 00:15:09,600 Speaker 2: do same day delivery and certain brands like they're really good. 327 00:15:09,600 --> 00:15:11,160 Speaker 1: And this is no shame to the Iconic. 328 00:15:11,320 --> 00:15:16,200 Speaker 2: I think they're an extremely aspirational business, you know, and 329 00:15:16,280 --> 00:15:18,960 Speaker 2: they're fucking massive, Like let me look. 330 00:15:18,840 --> 00:15:25,880 Speaker 1: Up the Iconic revenue three hundred and six hundred and 331 00:15:25,880 --> 00:15:29,800 Speaker 1: twenty five million, wow in twenty twenty four. Like they're 332 00:15:29,960 --> 00:15:36,000 Speaker 1: extremely inspiring. But I've just had two weird encounters. 333 00:15:35,440 --> 00:15:38,440 Speaker 2: With them that's left kind of a bad taste in 334 00:15:38,480 --> 00:15:40,760 Speaker 2: my mouth. And also like I just couldn't afford to 335 00:15:40,800 --> 00:15:44,240 Speaker 2: go on there because like we just wouldn't make any 336 00:15:44,280 --> 00:15:45,400 Speaker 2: money at the end of the day. 337 00:15:45,560 --> 00:15:47,800 Speaker 1: But I thought that's a story worth sharing with. 338 00:15:47,760 --> 00:15:50,360 Speaker 3: That some yummy tea if anyone has any because I 339 00:15:50,440 --> 00:15:52,600 Speaker 3: know I have some follow up questions, but our bonus 340 00:15:52,680 --> 00:15:54,840 Speaker 3: can't go on forever a bonus. But if you have 341 00:15:54,840 --> 00:15:57,920 Speaker 3: any follow up questions, head onto the Big Business Podcast 342 00:15:58,200 --> 00:16:00,000 Speaker 3: Instagram send them through. 343 00:16:00,280 --> 00:16:02,440 Speaker 1: Yeah, send us a DM. We would love to hear 344 00:16:02,440 --> 00:16:02,960 Speaker 1: your stories. 345 00:16:03,000 --> 00:16:05,960 Speaker 2: But anyway, there's my tea when it comes to the 346 00:16:06,160 --> 00:16:08,920 Speaker 2: Iconic and you're definitely not seeing fad on there anytime soon, 347 00:16:08,960 --> 00:16:10,080 Speaker 2: but still love you Iconic. 348 00:16:10,120 --> 00:16:12,400 Speaker 1: I'm probably one of their number one bloody customers.