WEBVTT - Tidal New York's Gibb Brothers Make Flip-Flops in USA (Audio)

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<v Speaker 1>Message. Message also includes infrastructure spending and the public education

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<v Speaker 1>public colleges and universities tuition free for in state middle

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<v Speaker 1>class families. Yeah, exactly. Here's really if you pick apart

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<v Speaker 1>the speech speech, you you see her really putting forward

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<v Speaker 1>policies that appeal to specific groups that she needs to

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<v Speaker 1>turn out to vote for her. So with uh the

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<v Speaker 1>income are the tuition free uh college and debt free college,

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<v Speaker 1>she's really making a point to reach out to young voters,

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<v Speaker 1>college students, people who recently graduated from college. You are

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<v Speaker 1>dealing with student student debt. Uh. If all these groups

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<v Speaker 1>turn out very strongly for President Obama, but they haven't

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<v Speaker 1>had that same level of support for Secretary Clinton. They

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<v Speaker 1>really supported Bernie Sanders. So now she's adopting his proposal

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<v Speaker 1>that college should be tuition free. UM. The same thing

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<v Speaker 1>with infrastructure spending, you know, the lack of the lack

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<v Speaker 1>of jobs and good paying jobs. She's using this infrastructure

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<v Speaker 1>plan to sort of try to dump start the economy

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<v Speaker 1>create eight jobs through some government spending. It's a proposal

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<v Speaker 1>that another thing that that Senator Sanders supported, Uh, you know,

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<v Speaker 1>and it's something we've also heard from Donald Trump saying

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<v Speaker 1>that uh. You know, our our country, as as Clinton

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<v Speaker 1>uh quoted in, our country is becoming a third world

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<v Speaker 1>country and our airports are falling apart. Uh So she's

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<v Speaker 1>trying to capture those same voters who want the government

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<v Speaker 1>to invest more in the infrastructure of the country to RUNIPA.

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<v Speaker 1>Thank you for joining us today here on taking Stock.

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<v Speaker 1>He's our US gum reporter for Bloomberg and News. Now

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<v Speaker 1>I want to Charlie Pellett. He is in the news

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<v Speaker 1>room with a Bloomberg Business flash, and thank you, Kathleen,

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<v Speaker 1>Thank you, Pim Fox. The DAL, the SMPNZ, DAK all

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<v Speaker 1>advancing right now. We've got the SMP five hundred index

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<v Speaker 1>climbing eleven to eighties seven. Again, there of five tenths

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<v Speaker 1>of one percent. The DAL, the smpnaztack on track for records.

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<v Speaker 1>The Dow Industrials up one hundred thirty two points to

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<v Speaker 1>eighteen thousand, six hundred twenty eight. Again there of seven

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<v Speaker 1>tents of one percent. The tenure down twenty thirty seconds,

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<v Speaker 1>yield one point five six percent, Gold down a dollar

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<v Speaker 1>ninety the ounce to thirteen thirty five and dropped there

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<v Speaker 1>of point one percent. Crude oil surging four point one

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<v Speaker 1>percent off the dollar seventy three a barrel forty three

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<v Speaker 1>forty four. Hillary Clinton just wrapping up her speech on

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<v Speaker 1>the economy. You heard it live right here on Bloomberg Radio.

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<v Speaker 1>All the people that I have met throughout this campaign

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<v Speaker 1>really prove how wrong this negative, pessimistic view is. America's

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<v Speaker 1>best days are still ahead of us if we make

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<v Speaker 1>up our minds to actually go out and make that

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<v Speaker 1>happen again. Recapping stock surging SMP five hundred index up

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<v Speaker 1>eleven now at six, a gain of five tenths of

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<v Speaker 1>one percent. I'm Charlie Palett, and that's a Bloomberg Business flash.

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<v Speaker 1>Now on Bloomberg Radio, we take stock of small business.

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<v Speaker 1>Small businesses want more streamlining and less red take small

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<v Speaker 1>business and then except the no. But maybe there's so

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<v Speaker 1>many people that have ideas and it has to be

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<v Speaker 1>more than that. It has to be making it real.

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<v Speaker 1>Bloomberg taking stocks on Bloomberg Radio. Oh, we've just been

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<v Speaker 1>listening to a Democratic candidate, Hillary Clinton, speaking in Warren, Michigan.

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<v Speaker 1>One of her themes is reiterating support for strengthening labor

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<v Speaker 1>unions and also manufacturing products in the United States. Here

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<v Speaker 1>to tell us a little bit more about making products

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<v Speaker 1>here in the US is Tim and Tommy Gibb. They

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<v Speaker 1>are the co founders and the co chief executives of

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<v Speaker 1>Title New York, and they join us in the studio.

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<v Speaker 1>Thanks gentlemen for being here. Tim, let's begin with you

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<v Speaker 1>tell us what is Title. It's a flip flop company,

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<v Speaker 1>I know, but what is it? How did you start it?

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<v Speaker 1>And give us the whole story? Well, Title game about

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<v Speaker 1>from a simple notion that Tim and I grew up

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<v Speaker 1>around the footwear business all our lives. Our parents were

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<v Speaker 1>both in it, and um for the past ten years plus,

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<v Speaker 1>we've both been traveling around the world producing shoes, and

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<v Speaker 1>we thought that there was an opportunity to bring that

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<v Speaker 1>production back here to the States, and in order to

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<v Speaker 1>do so, we really needed to come up with an

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<v Speaker 1>innovative production process and look at the way things are.

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<v Speaker 1>These flip flops have traditionally been produced and really changed

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<v Speaker 1>the game with how we make them. Well, Tommy, give

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<v Speaker 1>us so great to have you in studio with your

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<v Speaker 1>brother Tim. I just followed you guys on at Title

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<v Speaker 1>New York, and I want to make sure we understand

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<v Speaker 1>it's T I D A L so uh Timmy or

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<v Speaker 1>t M I should say, what what inspired you? I mean,

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<v Speaker 1>you're in the shoewer industry, but you don't just make shoes,

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<v Speaker 1>you also hire veterans. Yeah, I mean for us, that

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<v Speaker 1>was something that was critical from the start, was to

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<v Speaker 1>put that labor force to work. They made We made

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<v Speaker 1>promises to them when they went overseas, and we need

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<v Speaker 1>to make good on those. Um. Basically, Tommy and I

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<v Speaker 1>have believed in that from the start, and that was

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<v Speaker 1>something that that that we were not going to go

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<v Speaker 1>back on. UM and it's been the most rewarding thing

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<v Speaker 1>that we that we've done in that someone in your

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<v Speaker 1>family in the military, or both our grandfathers were Um,

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<v Speaker 1>we're in Nebraska, guys. That's that's where we were born.

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<v Speaker 1>It's it's in our blood. And more than that, though,

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<v Speaker 1>if you look at the numbers, it doesn't matter. It's

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<v Speaker 1>up near whether you agree with war or not. In

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<v Speaker 1>what wars were in a huge number of Americans believe

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<v Speaker 1>that we should do right by the veterans. That's what

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<v Speaker 1>we that's what we both believe into. Gentlemen, Let's talk

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<v Speaker 1>about where the products actually come from. Because taking a

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<v Speaker 1>look at the details in New York, you do the

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<v Speaker 1>molding in the final assembly in Missouri, you develop the

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<v Speaker 1>wave of foam packagings from New Jersey. You source proprietary

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<v Speaker 1>strap material from Massachusetts. How did you decide on those

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<v Speaker 1>specific locations? So coming back, you know, we were well

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<v Speaker 1>versed in producing shoes around the globe, but here in

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<v Speaker 1>America we had to source out the right partners and

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<v Speaker 1>UM it was critical to us to maintain a percent

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<v Speaker 1>American made product through all componentry and materials. And it's

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<v Speaker 1>been an evolution as we built out the factory and

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<v Speaker 1>found those core partners. UM. Each one of them has

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<v Speaker 1>been the right partner for the right reasons, and we

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<v Speaker 1>look to them to be long term partners for us

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<v Speaker 1>for the future. So uh, it's interesting, Uh the number

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<v Speaker 1>of places that you have around the country. It's not

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<v Speaker 1>just New York, it's Massachusetts and a couple of other locations.

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<v Speaker 1>And you've come up with some innovative materials that's right. UM,

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<v Speaker 1>So through through what we've needed to do that the

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<v Speaker 1>footwear industry and the US is typically driven towards the

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<v Speaker 1>department offense. UM that's through subsidies and things like that.

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<v Speaker 1>They've been able to compete over with overseas. For us,

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<v Speaker 1>what we wanted to do and why we focus on

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<v Speaker 1>flip flops was because we could we could figure out

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<v Speaker 1>a way to automate something that's done through heavy labor

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<v Speaker 1>overseas and win that way because we weren't going to

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<v Speaker 1>do it on labor rates here. Um. So via finding

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<v Speaker 1>these partners that that to Tommy touched on, we've worked

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<v Speaker 1>with them and they've been amazing in terms of working

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<v Speaker 1>with us to really develop the product in such a

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<v Speaker 1>way that makes it better than it's been in the past.

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<v Speaker 1>And that's just through R and D and working hand

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<v Speaker 1>in hand. How did you select the artists whose work

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<v Speaker 1>you would license in order to decorate the flip flops?

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<v Speaker 1>And I understand, what about twenty eight dollars or so

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<v Speaker 1>forth for a pair of them? I know that Keith

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<v Speaker 1>Herring is one of the artists whose work you use. Yet,

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<v Speaker 1>so when we set out to do this, um, the

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<v Speaker 1>way we print the product allows for us to really showcase,

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<v Speaker 1>um the imagery and art seems like a natural um

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<v Speaker 1>it the flip flop serves as a canvas or a

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<v Speaker 1>T shirt for your feet, as we like to say.

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<v Speaker 1>And um, you know we we liked New York and

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<v Speaker 1>iconic you know American figures, and and there aren't many

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<v Speaker 1>more iconic you know American artists than John Michelle Buscia

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<v Speaker 1>and Keith Herring. And we also worked with Peter Tuney,

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<v Speaker 1>who's been a friend for a long time and is

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<v Speaker 1>um still active just south the Canal Street. So what

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<v Speaker 1>did it take to him to get this off the ground?

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<v Speaker 1>I mean, did you beat strapped? Did you borrow money

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<v Speaker 1>from friends and family? Uh? You know everything you can

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<v Speaker 1>think of? We did. Um, you know, it was there

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<v Speaker 1>was a lot. There's plenty that there were shipments that

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<v Speaker 1>were going out where we had fathers in law helping

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<v Speaker 1>out to pack the shoes at three am. Um. And yeah,

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<v Speaker 1>we bootstrapped it. We did a ton on our own,

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<v Speaker 1>but we had a lot of help from the people

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<v Speaker 1>that we love and from the people that believed in

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<v Speaker 1>what we were doing. Um. But in terms of what

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<v Speaker 1>it took, it took a lot of work. But when

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<v Speaker 1>you believe in something that is in your blood and

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<v Speaker 1>you believe you're doing it for the right reasons, it

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<v Speaker 1>makes it easy to get it done. Um. That doesn't

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<v Speaker 1>mean it's easy to get it done, but it keeps

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<v Speaker 1>you going and it and it and it really motivates

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<v Speaker 1>you every day. So making here, you know, is possible UM,

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<v Speaker 1>and it's it's something that if you put your mind

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<v Speaker 1>to it, it absolutely can be done. And we did

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<v Speaker 1>take UM. We had spa government support with funding and

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<v Speaker 1>we did a friends and family UM investment round to

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<v Speaker 1>begin with. So we uh, we we did have you know,

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<v Speaker 1>that's how we financed the business to get started. That

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<v Speaker 1>you're in a variety of department stores. You're in Bloomingdale's, Nordstrom,

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<v Speaker 1>Lord and Taylor, and also the Broad Museum in Los Angeles.

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<v Speaker 1>I don't know whether you heard about the news of

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<v Speaker 1>Macy's today, they're closing over a hundred stores, cutting that

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<v Speaker 1>of their base. Do you foresee the time when you're

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<v Speaker 1>gonna have your own retail outlets? So right now we're

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<v Speaker 1>really folk gussed on direct the consumer and how we

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<v Speaker 1>can evolve that experience with the consumer. And when we

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<v Speaker 1>started the factory, we focused on UH and the brand.

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<v Speaker 1>We really wanted to focus on emerging in the marketplace

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<v Speaker 1>and getting as much you know as we can out

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<v Speaker 1>there invisibility. And now we are taking that a step

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<v Speaker 1>further with some really awesome customer experiences where and coming

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<v Speaker 1>up on holiday, we'll have customizable platforms where you can

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<v Speaker 1>design your own flip flops on our sites. And we're

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<v Speaker 1>really you know, Tim and I have always focused on

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<v Speaker 1>progression and and progressing. You know a product that hasn't

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<v Speaker 1>been progressive? All right? Tim? Really quick? Where your website?

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<v Speaker 1>If I want to order www dot title New York

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<v Speaker 1>dot com Title New York. They are the founders, brothers,

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<v Speaker 1>Tim and Tommy gab. It's made in America, the employer,

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<v Speaker 1>military veterans. We thank you so much for joining us

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<v Speaker 1>on taking stock today. This is Bloomberg. Small Business in

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