WEBVTT - Delivering Good Using Products to Give Back

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<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 1>Stenebeck on Bloomberg Radio. Well. Since nineteen eighty five, Delivering

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<v Speaker 1>Good has distributed over three billion dollars worth of new clothing,

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<v Speaker 1>home goods, toys, furniture, books, and other consumer products through

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<v Speaker 1>its network of more than eight hundred community partners, and

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<v Speaker 1>they do it to at risk children, families, and individuals.

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<v Speaker 1>The group does it by uniting retailers, manufacturers, foundations, and

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<v Speaker 1>individuals all within the retail and fashion industry. So with

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<v Speaker 1>an update on the work that they are doing and more,

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<v Speaker 1>we're going to dig into a couple of different things.

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<v Speaker 1>Is Delivering Good board member Jaron Bloom, who is here

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<v Speaker 1>in our Interactive Brokers studio. She's also a group president

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<v Speaker 1>of retail over at Michael Core's. And then Delivering Good

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<v Speaker 1>President and CEO Matthew Fasciano. He's on Zoom in New

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<v Speaker 1>York City. So welcome, welcome, welcome, thank you. It's so

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<v Speaker 1>nice to have both of you here. And I've talked

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<v Speaker 1>with members of your team in the past, of the

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<v Speaker 1>Delivering Good team in the past. I do want to

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<v Speaker 1>before we get into a little bit more of the organization.

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<v Speaker 1>I want to start my grow macro if we may,

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<v Speaker 1>because when we have leaders of organizations and companies, it's

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<v Speaker 1>great to kind of figure out what's going on in

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<v Speaker 1>the environment because we spend so much time kind of debating.

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<v Speaker 1>And you know, Matt, let me start with you. Because

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<v Speaker 1>so many members of Delivering Good are in the retail

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<v Speaker 1>and fashion industry. We had some retail earnings this week.

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<v Speaker 1>How are they finding it right now? Is it difficult?

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<v Speaker 1>Is their clarity? Is their visibility?

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<v Speaker 2>Well, I think it's a difficult time for many people,

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<v Speaker 2>both in the industry and outside of the industry. And

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<v Speaker 2>I think we have the great fortune of having some

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<v Speaker 2>very committed brand partners that support the work of Delivering Good,

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<v Speaker 2>and that allows us to keep doing the important work

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<v Speaker 2>we're doing. And I think, you know, the reality is

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<v Speaker 2>the need is as great as ever right now, so

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<v Speaker 2>we continue to rely on them and have great appreciation

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<v Speaker 2>for their support of our work.

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<v Speaker 3>It does seem like we have a real bifurcation. I mean,

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<v Speaker 3>we talked ten years ago about wealth inequality, but the

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<v Speaker 3>pandemic seems to have worsened that. Right The higher income

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<v Speaker 3>consumer is still able to spend and has a fat

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<v Speaker 3>bank account, whereas the lower income American is having to

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<v Speaker 3>put things on credit card if they even have that

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<v Speaker 3>kind of access. What kind of what kind of economic situation,

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<v Speaker 3>Jaron are you seeing right now, Michael, course.

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<v Speaker 4>Well, in North America specifically, I mean, the climate is

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<v Speaker 4>definitely the consumer sentiment is a little tough right now.

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<v Speaker 4>It feels we're feeling it in all of our businesses,

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<v Speaker 4>and it's not just exclusive to Michael. Core's right, industrywide.

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<v Speaker 4>So listen, you know, the economic situation, recession looming, Consumers

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<v Speaker 4>are nervous. We're lapping COVID spend of last year, so

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<v Speaker 4>we're compared to last year and that was post COVID spend.

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<v Speaker 4>On top of that, there's a lot of talk about

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<v Speaker 4>the transition from spending from goods to services and experiences.

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<v Speaker 4>All of that combined creating a somewhat tricky landscape right

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<v Speaker 4>now in North America specifically, so not the same necessarily

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<v Speaker 4>in some of the other regions. So there's a lot

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<v Speaker 4>of travel, and there's more there's more traffic to stores

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<v Speaker 4>and in Europe, and there's a lot of folks going

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<v Speaker 4>from the US to Europe, especially the summer. Asia's finally

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<v Speaker 4>out and shopping and there's a lot of growth and

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<v Speaker 4>a lot of activity and a lot of excitement in Asia.

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<v Speaker 3>By the way, I'm curious because you know, retail and

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<v Speaker 3>in general the consumer is affected broadly by the economy.

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<v Speaker 3>But I wonder in fashion, if there's something that's hot,

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<v Speaker 3>you know, if there's something that's new and completely different,

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<v Speaker 3>does that change the picture a little bit?

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<v Speaker 4>It does it incentivized? I mean, we're, you know, in

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<v Speaker 4>fashion industry, we don't sell anything that anybody needs. So

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<v Speaker 4>creating the demand is a big is a big motivator.

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<v Speaker 4>And for sure, or we're seeing in our business that

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<v Speaker 4>something that's new and it's innovative and really fashion customers

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<v Speaker 4>abting at that.

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<v Speaker 3>So is there anything like that?

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<v Speaker 2>I mean when.

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<v Speaker 3>I don't know because I don't hang around in that

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<v Speaker 3>world too often. But if all of a sudden, you know,

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<v Speaker 3>we go from dark blue heavy denim to acid wash

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<v Speaker 3>ripped jeans, does everybody have to go out and change?

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<v Speaker 3>Is there something like that right now in fashion?

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<v Speaker 4>So something like that right now in fashion? If there is,

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<v Speaker 4>I don't think so.

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<v Speaker 1>Yeah, No, I know, I know what you're saying, Matt.

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<v Speaker 1>It's kind of interesting, Matt. Let me pull you back

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<v Speaker 1>into the conversation because I mean some of the issues

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<v Speaker 1>and I do feel like, you know, you get to

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<v Speaker 1>talk with folks in the retail and fashion world and

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<v Speaker 1>what they're seeing, like Jaron and you also in terms

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<v Speaker 1>of what Delivering Good does and the populations, whether there's

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<v Speaker 1>more demand for your services. Give me an idea here

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<v Speaker 1>we are, what a couple of years out of the pandemic,

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<v Speaker 1>what is the demand for the services that you guys,

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<v Speaker 1>you know, supply delivering good.

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<v Speaker 2>I think the demand is as great as ever. You know,

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<v Speaker 2>we know there's no shortage of need. The biggest challenge

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<v Speaker 2>for us is getting enough merchandise to be able to

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<v Speaker 2>meet the need. And it's you know, we work with

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<v Speaker 2>communities that are experiencing every every social issue you can imagine,

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<v Speaker 2>from everyday poverty to homelessness. We work with people in

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<v Speaker 2>the foster care system, workforce re entry. There is need

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<v Speaker 2>across communities, across demographics. It's just the work is as

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<v Speaker 2>important now as it was during the pandemic and before.

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<v Speaker 1>Matt remind us what you do specifically, like what Delivering

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<v Speaker 1>Good does in terms of connecting the folks in the

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<v Speaker 1>retail and fashion world and then getting the goods out

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<v Speaker 1>to people.

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<v Speaker 2>How it all works, Yeah, Carol, you said it perfectly

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<v Speaker 2>in the opening. We connect retailers and manufacturers and mostly

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<v Speaker 2>in the apparel space and get their excess new merchandise

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<v Speaker 2>into the hands of people affected by poverty, by disaster

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<v Speaker 2>and other social challenges. UH. There's an emphasis for us

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<v Speaker 2>on new merchandise and and we have this strong belief

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<v Speaker 2>that that comes with a sense of dignity and self

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<v Speaker 2>esteem in every every item that we distribute. And again,

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<v Speaker 2>we do this through a network of over eight hundred

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<v Speaker 2>community partners across the United States, predominantly UH. And they

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<v Speaker 2>work in in all sorts of communities and small cities,

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<v Speaker 2>large you know, small towns, large cities, working with all

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<v Speaker 2>types of people and so it really does, you know,

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<v Speaker 2>require partnership sort of on both ends of the relationship

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<v Speaker 2>with the brand partners UH and the and the community partners.

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<v Speaker 1>Jaron, you're one of those brand partners, sure, I am.

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<v Speaker 1>I am curious though about part of you know, running

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<v Speaker 1>any kind of retail organization of any ILK, if you will,

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<v Speaker 1>is also kind of your inventory and delivering good benefits

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<v Speaker 1>maybe when those things don't sell, right, I'm assuming right,

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<v Speaker 1>if it's excess. So talk to us though about your

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<v Speaker 1>guys role and how you think of that about it

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<v Speaker 1>and what you you know, what you want to give

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<v Speaker 1>to this organization.

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<v Speaker 4>Well, the truth is we've been working with Delivering Good

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<v Speaker 4>since two thousand and eight and.

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<v Speaker 1>You've seen a few crises.

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<v Speaker 4>And then in June of twenty twenty, all of a sudden,

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<v Speaker 4>we had a glood of merchandise, as did many of

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<v Speaker 4>our of our Callo retailers, and so what we did

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<v Speaker 4>was we made a substantial donation. Michael Cores made a

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<v Speaker 4>thirty five million dollar donation in June or July of

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<v Speaker 4>twenty twenty, which was because we had that merchandise that

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<v Speaker 4>was so at the end of the day, Delivering Good

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<v Speaker 4>is in this interesting crossroad between you know, social impact

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<v Speaker 4>and environmental sustainability and really gives the you know, companies

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<v Speaker 4>that work with Delivering Good an opportunity to you know,

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<v Speaker 4>do some thing productive with the inventory that's sitting in

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<v Speaker 4>the warehouse versus ending up in landfills. So it's a

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<v Speaker 4>really it's a feel good thing. It's an easy sell

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<v Speaker 4>and we had the merchandise. Now now with you know,

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<v Speaker 4>fast forward six months or eight months, when there was

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<v Speaker 4>not a blood of inventory right in the market. So

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<v Speaker 4>that's a little more challenging to get inventory because there

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<v Speaker 4>is none now, mind you, now fast forward another six

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<v Speaker 4>months and there might be a different situation. So at

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<v Speaker 4>the end of the day, Listen, you don't plan to

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<v Speaker 4>have excess inventory. You always plan to turn your inventory

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<v Speaker 4>into profit. That said, if that doesn't always happen, like

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<v Speaker 4>for example, COVID, you know, this is an amazing way

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<v Speaker 4>to do something super great. You know, delivering good aligns

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<v Speaker 4>with all of our corporate values and it was just

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<v Speaker 4>a feel good thing and we had the inventory to

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<v Speaker 4>do it.

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<v Speaker 1>I have to say, Matt, I keep thinking of a

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<v Speaker 1>story we.

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<v Speaker 3>Do well, Matthew, have you not talked to Audidas about

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<v Speaker 3>getting their easy shoes? They have one point three billion

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<v Speaker 3>dollars speakers in a warehouse that they can't sell.

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<v Speaker 1>They started selling this week, actually.

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<v Speaker 2>I think, and we we'd love to get some of

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<v Speaker 2>the some of the proceeds from those sales.

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<v Speaker 1>Well, what's interesting is and we've got to take a

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<v Speaker 1>break and do some news, but we'll come back with

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<v Speaker 1>Matt and Jaron. But I do think about the stories

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<v Speaker 1>to both of you that we've talked about landfills of

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<v Speaker 1>clothes ending up in developing nations and being thrown out

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<v Speaker 1>and so on and so forth. It's really just a

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<v Speaker 1>crime when you know that there are so many people

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<v Speaker 1>who could use it. I want to get back to

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<v Speaker 1>our guests Delivering Good board member here in our studio,

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<v Speaker 1>Jaron Bloom. She's also group president of retail at Michael

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<v Speaker 1>Core's and still with us, as well as Matt Fasciano.

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<v Speaker 1>He's president and CEO at Delivering Good on Zoom in

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<v Speaker 1>New York City. Matt, one thing I want to ask you,

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<v Speaker 1>and I was trying to find it and I found it.

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<v Speaker 1>It was a Bloomberg story that we did earlier this

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<v Speaker 1>year about kind of a fast fashion backlash to be

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<v Speaker 1>quite honest, and just showed pictures in Ghana of just

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<v Speaker 1>textile waste showing up on their shores. And I'm just wondering,

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<v Speaker 1>we talk about this when it comes to the ag sector.

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<v Speaker 1>How much food is wasted and you have people starving,

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<v Speaker 1>So how do you work on something like that when

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<v Speaker 1>there is probably a lot of clothing from retail that

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<v Speaker 1>kind of ends up maybe in a landfill.

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<v Speaker 2>Yeah, I think Jaren said it incredibly well before before

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<v Speaker 2>the break that. You know, we really do sit at

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<v Speaker 2>this crossroads and offer brand partners a responsible way to

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<v Speaker 2>deal with excess. You know, we think we help companies

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<v Speaker 2>check the E and the S boxes of ESG and

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<v Speaker 2>we would obviously much rather those goods end up distributed

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<v Speaker 2>through us rather than in landfills or shredded or however

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<v Speaker 2>else they might get disposed of. Again, the need is there,

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<v Speaker 2>we want to help distribute it and do the responsible

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<v Speaker 2>thing with that merchandise.

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<v Speaker 3>All right, So how do you drum up new partners?

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<v Speaker 3>I mean Jaren clearly has been working with you guys

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<v Speaker 3>for a while. Well, how do you get new people

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<v Speaker 3>in the door?

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<v Speaker 2>Yeah, it's you know, we we we want to keep

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<v Speaker 2>developing new relationships. I think, you know, part of what

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<v Speaker 2>we offer is what we just talked about, that that

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<v Speaker 2>sustainability solution. I think we operate with tremendous efficiency. Ninety

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<v Speaker 2>nine cents of every dollar we raise goes directly to

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<v Speaker 2>fund the program. So we want to demonstrate to brand

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<v Speaker 2>partners that we can be efficient in the work that

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<v Speaker 2>we do. Part of it is through conversations like this

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<v Speaker 2>one and through the work of our other brand partners,

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<v Speaker 2>and we want to just keep developing new relationships so

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<v Speaker 2>that we can get new product in the pipeline.

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<v Speaker 3>Jared, how did you get involved?

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<v Speaker 4>I got involved because I was so inspired by the

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<v Speaker 4>work that this mission does. Really, so they kind of

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<v Speaker 4>reeled me in based on my x amount of years

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<v Speaker 4>in the industry and figured I could be a match

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<v Speaker 4>just smile at that, and figured that I was aggressive

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<v Speaker 4>enough since I am in fashion retail, that I would

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<v Speaker 4>be aggressive enough to network and try to utilize this industry.

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<v Speaker 3>For a while, you were at Kenneth Cole I was

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<v Speaker 3>a baby. Yeah, when you were a baby, and then

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<v Speaker 3>when you were a teenager you moved to Michael Kors.

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<v Speaker 2>Yeah, yeah, yeah, yeah, Yes, it's a powerhouse.

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<v Speaker 4>But I also actually want to point out that we

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<v Speaker 4>actually we have this event next week week yeah, and

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<v Speaker 4>it's called the Women of Impact Summit, And that's a

0:12:31.880 --> 0:12:35.600
<v Speaker 4>way that we're going to create transparency to you know,

0:12:35.640 --> 0:12:38.600
<v Speaker 4>what we do and influence I want to say, three

0:12:38.600 --> 0:12:42.640
<v Speaker 4>to four hundred guests on Wednesday and inspire them an

0:12:42.720 --> 0:12:43.520
<v Speaker 4>educate the event.

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<v Speaker 1>Why are you guys doing it now?

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<v Speaker 4>Well, it's actually an anorgural event of something. It's an

0:12:48.720 --> 0:12:52.360
<v Speaker 4>evolution of an event that they had called the Women

0:12:52.400 --> 0:12:54.679
<v Speaker 4>of Inspiration Lunch and they have done that for the

0:12:54.720 --> 0:12:58.720
<v Speaker 4>past fifteen years. This is going to be more inspirational

0:12:58.760 --> 0:13:01.920
<v Speaker 4>because it's going to be more collaborative, and it's going

0:13:02.000 --> 0:13:05.760
<v Speaker 4>to be Matt helped me here. This is this event

0:13:05.920 --> 0:13:10.000
<v Speaker 4>is going to create excitement because you're actually going to

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<v Speaker 4>meet women that have done some really great things and

0:13:13.760 --> 0:13:20.160
<v Speaker 4>been able to combine, for example, business innovation with philanthropy

0:13:20.320 --> 0:13:23.560
<v Speaker 4>and community to create some significant outcomes and help with

0:13:23.600 --> 0:13:25.640
<v Speaker 4>some of these social issues. And that we're all faced.

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<v Speaker 1>I think the CEO of Talbots is going to be

0:13:27.600 --> 0:13:29.439
<v Speaker 1>there and Taylor come on and Matt and talk a

0:13:29.440 --> 0:13:30.120
<v Speaker 1>little bit more about it.

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<v Speaker 2>That's right, absolutely, and Jaredy did a great job.

0:13:34.000 --> 0:13:35.839
<v Speaker 1>We don't need anything but go ahead.

0:13:36.120 --> 0:13:37.640
<v Speaker 4>We have to give him speaking.

0:13:38.080 --> 0:13:42.560
<v Speaker 2>In Jared will take it from there. I'll sign off. Really,

0:13:42.679 --> 0:13:45.360
<v Speaker 2>you know, it's it's a Reimagine event this year, and

0:13:45.360 --> 0:13:48.240
<v Speaker 2>and it's it's meant to be interactive and the first

0:13:48.240 --> 0:13:53.360
<v Speaker 2>part of it will will feature a gallery walk where

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<v Speaker 2>we'll have four of our community partners people were actually

0:13:56.120 --> 0:13:59.720
<v Speaker 2>distributing goods on the ground representing the wide array of

0:13:59.760 --> 0:14:03.520
<v Speaker 2>work that we do, and they're going to talk about

0:14:03.920 --> 0:14:06.959
<v Speaker 2>working with delivering good and the impact that our partnership

0:14:07.040 --> 0:14:12.000
<v Speaker 2>has on their ability to impact lives and change communities.

0:14:12.440 --> 0:14:15.280
<v Speaker 2>It will also feature a product display, so for someone

0:14:15.400 --> 0:14:18.200
<v Speaker 2>new to delivering good who may or may not have

0:14:18.240 --> 0:14:20.400
<v Speaker 2>a sense of the kind of high quality goods that

0:14:20.440 --> 0:14:23.840
<v Speaker 2>get distributed, they're going to see goods from some of

0:14:23.880 --> 0:14:29.040
<v Speaker 2>our very recognizable brand partners. So we're excited about that.

0:14:29.200 --> 0:14:32.160
<v Speaker 2>And then, as you said, we'll have the CEO of

0:14:32.200 --> 0:14:36.760
<v Speaker 2>Talbots there, and we'll have Lisa Kaplowitz from the Center

0:14:36.760 --> 0:14:40.920
<v Speaker 2>for Women in Business at Rutgers moderating a panel of

0:14:41.000 --> 0:14:46.160
<v Speaker 2>some incredibly powerful, dynamic women in the industry. Jill Barod,

0:14:46.480 --> 0:14:49.880
<v Speaker 2>who sits on the board of Levi, Giselle Ruiz of

0:14:50.040 --> 0:14:53.080
<v Speaker 2>Sam's Club and currently sits on the board of Alta,

0:14:53.480 --> 0:14:58.280
<v Speaker 2>and Teresa Strickland, a digital brand transformation expert. They're going

0:14:58.320 --> 0:15:02.720
<v Speaker 2>to talk about their path to in impact and really

0:15:02.760 --> 0:15:06.600
<v Speaker 2>what we want is for participants to hear a call

0:15:06.680 --> 0:15:10.760
<v Speaker 2>to action and think about their individual ability to have impact,

0:15:11.320 --> 0:15:14.160
<v Speaker 2>think about our collective ability to have impact. And then

0:15:14.200 --> 0:15:17.360
<v Speaker 2>the day is going to close with twenty eighteen silver

0:15:17.400 --> 0:15:20.840
<v Speaker 2>medal Olympian Lauren Gibbs. She's a Bob the bottle sled.

0:15:20.920 --> 0:15:21.520
<v Speaker 1>That's pretty cool.

0:15:21.600 --> 0:15:24.120
<v Speaker 2>Yeah, yes, And she's going to tell her story. I

0:15:24.160 --> 0:15:25.560
<v Speaker 2>don't want to give too much of it away, but

0:15:25.600 --> 0:15:27.720
<v Speaker 2>she's going to talk about trying out for the Olympics

0:15:27.760 --> 0:15:31.200
<v Speaker 2>at thirty years old, having never done the bob sled before.

0:15:31.360 --> 0:15:34.040
<v Speaker 2>So we want it to be a day of inspiration.

0:15:34.360 --> 0:15:37.560
<v Speaker 2>We want to introduce new people to Delivering Good and

0:15:37.640 --> 0:15:40.720
<v Speaker 2>have people walk away feeling responsible to do something.

0:15:41.520 --> 0:15:43.560
<v Speaker 4>It's pretty impressive what I just think.

0:15:43.960 --> 0:15:46.920
<v Speaker 3>Lauren Gibbs won a silver medal and she was like

0:15:46.960 --> 0:15:49.200
<v Speaker 3>thirty five when she actually won that.

0:15:49.120 --> 0:15:52.640
<v Speaker 1>Which is what she was saying, really impressive. You know,

0:15:52.680 --> 0:15:55.040
<v Speaker 1>when you think about Jaron, the impact that you guys

0:15:55.040 --> 0:15:57.120
<v Speaker 1>are making at Michael Core's on people. And I don't

0:15:57.120 --> 0:15:59.000
<v Speaker 1>know what kind of feedback you hear in terms of

0:15:59.040 --> 0:16:01.240
<v Speaker 1>the goods that you provide to people. You know, what

0:16:01.320 --> 0:16:02.920
<v Speaker 1>is it that it jumps out? We just got about

0:16:02.920 --> 0:16:03.920
<v Speaker 1>thirty seconds left here.

0:16:05.040 --> 0:16:08.560
<v Speaker 4>Well, well, actually, when you hear about the stories of

0:16:08.960 --> 0:16:14.360
<v Speaker 4>what these community partners do, it's so inspiring and there's

0:16:15.680 --> 0:16:17.720
<v Speaker 4>so much work. And the truth is, when I got

0:16:17.800 --> 0:16:20.360
<v Speaker 4>involved with Delivering Good as a board member, I didn't

0:16:20.360 --> 0:16:22.760
<v Speaker 4>recognize that there were so few folks that actually work

0:16:22.760 --> 0:16:25.800
<v Speaker 4>in this organization. So it's a it's a small amount

0:16:25.800 --> 0:16:28.440
<v Speaker 4>of people doing a huge amount of work, and it's

0:16:28.560 --> 0:16:29.480
<v Speaker 4>really inspiring.

0:16:29.560 --> 0:16:31.560
<v Speaker 1>Like as we said at the beginning, three billion dollars

0:16:31.560 --> 0:16:34.640
<v Speaker 1>of clothing and home goods and so much other.

0:16:34.560 --> 0:16:37.200
<v Speaker 4>Stuffy billion dollars. Fantastic.

0:16:37.280 --> 0:16:39.600
<v Speaker 1>Yeah, it's pretty incredible. And we talk about public private

0:16:39.600 --> 0:16:41.880
<v Speaker 1>partnerships and people working together, and this is really a

0:16:41.920 --> 0:16:44.640
<v Speaker 1>sign of it. Guys, good luck with the event next week.

0:16:44.720 --> 0:16:48.000
<v Speaker 1>Jaron bloom thank you so much. And Matt Fasciano, of course,

0:16:48.040 --> 0:16:50.920
<v Speaker 1>CEO of delivering good jutting us right here on Bloomberg

0:16:50.920 --> 0:16:52.640
<v Speaker 1>Business Week. This is Bloomberg Radio.