David Lee Roth has invested more than $7 million of his own money in his new skincare company
The following is an excerpt from the article / interview by Fast Company:
“At the end of the day, we have a gentleman who put up his own funds, didn’t go looking for money, didn’t trade out his name, his celebrity, and he could have,” says Gerri Leonard, Patty Leonard’s sister and Roth’s business manager. “In fact, it’s been a battle to get him to even say he was our founder.” Roth confirms he has invested $7 million of his own money in the business.
The newly minted entrepreneur is taking a page from direct-to-consumer stalwarts such as Warby Parker, Harry’s, and Casper. He plans to use consumer data from web sales to glean consumer insights to drive new product launches. Ink the Original is the first in what Roth hopes will be a portfolio of outdoors products. “Everything you’ll need in your RV,” he quips. He’s formed a parent company, Laugh to Win, with offices in Los Angeles and New York, through which he hopes to release as many as 60 products.
Roth’s go-it-alone approach to financing his enterprise may have been shaped by his 30 years in the music business. The only time his energetic demeanor turns slightly grim is when he briefly talks about recording deals that favored the labels over the artists. “This is the first time in my life I’m working as a free man,” he says.
You can read the rest of the article about / interview with David Lee Roth at Fast Company‘s website.