Fundraising lessons with Flamingo Estate founder Richard Christiansen: 'No one cares about the story'
Richard Christiansen has learned many priceless lessons since he began fundraising for his brand, Flamingo Estate, around two years ago. This includes his surprising realization that many investors care little about the brand or the founder’s story. Instead, he said, there's a near-universal desire among the VC set for 90% margins across personal care products. “Know your audience; they're there to look at the numbers. … No one cares about the [brand or founder] story,” he told Glossy. "I, too, spent so much time on the storytelling, but at that moment, in those meetings, it's only about the numbers.” In the 160 investor meetings he’s attended in the past two years, he’s been told to abandon key parts of his business to increase profitability and to trade its sourcing practices — many of which reflect a hallmark of the brand — for cheaper, faster ingredients. On the podcast, Christiansen also shares with Glossy that he has secured his dream investor and, pending contract finalization this week, will have funding for brand expansion in the coming months. Christiansen launched Flamingo Estate in 2020, during the pandemic, by selling boxes of produce in a Los Angeles parking lot. Nearly five years later, the brand has become an in-the-know measure of luxury and has expanded to subscription produce boxes, candles, books, and personal care products available at Anthropologie, Nordstrom, Bergdorf Goodman, Forward, Mecca and many smaller retailers. The story behind Flamingo Estate, which Christiansen shared on the Glossy Beauty Podcast three years ago, is a departure from the luxury marketing Christiansen was well known for over the past decades, but it still possesses the elevated luxury branding consumers love. The latest in his releases is “The Guide to Becoming Alive,” out this week from San Francisco-based Chronicle Books. The 600-page coffee table book retails for $50 DTC and across the brand's retailers. Its chapters are anchored around in-depth interviews with Jane Fonda, Martha Stewart, Kelly Werstler, Chrissy Teigen, Mecca CEO Jo Horgan and many more influential people. The book includes life lessons from Christiansen's garden, anecdotes from his life and stories about growing his business.