SKIMS Taps DoorDash for On-Demand Delivery | Fast Five Shorts

0:00Best thing that's ever happened to you financially, go. Easy! Sold my car on Carvana! Amazing offer! Really? I hit 200 on the scratcher. Did the scratcher come to your house and hand you a check? No. How many scratchers did you hit to get that? I hit a button on Carvana.com once. Okay, that's fair. It's like the lottery except you always win. Not like the lottery at all, actually. Exactly! Inexplicably good. Offer's worth bragging about. Sell your car today on Carvana. Pick up these may apply. We all have routines. I'm Gibran and with diabetes, mine was finger sticks. Sometimes I skipped them because they hurt. The freestyle library CGM changed that. It gives me glucose insights without finger sticks. Learn more at freestylelebray.us Finger sticks are required if your glucose alarms and readings do not match symptoms. Or when you see check blood glucose symbol for the first 12 hours. The views expressed should not be used for medical diagnosis or treatment as a substitute for professional medical advice. Individual circumstances may vary. For prescription only, safety info found at freestylelebray.us. Schims has partnered with DoorDash for its first ever on-demand delivery offering, making

1:05more than 23,000 styles. 23,000 styles from its US stores available for delivery in under an hour on average. According to a DoorDash press release, Schims is available on the platform from 17 stores across 11 states and Washington, DC, with nine additional stores coming soon. And DoorDash is Schims first on-demand delivery partner. Schims is the first brand on DoorDash to offer a full range spanning undergarments, everyday clothing and outerwear. Its complete wardrobe approach. Its quote complete wardrobe approach. Excuse me for missing the quote rather than a narrower category. Josh, does on-demand delivery via DoorDash, do you think it helps or hurts a brand whose whole appeal like Schims has been built on exclusivity? I'm noticing a theme today by the way Chris. I know right. Yes, there's a theme going on here. So, anyway, I don't think it hurts them at all. No. I think DoorDash wants to expand more into general merchandise, right?

2:07Most of their business today is obviously in the food area and Schims wants more distribution channels. So overall, I think it's fine for both of them. Like, I don't think it's going to damage either one of them. I think the question is less about kind of a brand impact and more about the potential upside, which in my mind is pretty limited. It just seems like such a specific occasion-based purchase, right? So for me, when I think about DoorDash, I would ask two questions. It's like, how often do I need it and how quickly do I need it? And to me, this doesn't necessarily meet that criteria. I mean, I don't just on a whim say, oh, I need some underwear or I need it, you know, pair of shorts in like 30 minutes. It just doesn't happen that often. And so, I think that that's... It's hot. Yeah, exactly. Exactly. Thank God. Yeah, I think the consumer has to be like, oh, yeah, you know, in the moment, I can get Schims on DoorDash. And that has to be kind of ingrained in people's mind in order for it to be successful long-term. But for me, yeah, I would focus more.

3:08If I have DoorDash, I'm focused more on, you know, consumables in the GM space. Like if you run out of toilet paper, that's an emergency, right? Yeah. But when you need a new pair of shorts, it feels like less of emergency. I guess unless you don't have any toilet paper, that maybe it becomes more of an emergency. But, yeah, I think it's a win for the brands. I don't know if it's a win necessarily for the customers. So Chris, so first of all, what is the theme you're seeing? Because I want to come back to that statement. What is the theme you're seeing so far in today's show? Well, everybody's expanding into spaces that aren't their niche, right? Right. Okay, that's what you're seeing is the theme of the marketing. It's kind of happening across the board today when you think about some of the headlines. And that, I don't know, like me personally, I don't like that. But I might just be, you know, a crotchety old man that's like, yeah, please stop changing things. You know, you're grand terino, get off my lawn. Yeah, exactly.

4:09I think maybe that's what's happening. Yeah, yeah. And that movie was filled in Michigan too, hard obviously. But yeah, no, I mean, that's funny. I'm going to ask you that because for me, the theme is really just the continued move towards quick delivery. Yeah. But I think you've taken it up a level, which is really, really smart. And it's an interesting way to think about an interesting lens to which to evaluate all the topics we've discussed on the show. So my next question for you is, do you think, do you think this is a bigger win for skims or for DoorDash that this partnership is happening? I think it's a bigger win for DoorDash. Just because. Yeah, because I think that, you know, they have been more exclusive, I think in the past, in terms of what, you know, where they're selling. And so I think it's a win for DoorDash, gives them some brand notoriety. But I think like ultimately, I think DoorDash can do a lot more general merchandise really well outside of like what, outside of a peril, I guess. Yeah. Yeah. In a lot of ways, it's a great marketing move for DoorDash to signal, hey, we've got more

5:12than just restaurants, basically, right? Restaurants are, you know, quick delivery, traditional quick delivery. I was like, you were saying. I mean, like, this was probably my favorite headline of the week to talk about. Like when I saw this announcement, I was, I was actually stunned. I couldn't believe that this partnership was happened or the, sorry, that this partnership happened because for me, like, like, I can now get, if you stop and think about it, you just step back, Josh, like to your point about like the themes of the show, I can get shapewear and a meatball hogey in the same order, essentially. Like I could order one and double dash the other. That's just, that's just crazy to me. And so like the fact that DoorDash is here in this position to be able, to even be able to sell skims, which, you know, has the Kardashians all over it, tells you something about where DoorDash is trying to go with this. And I've said it for a while in this show too that the dash pass is one of the more compelling

6:12subscriptions that I own, at least until Walmart copies them, which is going back to our first time, like Josh, right? Like, you know, maybe that's the play there too. But so, you know, going back to the question that asks you as well, like, does it hurt skims to do this? So like DoorDash, I think you and I both agree big coup for that, right? Does it hurt skims though? I don't think it does because yeah, go ahead. No, what do you think? I don't think it does either. I think it's hard to know, like, I would need to look at like brand equity study at skims to know like how people feel and think about the brand and everything else and who the people are that are buying. So it's hard to answer that question, but it feels fine. Like, it doesn't like, it doesn't seem out of place, I guess, to me because they're both so wild. Yeah, because I know it is wild, but DoorDash is a big company. And so they're doing a lot of good things. And so I could see, you know, why the partnership could work. I did notice it was only like 17 stores or something that they're going to be able to

7:13throw out of it out of the gates. So it's a small, it's more of a test, I guess, to anything. But yeah, I still think it's cool. They don't have that many stores. Yeah, this stores really should be too. As I'm listening to talk because it shows how much of our minds have changed or shifted in terms of how we think about prestige and exclusivity because the reason I don't think Skims has anything to fear is, as I've said oftentimes on this show too, is I think delivery at the end of the day is like the airline. Curious you take on this Josh, I think deliveries like the airline business. We don't care how our packages get to our doorstep, as long as they get to us reliably with confidence. And we will always choose the cheapest option when we're buying airline tickets, as long as those certain thresholds are met. And DoorDash is showing that they can do that every day, every day at a tremendous scale. So the average person doesn't care. I mean, I don't care, Josh, you care if your underwear is delivered by FedEx, UPS, or even carrier pigeon. As long as it gets you on time.

8:15Yeah, I could care less. I think that's a great, that's such a good point Chris, because it's like those brands protect the way their brand is viewed or presented in stores, right? Or online. They aren't protecting how their brand is delivered. Like, you know, and like, DoorDash seems fine. Like he said FedEx doesn't matter, UPS, I don't care. Like the box is different colors, but it's the same thing. So yeah, I agree. Right, unless you're putting on white gloves to deliver it to my house. Like, you know, like who cares? So that's the thing I think, that's what's so fascinating about this announcement to me is I think we finally arrived where that thesis has been validated that, you know, delivery is a dime a dozen and you just got to get it to the people. And so it's about just getting your, this is Omni Channel retail. It's about getting your product in position in such a way where it's accessible by the people that want to access it.

9:15And there may be some of those people on DoorDash. There may be some of those people on another marketplace. And that's what it's all about. And so yeah, we'll see where our skims goes next. Like, do they start looking at Amazon as a partnership or Instacart? You know, who knows? But yeah, it's really interesting to me.