John Venhuizen, president and CEO of Ace Hardware, and Jules Pieri, CEO and co-founder of e-commerce start-up The Grommet, joined Cheddar to discuss the major stake Ace Hardware recently took in the online retailer.
According to The Grommet's CEO Jules Pieri, the partnership with Ace Hardware is going to provide entrepreneurs who sell products on The Grommet greater access to capital.
The Grommet currently brands itself as a company that "launch undiscovered products and helps them succeed." It is known for launching companies such as Otterbox, SodaStream, and Fitbit on its platform.
The deal with Ace is projected to help The Grommet expand its audience and grow its base of 3 million subscribers, according to Pieri. To make that possible, selected products from The Grommet are set to hit in-store and online shelves at Ace Hardware locations across the U.S.
The Grommet and Ace Hardware alliance comes at a time when entrepreneurs are gravitating towards locally-sourced products. Companies such as Amazon, and recently Wal-Mart, are competing in the field. Wal-Mart recently launched "Uniquely J" an independent label to rival Amazon.
Jules said that she believes locally-sourced products have piqued consumer's interest because people have a natural drive to create, and technology offers a platform for this creativity to flourish.
Venhuizen adds that Ace Hardware's brick and mortar stores offer independent entrepreneurs another platform to sell products beyond Amazon.
"We can now bring these makers what we think is a real clear path and a meaningful path to growth without always having to bow down to the altar of Amazon," he said.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
Candace Mitchell Harris discusses her path from computer scientist to founder of beauty tech tool MYAVANA – and how it uses A.I. to analyze each person’s unique haircare needs.
Michael Harris, NYSE global head of capital markets shares what to expect from IPOs in 2024, including A.I. excitement and why interest rate cuts are always helpful.
Lacy Garcia, Founder & CEO of Willow, shares why women, traditionally underserved by fintech, are looking for trust and a personal relationship from their financial advisor.
Alexander Reed, CFA and CIO for Envisage Wealth, breaks down why he thinks rates could stay higher for longer and why real estate, utilities, and regional banks are sectors to avoid.
Big brands that have relied on TikTok videos to reach younger consumers do not appear to be panicking as they wait to see what happens. But they have started planning.
It's been 15 years since the last fatal crash of a U.S. airliner, but you wouldn't know that from a torrent of flight problems that made news in the last three months.
Abortion opponents want the high court to ratify a ruling from a conservative federal appeals court that would limit access to a medication called mifepristone, which was used in nearly two-thirds of abortions last year.
Annie Chechitelli, chief product officer at Turnitin, breaks down how students and teachers alike can learn from artificial intelligence – while still maintaining academic integrity.
