Intro
In this episode of “The Prof G Pod with Scott Galloway,” Scott interviews Andrew Benin and Allen Dushi, the co-founders of Graza, a disruptive olive oil brand. They discuss their journey as first-time founders, their unique product differentiation approach, and their mission to make high-quality olive oil accessible to everyone.
Main Takeaways
Disrupting the Olive Oil Market
- Graza, founded by Andrew Benin and Allen Dushi, has disrupted the olive oil market with their product differentiation approach.
- They generated $100,000 in revenue within their first week of business and are now at eight figures annually.
- Their product packaging is unique, using a plastic squeezable bottle instead of the traditional glass bottle.
- They also split their product into two categories, drizzle oil for dressing and sizzle oil for cooking.
- Graza is available in over 8,000 stores, including Whole Foods and Target, and has its own subscription service.
The Passion Behind Graza
- Graza was started by two entrepreneurs, Andrew and Allen, who were passionate about creating a universally beloved food company.
- Andrew got the idea for Graza while trying amazing olive oil in Spain and decided to bring the best Mediterranean food to New York.
- The founders wanted to create a company that was approachable and attainable for everyone, unlike other bougie European foods distributors.
- Allen joined the company after a mutual friend put them in touch, and they agreed to take the leap together in just two weeks.
The Importance of Quality and Branding
- Graza aims to make high-quality olive oil accessible to everyone, as many American consumers are unaware that most olive oils in supermarkets are low quality and misrepresent the market.
- Building a strong brand is important for success.
- Simplifying the decision-making process for consumers is key.
- Beautiful packaging can help capture emotion and resonate with consumers.
- Influencer marketing and PR can be powerful tools for launching a product.
The Power of Honest Communication
- The brand prioritizes providing the best quality product, rather than what they think the consumer wants.
- The brand pulled off a great corporate apology that was featured in a Wall Street Journal article.
- Customers respond positively to personal communication from the brand.
- The brand is not founder-first and values raw human connection.
Growth and Success
- Grazza prioritizes sustainable growth over chasing growth for growth’s sake.
- Acquisitions and investments are considered as potential sources of capital for business growth.
- Success for the company includes changing the olive oil industry, having happy employees, and eventually owning a home.
- Providing ample information to employees and fostering a positive work environment is crucial for retaining talent.
Summary
Graza: Disrupting the Olive Oil Market with Quality and Approachability
Andrew Benin and Allen Dushi, the co-founders of Graza, have revolutionized the olive oil market with their product differentiation approach. By offering high-quality olive oil in unique plastic squeezable bottles and categorizing their products for specific uses, they have captured the attention of consumers and retailers alike. Graza’s mission is to make top-notch olive oil accessible to everyone, as most supermarket olive oils are low quality and misrepresent the market.
The success of Graza can be attributed to their focus on branding, simplifying the decision-making process for consumers, and utilizing influencer marketing and PR. They prioritize honest communication with their customers, which has resulted in positive responses and a strong connection with the brand. Grazza also values sustainable growth and aims to change the olive oil industry while maintaining a positive work environment for their employees.
Conclusion
Graza’s journey as first-time founders showcases the power of disrupting a market with a unique approach and a passion for providing high-quality products. By prioritizing branding, honest communication, and sustainable growth, they have established themselves as a leading olive oil brand. Graza’s success serves as an inspiration for aspiring entrepreneurs looking to make a positive impact in the food industry.
