Full Length Mirror: Volume 3
A simple, timeless thoughtletter.
Welcome to the third issue, with content that is less focused on “the now” and more on timelessness. Very grateful you’re here. Thrilled to feature a profile of Sam Ben-Avraham, in addition to so much more. Let’s get into it!
An Interview with Sam Ben-Avraham
This is a really special profile for me to share. When starting Full Length Mirror, I simply wanted to write about the things that interested me and that I believed I could learn from. I thought that the profiles I would feature would be a great way to help tell someone’s story and help readers grow, personally and professionally. I underestimated how gratifying and inspiring it has been to do this.
Sam Ben-Avraham has been an “inconsistent constant” in my life since April 2005. He has been a friend, leader, business partner, mentor and client. Sam is many things personally–a father, husband, son, brother and the glue of his family. And professionally, very successful–Project, Liberty Fairs, Cabana, Atrium, HauteLook, WeWork, Kith and Aimé Leon Dore are a few of the businesses he has had a hand in creating, investing in and/or growing.
Here’s how Sam and I met. Back to April 2005. I was about to finish my first year of business school. I wanted to transition to the apparel sector in a product role, but, to no one’s surprise, it was hard to convince a company to hire a former investment banker and MBA candidate as a merchant. So, with about six weeks to go until the summer, I had nothing lined up. While reading The New York Times, I came across a profile of Sam in “The Get: Urban Outfitter”. That weekend, I drove to the Meatpacking District from Boston, knocked on his door and asked if I could work for him over the summer. He said yes.
That summer, I did a lot of things with and for Sam. Helped open up a Meatpacking District boutique called Aesthete. Met and showed real estate to Diane Von Furstenberg. Reviewed financials for Atrium, downtown NYC’s denim destination. And most importantly, helped sell Project, his tradeshow business, to Advanstar, a private equity-backed company consolidating various tradeshow businesses. What was most impressive about Sam was his ability to know what to focus on and when. He had a knack for understanding where his attention would provide the most impact.
Now that you know how we met and a little about Sam, I can tell you about the way the following conversation began. It actually began in exactly the same way one would expect a conversation with Sam to start. “Give me a few–I’m getting into my car to look at a space. The architect is flying in and wants me to see it in person with him. For what? Oh, like a temporary shack or something we’ll do for Kith in Malibu - for swim and stuff.”
Where and How Did He Grow Up
“Jerusalem. Grew up there in the 70s and 80s. Everyone’s heard of it, but no one knows it. Very beautiful. Jews, Muslims and Christians lived in harmony for many years. Very blue-collar city. Government offices. Not very inspiring. One TV channel, one radio station. Lived life in a very ‘present’ way - not too many distractions. As a child, I was independent. My only escape was a handful of movies and a little music. I was super into classic rock - Pink Floyd, Led Zeppelin. While fashion didn’t really exist, I seemed to gravitate to it. Saved money by working at a flower shop during the summertime. Clearly remember a black leather jacket with zippers - the one that Michael Jackson wore. I had to have it. This is ‘fuckin’ badass’. I brought it home and my father flipped out. He made me go back to the store to return it. I was very embarrassed. My dad forced the shop owner to give me my money back - embarrassing for the store owner as well.”
Sam’s father, a bus driver, and Sam’s mother, a stay-at-home working mother of four, worked tirelessly to give their kids a “normal” childhood, one that gave them freedom and the opportunity to explore. Growing up, Sam had trouble in school. He had dyslexia, which no one identified. He bounced between schools, ending up at a military academy at age 16. He couldn’t make it there and transitioned to a work-study program. He would study for two days, work for three, ultimately becoming an electrician. Working with his hands and outside of a classroom environment suited Sam. Interestingly, it was the first time he had to work. He never had to do anything on his own growing up - no bed-making, no dishwashing, no chores. Despite having this new skill as an electrician and experience “working” for the first time, going to the army at age 19 (as is required in Israel) was a total shock. “There was no more ‘can I have five more minutes’? Everything in the army was strict, disciplined and without flexibility. I finally became a man, an adult, because of my time in the army.”
Moving to New York and the Early Years
After the army, Sam had no idea what to do with his life. His two brothers were already in New York, so he decided to move there. They picked him up at the airport on a snowy day in February 1989. One was wearing acid-washed jeans and cowboy boots. “What the fuck is that?” Sam asked. He loved it. “Fuckin’ badass.” Perhaps this is the second time the fashion bug really bit him. “We literally dropped my bags off and washed up. We went to their retail stores - they had one in New Jersey and one in Brooklyn. For about a year, I traveled between Jersey and Brooklyn, never really experiencing New York City. Despite this, I was slowly falling in love with the possibility of being in New York City - and its fashion. We opened our first store in Manhattan at Broadway and Houston in 1990.”
What Sam, his brothers and, eventually his dad, started with was a “cash-and-carry” business. Inventory must be purchased with cash only (so your “buy” better be right). Sam and one of his brothers would go to the Garment District every day to buy inventory and then take it to their stores to sell it. His father took care of the books and re-orders. This was how Sam spent his first three years in New York.
From Cash-and-Carry to Fashion
In late 1992 and early 1993, the family wanted to do something different. They noticed two downtown neighborhoods, SoHo and NoHo, changing. There was a different type of customer in SoHo, very different than the ones they had in Brooklyn and New Jersey. “Everyone felt comfortable in SoHo, people from all five boroughs, a true melting pot. Local artists, fashion people, new restaurants, music people, especially from hip hop.”
They had an opportunity for a space in NoHo in 1993. A corner location at $25,000 per month. “Hip hop started to become mainstream. DefJam’s offices were close by. Their teams would come by all the time, shopping for music videos, concerts and tours. This helped us make the big move and take the lease. I had a gut feeling - I felt like I was on the ground floor of something that was going to skyrocket.”
They opened up a traditional retail store, with pre-orders and agreements and contracts. They started carrying iconic nineties brands like Guess and Marithé+François Girbaud. “We started thinking bigger though. We had cash because we always saved or reinvested the money from our businesses - we were frugal and didn’t have lavish lifestyles. We made the decision to go after the biggest brands in American fashion at that time - Ralph Lauren, Tommy Hilfiger, Donna Karan and Calvin Klein.”
At this time in retail (the early 1990s), e-commerce didn’t exist and most brands relied on wholesale, rather than having their own stores. Distribution for these brands was almost exclusively through department stores. “Our pitch was to be their downtown department store. But, back then, communication was sporadic and entirely snail mail or in-person. We had no e-mails - we would literally send renderings, packages, etc. by mail. They ignored us for months.”
After getting fed up with no responses, Uzi, one of Sam’s brothers, went to Donna Karan’s offices. “Uzi was charming and handsome. He sold the dream, Donna Karan said yes and everyone else followed. Almost immediately, we tasted true success. The neighborhood was ready - we were selling more of each style from these brands than any department store. Sometimes, more than all the department stores combined. Atrium, our store, I believe was responsible for introducing those brands to hip hop culture.”
Fast forward about five years and many of those same iconic brands no longer had the caché they once did. Their distribution was broad, product was being heavily discounted and they were no longer what the cool kids wanted to wear. In order for Atrium to maintain its status as the “downtown Barneys”, it had to find better, more differentiated products. So, it was off to Europe for Sam to find those brands. This shift in tastes and responsibility was fortuitous for Sam, but he wouldn’t realize it for a few years.
Breaking Apart from the Family
While Sam was getting exposure to up-and-coming brands during his travels for Atrium, the family’s business relationship began to fray. Uzi was becoming more involved with Scoop NYC, which the brothers co-founded. Ultimately, the two older brothers broke away from Atrium to concentrate on Scoop NYC, leaving Sam to decide whether to stick with Atrium or to reinvent himself. In typical Sam fashion, he figured out a way to do both.
Sam had the “magic touch” of a talented merchant. He reinvigorated the assortment at Atrium and almost single-handedly created the country’s foremost destination for premium denim, right when $128 jeans were becoming mainstream. Seven for All Mankind, Rock and Republic, PRPS, True Religion, Paper Denim and Cloth and countless others brands created endless lines at Atrium. But Sam had an idea for something bigger.
“I started Project in 2003 with 67 brands - within three years, by 2006, we had 950 brands. Doing Project, on my own, helped build my self-confidence. It was my idea - I wasn’t just the little brother anymore. ”
“In the late nineties and early 2000s, the tradeshow options for “contemporary” men’s fashion were terrible. I saw all of these great brands around the world without a place to exhibit in the US. I had an idea for a tradeshow and went with it. I started Project in 2003 with 67 brands - within three years, by 2006, we had 950 brands. Doing Project, on my own, helped build my self-confidence. It was my idea - I wasn’t just the little brother anymore. No one was around to shoot down my ideas or take them for themselves.” (As Scoop NYC did, taking Sam’s idea of opening a store in the Meatpacking District, which ended up being Scoop NYC’s highest-volume location.)
Sam sold Project for an undisclosed amount to private equity-backed Advanstar and remained involved for two additional years, to capitalize on his earn-out. Sam has gone on to build two more successful tradeshow businesses, Liberty Fairs (contemporary fashion and lifestyle) and Cabana (swim).
Reflections on His Family
Sam and his brothers have reconciled and he is very reflective of how their relationship has evolved.
“ It’s hard to work with family. There were three of us boys - we were all very competitive and we all had very strong points of view on what was right - which was our ego talking. I learned a lot from them and they gave me my start. It was almost like I was marinating in their presence. While I figured out my own path, it was shaped by being around them. ”
“I totally understand why we split. It’s hard to work with family. There were three of us boys - we were all very competitive and we all had very strong points of view on what was right - which was our ego talking. I learned a lot from them and they gave me my start. It was almost like I was marinating in their presence. While I figured out my own path, it was shaped by being around them. Without going our separate ways, I wouldn’t have started Project and I wouldn’t have developed the relationships and confidence I’m so grateful for right now.”
Sam is pensive about his relationship with his father as well. “My dad was a bus driver. Work for him was about survival, not loving what you do. He was an entrepreneur at heart, but didn’t have the chance to do something on his own. So being able to work with him in our retail stores was great, because of the time we spent together and my ability to see some of the things he was great at, like real estate. He had an innate gift when it came to real estate and pushed us to make big decisions based on his gut feeling of a neighborhood or particular street. I was very proud when I was able to sell Project and tell my dad - he was always the first call I made when a deal was done. Usually, my dad didn’t believe me - he wanted the money to show up in my bank account before he was able to “celebrate”. He needed a sure thing. When he was growing up in Israel in the 50s, 60s and 70s, it was very different than it is now. There was no entrepreneurship and people didn’t ‘make it big’ like they do now. For my dad to see some of my success was priceless.”
Success: The Rise, Fall and Rise
The few years after selling Project were tough for Sam, a rollercoaster and punctuated by the Great Recession in 2008. “I made a lot of mistakes. All ego-driven. I was the kid that no one listened to, and it was ‘now look at me’. When 2008 hit, I wasn’t in great shape. I lost a lot of the money I made. Real estate was unsellable, and if I could sell it, it was going for 25 cents on the dollar. People were pulling out of deals. But it was all my own doing. No bad advice - I don’t believe in bad advice. When the whole tree is producing bad apples, something is wrong with the roots - the heart and soul of the tree. My various business ventures were the apples, but I made up the roots. I take full responsibility for all of those losses. When everyone keeps on pumping your ego, you start to believe this shit. You become addicted to that. You want more, more and more. I had one saving grace though: an Atrium location in Miami. It was a cash machine and never stopped printing money. That allowed me to live, survive.”
Atrium in New York went from $13mm to $6.5mm in annual sales. This three-year period, from 2008 to 2011, was a low point for Sam but was also the beginning of something new. “No more time or money on businesses I am not in control of. To do and not to do. No conversations if I don’t understand the business. I knew retail and a little real estate, so I decided to focus my time on three things: Atrium in Miami, building something with Adam Neumann and with Adam Bernhard, the founder of HauteLook. I said I’m going to believe in the idea and believe in the person. It could be an amazing idea but if I don’t have respect for the person, I’m not going to do it.”
Investing and Partnerships
Sam met Adam Neumann through mutual friends when Adam first arrived in New York. There are many twists of fate in Sam’s life and career, but how he became Adam’s first investor is kismet. In the tightly-knit Israeli community in New York, Sam has a reputation for doing what’s right, sticking by his word and having intuition that has rarely been wrong, especially about people and new business models.
“Adam and I were friendly, always trading ideas about everything. We had an early idea together, which was kind of like a vertically-integrated fashion building. We had good chemistry from Day 1. We were going to sub-lease multiple floors of a building in the Garment District - we’d have showrooms, brands, manufacturers, all in the same place. I was going to provide the capital and relationships; Adam would make it come to life. We identified a building, negotiated with the landlord and were ready to go. At the last minute, the landlord backed out. So, we had an idea that both of us loved but the biggest part - the actual building - was taken away from us. I now had this money I was going to invest in Adam and didn’t know what to do with it.”
At the time, there was one concept similar to WeWork. It was called Sunshine Studios and was on Canal Street. Sam knew of it and liked the business model. When Adam wanted to show Sam what would become WeWork, Sam was instantly hooked. “I visited his first building, which was at Lafayette and Grand. The way Adam walked me through how he was building this concept blew me away. He made a deal with the landlord, taking the whole building, but getting every floor four months apart. It took Adam 90 days–to the day–to construct and finish the floor, so he could predict his cash flow. He started construction on the top, rather than the bottom. He essentially built his own construction firm. These were things that someone would figure out after doing several deals, but this was Adam’s first one.”
Adam’s earliest investor walked away and in walked Sam with a large check, with the funds remaining from their unrealized vertically-integrated fashion building. “I owe a lot to the investor that walked out on Adam and to the landlord that pulled out of our deal.” Though we’re all familiar with WeWork’s story, hearing Sam’s take was really interesting. “We literally had the vision of building something project-by-project and maybe creating a billion-dollar company. I never understood how big it might get.”
“I do everything in my power to make the team shine. To give them everything I know. It’s on them to use any of the tools in my toolbox. Be comfortable with who you are, be the best supporting actor, without having to have the spotlight on you.”
With his newfound discipline of only partnering with and investing in people and products he fully understood, Sam re-focused his efforts on apparel. “Part of the journey after 2008 was really checking my ego. It’s always there - we all have an ego, it’s going to be there. But it cannot be in control of your life. When I look at partnerships, great ideas, great products, great companies, there are fights with partners. What happened? It’s about egos. The Beatles had John Lennon; the Stones had Jagger; there’s always one that’s the superstar; but the supporting cast is what makes it happen. I’m looking for superstars - I have no problem being in the background. It’s OK for me to not be that guy, the superstar. It’s your company. I really don’t give a fuck - it’s yours. I do everything in my power to make the team shine. To give them everything I know. It’s on them to use any of the tools in my toolbox. Be comfortable with who you are, be the best supporting actor, without having to have the spotlight on you.”
It was with this mindset that Sam invested in Ronnie Fieg, who is the creator of streetwear brand Kith, back in 2010, before “streetwear” and “collaborations” were commonplace and being taught about in business school case studies. The same mentality led to Sam’s investment in and partnership with Teddy Santis, who is the creator of Aimé Leon Dore, lovingly referred to as ALD by its loyal fans.
“There are no numbers, no targets, no timelines. We created brands with an authentic, emotional connection to our customers. The luxury we have is that we don’t have to report to anyone on performance. That’s the beauty of everything we do. We run profitable businesses to begin with.”
Sam downplays his involvement, but shares some of the reasons for each of these brands’ tremendous growth, staying power and cultural relevance. “There are no numbers, no targets, no timelines. We created brands with an authentic, emotional connection to our customers. The luxury we have is that we don’t have to report to anyone on performance. That’s the beauty of everything we do. We run profitable businesses to begin with. Don’t have the pressure of having to bring outside money to support it. If Teddy decides not to grow revenue, he doesn’t have to. That’s the beauty of having a privately-held company.”
I ask Sam about how that may change with the recent investment into ALD by LVMH Luxury Ventures. “Everyone puts pressure on growth, growth, growth. But to build something of lasting value, there are other ways to “grow” besides sales. It’s a very exciting time for ALD. The partnership with LVMH was a dream of Teddy’s and we were able to deliver on that. Teddy and LV share a lot of common visions. They believe in his vision. It’s a great partnership.”
Wisdom in Middle Age
I wanted to learn about what Sam has learned about on his life path. Two things stood out: understanding your ego and maintaining flexibility in your thinking.
“I definitely realized in my 40s how much my ego was driving my decision-making, both good and bad. ”
“In your 30s your ego is still pumping - every day that is what drives you. In your 40s, you are supposed to figure out how to control it. That takes maturity in addition to constantly putting the work in to understand what is motivating you, what mistakes you are making over and over. I definitely realized in my 40s how much my ego was driving my decision-making, both good and bad. Understanding why I do certain things has taken a lot of time and I still make mistakes, but I understand myself so much better now that I can identify when my ego is having a disproportionate impact on my decisions.”
As for how to work on his ego, Sam shares this. “I started my spiritual journey in 2009. There is not one singular method or religion or spiritual practice I follow. I read, listen to podcasts, attend workshops and try to pay attention to many different modalities, whether physical, spiritual or religious. There’s no right way. There are many paths and you have to find the one that works for you.”
Legacy
From 1990 to late 2021, Sam had an office and a home on the same block in New York…almost 32 years. Now, at age 55, Sam recently relocated to Malibu. The open air, space, water and sunshine suit him and his current priorities: family, wellness and having the space to think about how to help his companies. I wanted to understand what legacy Sam wants to leave or simply what legacy means to him.
“Legacy is all about what you leave behind for your family and friends - values and character, things that cannot be measured.”
“Legacy doesn’t have to be connected to ego. It can be, but it doesn’t have to be. I have no problem with people thinking about legacy and stuff like that. I don’t need to put my name on top of buildings to consider what I’ve built a legacy. Legacy is very personal. It should be about the people that matter. For me, that’s my family and friends. That’s what I care about. I think about my grandmother often - she passed away 32 years ago. She wasn’t tremendously educated and had no professional accomplishments. But her legacy was my father and his legacy is me. My dad passed away three years ago. Not a day passes by without me sharing stories about both of them with my family. Hopefully, my kids and their kids will take what we have built as far as relationships, work ethic, honesty and creativity and cherish those values and pass them along. Legacy is all about what you leave behind for your family and friends - values and character, things that cannot be measured.”
WATCH, READ AND THINK
Watch: Tim Ferris
Everyone, especially people that have a media presence, is selling something to you - whether their own product or a sponsor’s product. It was refreshing to see Tim Ferriss show that he had some skin in the game…and express additional generosity, which appears to be a $35,000 donation to Donor’s Choose (more than a solid gesture). This was all because one of his show’s sponsors had issues fulfilling orders in time for Valentine’s Day.
LISTEN
FLM: February 2022
READ
1,000 True Fans
This is a classic essay, first published in 2008. So much has changed since then - influencer marketing, the creator economy, Patreon, etc. But I think this post is not solely relevant for those that are creators or striving to be creators. The methodical way that Kevin Kelly explains his POV is easy-to-follow and applicable to living your life with greater focus and developing deeper, more meaningful relationships, both professional and personal.
Maybe a few raised eyebrows because I think this will be timeless, but give it a shot and I think you’ll agree. Vulnerable, in touch with his ego and funny, Will Smith writes about his childhood, his meteoric rise, quick fall and rebound to become one of the world’s biggest stars. For those that grew up watching The Fresh Prince of Bel-Air, listening to his songs or watching movies such as Men in Black, it is remarkable how long he has stayed relevant.
Ten wonderful short stories from one of the best writers out there, George Saunders. Winner of the Macarthur Fellowship, the Guggenheim Fellowship, the Booker Prize and many more, this guy can write. And fun fact (for my Colorado people…and geophysicists), his undergraduate degree was in Geophysical Engineering at Colorado School of Mines.
SPEND (A LITTLE. OR A LOT)
Clean and Simple
HAY CANDLES
Clean, colorful and simple ways to liven up a dinner table, countertop, bookshelf or desk.
(Help You) Eat or Drink
OXO SQUEEZE BOTTLES
These have brought me immense happiness. You can get six-, 12- or 16-ounce bottles. It makes it easy to “pour, drizzle, dress, or plate precisely” because of a great locking mechanism. Trust me, (close to) life-changing, especially if you spend time cooking or making drinks at home.
Funecessary
DANDELION CHOCOLATE LARGE CHIPS
Yes, $30 for a little over a pound of chocolate chips is expensive, but wait until you try these. These are massive in size (more like a well-designed geometric marvel than a chocolate chip), melt beautifully, taste divine and were even designed by a senior industrial designer at Tesla.
Funecessary (bonus)
ANYTHING AT AIMÉ LEON DORE
Just go to the site and try to find only one thing - it’s going to be hard. And read this month’s profile on one of the brand’s earliest investors, Sam Ben-Avraham.
MORE CONNECTION: BUY BOOKS
Hard to think of a better investment of your money than a book (with the exception of a library book…but you can’t give that as a gift). How many times have you recommended a book (or vice versa)? Wouldn’t it be nice to be on the giving or receiving end of a thoughtful book recommendation…and actually give or receive it in physical format (or e-book)? If you mention a book to someone (and you like them), buy it and send it to them with a little note. Low-cost, high TQ (thoughtfulness quotient).
MAKE, SHARE AND EAT
Versatile Pan-fried Chickpeas
Chickpeas are part of many food traditions, including Italian, Middle Eastern and South Asian. Delicious, healthy, affordable and convenient, they ought to become part of your regular rotation. I hope this recipe helps make that happen! As before, this dish is great for entertaining, as it accommodates multiple dietary preferences, restrictions and perversions (vegan, vegetarian, Keto-friendly, gluten-free, etc.)
Approximate Ingredients (serves four as an appetizer)
Two cans of chickpeas, rinsed and patted dry
Two tablespoons fat of your choice, plus more for drizzling and/or taste
Option 1: Olive Oil
Option 2: Ghee
Option 3: Coconut Oil
Your choice of herbs or spices
Option 1: Italian (prefer olive oil as fat)
Two teaspoons crushed red pepper flakes
One-quarter cup tightly-packed chopped fresh basil
One tablespoon fresh thyme
One teaspoon fresh oregano
Freshly-ground black pepper to taste
Salt to taste
Optional: Parmigiano Reggiano and fresh-squeezed lemon juice
Option 2: Middle Eastern (prefer olive oil as fat)
Two tablespoons Za’atar
Salt to taste
Option 3: Indian (use either ghee or coconut oil as fat)
One tablespoon cumin seeds
One-quarter cup finely diced white onion
One-quarter cup tightly-packed chopped cilantro
Juice of one lemon
Salt to taste
Option 4: Naked (I’m fat neutral on this one)
Sea salt
Approximate Steps
Option 1: Italian
Add all olive oil to a cast iron skillet on medium heat. Let heat for about three to four minutes, until oil shimmers
Add chickpeas. Keep heat on medium to medium-low and let them get slightly browned and crispy, between 10-15 minutes
Add crushed red pepper and fresh thyme and fresh oregano. Let sizzle (they ought to get fragrant). Feel free to add a little more olive oil if your chickpeas are getting dried out (they should have a sheen to them)
When chickpeas are at your desired crispiness, turn off heat and add fresh basil, salt and pepper. Feel free to top with freshly-grated Parmigiano Reggiano and fresh-squeezed lemon juice (and maybe a drizzle of olive oil)
Important to serve immediately. Enjoy!
Option 2: Middle Eastern
Add all olive oil to a cast iron skillet on medium heat. Let heat for about three to four minutes, until oil shimmers
Add chickpeas. Keep heat on medium to medium-low and let them get slightly browned and crispy, between 10-15 minutes
Add za’atar (and salt to taste)
Drizzle with additional olive oil if desired
Important to serve immediately. Enjoy!
Option 3: Indian
Add all of either coconut oil or ghee to a cast iron skillet on medium heat. Let heat for about three to four minutes, until fat shimmers
Add chickpeas. Keep heat on medium to medium-low and let them get slightly browned and crispy, between 10-15 minutes. At about the five-minute mark, add the cumin - you want the seeds to “bloom” in the coconut oil or ghee and get fragrant. If you put them in too early, they’ll burn
When chickpeas are at your desired crispiness, turn off heat and add onion, cilantro and lemon juice, along with salt to taste. Maybe add a little more ghee or coconut oil (make sure it’s melted)
Serve NOW!
Option 4: Naked
Add any fat to a cast iron skillet on medium heat. Let heat for about three to four minutes, until fat shimmers
Add chickpeas. Keep heat on medium to medium-low and let them get slightly browned and crispy, between 10-15 minutes
Add sea salt
Drizzle with additional fat if desired
Important to serve immediately. Enjoy!
Work hard, make sure they know you love them and stay healthy.
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