Founder of Morphsuits, Fraser Smeaton, featured on the show to discuss the company’s journey.
Fraser discussed how Morphsuits came about, from its original idea, to making £1 million, to taking sabbaticals from their jobs to focus on developing the business, to where it is now with a target to make £45 million this year.
When discussing the key moments and decisions in the business’s journey, Fraser highlights a marketing idea which prevented people from having to ask where the costumes were from: “We put Morphsuits.com on the bum of every suit, so every one we sold became a walking advert. On the first day we wore them, you could see people taking photos of your bum to get the web address.”
When discussing Morphsuits’ break into the US, Fraser remembers visiting the Halloween Costume Show in Houston, where they had paid to email all visitors to the show and they had received several emails from Party City.
He said: “We started Googling Party City and they had 900 stores. Nobody in the UK has more than three costume stores. They wanted to have a meeting with us in advance, so we mete up with their whole leadership team and they sat us down and they said ‘we really like what you’re doing, we haven’t seen anything like this, we’d like you to go exclusive with us and we will guarantee we will buy a quarter of a million units this year and 350,000 next year.”
The discussion goes on to explore how the pandemic affected the business, manufacturing, investors and much more.
To watch the episode on YouTube, simply click here.
