July 23, 2015 • Blog, The Power 50, Uncategorized
When it comes to made-in-Canada, there are few brands that are as quintessential to Canadian identity as Roots. For the past 42 years, the company, with its iconic beaver emblem, has been accompanying people on everything from camping trips to holiday retreats with their crafted leather goods and quality sweats. At the helm of it all are co-founders Michael Budman and Don Green. The story goes that the two met at summer camp in Algonquin Park and hatched their plan to launch a lifestyle brand that epitomizes Canadian culture. Since then, they have managed to create an international clothing empire, and one of the greatest success stories to come out of Canada. Here, Michael Budman looks back on his success and gives some advice on what people should know about business today.
Over the past 42 years, what has been your primary goal with Roots? What are you trying to teach your customers?
The main thing is that from day one, we were always interested in doing things properly. Quality and attention to detail are things that we always strive for. The business has evolved so incredibly in this timeframe, and a lot of it starts at the top with Don and I, and the chemistry we have together. We’ve evolved as Toronto evolved. When I moved to Toronto in 1969, it was a much different place. The brand evolved to represent all that’s good in Canada, focusing on nature, culture and sport.
What makes a great brand?
In apparel, one of the benchmarks is if someone would want to wear your logo on their chest. For us, there has always been something about the beaver; it is a proud and noble animal. The foliage, which it sits on, is our commitment to the environment and doing things the right way. And then there is the word “Roots”, which shows that we all come from something, that we all share something in common. It’s a brand that people want to be identified with because they’ve seen it on a tremendous amount of celebrities, politicians, diplomats, athletes and others that they look up to. These are very personal products that have to do with living a high-quality life. You know what you’re going to get with Roots.
What are the hallmarks of a beautiful product?
Function, durability, design – these are all elements that you start off with. You have to have a good shape, a good idea and a good name, and then from there you build. These are the things that reflect on the product.
You produce and manufacture all your leather goods here on home turf. Why is that important?
When you destroy manufacturing, you’re destroying part of your culture. A terrible mistake was for the manufacturing companies to run out of Canada. We’re the ones that hung in and kept the factory going. We felt a commitment to our staff and have never missed a payday in 42 years. We wanted to continue the factory and make it viable and profitable. It’s a great story because it’s real. We operated this factory when everyone else jumped ship.
How do you think Canada’s business landscape has changed over the years in relation to the rest of the world?
It’s a totally, completely different landscape. For one, much of it is fueled by the Asian market, which is gigantic. Today, there is competition from all over the world. Every brand is within Canada. But, the more competition you have, the better you’re going to do. Digital has made the world a lot smaller, as well. We’re an extremely well-known brand without distribution, so the online business has really been a windfall.
Consumers are more educated, sophisticated and have more resources than ever before. How do you inspire them to keep coming back to your brand?
You treat them with dignity and respect. We answer to our staff and our customers. We’re not operating our business for our shareholders. We’re operating it for the customers and the staff, and that’s the recipe for success, as opposed to running a public company that’s strictly thinking about making a quarterly earning. It’s a different mentality. We’re putting our customers and our team first. And when you do that, it’s a big payback.
What are your thoughts on the Canadian fashion industry? What does it need to flourish into a major fashion capital?
I think we’re close. I think we have to nurture young talent and give them the opportunity. If they have the chance to perform, that’s what is going to help the whole industry. The greatest combination is age, youth and experience, which is something we’re trying to do.
Looking back, what has been the fondest moment of your career?
On a worldwide scale, our association with great athletes and the Olympics has been really special. We’ve always put athletes first, and creating the Olympic uniform concept was something we did at Roots that broke ground. That was a big moment for us. The success in Asia is also something we’re proud of.
What do you wish you knew about business when you were starting out that you know now?
You have to really care about the people you’re involved with. If you have mediocre people, you’ll have are mediocre results. And I hate mediocre in anything - in food, clothing, hockey sticks, anything. You are the company you keep. Show me who you run with and I’ll tell you who you are. It’s really not that complicated.
What do you consider success?
Independence. It’s really important that you have some control over your own reality. I don’t strive for money, I look for success. If you’re successful, the money will come. Don’t chase the money, chase being successful so that your life is working and you’re around good people. It is important that you’re healthy, happy and contributing to society
Don GreenMichael BudmanRootsThe Power 50
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