CNBC’s “The Profit” host Marcus Lemonis wants to invest in a hip watch company that donates part of its profits to charity. But when he visits Flex Watches, he realises its brand has strayed from its cool designs and charitable roots.
On the next new episode, which airs Tuesday at 10 p.m., Lemonis meets the guys behind LA-based Flex Watches, cofounders Travis Lubinsky and Trevor Jones. While the company saw some early success in its first couple years of operation, profits have been steadily falling in recent years.
Lemonis then realises that they have begun designing for a higher price point, which has led to a watch that doesn’t stand out in the market and has lost the product’s initial flair. He has also discovered that while they still donate part of their sales to charity, they have buried that aspect of their company brand in recent years.
Style and charity drew Lemonis to Flex Watches, and he believes it was also the company’s strongest selling point during their successful early years.
It doesn’t take long to find out that Jones was originally inspired by his mother’s charitable deeds to found a watch company that gives back. But she died from breast cancer a few years back and Jones now shies away from talking about her influence on the company or referring to its charitable giving in branding.
In a new sneak peek of Tuesday’s episode, which Business Insider is exclusively premiering, Lemonis confronts Jones about his mother’s death and why he no longer wants to emphasise the company’s charity.
Watch the exclusive preview below: