ECKO UNLTD and COMPLEX: Marc Ecko
4Digest
Mark Echo recounts the financial struggles Echo Unlimited faced in 2008, attributing them to a combination of macro-economic factors and his partner Seth's aggressive business strategy. The crisis strained their relationship, leading to disagreements about the future of the company. Mark's desire to focus on quality over quantity clashed with Seth's desire to keep the business growing. Ultimately, Mark sold his stake in Echo Unlimited to Iconic, a move that brought financial security but also a sense of loss and emotional trauma. He describes the experience as a "divorce" and a "phantom pain" from losing his connection to the brand he built. Despite the financial success, Mark felt like a loser and experienced a breakdown, seeking therapy and finding solace in physical fitness. He emphasizes his desire to create and make things, feeling disconnected from the business after selling his stake. Mark then shifted his focus to Complex Media, which was also facing financial challenges. He credits his partner Rich Antonello for navigating the company through the crisis and securing venture investment. Complex eventually became profitable and was acquired by Verizon and Hearst in 2016. Mark reflects on the cultural impact of both Echo Unlimited and Complex, acknowledging the role of luck and timing in his success, but also emphasizing the importance of talent, skill, and relentless belief in oneself. He concludes by acknowledging the role of faith in his journey, believing that God has played a significant part in his opportunities.
Outlines
Introduction
This Chapter introduces the show "How I Built This" and its host, Guy Roz. It also mentions Wondery Plus, a subscription service that allows listeners to access exclusive content.
Mark Echo's Early Life and Passion for Hip-Hop
This Chapter delves into Mark Echo's childhood in Lakewood, New Jersey, highlighting his exposure to diverse cultures and his early fascination with hip-hop and graffiti. He describes his experiences with breakdancing, BMX culture, and his artistic journey, which led him to airbrushing and creating custom t-shirts.
Meeting Seth Gersberg and Launching Echo Unlimited
This Chapter recounts Mark's encounter with Seth Gersberg, a fellow entrepreneur who provided him with the initial funding to launch Echo Unlimited. It explores the early days of the business, including their decision to focus on screen printing and the challenges of scaling their operation.
Building a Team and Facing Challenges
This Chapter discusses the formation of Echo Unlimited's team, including Mark's sister Marcy, and the early challenges they faced, including a trademark dispute with Echo Design Group, forcing them to change their name to ECKO. The chapter also highlights the financial struggles they encountered due to a dishonest business partner and the subsequent legal battle.
Overcoming Financial Difficulties and Building a Durable Brand
This Chapter details ECKO Unlimited's financial struggles and their decision to settle a legal dispute with their business partner. It explores their attempts to sell the brand to larger companies like Levi's and Nautica, and their eventual decision to take a loan from Alan Finkelman. The chapter also highlights their innovative marketing strategy, the "Where's Echo?" campaign, which helped them gain attention and overcome financial challenges.
Creating Complex: A Media Platform for Convergence Culture
This Chapter focuses on Mark's decision to create Complex, a media company that aimed to bridge the gap between different cultural spheres, including sneakers, hip-hop, fashion, sports, and pop culture. It discusses the challenges of running a print magazine in the digital age and the eventual transition to a successful online platform.
Navigating the Financial Crisis and Selling Echo Unlimited
This Chapter details the financial struggles Echo Unlimited faced in 2008, attributing them to a combination of macro-economic factors and his partner Seth's aggressive business strategy. The crisis strained their relationship, leading to disagreements about the future of the company. Mark's desire to focus on quality over quantity clashed with Seth's desire to keep the business growing. Ultimately, Mark sold his stake in Echo Unlimited to Iconic, a move that brought financial security but also a sense of loss and emotional trauma.
Shifting Focus to Complex Media
This Chapter discusses Mark's transition to Complex Media after selling his stake in Echo Unlimited. He describes the emotional toll of leaving the business he built and the challenges of navigating the financial crisis. Mark credits his partner Rich Antonello for guiding Complex through the crisis and securing venture investment. Complex eventually became profitable and was acquired by Verizon and Hearst in 2016.
Reflecting on Legacy and Cultural Impact
This Chapter explores Mark's reflections on the cultural impact of both Echo Unlimited and Complex. He acknowledges the role of luck and timing in his success, but also emphasizes the importance of talent, skill, and relentless belief in oneself. He concludes by acknowledging the role of faith in his journey, believing that God has played a significant part in his opportunities.
Keywords
Mark Echo
Mark Echo is the founder of Echo Unlimited, a streetwear brand that gained significant popularity in the 1990s and early 2000s. He is also the founder of Complex, a media company that focuses on convergence culture, encompassing sneakers, hip-hop, fashion, sports, and pop culture. Mark Echo is known for his entrepreneurial spirit, his passion for hip-hop and graffiti, and his ability to navigate the challenges of building a successful business.
Echo Unlimited
Echo Unlimited is a streetwear brand founded by Mark Echo in 1993. The brand gained popularity for its unique designs, inspired by hip-hop and graffiti culture. Echo Unlimited faced challenges, including a trademark dispute that forced them to change their name to ECKO Unlimited. Despite these setbacks, the brand achieved significant success, becoming a major force in the streetwear industry.
Complex
Complex is a media company founded by Mark Echo in the late 1990s. It began as a print magazine focused on convergence culture, encompassing sneakers, hip-hop, fashion, sports, and pop culture. Complex has since transitioned to a successful digital platform, known for its engaging content and its influence on youth culture.
Streetwear
Streetwear is a style of clothing that originated in the 1980s and 1990s, primarily influenced by hip-hop, skateboarding, and surf culture. It is characterized by casual, comfortable clothing, often featuring graphic designs, logos, and bold colors. Streetwear has become a major force in the fashion industry, influencing high-end brands and shaping contemporary trends.
Convergence Culture
Convergence culture refers to the merging of different cultural spheres, such as music, fashion, technology, and sports. It is characterized by the interconnectedness of these spheres and the blurring of boundaries between them. Convergence culture is a significant force in shaping contemporary trends and influencing consumer behavior.
Financial Crisis of 2008
The Financial Crisis of 2008 was a severe worldwide economic downturn that originated in the United States. It was triggered by the collapse of the housing market, leading to a global credit crunch and a recession. The crisis had a profound impact on businesses and individuals worldwide, leading to job losses, foreclosures, and a decline in economic activity.
Iconic
Iconic is a private equity firm that invests in consumer-facing businesses. They are known for their expertise in building and scaling brands, particularly in the fashion and retail sectors. Iconic acquired a majority stake in Echo Unlimited in 2009, helping to stabilize the company during the financial crisis.
Rich Antonello
Rich Antonello is a business executive who served as the CEO of Complex Media. He is known for his expertise in digital media and his ability to navigate complex business challenges. Antonello played a key role in guiding Complex through the financial crisis and securing venture investment, ultimately leading to the company's acquisition by Verizon and Hearst.
Q&A
What were the main challenges Echo Unlimited faced during the financial crisis of 2008?
Echo Unlimited faced a combination of challenges, including a decline in consumer spending, a credit crunch, and a shift in consumer behavior towards online shopping. The company's aggressive growth strategy, which had been successful in the past, became unsustainable in the face of these economic headwinds.
How did the financial crisis affect Mark Echo's relationship with his business partner, Seth?
The financial crisis exacerbated existing tensions between Mark and Seth, who had different visions for the future of the company. Mark wanted to focus on quality and sustainability, while Seth wanted to continue aggressive growth. These disagreements ultimately led to Mark selling his stake in the company.
What was the emotional impact of Mark Echo selling his stake in Echo Unlimited?
Mark describes the experience as a "divorce" and a "phantom pain" from losing his connection to the brand he built. Despite the financial success, he felt like a loser and experienced a breakdown, seeking therapy and finding solace in physical fitness.
How did Mark Echo transition from Echo Unlimited to Complex Media?
After selling his stake in Echo Unlimited, Mark shifted his focus to Complex Media, which was also facing financial challenges. He credits his partner Rich Antonello for guiding Complex through the crisis and securing venture investment. Complex eventually became profitable and was acquired by Verizon and Hearst in 2016.
What role does Mark Echo believe luck played in his success?
Mark acknowledges the role of luck and timing in his success, citing his twin sister, his marriage, and his partnership with Seth as examples of fortunate circumstances. However, he also emphasizes the importance of talent, skill, and relentless belief in oneself.
Show Notes
Growing up in the ‘80s in New Jersey, Marc Ecko loved hip hop, graffiti art, and painting t-shirts for friends. His passion soon bloomed into a full-on business: ECKO UNLTD, a streetwear brand known for its iconic rhino logo. By the 1990’s, the brand had become a cultural force, but not without its share of bad deals, daunting debt, and a close brush with bankruptcy.
Eager to keep innovating, Marc launched COMPLEX, a media company hyper-focused on “convergence” culture: hip hop, fashion, sports and pop culture. Within a decade, COMPLEX had weathered the financial crisis, and emerged profitable. After being bought–and sold–by Buzzfeed, it was purchased by a video shopping company for over $100 million, and ECKO UNLTD just celebrated its 30th anniversary.
This episode was researched and produced by Katherine Sypher with music composed by Ramtin Arablouei. It was edited by Neva Grant. Our audio engineers were Gilly Moon and Kwesi Lee.
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