Inkkas Shoes CEO on The Profit Can’t Resist Buying
Small business investor Marcus Lemonis of The Profit will visit the Brooklyn-based shoe company Inkkas. The idea of making sneakers from authentic Latin American textiles came to the founder Dan Ben-Nun while he was backpacking across Latin America in 2012. He’s committed to fair-trade principles and he’s been very successful. But the Inkkas business – the company has expanded to make boots and sandals, too – is lagging following a series of questionable financial and strategic decisions made by Ben-Nun.
Some of those rash decisions include buying (and failing to sell) backpacks and hats. When Lemonis sees the extraneous products in the store, he grills Ben-Nun about where they came from. Ben-Nun says he picks them up while he travels to countries including Bolivia and Guatemala. “Do you think the company would save money if I took your passport away?” The Profit airs Tuesdays at 10pm on CNBC.