‘Fail fast, fail often, fail cheap’ is a mantra you’d expect to find framed on the exposed-brick wall of a startup – not the new mantra of 70-year-old specialty-appliance distributor, Danby Appliances.
Since becoming CEO of Danby in mid-2015, Jim Estill has been on a mission to instill this move-fast, embrace-failure mindset in his staff. Something the technology entrepreneur has seen first-hand result in exponential growth for many of the over 150+ startups he’s personally invested in and advised over the years.
By leveraging speed and rapidly testing what works in the market, Danby is able to offer high-quality products at faster rates to its customers. How Danby is able to accomplish this without hurting its bottom line is through an initiative that’s been in the works for over two years now called, Danby Labs.
Introducing Danby Labs
“The vision for Danby Labs is simple: a division of Danby dedicated to in-house design, engineering and reverse logistics – the three drivers of innovation at Danby,” says Danby’s Chief Operating Officer, Shauna Gamble.
Danby should not be seen as only a white-goods distributor; the future of Danby resides in make-and-care, something we’re already seeing with product lines like the Silhouette Renoir, Silhouette Pro, soon-to-be released Silhouette Reserve, the 2017 Red Dot design winning Contemporary Classic compact refrigerators, and many more in the design pipeline.
This is not the Danby I used to know…There is a clear evolution to the capabilities and competitive advantage that Danby can offer. Keep a close watch on what’s to come.