Beauty and the Bust: A Financial Teardown of BWX
From beauty powerhouse to financial failure, here’s the story of how BWX’s acquisition strategy, including Go-To Skincare, backfired.
The rules of the game: A financial teardown of Games Workshop
Here’s why Games Workshop and the Warhammer franchise may be the best capital compounding business machine you’ve never heard of.
Home truths: A financial teardown of Brosa
Furniture and homewares retailers are getting crushed right now. Made.com, the UK’s publicly listed furniture store, stopped taking orders last month, citing solvency issues. Interiordefine, a custom online furniture retailer in the US, entered voluntary administration last month. And Brosa, the Australian online furniture retailer, entered voluntary administration last month, and was acquired by Kogan.…
The hidden profits in pallets: A financial teardown of Brambles
Take a look around your house. Every item of furniture you own, every product in your pantry, every material of your house construction would have been transported, at some point, on a wooden pallet. The humble pallet is the vessel that transports $trillions of goods around the globe. The design hasn’t changed in decades. It’s…
How Afterpay earns its margin
I have a love-hate relationship with Afterpay. The patriotic version of me is proud to see an Aussie fintech unicorn taking on the world. A brand that is changing the way consumers use credit. On the flip side, the fiscally responsible accountant in me despises it. A company that profits by promoting consumerism to…
The economics of accounting firms: A financial teardown of Kelly and Partners
I didn’t become an accountant because I’m good with numbers. Despite the stereotype, my mental math is terrible. I need Excel to do basic arithmetic. I gravitated towards accounting because I love the money side of business. I love uncovering how much profit a business makes. What the margins are. How minted the owners are.…
Catchoftheday: A financial teardown
I’ve recently returned for my first international holiday since COVID – a hiking trip in the Canadian Rockies with the family. For the first time since I can remember, I intentionally switched off from work. I turned on my ‘OOO’. Deleted all work apps from my phone. “Lost” my passwords. I couldn’t even login to…
Temple & Webster emptied my bank account!
My suspicions arose on the third consecutive day he visited the house. The overly friendly man. Pearly white teeth, charming smile. He comes bearing gifts. Gifts for my wife. She awaits this mysterious man every day, constantly checking her phone and emails for updates. She leaps with excitement as he pulls his van into the…
Is Gymshark worth $1.4 Billion?
I am probably the least fashionable person you’ll see at the gym. My workout attire is what most people regard as ‘home clothes’. You wouldn’t know if I was off to do a tip-run or 30mins on the treadmill. I never really understood why people bought clothes specifically for the gym. I mean, you’re going…
A reflection of FY20 at SBO
As another financial year comes to close I make a habit of reflecting on the year that was. This is from the lens of personal development and company milestones -what we achieved, what we failed at, what we can do better. We don’t normally share these publicly. Not because they’re not valuable – but because…