Adam Pritzker
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Adam Nicholas Pritzker | |
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| Born | July 17, 1984 San Francisco, California |
| Alma mater | Columbia University |
| Occupation | Entrepreneur |
| Known for | Co-Founder, General Assembly and Assembled Brands |
Adam Pritzker, (born 17 July 1984), is an American entrepreneur. He is the chairman and CEO of Assembled Brands, a collection of fashion brands,[1] and co-founder chairman of General Assembly (school), a private school for professional development.[2] He is a member of the Pritzker family, which became one of America's wealthiest families as the owners of the Hyatt hotel chain.[3][4]
Early Life and Family
Pritzker attended Columbia University and graduated in 2007 with a degree in anthropology.[5] He is the grandson of Jay Pritzker, who created the Hyatt hotel chain.[6][7] His father is John Pritzker, an American billionaire and investor in hotels.[8] His relatives include 11 billionaires.[9]
Career
Pritzker co-founded General Assembly in January 2011 with Jake Schwartz, Brad Hargreaves, and Matt Brimer.[10] Pritzker and his partners started the company as a New York coworking space that offered practical classes on technology, design and entrepreneurship.[2] The 20,000 square foot space was modeled after a college campus, according to Pritzker.[2] He served as the chief creative officer, and helped its expansion to eight other locations globally.[11] He was named to the Inc. (magazine) 30 under 30 list,[12] and the Forbes magazine 30 under 30 list[11] for his work at General Assembly. He left his left day-to-day job at the business in 2013 but remained its chairman.[5][7]
Prtizker started Assembled Brands in 2012, intending to create a consumer goods and hospitality conglomerate.[3] As a holding company, Assembled Brands has $200 million under management, with investors including Pritzker himself and other Pritzker family members.[3] Brands Pritzker has invested in include the Line, with products sold in stores staged as private homes in New York and Los Angeles, as well as an e-commerce website; Protaganist, a luxury fashion collection also sold by the Line; Tenfold, a homewares and T-shirt company; Khaite, a contemporary fashion collection.[1]
Pritzker wrote a pamphlet describing a “100-year philosophy” for Assembled Brands.[3] Pritzker says the company provides a network of services, such as finance, logistics, and e-commerce, to emerging brands making around $1 million to $2 million a year in revenue, and that no one brand has to become a breakout success for his holding company to succeed .[1] He also provides start up capital.[7]
In an op-ed, Pritzker argued that small fashion labels faced three major obstacles: not enough actionable data, no bargaining power, and not enough capital.[13] As a solution, he proposed small fashion brands centralize data, share resources such as infrastructure, a sales forces of independent stylists, and be provided with growth capital structured more like a loan than equity investment.[13]
Personal
Pritzker married Sophie McNally in 2016.[14] He lives in Beverly Hills, as of 2014[15] and placed his New York City house up for sale in 2015.[16]
References
- ^ a b c Friedman, Vanessa (2016-06-08). "Can America Build Its Own LVMH?". The New York Times. ISSN 0362-4331. Retrieved 2016-12-07.
- ^ a b c Wortham, Jenna. "General Assembly Aims to Gather New York Techies". Bits Blog. Retrieved 2016-12-07.
- ^ a b c d Gelles, David. "A Pritzker Sets Out With Ideas of Empire". DealBook. Retrieved 2016-12-08.
- ^ Dolan, Kerry A. "Billion-Dollar Clans: America's 25 Richest Families 2016". Forbes. Retrieved 2016-12-09.
- ^ a b "General Assembly Co-Founder Is Leaving To Start A New Company". Business Insider. Retrieved 2016-12-08.
- ^ "Another Pritzker joins entrepreneurial scene". Crain's Chicago Business. Retrieved 2016-12-08.
- ^ a b c "The prince of sales". Fortune. 2013-10-10. Retrieved 2016-12-08.
- ^ "John Pritzker". Forbes. Retrieved 2016-12-08.
- ^ Baverman, Laura (26 November 2013). "Family feud over, Pritzkers invest Hyatt fortune in startups". Upstart. BuizJournals. Retrieved 9 December 2016.
- ^ "General Assembly aims to match education to market demands". VentureBeat. Retrieved 2016-12-08.
- ^ a b Casserly, Meghan. "Adam Pritzker, 28, Cofounder and Chief Creative Officer, General Assembly - pg.23". Forbes. Retrieved 2016-12-08.
- ^ "Where Entrepreneurs Teach & Students Learn Skills". Inc.com. 2016-07-02. Retrieved 2016-12-09.
- ^ a b "Op-Ed | How Small Brands Can Face Heavyweights". The Business of Fashion. 2016-06-30. Retrieved 2016-12-09.
- ^ McNally, Anne. "Anne McNally's Social-Circuit Diary: October 2016 and More". Vanities. Retrieved 2016-12-08.
- ^ "Adam Pritzker's House in Beverly Hills, CA (Google Maps)". Virtual Globetrotting. 2016-02-22. Retrieved 2016-12-09.
- ^ "Wealthy Pritzker scion wants $16M for tiny Jane St. house". NY Daily News. Retrieved 2016-12-09.