|Adam Nicholas Pritzker|
July 17, 1984|
San Francisco, California, U.S.
|Residence||Los Angeles, California, U.S.|
|Alma mater||Columbia University|
|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, and co-founder chairman of General Assembly, a private school for professional development. He is a member of the Pritzker family, a very wealthy family that has owned the Hyatt hotel chain, the Marmon Group, and several other large businesses.
Early Life and Family
Pritzker attended Columbia University and graduated in 2007 with a B.A. in anthropology. He is the grandson of Jay Pritzker, who created the Hyatt hotel chain. His father is John Pritzker, an American billionaire and investor in hotels. His relatives include 11 billionaires.
Pritzker co-founded General Assembly in January 2011 with Jake Schwartz, Brad Hargreaves, and Matt Brimer. Pritzker and his partners started the company as a New York coworking space that offered practical classes on technology, design and entrepreneurship. The 20,000 square foot space was modeled after a college campus, according to Pritzker. He served as the chief creative officer, and helped its expansion to eight other locations globally. He was named to the Inc. (magazine) 30 under 30 list, and the Forbes magazine 30 under 30 list for his work at General Assembly. He left his day-to-day job at the business in 2013 but remained its chairman.
Prtizker started Assembled Brands in 2012, intending to create a consumer goods and hospitality conglomerate. As a holding company, Assembled Brands has $200 million under management, with investors including Pritzker himself and other Pritzker family members. 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.
Pritzker wrote a pamphlet describing a "100-year philosophy" for Assembled Brands. 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 . He also provides start up capital.
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. 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.
In October 2017, Pritzker partnered with Jeffrey Sachs, a development economist at Columbia University, and Daniel Squadron, a former New York state senator, to found Future Now. The new group's mission is to promote a set of national policy priorities it terms "America's Goals 2030", and to do so by funding state-level political candidates who are committed to working toward those goals. Based on the U.N.'s Sustainable Development Goals – a global list of priorities approved in 2015 by the 193 U.N. members – the organization's policy agenda encompasses seven priorities: good jobs; affordable health care; investing in children; empowering people over special interests; equal opportunity; sustainable infrastructure; and clean air, water, and energy.
With Pritzker initially the primary financial backer, Future Now gave about $160,000 to 10 Democratic candidates who ran in 2017 for the Virginia House of Delegates, the lower house of the Virginia state legislature. The group also hopes to fund Republican candidates who are willing to commit to its stated policy goals.
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- Pritzker, Adam (30 June 2016). "Op-Ed | How Small Brands Can Face Heavyweights". The Business of Fashion. Retrieved 2016-12-09.
- Cramer, Ruby (8 October 2017). "New Group Promises Real Money for Local Candidates Who Commit to Sweeping National Progressive Goals". BuzzFeed. buzzfeed.com. Retrieved 2017-11-22.
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- Squadron, Daniel; Pritzker, Adam; Sachs, Jeffrey D. (9 October 2017). "An Academic, an Entrepreneur, and a Former Politician's New Plan to Fix Our Broken Politics" (opinion). The Daily Beast. thedailybeast.com. Retrieved 2017-11-22.
- Silverman, Gary (8 October 2017). "Sachs looks to turn conservative tide in US state governments". Financial Times. ft.com. (subscription required). Retrieved 2017-11-22. "Mr Pritzker described himself as 'the primary backer' for Future Now, which will also solicit contributions from other sources."
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