Samuel Krost on the TRUTH About the Fyre Festival & Starting a Multimillion Dollar Fashion Brand

Samuel Krost is the founder of KROST, a mission-driven fashion brand now sold in Nordstrom, Bloomingdale’s, Saks, and around the world. In this episode, Samuel opens up about scaling his label into a multimillion-dollar business, the lessons he learned from getting caught inside the infamous Fyre Festival, and how his network and philanthropy have shaped the future of KROST. __________ Check out Sol Betesh on Momentum: https://www.youtube.com/watch?v=Wk8gNfNFXQc __________ SPONSORS: • Advanced Solar Solutions: Go Solar before December 31 to qualify for federal solar incentives! 347-455-8430 or https://advancedsolarny.com • Midwood Wine: our community’s #1 wine shop @ 1433 Coney Island Avenue (Avenue J & K). WhatsApp (718) 338-7054 • Kosher Media: the premiere advertising network across Jewish communities worldwide. https://koshermedia.com __________ ABOUT MOMENTUM: 🎙️ Momentum brings you the stories, advice, and wisdom of business visionaries, designed to inspire and guide you on your path to success. Be sure to subscribe on all platforms: YouTube: https://www.youtube.com/@TheMomentumPod Spotify: https://open.spotify.com/show/1jOPoArXfY3OU5uv4BpA3h?si=0311640b82154d1b Apple Podcasts: https://podcasts.apple.com/us/podcast/momentum/id1762657981 Instagram: http://instagram.com/momentumpodcast_ __________ GEAR (please use my affiliate links to make me rich!) • Cameras: https://amzn.to/3UuwW5o • Podcast Mics: https://amzn.to/3J5QWsv • Clip-on Mics: https://amzn.to/3H52iwo • Mic Stands: https://amzn.to/4kZj4uL • Lights: https://amzn.to/45lA5up • Tripods: https://amzn.to/4lHHQAI __________ (00:00) Coming up... (03:05) Growing up in a family of doctors (04:57) Living on a different path (05:34) The pre-college days (06:14) Bio, chem, burnout (07:17) Dropping out of pre-med (09:33) Switching to NYU Sports Management (10:53) Discovering a passion for fashion (11:55) Advanced Solar Solutions (13:06) Internship at Onia (15:59) Samuel's journey at Onia (17:21) Getting a call from Andrew Rosen: CEO of Helmut Lang (18:54) It's all about who you know (20:38) The student/work life grind (22:30) Working as much as possible while in college (25:24) Ja Rule calls with an opportunity (28:50) Building relationships with Bella/Gigi Hadid, Selena Gomez, and other celebrities (31:17) Fyre Media before Fyre Festival (34:06) Absorbing knowledge at Fyre (37:44) The Fyre Festival (42:24) Fyre Festival up in flames (46:55) The aftermath of the festival (49:33) Getting a call from the FBI (51:19) Bouncing back from an all-time-low point (53:07) An offer to replicate Fyre (54:30) 3rd guest joins the pod (55:10) Founding a fashion brand (57:01) Setting yourself apart / unfair advantages (58:41) COVID and social impact while launching KROST (59:51) Driven by DNA to give back (01:00:57) How Samuel runs his business (01:02:40) Collaborating with FILA (01:03:45) Kosher Media (01:04:33) Choosing the direction for Krost to go in (01:06:01) Momentum Moment - doubling down / leading his team (01:08:19) The brand evolving with Samuel (01:09:15) Principles for effectively leading a team (01:12:05) Where to find KROST apparel (01:12:49) Expanding into Paris (01:14:02) The key to Samuel's success (01:14:45) Advice for starting a fashion company (01:16:30) Follow your passion? Or chase the money? (01:19:27) The #1 characteristic of standout employees: work ethic (01:21:29) Life is about what you can do for others (01:23:42) Want to stand out? Master AI (01:25:37) Closing Remarks (01:26:28) Outro and 3 key takeaways