# How One Hat Maker Scaled to 100 Million Without a Factory

Page: https://stenobird.com/podcast/scaling-up-with-fexingo-how-small-businesses-become-mid-market-companies-7871589/how-one-hat-maker-scaled-to-100-million-without-a-factory
Text version: https://stenobird.com/podcast/scaling-up-with-fexingo-how-small-businesses-become-mid-market-companies-7871589/how-one-hat-maker-scaled-to-100-million-without-a-factory.md
Podcast: [Scaling Up with Fexingo: How Small Businesses Become Mid-Market Companies](https://stenobird.com/podcast/scaling-up-with-fexingo-how-small-businesses-become-mid-market-companies-7871589)
Published: 2026-06-25T16:04:54+00:00
Episode link: https://audio.fexingo.com/business/scaling-up/episode-0074.mp3
Audio file: https://audio.fexingo.com/business/scaling-up/episode-0074.mp3
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JSON: https://stenobird.com/v1/public/podcasts/scaling-up-with-fexingo-how-small-businesses-become-mid-market-companies-7871589/episodes/how-one-hat-maker-scaled-to-100-million-without-a-factory
Duration seconds: 471

## Resource

Episode 74 of Scaling Up with Fexingo tells the story of Goorin Bros., a 130-year-old hat brand that grew from a single San Francisco shop to over $100 million in revenue without ever owning a manufacturing plant. Lucas and Luna break down the company's asset-light playbook: licensing its name to a factory in exchange for exclusive distribution rights, then building a cult following through storytelling and vintage-inspired designs. They walk through the key inflection point when fourth-generation owner Ben Goorin decided to outsource production while keeping design and retail in-house. The episode also covers how the brand navigated the shift from wholesale to direct-to-consumer, the economics of licensing versus vertical integration, and why owning fewer assets can sometimes mean owning more of the market. A practical look at scaling through partnerships rather than capital expenditure. #GoorinBros #HatMaking #ScalingUp #AssetLight #LicensingStrategy #DirectToConsumer #BusinessGrowth #Entrepreneurship #SmallBusiness #MidMarket #RetailStrategy #BrandBuilding #Manufacturing #Wholesale #FexingoBusiness #BusinessPodcast #Business #Scaling Keep every episode free: buymeacoffee.com/fexingo

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