Actively Black Founder Lanny Smith on Building a Black-Owned Athleisure Brand

From Athlete to Entrepreneur

• 🏀 Lanny Smith, founder of Actively Black, shares his journey from a promising NBA career to entrepreneurship after a career-ending knee injury.
• 💡 This forced transition led him to entrepreneurship, driven by a passion for his community and a desire to create a brand that celebrates black culture and history.
• 🚀 Actively Black launched on Black Friday 2020 and has experienced significant growth since its inception.

The Vision Behind Actively Black

• 🎯 Smith aims to build the "black Nike", a premium athleisure wear brand that competes with established giants like Nike and Lululemon.
• 💰 The brand is purpose-driven, focusing not only on representation but also on ownership and giving back to the black community.
• 🏆 A significant moment for the brand was outfitting Team Nigeria for the Summer Olympics, with athletes wearing Actively Black alongside Nike and Adidas.

Purposeful Product: The 100% Cotton Line

• 🌱 Actively Black has launched a new 100% cotton line, sourcing cotton directly from black farmers.
• ⛓️ This initiative addresses the painful history of cotton production in America and aims to reclaim ownership and create wealth within the black community.
• 📈 Black farmers have lost a significant portion of their land, and this line supports them by paying above market prices for cotton and labor.
• 🌍 With black Americans spending $30 billion annually on apparel, shifting even a small percentage to black-owned supply chains can have a substantial economic impact.

Navigating Business Challenges

• ⚠️ Tariffs have created bottlenecks for businesses relying on overseas manufacturing, significantly impacting smaller companies like Actively Black.
• 🇺🇸 The pivot to an American-made, 100% cotton line was partly a response to these tariffs, creating a more sustainable and purpose-driven supply chain.
• 🤝 Despite challenges, the brand's loyal customer base, or "tribe," has been crucial for its survival and growth.

Advice for Aspiring Entrepreneurs

• 🚫 Smith advises aspiring clothing business owners to be prepared for immense challenges, stating, "Don't do it," to filter out those not truly committed.
• 📈 The retail space is oversaturated, and success requires creating a brand with lasting impact that generates genuine demand, not just a great design.
• 🗣️ He emphasizes the importance of building an audience first, then creating products that serve that audience's needs and desires, citing Actively Black's 70% return customer rate.

Chasing Dreams with Undeniable Belief

• 💪 Pursuing entrepreneurial dreams requires an undeniable belief and faith, as success is often preceded by significant loss and sacrifice.
• 🚶 The journey is often lonely, and one cannot expect others to believe in the dream for them; it must be an obsession.
• ⚡ Smith stresses that a powerful work ethic must match the conviction in one's dream, comparing it to the dedication required for athletes pursuing professional careers.
• 🔄 This mindset applies broadly to life, enabling individuals to overcome setbacks, whether in entrepreneurship, career changes, or personal challenges like job displacement due to AI.