Sometimes, partnerships even rally or
save businesses. After six years of steady
growth, subscriptions to the meal-prep
company Blue Apron had dipped 24
percent over the same quarter last year.
Seeking to tweak its business model, last
summer the company launched strategic
partnerships with Costco and online
retailer Jet.com, who provided Blue Apron
with another distribution channel in major
metro areas like New York City. The
strategy must be working: by October,
Blue Apron shares had spiked 26 percent.
Partnerships in the spa industry are
also flourishing, as bold leaders stretch to
find new ways of thinking and turning
profit.
Ann Brown, owner of Saltability, said
her partnership with TouchAmerica Inc.
has grown a brand-new company between
them, called Himalayan Source. Saltability
is a leading global provider of warmers for
Himalayan salt stone massage, while
TouchAmerica makes high-end spa and
massage equipment. Their new joint
venture serves the spa industry’s needs for
all types of Himalayan salt products.
Himalayan Source combines Saltability’s
experience with Himalayan salt, as well as
their marketing and sales expertise, with
TouchAmerica’s manufacturing,
engineering and ergonomic know-how to
provide a full line of salt room equipment .
The partnership grew from an existing
friendship. Brown has known
TouchAmerica President Stewart Griffith
for more than 10 years, she said.
“I was getting overwhelmed with calls
and interest about salt walls and salt
concepts and Saltability primarily does
Himalayan salt stone massage,” Brown
said, “so I reached out to Stewart about
18 months ago, who is an engineer, about
us really just having trust and a handshake
relationship to work together and build the
concepts. I was already importing salt
from Pakistan so all I needed was the
smart know-h ow of Stewart to get this
started and he agreed.”
Through the new company,
TouchAmerica reached a new market, and
Saltability now better serves its customers.
Brown said the key is trust. “I think trust
is imperative and just knowing your
strengths. Stewart and I really have a great
balance in what we bring to the table for
success,” she said. They were able to
come to financial terms based on what
each considered fair, she said.
Although relatively new, the
partnership is working for both
companies. Not only is the new third
“When
businesses
share common
interests,
combining
energies can
yield greater
results than
either entity
could achieve
alone.”
Himalayan Source allows Saltability and
TouchAmerica to benefit from each other’s
strengths to capture a a new market.
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January/February 2019