Michael Preysman turned heads in 2011 when he launched pioneering DTC apparel brand Everlane. With his latest venture — Magna, a brand of sports wellness powders infused with magnesium — he has once again captured the attention of many, particularly those in the beverage industry.
In 2022, Michael stepped down as Everlane CEO and took a new role as the company’s executive chair and climate lead. After handing over the day-to-day responsibilities of running Everlane, whose 2023 revenues are pegged to be north of $200 million, Michael focused on Magna, which debuted last month.
Leading with the tagline “for those who play the long game,” Magna markets hydration powders that are made with three forms of magnesium along with electrolytes. The company, which developed the products in partnership with doctors and athletes, are promoted as providing greater focus, energy and recovery.
Magna comes in four flavors — lemon lime, tea lemonade, watermelon lime, and peach mango — and is sold direct-to-consumer via its website, where a box of 30 sachets sells for $55 or $45 by subscription.
In this episode, Michael spoke about how his personal interest in magnesium spurred the development of Magna, how he leaned into his skill set to create the brand, lessons from building Everlane that he is applying to the new company and the surprises and challenges that have come during his second stint at entrepreneurship.
In this Episode
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0:35: Michael Preysman, Founder, Everlane & Magna — Michael and Taste Radio editor Ray Latif chat about their respective philosophies on facial hair, whether the entrepreneur wears his own brand and why 1/11/11 is an important day in his life. Michael also discusses the origins of Magna and why he chose to create a beverage powder versus an RTD, creating authentic relationships with customers, his perspective on differentiation for both Everlane and Magna and why the latter’s packaging draws inspiration from a cigarette brand. He also talks about content creation and the value of people in advertising, how he thinks about and implements a customer service strategy, why co-packing is trickier than he anticipated and how to identify and work with mentors. |
