Entrepreneurs pitch products at Walmart's Open Call
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Illustration: Gabriella Turrisi/Axios
The founder of a company making flavored intimate wipes will jockey for shelf space at Walmart today, joining hundreds of entrepreneurs at the retailer's 12th Open Call event. Another entrepreneur is touting liquid vitamins and another probiotics.
The big picture: Walmart's gathering gives small U.S. businesses a shot at landing a major retail deal, with 750 meetings scheduled with buyers from Walmart, Sam's Club and Walmart.com.
- Alisa Brady, founder of San Diego fragrance and beauty product company Sweetums, is one of about 600 entrepreneurs making their case at the two-day summit in Bentonville. Pitch meetings begin today.
- Walmart's planned $350 billion investment in U.S.-made, -grown or -assembled goods through 2030 is estimated to support 750,000 jobs.
State of play: The company kicked off the event Tuesday morning at its new Bentonville headquarters, welcoming entrepreneurs from 47 states, Washington, D.C., and Puerto Rico.
- Walmart executives gave tips for meetings and attendees were grounded in the Sam Walton ethos by grandson and Walmart board member Steuart Walton.
- "He believed in the good of capitalism, the power of it, the importance of it, the ability to create wealth, the ability to distribute wealth, the ability for the pie to grow," Steuart Walton said.
The initial push to buy and sell items made in the U.S. started 40 years ago with Sam Walton, said Walmart U.S. president and CEO John Furner.
Stunning stat: Of Walmart's annual purchase of goods, more than two-thirds are products made, sold or assembled in the U.S., Jason Fremstad, senior vice president of supplier development, said.
When Axios asked about pressure to source domestically due to tariffs, Fremstad said, "I think the environment's changed, but the environment changes every single year."
- "We want to make sure — no matter what's going on in the world — that we have products on the shelves in our stores and our clubs. … The closer we can get to our customers and members with manufacturing, the better."
Inside the room: "Yellowstone" star Cole Hauser shared with the audience his experience of getting the Free Rein coffee brand sold in the retailer.
- "When I first came here, I think it's two years ago … Free Rein was in its infancy, and I told you about it. You guys looked at me said: 'Well, come back when it's ready,'" he said.
- "And so I did … we've now, you know, started this kind of amazing relationship."
The bottom line: Regardless of how the product pitch meeting goes, Hauser encouraged entrepreneurs to keep trying.
- "Remember to just keep kicking ass. … Meet as many people as you can, build relationships and stay positive and have a good time," he said.