Tom Austin who once made the streetwear brand AND1 to an insurmountable height also unknowingly led to the brand’s downfall, sales-wise. He is now the subject of Netflix’s Untold: The Rise and Fall of AND1. Here, we attempt to bring you details regarding his net worth, wife, age, and current residence.
So, learn more as this article proceeds.
Meet Tom Austin, The AND1 Co-Founder On Netflix’s Untold: The Rise and Fall of AND1
Tom Austin, one of the co-founders of AND1 is the subject of Netflix’s Untold: The Rise and Fall of AND1. The show takes viewers through an engrossing account of how a successful streetball-inspired company thrived and later on its market share plunged unexpectedly. Growing up, he felt timid but soon discovered that basketball, which is both his true passion and inherently individualized team activity, allows him to connect with others without experiencing significant difficulties.
Therefore, Tom readily accepted Seth Berger’s proposal to launch a basketball-focused company with him in 1993. Seth was his classmate at Wharton and a fellow athlete.
“I had no professional skills [at the time],” Tom said on the show. “I had only held very low jobs. You know, dishwasher, busboy. So when I heard [Seth and Jay Coen Gilbert] were working on a basketball startup, that was like a lifeline for me, right? ‘Cause I just wanted to stay connected to the game, and I wanted to wear shorts to work.”
The truth is, though, that Tom immediately showed he was more than capable of working as a partner because his initiative and diligence helped establish AND1 through the trash-talking t-shirts. The two original co-founders were Seth Berger and Jay Coen Gilbert but things took a turn when Tom Austin was brought on board. The three people brainstormed the concept of creating a clothing line using catchphrases used on basketball courts.
Tom functioned as the company’s chief operating officer for two years, oversaw the creation of footwear for five years, and even Jay acknowledged that he was “the mind behind” the business. He also created the brand’s distinctive shoes which became his biggest contribution to the growth of the brand.
They made the decision to enter the sneaker market in order to compete with companies like Nike. However, things did not go how they hoped. In his NBA debut, Stephon Marbury wore their first shoe and injured his ankle after falling awkwardly. Austin took over the creation of AND1’s distinctive shoes after this error. His designs ultimately became very popular, even with NBA players. Vince Carter donned a pair of AND1 sneakers during his legendary dunk contest performance. Unfortunately for them, the All-Star forward soon entered into an endorsement deal with Nike.
But, the fate of AND1 took a turn no one had imagined.
“I ended up getting diagnosed with a digestive disorder,” Tom said on the show. He added, “I lost like 20-30 pounds… I just ended up a mess, physically and emotionally. For the first time in my life, it wasn’t fun.” He left AND1 in 2003, not realizing that his departure alone would result in a $130 million drop in sales and a fundamental transformation of the working environment.
Tom Austin appears to have spent a few years solely concentrating on himself and his general well-being after leaving AND1 before opting to continue his education.
As for the original co-founders, Seth is working as a Managing Director at Sixers Innovation Lab. Jay is the CEO of Imperative 21 and co-founder of B Lab (B Corporation movement). In 2006, he founded B Lab, which certifies businesses known as B Corps that are driving systemic improvements in the economy. He has also contributed to Forbes in the past.
Tom Austin Career
After AND1 where Tom Austin worked from 1993 to 2003, he likely went on two years of hiatus taking care of his health.
Then, Tom joined the University of Pennsylvania to earn his Masters in Human Development/Education. He graduated in 2008. Moreover, in 2008, he joined the University of Southern California where he joined the School of Cinematic Arts and studied Fine Arts, Writing, Directing, and Editing. He graduated in 2011.
Furthermore, he had already earned his BSE in Finance from The Wharton School in 1993 and completed his high school at Bishop Guertin High School in 1989.
In June 2011, Tom joined as Managing Partner at Sumo Ant. He served the company for eight years till 2019.
In 2022, Tom has been working at Talytica as an advisor and Masterchats as CEO & Co-founder.
Moreover, his LinkedIn reveals that he also volunteered at Mucker Capital, StartEngine, and Make In LA as a mentor and advisor to start-ups.
How Much Is Tom Austin Net Worth?
At the time of the publishment of this article in late August of 2022, Tom Austin’s net worth exceeds $15 million.
Tom Austin Wife
Although Tom Austin had an extensive yet prolific career, his personal life is away from the public eye. However, on his blog, he mentioned that he has a wife with whom he shares his two daughters.
Tom Austin Age
November 1971 marked the year, Tom Austin was born. Hence, he is 50 years old in 2022.
Where Is Tom Austin From?
Tom Austin reportedly came from New England however his family moved around a couple of times. He is currently residing in Los Angeles, California. Other sources on the web also reveal that he is from Nashua, New Hampshire.
Is Tom Austin On Instagram And Facebook?
No, Tom Austin doesn’t seem to be on Instagram or Facebook. But, he is on Twitter (@TalyticaHR).