After a debilitating injury that left her with chronic pain, WTHN Founder & CEO Michelle Larivee turned to acupuncture and traditional Chinese medicines and found they provided great benefits for her. It was so impactful on her life that after 15 years of working in healthcare at the investment banking and private equity level, she decided it was time to create her own venture, aimed at providing these health resources in a way that was approachable and easily understandable to people. In this episode we discuss Michelle's journey, and why she felt a business like WTHN was so desperately needed now more than ever.
Welcome to the The Voice of Retail , I’m your host Michael LeBlanc, and this podcast is brought to you in conjunction with Retail Council of Canada
After a debilitating injury that left her with chronic pain, WTHN Founder & CEO Michelle Larivee turned to acupuncture and traditional Chinese medicines and found they provided great benefits for her. It was so impactful on her life that after 15 years of working in healthcare at the investment banking and private equity level, she decided it was time to create her own venture, aimed at providing these health resources in a way that was approachable and easily understandable to people.
“….So for us, it's, it's that approachability in every sense of the word, you know, whether that's herbal formulas that come in a tablet form, so it's as easy as possible for a consumer to take it. You know, names that make a routine seem like less of a chore, because they're fun, you know, on our studio side of things are and then I guess, also, you know, really important as the subscription element as well, you know, knowing that this is really a routine and a lifestyle that you need to commit to. So how can we make it easy to deliver that kind of herbal healing?”
In this episode we discuss Michelle's journey, and why she felt a business like WTHN was so desperately needed now more than ever.
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Michael LeBlanc
Michelle, welcome to The Voice of Retail podcast. How you doing this morning?
Michelle Larivee
Hello, I'm doing great. Thanks for having me.
Michael LeBlanc
Well, thanks for joining me. I'm excited to learn more about you and your background and the company you've co-founded and what you're trying to accomplish it. You know, let's jump right in. And tell us a bit about your background, looking at your background, more international relations and foreign policy work. But clearly, there's an intersection here with a passion for a product line. So, tell us all about it.
Michelle Larivee
Yeah, absolutely. I am the co-founder and CEO of WTHN. And we are the first modern brand, with omni channel services and products for holistic healing rooted in traditional Chinese medicine. So, we have retail acupuncture studios and clean wellness boutiques in Manhattan. And we also have our own line of acupressure products, as well as organic herbal supplements that are all deeply rooted in both the history and wisdom of Chinese medicine, as well as the science that has, research that's been driving the traditional use of the medicine.
Michael LeBlanc
So, how did you come to be involved in this kind of startup? Or this kind of enterprise? Is that something that connected with you personally? Are, you have a co- founder, who looks like they have a background in in wellness, so tell us about that?
Michelle Larivee
Sure. So, I would say it's a little bit of two things. One, is my background has always been in the healthcare industry professionally, initially, and investment banking, and then private equity and strategy and innovation consulting. And through that time, over the past 15 years, I've worked across the healthcare landscape. From insurance companies, to pharmaceutical companies, to hospitals, and academic medical centers. And, you know, have always felt really passionately that health is something that's deeply personal, and that touches every single person in this country.
So you know, anyway that I can play a part in making that system more accessible, work better. You know, it's always been really motivating for me knowing. You know, knowing the intangible impact that it can have on an individual's daily life. And, you know, through my time in the industry, have really noticed some broad shifts happening, and one in particular is toward preventative care.
And, you know, this, this real ability to thrive both emotionally and physically through taking better care of yourself first, instead of just, you know, letting, I think healthcare in the U.S. today, and I think this is pretty unique to the U.S. is, it's really more of a last resort type of thing. And, and so, you know, I really experienced that shift firsthand, through the work that I was doing. Consumers are more empowered. They're more, you know, knowledge driven. They really kind of are starting to see the benefit of taking care of themselves, to keep themselves out of our broken healthcare system.
So that's my background and something that, you know, I've always been really passionate about, and I would say, underlies the fundamentals of what we offer at WTHN, which really is holistic healing and preventative care. But the real inspiration, and what makes me excited every day about what we're doing it within, is through my own health transformation.
So about five years ago, I had a ski accident, ended up with dislocated vertebrae in my neck and a fracture in my back, and was really left in a situation of chronic pain. And I went through all of you know, what you can imagine. But physical therapy and muscle relaxers and you know, various types of steroids and shots and interventions, and you know, was really just consistently in chronic pain. Until at some point, my doctor suggested trying acupuncture.
And at the time, I really knew nothing about it. But of course, when faced with chronic pain, was willing to try anything.
Michael LeBlanc
Sure.
Michelle Larivee
And so, the pain relief was almost immediate, which was really exciting. But, as I was going regularly for acupuncture, I started to notice all sorts of other, I call them side benefits instead of side effects, in the sense that I was sleeping much better. I was feeling less stressed. I began incorporating Chinese herbs and cupping, you know, into my routine. And then you know, a couple years down the road, acupuncture and herbal medicine were really able to help me get pregnant easily and to have healthy pregnancies bounce back and recover much more quickly than I would have otherwise anticipated. And so, you know, in reflecting on all this, I was just fundamentally feeling transformed.
You know, not only did I have two healthy children, but you know, I was much less stressed. I was, you know, much more focused on what mattered. I was feeling more productive. I had more energy. You know, I just really felt like I had control of my health. And as a result of having control of my health, I felt in much more control of my life.
So, I would say, from there kind of two things happened, you know, one my own experience as a consumer. I, you know, love Drybar, and SoulCycle, and Equinox, and kind of all these other amazing modern wellness concepts that we have in New York. And I found that my personal experience with Chinese medicine was very different. It was expensive, it was, you know, hard to get an appointment. I had lots of questions about the different supplements and herbs that were part of the routine. But you know, it wasn't always easy to get an answer, or to really understand, you know, the ingredients that were being used. That that on one hand was frustrating. And then at the same time, because I had experienced such a transformation and my health, I, you know, became the biggest advocate and would tell literally, everyone, I know, you've got to try.
Michael LeBlanc
So you knew there was a, you knew there was a there there, but you kind of felt like there's an opportunity slash shortcoming in that you didn't see that consistency, reliability or dependability, brought together right?
Michelle Larivee
Yep, exactly. It was really about approachability. So, you know, lots of interest from people that I would, you know, tell that I thought this could be a solution for them. But you know, how do I get started? How do I know that I can trust what I'm doing? And so for us, it's all about how do we become that modern source of trust? And how do we really educate our consumers to know you know, Eastern medicine has very different philosophies than Western medicine. And so just, you know, being able to educate someone on how to get started and how to really integrate it into their lifestyle?
Michael LeBlanc
Well, it's a fascinating story, because I often find this intersection of the personal and the professional comes together in founders such as yourself and your, your articulating that that journey
Talk about it a little bit before I get to the kind of two starts and one stop. Talk a little bit about how you go to market. And you've talked about stores and distribution. I think I saw your product at Showfields in New York.
Michelle Larivee
Yep.
Michael LeBlanc
this time last year. Right, right. Because I thought what wonderful packaging. I was drawn right to it, congratulations.
Michelle Larivee
That's awesome. Thank you
Michael LeBlanc
It really did draw me right to it. This was like back in, when was, January, I was in for an NRF. And I was checking out Showfields and wandering around. And I got to know Tals V and your product stood out to me in a lot of big sea of products, right? And first of all, it was the creativity and the fun around it. And then secondly, the packaging.
So, are you direct consumer model primarily? Like tell us about how you go to market for a minute or two. Is it a subscription model? Like what, how do you envision all that stuff?
Michelle Larivee
Yeah, absolutely. Um, so you know, our, our model is really unique. And that we started with, you know, both our retail acupuncture services and the direct-to-consumer business. We actually launched the direct-to-consumer side of the business about six months after we opened our first acupuncture studio in Manhattan.
And, you know, for us, we really see that link between the two, in terms of, you know, differentiating us but also, you know, the knowledge base that we have at our acupuncture studio with 18 licensed acupuncturist and herbalist on our team that are able to help inform, you know, the products that we launched and to really provide the education that our consumers desire.
And then from a product standpoint, you know, what we, what we're really seeking to do is be able to meet the health needs of our clients. I would say, you know, really important to note that we are very mission driven and very passionate. Like our purpose for existing is helping our clients and customers thrive both mentally and physically. We take that that to heart in terms of how do we create unique products? How do we ensure that we have quality of products? In terms of where we source our ingredients from the levels. We have thing that we do the consistency Yep.
And then I think, again, we're not reinventing Chinese medicine, we're just kind of really trying to make it approachable and accessible. So, for us, it's that approachability in every sense of the word. You know, whether that's herbal formulas that come in a tablet form, so it's as easy as possible for a consumer to take it. You know, names that make a routine seem like less of a chore, because they're fun.
You know, on our studio side of things are and then I guess, also, you know, really important is the subscription element as well. You know, knowing that this is really a routine and a lifestyle that you need to commit to. So how can we make it easy to deliver that kind of herbal healing at home as well?
Michael LeBlanc
Well, it's certainly a concept, right for the time for a whole bunch of, for a whole bunch of reason. I think many of us are thinking way more about our health than we might have in the before time, pre COVID.
But let's talk about two these two starts and one stop idea. So, this is your advice to yourself or advice to the listeners, advice to other retailers, people who have brands. But two things they should start doing in 2021. And one thing they might want to leave behind what are your thoughts on that?
Michelle Larivee
Yeah, and I love this question. So, I would say, if we've learned anything in the past year, that it's time to stop living in the past with the old sales and same types of products, promotions, things that resonated pre COVID don't make it relevant now. I think we've really gone through a fundamental shift in our society. Whether it's, you know, day to day behavior, and for us, you know, particularly as it relates to health.
You know, a lot of the surveys that we've done of our own consumer base of late shows that everybody's had a shift in their priorities as it relates to health. And really, you know, staying healthy and thinking with this preventative and proactive mindset that I described, that we've, you know, always been really intertwined with, that's how our clients are starting to think even more so than before.
So, you know, I think, if you know, to survive this, the bottom line is really about adaption, and trying to make some changes. And with that, in mind, what I think are really critical in terms of starting to do is real listening with your customers. So, you have to go deep, you have to really understand how 2020 and COVID and the social changes that have happened and the political changes, how have those affected your customers? Because nobody is the same as they were when 2020 started. And so, you know, you have to know where they are and how to meet them now.
And I think related to that, it's all about innovation, and how do you meet your customers where you are. So, start thinking about your offerings differently. I know for us, you know, kind of a quick shift that we made that really paid off was when our acupuncture studio closed, we really accelerated the launch of a new product. Which is an acupressure mat, that could, you know, in a way, stand in for the acupuncture, as well as reach, you know, a much larger base than New York, and provide stress relief and pain relief at a time when it was really needed most. And that came through, you know, not just focusing on the products that we had before. And also hearing from our customers, what were the health challenges that they were most faced with. And us trying to really figure out how could we, how could we meet them there?
Michael LeBlanc
Right on right on? Well, you know, you remind me of an interview I did with the global strategist Roger Martin. And he described consumer behaviors as decaying assets on the balance sheet. In other words, things people used to do from a behavioral perspective are just not what they're doing today.
Michelle Larivee
Mm hmm. Absolutely.
Michael LeBlanc
Okay, so what's your what's your one stop? That was great. What's your one stop?
Michelle Larivee
Awesome. Well, I mean, I think my stop is just really stop living in the past. Stop, you know, with the same promotions on the same products and like, start to think forward and start to think differently.
Michael LeBlanc
Fantastic. Okay, last question. Bonus Question. What are you doing on the virtual stage of Commerce Next? Yeah,
Michelle Larivee
I'm really excited about our session. We've tried to bring a bit of a flavor of you know, what we do at WTHN to the session. So, you know, we will have a live acupressure demonstration, which will hopefully give people some of the relief that they need. And then you know, we'll be sharing more about Chinese medicine. What it's good for. How it can be used. You know, the inspiration behind what we're doing at WTHN. And you know where we're headed next and how we can really both be there for people that need healing now more than ever. And how we're also thinking about continuing to grow and differentiate ourselves.
Michael LeBlanc
Well, I'm looking forward to your session. it's, you know, look forward to that kind of fresh thinking about new ideas about going to market and of course, the product itself. Everyone could use a little stress relief these days for a whole variety of reasons. So, looking forward to seeing you on the virtual stage. Congratulations on your success so far. I wish you much continued success. And thanks for being my guest on The Voice of Retail podcast.
Michelle Larivee
Awesome. Thanks for having me. Have a great day.