Behind the Seams: How Old National Bank Helps Fashion Brand Wantable Succeed

What does it take to be a “serial company founder?” Resilience, vision, and, according to Jalem Getz, President and CEO of Wantable, a great banking relationship. That’s exactly what he has enjoyed throughout his three-decade affiliation with Old National Bank and its predecessors.

Delivering personalized style

As the third company Getz has founded, Wantable takes a traditional online retail apparel model and enhances it with personal styling. While it has matured and accelerated since the company launched in 2012, at its foundation, it remains the same as a “try before you buy” digital retail experience. Customers share personal preferences and size information, which Wantable captures and runs through its algorithms to assist personal stylists in selecting seven items that are sent to the client to try on in the comfort of their own home, keeping what they want and returning the rest.

“We've taken that traditional hands-on, high-touch model from brick-and-mortar stores and moved into the client’s living room,” he says. “Wantable is a curator of incredible products and a matchmaker in selecting items customers otherwise didn't know existed and ideally falling in love,” he explains.

Getz’ first company, Halloween Express, was a seasonal retail company designed to take advantage of the burgeoning internet almost 30 years ago. “Our foundation was bringing an assortment together for the customer that would delight them when they walked through our digital doors,” he says. They rolled that into their second internet company, BuySeasons, in 1999.

By the time he introduced Wantable, Getz already had significant knowledge of his current core demographic of women ages 25 to 50, with his finger on the pulse of what resonates with them as a way to differentiate the company from mass retailers. Over time Wantable has built up a loyal clientele eager to refer their friends, creating a thriving business built on individual customer relationships.

Regardless of the category, Getz believes a successful business model relies on this foundation, which is created from a compelling product paired with an experience that provides value—much as he’s found in his time with Old National Bank.

Banking in style

Getz was a legacy customer from Park Bank, which was acquired by First Midwest and eventually Old National. While a new name might otherwise present a pivot point to shop around, Getz’ loyalty never wavered. “Like any entrepreneur, from my first day, I was looking for a bank that would—first of all—return my call, then be attentive to my needs and provide targeted advice and support,” he says.  As Wantable grew, he needed a partner who would introduce him to the complexities of more sophisticated banking products, such as lines of credit and currency exchange as the company conducted global commerce.

“If you look at our evolution, we're still at Old National because it has been able to handle us at every stage—from when we made less than $1 million to today where we have well over $100 million in revenue,” he says.

That can be rare, as a bank partner is often too large to provide critical personal service when a company first starts out, or the business might eventually reach a point where it outstrips a bank's capacity.

“We’ve been able to go from zero to the size that we are today, and Old National has been with us at every single point, in many cases with some of the same folks that started with us,” Getz says. “They are adept at understanding our needs and introducing areas of specialty within the bank that allow us to tap into expertise when it's needed as we aim toward our next milestone, which would be over $1 billion in revenue.”

For example, Old National recently helped Wantable access relevant products, like a seasonal revolving line of credit and a term note which allows it to buy equipment and invest in automation technology to scale the business through increased efficiency.

Finding the right financial fit

Just like Wantable aims to continually delight and satisfy its customer base, Getz feels the same dedication in its relationship with Old National Bank. “We have great relationships with the bank at multiple levels, and many of them have been retained from the predecessor days, which demonstrates Old National values the people who are there when they acquire banks,” he says. “Truthfully, when a bank merges with another bank, it's the perfect opportunity to shop the business, but it doesn’t seem necessary when you’re still talking to the same person you spoke with before and there are no new layers of bureaucracy.”

When considering a banking partner, Getz recommends businesses look ahead to the bank's capacity to provide services they might not need now but could in the future. They should also ensure the bank is focused on the fundamentals, like fraud control.

But the top piece of advice he offers is to pick a bank that is interested in your business. And that might not be a giant bank, which may be focused on bigger fish and routinely send you to voicemail.

“Pick a bank that can give you all the expert advice you would get from a significantly larger bank, but that is interested in creating a personal relationship,” he says, adding that’s what he has found with Old National Bank. “The relationship is fantastic so why would we change it?”

Could your business benefit from a full suite of banking products, supported by personalized advice? Whether you need small business solutions or commercial banking, contact an Old National business banker today.