SkinnyDipped: Breezy and Val Griffith. The Flourishing Snack Company That Almost Failed - How I Built This Recap
Podcast: How I Built This
Published: 2025-12-29
Duration: 1 hr 24 min
Guests: Breezy Griffith, Val Griffith
Summary
SkinnyDipped founders Breezy and Val Griffith revolutionized the chocolate-covered almond by reducing sugar and chocolate, but nearly lost everything through manufacturing challenges and a disastrous Target order.
What Happened
Breezy Griffith's entrepreneurial journey began with several failed ventures in Miami and New York, including organic sorbets and a cupcake business. These early experiences, though unsuccessful, quietly built her skills for future endeavors. A family tragedy brought her back to Seattle, where she and her mother, Val Griffith, began exploring the snack industry, questioning the heavy sweetness in traditional chocolate-covered almonds.
The Griffifth duo's idea was to create a snack with less sugar and a thinner chocolate coating, leading to the birth of SkinnyDipped in 2013. They started small, hand-dipping almonds in a converted chicken coop, using their $25,000 life savings. Initial production challenges were daunting, including failed experiments with various coating techniques, but their persistence eventually paid off.
A pivotal moment came when Target offered them a significant order, but disaster struck when they discovered 40,000 pounds of rancid almonds. The team worked frantically to replace the almonds and meet the deadline, preventing the deal from collapsing. This close call underscored the risks of scaling too quickly without adequate infrastructure.
SkinnyDipped initially focused on growth over profitability, leading to gross margins in the teens. By 2022, they faced financial hurdles as funding dried up, forcing them to reassess their business model and improve margins. They had to find cost-effective ingredients and warehousing solutions, even pausing leadership salaries to make payroll.
Despite these setbacks, SkinnyDipped's dedication led to partnerships with figures like David Grutman and investment from 65 celebrity backers. By 2023, the company was generating over $100 million in annual sales. Breezy Griffith, now CEO, and Val Griffith, Head of Innovation, attribute their success to hard work, with a touch of luck.
Their story illustrates the importance of resilience and adaptability in entrepreneurship, particularly in the food industry where manufacturing is often the biggest hurdle. The Griffiths' journey from hand-dipped almonds to a major snack brand highlights how growth can sometimes mask underlying issues that need careful management.
Key Insights
- SkinnyDipped was founded in 2013 by Breezy and Val Griffith, starting with a $25,000 investment and hand-dipping almonds in a converted chicken coop.
- A major challenge for SkinnyDipped occurred when they received a large order from Target and discovered 40,000 pounds of rancid almonds, which they had to replace quickly to save the deal.
- By 2022, SkinnyDipped faced financial difficulties due to low gross margins, prompting a reassessment of their business model, including pausing leadership salaries to meet payroll.
- In 2023, SkinnyDipped achieved over $100 million in annual sales with support from 65 celebrity investors, showcasing their growth from a small startup to a major player in the snack industry.