US-Based Startup Launches Brand Exclusively for Cats

Category: Business

Listening

Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. necessity / nəˈsɛs ɪ ti / (n) – something that is needed
    Example:

    The students are done packing their necessities for the trip.


  2. customizable / ˈkʌs təˌmaɪz ə bəl / (adj) – able to be changed to match a user’s needs
    Example:

    Our company launched a new brand of customizable bags that can be used for different occasions.


  3. modify / ˈmɒd əˌfaɪ / (v) – to make changes in something while still keeping most of its original parts
    Example:

    I modified my bike so that my little brother could ride it more easily.


  4. overlook / ˌoʊ vərˈlʊk / (v) – to not pay attention to something
    Example:

    Sorry for my late reply! I overlooked your message.


  5. value / ˈvæl yu / (v) – to give an estimate of the monetary worth of something
    Example:

    This vintage painting is valued at $100 million.


Article

Read the text below.

A new startup called Cat Person has just launched an e-commerce site for essential cat products.


Cat Person offers a wide range of products exclusively for cats. These products include food, treats, toys, and other necessities. The startup sells its products directly through its website, where customers can subscribe and pick customizable plans for their needs.


Co-founders Lambert Wang and Jimmy Wu developed the startup with help and funding from Harry’s Labs. This branch of men’s product manufacturer Harry’s Inc. helps build startups and brands.


Wang and Wu said they came up with the idea because the US pet industry mostly caters to dogs’ needs. Wang observed that most cat products in the country are simply modified and adapted from dog products.


Wang and Wu are cat owners, and they felt that the cat community has been overlooked and undervalued in the pet industry.


The pair commissioned a survey of 1,000 cat owners in the US, and results showed that 71% of them are not satisfied with the products available in the market.  A majority also said they want healthier cat food selections. Because of this, Wang and Wu saw an opportunity to address the neglected cat market, which they value at $15 billion.


The launch of Cat Person was almost postponed because of the spread of the coronavirus. However, the co-founders decided to push through with it so that cat lovers will have a better experience during these trying times. Cat Person hopes to serve the community for many years.


Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

• How can Cat Person sustain its business even after the pandemic? Discuss.
• Do you think startups with specialized target markets/audiences like Cat Person will see long-term success? Why or why not?

Discussion B

• Do you think it is a good decision to launch a business during a global crisis? Explain.
• What types of businesses do you think will thrive even during a global crisis? Discuss.