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Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

bloomberg.com

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Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#21

Post by s1artibartfast »

h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

Are modern instant pots actually shoddy? I haven't looked at the legal documents but maybe the problem is making a product that is durable and doesn't need replacement resulting in no recurring sales.

Edit: I bought my instant pot after the buyout and it seems great and as if it will last another 10 or 20 years

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#22

Post by parker_mountain »

h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

> I wish I could still easily buy real borosillicate glassware.

Tons of it on amazon or with a quick google tbh. I buy a lot of Simax glass.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#24

Post by codersfocus »

test001only wrote: post #17

That's sad. When I last checked, insta pot was the only brand offering stainless steel vessel. Everybody else were offering only non-stick options, which I did not want to use.

Bestbuys store brand Insignia sells a steel one separately

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#25

Post by darkstar999 »

test001only wrote: post #17

That's sad. When I last checked, insta pot was the only brand offering stainless steel vessel. Everybody else were offering only non-stick options, which I did not want to use.

Check out the Breville pressure cookers. They use ceramic coating.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#26

Post by codersfocus »

vrosas wrote: post #14
Mistletoe wrote: post #5

I don’t see how they managed to mess this up. The entire world bought an Instant Pot a few years ago when they were all the rage on Reddit, etc. We bought my brother one for a gift.

Mine’s main purpose is dealing with dinner when I forgot to defrost something the night before. Besides that it collects dust. I know it can do more but I view it as a machine that does everything ok and nothing perfect.

It boils eggs perfectly (shells are always easy to pull off)

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#27

Post by silisili »

h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

You can. Oxo is borosilicate. They're pretty easy to find online or in store.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#28

Post by medler »

donavanm wrote: post #19
h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

> I wish I could still easily buy real borosillicate glassware. You can, in NA and ANZ at least. Last I looked “lock & lock” storage containers were still borosillicate instead of soda lime. ISTR that there are a few other similar and easy available options.

North Africa and Anterior New Zealand?

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#29

Post by fowl2 »

test001only wrote: post #17

That's sad. When I last checked, insta pot was the only brand offering stainless steel vessel. Everybody else were offering only non-stick options, which I did not want to use.

Phillips sell an optional stainless steel additional inner pot, or at least they did 2 years ago when I bought one.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#30

Post by s1artibartfast »

IvyMike wrote: post #13
Mistletoe wrote: post #5

I don’t see how they managed to mess this up. The entire world bought an Instant Pot a few years ago when they were all the rage on Reddit, etc. We bought my brother one for a gift.

Instant Pot was purchased in 2017 by Cornell Capital, a private equity company. I discovered this just now by when I thought "I bet some private equity company bought them and destroyed them in order to make short term profits" and then googled "instant pot private equity" to see if that was the case. It appears so. Gotta love those private equity companies. I'm no expert, but this article is a good overview of how t…

If you look at Google trends, searches for instant pot peaked after the 2017 buyout.

I think the examples of leveraged buyouts destroying brands is exaggerated. If it is a good brand, it will exist. It is just a chance of ownership from a capital firm to a lender.

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