Location: Carlstadt, NJ
Industry: Craft yarn
President and CEO
FOUNDING PRINCIPLES: A plaque in memory of Lion Brand Yarn Company’s founders hangs in the company’s lobby. It reads, “The ideals set forth by our parents for this company will ever remain the guiding spirit in our efforts to promote lasting friendship and fair dealing.”
Fun Fact: “Our company has followed the tradition that our great grandfather started of closing the business for all major Jewish holidays. We also close all our facilities for the Sabbath.”
ONBOARDING FAMILY: Lion Brand president and CEO David Blumenthal spends time thinking about passing the business on to the fifth generation as he mentors his son, daughter and their cousins. He says that all of them have a passion for the business, and work experience in their own right. “Family members know that working in the company is a huge responsibility, as well as a great opportunity,” says Blumenthal.
CULTURAL VALUES: “It’s a challenge today to find the proper balance between maintaining an entrepreneurial culture and having the structure necessary for effective communication,” says Blumenthal. But Lion Brand maintains an informal and family-oriented culture. In fact, four other families have had several generations working for Lion Brand. “We value that our associates feel so positively about our company that they bring in their own family members as well,” says Blumenthal.
LASTING LEGACY: “We would like to be recognized as an innovative, caring business enterprise,” says Blumenthal. To that end, Lion Brand stays true to Blumenthal’s father’s mantra: “You have to learn how to work with people and know that your word is your bond.” Lion Brand also believes strongly in community, and has donated millions of dollars to charities.