Pret & Itsu Founder: How I Built TWO Billion Dollar Brands At The Same Time!: Julian Metcalfe | E173
TL;DR
- Julian Metcalfe built two billion-dollar brands, Pret A Manger and Itsu, by focusing on quality, transparency, and changing how people eat
- His parents' influence shaped his values around affection, self-esteem, and the importance of creating meaningful connections in business
- The key to Pret's success was identifying and delivering a specific 'specialness' that competitors couldn't replicate in the fast food market
- Julian approached business leadership by staying true to core values while building teams that understood and shared the company mission
- He faced significant challenges including the difficult decision to sell Pret and later discovering he had a daughter, both transformative life events
- His happiness recipe combines purposeful work, meaningful relationships, and continuous personal growth rather than money-driven goals
Key Moments
Episode Recap
Julian Metcalfe's journey to building two billion-dollar brands reveals a deeply personal approach to entrepreneurship rooted in early childhood influences. Growing up, his parents instilled in him values around transparency and emotional connection that would later define his business philosophy. He recalls how affection and self-esteem were cultivated through genuine human interaction, lessons he would apply when creating company cultures at Pret and later Itsu.
When Julian started Pret A Manger, he wasn't primarily motivated by money but rather by a mission to revolutionize the fast food industry. He identified what he calls the 'specialness' of Pret, a quality that went beyond just serving food. It was about the experience, the people, and the intentionality behind every decision. This focus on differentiation allowed Pret to stand out in a crowded market and became the foundation for a multi-billion dollar brand.
His approach to running businesses centered on maintaining core values while empowering teams to understand the deeper mission. Rather than imposing strict corporate hierarchies, Julian built organizations where people felt connected to something larger than themselves. This culture-first approach became his competitive advantage.
The episode explores the complexities of Julian's career, including the challenging decision to sell Pret. While this was a significant milestone, it wasn't the end of his entrepreneurial journey. He went on to launch Itsu, proving his ability to build exceptional brands multiple times over. During this period, he also discovered a profoundly personal truth: he had a daughter he hadn't previously known about. This revelation shifted his perspective on what truly matters in life.
Julian discusses his fears openly, revealing that beneath the exterior of a successful entrepreneur lies someone grappling with fundamental human concerns about legacy, relationships, and meaning. Rather than viewing fear as weakness, he frames it as a compass pointing toward what matters most.
His happiness recipe extends far beyond financial success. He emphasizes the importance of meaningful work, authentic relationships, continuous learning, and personal growth. This philosophy has guided both his business decisions and personal life choices. Throughout the conversation, Julian demonstrates that building billion-dollar brands isn't primarily about chasing money but about creating something meaningful that resonates with people. His story inspires the notion that entrepreneurial success, when done right, intertwines with personal fulfillment and positive impact on how people live their lives.
Notable Quotes
“I was on a mission to change the way we think about eating out and how we eat from a very young age”
“Transparency isn't just good business, it's how you build real human connection”
“The specialness of Pret wasn't just about the food, it was about the experience and the people behind it”
“Fear is a compass pointing toward what truly matters most in life”
“Real happiness comes from meaningful work, genuine relationships, and continuous growth, not from chasing money”
