Ed Schmults
About
Ed Schmults is from Providence, Rhode Island, United States. Ed is currently Chief Executive Officer at Firelands Scientific, located in Cleveland, Ohio, United States. In Ed's previous role as a Member of the Advisory Board at First Insight, Inc., Ed worked in Waarendale, PA until Dec 2024. Prior to joining First Insight, Inc., Ed was a Chief Executive Officer at StateHouse Holdings and held the position of Chief Executive Officer at San Diego, California, United States. Prior to that, Ed was a Board of Directors at Vera Bradley, based in Fort Wayne, Indiana Area from Sep 2010 to Jun 2023. Ed started working as Chief Executive Officer at Urbn Leaf in San Diego, California, United States in Feb 2021. From Feb 2021 to Oct 2021, Ed was Chairman Of The Board at Calyx Peak Inc.. Prior to that, Ed was a CEO at Calyx Peak Companies, based in Foxborough (Foxboro), Massachusetts, United States from Oct 2018 to Jan 2021. Ed started working as Member of the Advisory Board at VStar Entertainment Group in Greater Minneapolis-St. Paul Area in Oct 2016.
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Ed Schmults's current jobs
Ed Schmults's past jobs
First Insight is the world’s leading provider of solutions that empower brands to significantly increase their new product success rate while minimizing the risk of new product failures. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Retailers, manufacturers and brands use the First Insight solution to design, select, price and market the most profitable new products for improved sales, margins and inventory turnover. Customers include some of world’s leading vertically integrated brands, sporting goods companies, department stores, mass merchant retailers and wholesalers.
Led this vertically integrated California cannabis company since its inception. Formed by the merger of Harborside, LoudPack and Urbn Leaf - three legacy California companies - with 13 retail stores (Harborside and Urbn Leaf), branded manufacturing, including Dime Bag, Fuzzies, King Pen, King Roll, Loudpack, Smokiez (under license) and Urbn Leaf and 200,000 sq/ft of greenhouse cultivation. Recruited key leadership roles to drive new culture rooted in efficiency, compliance and growth. The team reduced SG&A by 50%, added automation in key areas, upgraded technology infrastructure and restored StateHouse to growth and positive EBITDA.
Chair of Compensation Committee Member of Audit Committee
Calyx Peak Group (“CPG”) is a cannabis operating and management company committed to building strong state and national brands. CPG was formed in 2016 as a Delaware Limited Liability Company (LLC) based in Las Vegas, Nevada. CPG currently owns, manages, and operates multiple assets across California and Nevada, with cultivation and retail licenses in Massachusetts and Missouri. CPG is renowned for its cultivation prowess with multiple wins at the Emerald Cup - California's most prestigious cannabis competition.
VStar Entertainment Group is one of the nation’s leading multi-concept media and entertainment platforms and producer of family-friendly consumer shows and events, with an extensive background promoting more than 36,000 performances worldwide for more than 30 years. VStar Entertainment Group was founded in 2015 following an acquisition of VEE Corporation, one of the most experienced and respected names in family-friendly entertainment, and Blue Star Media, a leader in event production and promotion. VStar Entertainment Group also provides turn-key, in-house solutions for agencies, brands, corporations and marketing experts serving the event, sports and experiential industries. The company was purchased by Cirque du Soleil in July 2018.
Hired by Private Equity firm to reinvigorate this 34 year-old military and consumer brand faced with pending conclusion of a major military contract. Developed and launched industry first mass customized apparel experience on www.wildthingsgear.com as key competitive advantage in an industry characterized by many similar competitors. • Led marketing team to refine brand story. Vetted new logo via new predictive analytics company in 2009 to gauge consumer reaction in 48 hours. • Upgraded product designs and color story to meet competitive environment. Pushed expansion of military product line into new categories to reduce reliance on extreme cold weather products. • Implemented new ERP system for finance, accounting, inventory and production. • Negotiated new licensing agreement with W.L. Gore for military market. New Gore waterproof/breathable and fire retardant products hit the market in 2013/14. • Worked with Gore to win selection to US Army Soldier Enhancement Project for Low Loft Fire Retardant Jacket. Potential opportunity size ~ $200MM. • Drove expansion into international military markets as a means to diversify away from US Military spending. Opened up manufacturing in Jordan. Sold to Australia, Canada, Hong Kong, Japan, Jordan, Poland, Russia, UAE and United Kingdom. • Gross Margins increased by 1000 bp over five years through more aggressive pricing, less discounting and changing product and channel mix. • Launched first in industry mass customization configurator in 2012 – first scalable customized process for technical apparel via wildthingsgear.com website. Customized products immediately went to 30% of total ecommerce sales and ecommerce jumped 230% in 2012 holiday season. • Restructured company to maintain viability in the face of significant revenue declines due to Sequestration in 2013 and the expiration of major US Army contract. • Signed licensing agreement with Itochu to expand consumer product sales first in Japan and then across Asia
Member of Audit Committee and Governance Committee