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Kyle Cooke Reveals Loverboy's Dire Financial Issues: "I'm Actually Scared"
The Summer House cast member shared why he was "starting to lose hope" when it came to his beverage company.
Summer House viewers have watched over the years as Kyle Cooke has grown Loverboy into a successful company that sells hard teas, cocktails, spritzes, non-alcoholic teas, and merch. While the business appears to be thriving, when Amanda Batula talked to Kyle about starting her own venture, he revealed how stressed he was about Loverboy's finances.
On Summer House Season 8, Episode 12, Amanda, who runs Loverboy's creative, told Kyle she wanted to explore the idea of starting her own business while still remaining at the beverage company. Kyle didn't seem thrilled, revealing that Loverboy's recent financial status was a major concern.
Is Loverboy making money?
"For the last three years, we were running a profitable business," Kyle said in an interview during the episode, which aired on May 9. "We assumed we'd be profitable this year even when we grew our team and grew our expenses. But right now, we are losing money."
The episode flashed back to a recent conversation Kyle and Amanda had about the specific issues the company was facing.
"Nick just filled me in that we lost $1.5 million the first six months of this year," Kyle said. "If we can't turn a profit in August, then I'm starting to lose hope that we'll do it in the colder months. This is the first time I'm actually scared."
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In an episode interview, Kyle explained more about why he felt the timing was challenging for Amanda to start her own venture.
"We've worked so hard, we've gotten it so far, and we're now being really tested," he said. "And it's at this moment that Amanda seemingly wants to bail?"
Did Amanda Batula leave Loverboy?
During a recent interview with The Daily Dish, Amanda revealed she and Kyle decided to have her "take a step back" from Loverboy.
"I'm just not as involved in the day-to-day. So we can sort of heal our relationship," she explained. "But I'm still very much so a part of it — all the decision-making and the big aspects of the brand."
While Amanda hasn't shared any updates on if she plans to explore her own business, she revealed on Summer House Season 8, Episode 10 that she wants to start a swimsuit brand.
"When I was younger, I had big dreams of being a fashion designer," she explained in an interview. "In high school, I took a 'fashion design class,' but my inability to sew shut down those hopes and dreams. But I can design, and I know what I like, so it just seems like it's time for me to maybe create my own thing."
Press play on the video above to watch the Summer House Season 8 After Show.
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