A long-time successful fashion accessories business with a truly world class product line including handbags, scarves, jewelry, and belts.
Two separate brands with separate product lines. One brand features high-quality genuine leather products and the other offers products made of vegan leather.
The quality of the products and design is truly exceptional. A publicly traded US fashion company extended an offer to acquire the business and its product portfolio a few years ago at a substantially higher revenue multiple.
The business has two retail stores, with the flagship store in WeHo and the other one in Venice. The products are also being sold in leading US department stores as well as internationally.
Most recently, the business went through a round of restructuring, reducing the number of employees, improving logistics, cutting tradeshow expenses by $240,000, etc. The intention was to adapt the promotional strategy and focus on developing online sales channels.
The business still has negligible online sales and virtually no presence on social media. A dedicated operator could greatly increase the bottom line, particularly since the buyers of the brand are mainly in the 20-35 age range and are likely to be responsive to the new strategy.