Traditional ecommerce leaves women feeling overwhelmed and unsupported.
Shopping online can be a lonely, anxiety-inducing experience that leaves women worried about making the wrong choices and frustrated when they've wasted their time.
This problem is best illustrated by taking a look at a sample customer's experience, we'll call her Caroline:
Brass provides affordable, high-quality clothes for the working woman and a high-touch online shopping experience she cannot get anywhere else.
The Brass mission is to serve women. Since inception Brass has pioneered the concept of building a functional wardrobe, filled with affordable, machine washable, low maintenance pieces that do more than change a woman's morning—they save her time for the big moments in life.
Brass doesn't stop at exceptional, value-driven product. We are differentiated by our dynamic online community that gives women the online shopping experience they crave and deserve.
Our digital community The Brass Guild, is transforming ecommerce by making it an empowering, enjoyable, efficient and informed experience.
Let's take a look at Caroline's experience shopping with Brass:
Brass Clothing is a DTC womenswear brand + digital community.
We offer clothing, community and connection.
Our product assortment is a hyper-edited collection of machine washable, work-to-weekend staples. Over time we have developed heritage products that serve our customer's wardrobe. These easy-to-wear styles are our top selling products.
Our digital community is a rallying place for women in the workforce: a place to discover our exceptional product, make informed purchasing decisions, share experiences and dress with confidence.
Take a look at this recent exchange in the Guild:
- Erin shared that she was on the fence about a new top.
- She received 19 comments back within 2 hours from satisfied customers who love that top.
- They encouraged her to buy the top and shared sizing tips and fit advice which ensured Erin ordered the right size the first time.
23K+ women have Brass in their wardrobes.
- We've driven in over $5.2M+ in accumulated revenue.
- We've maintained 40% YoY growth with limited investment and a gross margin of 70%.
- Average return rate of 16%
Our key differentiator is our digital community, The Guild.
- The average annualized spend of each member was $1,073 in 2019.
- 84% of Guild members have placed 2 or more orders to date.
- 31% of Guild members have placed 10 or more orders to date.
- 48% of Guild members have purchased 10 or more items to date.
Impact of COVID-19.
Guild Customers have been more resilient than Non-Guild Customers during the 2020 COVID-19 period. They have generated:
- 27% of total revenue in February
- 41% of total revenue in March
- 47% of total revenue in April
Our Woman is a Force of Nature.
She is at the center of everything we do.
Some may say we're obsessed with her – and we are more than OK with that assessment. Here's why:
Our woman is quite literally making history.
Previous generations of women had to pretend that they did not have lives at home, did not have families to raise and care for. They were forced to keep their personal and professional spheres separate. Today's generation of women demand more. They are setting a new standard and empowering future generations so they never have to choose between the two.
Her routine looks like this:
She gets her kids ready for daycare and herself ready for her day job. A physician, she is looking for clothes that are wrinkle-resistant, machine washable and comfortable enough to get her through a 12-hour shift.
At the hospital she sees patients, attends a lecture, presents at a seminar in the afternoon. She deserves clothes that pair together effortlessly and make her look polished and feel confident.
She is full-throttle at work and at home, and our job at Brass is to make living life just a little easier.
Brass allows her to take the guesswork out of getting dressed, boosting her confidence so she can focus on things that really matter.
Growing our community will have an exponential impact on revenue.
Customers that join The Brass Guild spend 6x more than those who do not join The Guild.
Through hyper-targeted ad spend on Facebook, coupled with purposeful Guild-focused campaign initiatives, we will funnel women directly to The Guild.
The current climate gives us a 4-way advantage to execute this strategy:
- Cost effective CACs to drive traffic within the Facebook platform
- Brand-loyal customers that market Brass for us
- People spending more time on social media, wanting to experience connection
- Comfortable, value-driven, wear-now-wear-later clothing
$475B Market by 2022.
The ecommerce fashion industry generated $362B globally in 2019 and is projected to reach $475B by 2022.
In the US, the womenswear market for Brass’s product categories saw revenues of $100B in 2019.
This market includes both professional wear and lifestyle product categories. These two markets have effectively merged as a result of the COVID-19 pandemic, and it is likely to stay that way. Brass is primed to take advantage of this new “supermarket”, and our product philosophy has reflected this from day one.
Designed with real women in mind, and built to serve them every step of the way.
Through The Guild, we are redefining what it means to shop online. We have built the only community for ambitious and like-minded professional women to discover products, share ideas, and connect.
Several brands have tried to crack the code of polished and affordable workwear, but none sit at the intersection of price, quality, ease-of-care, and customer experience like Brass. Our product serves women from day to night, from work to weekend, with minimal fuss, maximum polish, machine-washability and a price tag that lets her dollars go farther.
Brass is uniquely positioned as a brand that offers both clothing + a suite of services that makes getting dressed and feeling confident a seamless, joy-filled, efficient experience. We actively focus our attention on consumers across the entire country, serving working women both within and between the coastal urban centers of New York, Washington D.C. and San Francisco.
Our competitors include M.M.Lafleur, ADAY, Modern Citizen, Ann Taylor and Theory.
Immediate Strategy: Grow Guild Membership
In Q3 and Q4 of 2020 we will invest a minimum of $220K into hyper-targeted digital advertising and campaign launches that will drive customers to The Guild to super-charge growth.
Longterm Vision - Creating a Proprietary Space for Brass
Through Series A funding, we will build-out a customized digital platform for working women, inspired by our Guild community. Think Goop.com tailor-made for the young professional woman.
- Inspired by our digital community, Brass will become so much more than a clothing brand.
- Brass will be the go-to online destination for working women navigating the workplace.
- We will capitalize on a broader assortment of revenue channels, such as brand partnerships, membership models and media content, creating opportunities for recurring revenue.
- Brass will offer her product, services and content that empower her in the workplace and allow her to live her life with confidence.
- Our platform will foster both digital and in-person networking opportunities, facilitating connections between like-minded, career-driven women.
We've Done a Lot with a Little
- Bootstrapped with 40% YoY growth
- Minimal investment to-date
- Brass customers have committed ~$150K in capital alongside this round
Katie Demo - CEO and Co-Founder
12 years of business and marketing experience, 8 years in ecommerce. Responsible for setting and executing strategic vision and revenue goals. Manages P&L, including optimizing for efficiency across all operating expenses. Oversees operations to ensure superior customer experience. Sets tone and company culture for a team of 5 full-time employees. Holds a Masters in Business Administration from the University of Massachusetts.
Jenny Rudin - CCO and Co-Founder
Designer and entrepreneur with 8 years of experience in the fashion industry. Sets Creative Direction for Brass, leads R&D and production, co-manages business development and strategic initiatives to drive growth. Bachelor of Fine Arts from Washington University in St. Louis.
Senior Leadership and Advisors
Jimmy Hugill - CFO
Senior finance executive with experience in strategic finance, M&A, team building and operational improvement. Successful in leading startups and private equity-backed growth organizations within E-Commerce, SaaS, and Financial Services. Led processes across multiple organizations for budgeting/forecasting, management reporting, data process automation, financial modeling, and operational strategy.
Ani Collum - Business and Strategy
Retail and consumer-focused expert, advisor, mentor with 20+ years experience working with startups to large DTC brands across all aspects of the business, including concept incubation, branding, marketing, growth projections, inventory mgmt, merchandising and operations. Industry speaker and frequent press contributor for commerce related trends and stories.
Greg Rudin - Finance and Strategy
Greg Rudin is a Principal at The Baupost Group, a Boston-based investment firm with approximately $30 billion in assets under management. Greg focuses primarily on investments in public equities and performing and non-performing debt. Prior to his time at Baupost, Greg was an Investment Analyst at Valinor Management, a long-short equity hedge fund in New York. Greg is a hands-on advisor with Brass helping specifically with company strategy, finance, and fundraising. Greg graduated from Emory University.