There are subscription services for clothes, shoes, accessories, makeup, and even tampons, so why not one for handbags? T...
Explore new investment opportunities:
View companies raising now
What customers want
At Ivory Clasp we deliver stylish handbags at a fraction of the cost of retail. We provide personalized style, direct to their door while maintaining the added element of surprise and delight each time a customer receives their bag. Fashion is a luxury to most and we strive to give our customers that experience of luxury for less.
Because of our unique partnerships with well known brands, we are able to provide our customers the experience of luxury product that is in-season and still marketed at full price but at the exclusive Ivory Clasp price of $49 a month. Retail value of the full price bags range from $79-$230 so this is an incredible value and service to the customer.
We have developed unique partnerships with many well known fashion brands allowing us to offer their handbags at our exclusive price. Partnering with us provides multiple benefits to the brands beyond simply a sale. Examples include:
Overwhelmingly, the number one reason brands look to partnering with us is that we are NOT a discount store that will not cheapen their brand.
We have our own in-house design team that creates handbags for 3 separate handbag lines called A.V.I. Collection, With 212 and Republic of Aces. Currently sold through their respective websites, these brands will soon be sold at multiple other retailers. We also move these brands through Ivory Clasp and, in fact, some of the most loved and requested handbags have come from our in-house team! Because of this we are able to design bags we know our customers will adore, and are able to hit fantastic margins as we do not have to pay the mark-up required when purchasing from outside brands.
We love to engage with our customers and encourage them to post their #ivoryclasp style. But it became so much more, and after watching this community of positive, stylish handbags lovers blossom we knew we needed to create them a place of their own. So we launched Bagaholics as a handbag Facebook community for our highly engaged customers. This allows us to foster a community which highlights the need for many handbags through peer-validation as well as allows users to buy/trade/sell their Ivory Clasp (and other) handbags.
Our business model is simple and proven to work:
We're simultaneously a discounter that can supply full-price and in season bags, and a full priced retail shop that can operate/sell to the mass market. TJX is currently soaring at $45b market cap, while Macy's is nosediving ($7b). We're the best of both worlds.
Ivory Clasp’s Competitive Advantage
Brands and licensors are often prohibited by their retail contracts from selling in-season handbags to other retailers that will advertise those same handbags at a discount.
Since Ivory Clasp does not advertise which exact handbags its customers will receive, the brands and licensors are still capable of selling in-season handbags to Ivory Clasp at a discount.
Therefore, brands and licensors can sell to Ivory Clasp to hit higher factory MOQ’s and offload inventory, while customers receive discounted, but still in-season, handbags.
In addition to being a distribution channel for brand name handbags, Ivory Clasp is also an incubator for brands created based on data from subscribers.
The Handbag Market
The handbag market is a fragmented $12B market, with even the largest brand, Michael Kors, owning less than 20% market share.
According to Signal Brands (world’s largest handbag licensee) research, the average consumer purchases 5-7 handbags priced at $100-200 a year ($900/year average across multiple brands).
Ivory Clasp’s subscribers spend on average $380 a year in lieu of other brands.
Competition
Right now we're profitable on every unit we send out and our churn and customer acquisition costs metrics are 11% and $25 over the past 3 months) with an LTV (life-time-value) of $93. We can sustain the business, but wish to raise capital to increase Advertising spend and the rate of new customer acquisition. This allows us to show growth and (a) raise a larger venture backed round and (b) take over a segment of the market. Using our ability to A/B test product we intend to take our learnings to the market and produce data-driven bags based on what people want. We also intend to scale into different verticals leveraging our understanding of single-product subscription boxes.
Benefits of scale
We're excited to work with companies who continue to push the needle and provide irresistible consumer experiences. We love introducing students to our awesome partner brands!
Short term (3 months)
Improve Style Quiz
Expanding Quarterly Service
Automate Styling
Interim term (3-9 months)
Higher-end Tier
Faster Shipping Times
Long term (1 year +)
New App
New Perks/Upsells
VIP STATUS
Full Price Handbag Shop
Vertical Expansion
Expand single subscription purse model to jewelry (already in progress) shoes, apparel, sunglasses/accessories, luggage, scent.
Combine Verticals
Allow customers to choose which product category they want each month, like a modern Sears Catalogue or TJ MAXX/Ross/Marshalls competitor. They can choose a new handbag one month, a bathing suit the next, a new kitchen accessory the following month, and yoga pants the following one still while maintaining a single CPA and significantly increased LTV, as well as substantially increased retention
Interim term (3-9 months)
Expanded Private Label Brand Product
Pop-Up Shops
Licensing
Long term (1 year +)
"As I started to become fully immersed in the fashion industry, I started to quickly become passionate of the idea of what it is consumers want and why is it that they want this specific product and style."
"One of the most exciting things about Ivory Clasp is that customers love us! We are seeing incredible traction. What this tells us is that not only are we on to something with handbags, but we're on to something in the more broad look of how business models and subscription businesses should look in the 21st century."
- Sean Rimokh
"Ivory Clasp is addressing two problems in the market: - The first, is that today’s millennial women love brand names, however they’re brand agnostic to which of the hundred brands they see in stores and online. The second is that brands and licensors on the other hand struggle with recouping costs of unsold inventory."
"Why do Brands love us? Simple, brands and licensors are often prohibited by their retail contracts from selling in-season handbags to other retailers that will advertise those same handbags at a discount. Since Ivory Clasp does not advertise which exact handbags its customers will receive, the brands and licensors are still capable of selling in-season handbags to Ivory Clasp nearly at cost. Therefore, brands and licensors can sell to Ivory Clasp to hit higher factory MOQ’s and offload inventory, while customers receive discounted, but still in-season, handbags."
- Avi Zolty
$6,000,000
The maximum valuation at which your investment converts
into equity shares or cash.
Learn more
15%
If a trigger event for Ivory Clasp occurs, the discount provision
gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.
$107K
Ivory Clasp must achieve its minimum goal of $50K before the deadline. The maximum amount the offering can raise is $107K.
Learn more
Crowd SAFE
A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event.
·
Learn more
x
x
We are a handbag subscription company that delivers on-trend brand name handbags directly to your doorstep for only either $49/month or quarterly.
This site (the "Site") is owned and maintained by OpenDeal Inc., which is not a registered broker-dealer. OpenDeal Inc. does not give investment advice, endorsement, analysis or recommendations with respect to any securities. All securities listed here are being offered by, and all information included on this Site is the responsibility of, the applicable issuer of such securities. The intermediary facilitating the offering will be identified in such offering’s documentation.
All funding-portal activities are conducted by OpenDeal Portal LLC doing business as Republic, a funding portal which is registered with the US Securities and Exchange Commission (SEC) as a funding portal (Portal) and is a member of the Financial Industry Regulatory Authority (FINRA). OpenDeal Portal LLC is located at 149 E 23rd St #1314, New York, NY 10010, please check out background on FINRA’s Funding Portal page.
All broker-dealer related securities activity is conducted by OpenDeal Broker LLC, an affiliate of OpenDeal Inc. and OpenDeal Portal LLC, and a registered broker-dealer, and member of FINRA | SiPC, located at 1345 Avenue of the Americas, 15th Floor, New York, NY 10105, please check our background on FINRA’s BrokerCheck.
Certain pages discussing the mechanics and providing educational materials regarding regulation crowdfunding offerings may refer to OpenDeal Broker LLC and OpenDeal Portal LLC collectively as “Republic”, solely for explanatory purposes.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC make investment recommendations and no communication, through this Site or in any other medium should be construed as a recommendation for any security offered on or off this investment platform. Investment opportunities posted on this Site are private placements of securities that are not publicly traded, involve a high degree of risk, may lose value, are subject to holding period requirements and are intended for investors who do not need a liquid investment. Past performance is not indicative of future results. Investors must be able to afford the loss of their entire investment. Only qualified investors, which may be restricted to only Accredited Investors or non-U.S. persons, may invest in offerings hosted by OpenDeal Broker.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC, nor any of their officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information on this Site or the use of information on this site. Offers to sell securities can only be made through official offering documents that contain important information about the investment and the issuers, including risks. Investors should carefully read the offering documents. Investors should conduct their own due diligence and are encouraged to consult with their tax, legal and financial advisors.
By accessing the Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy. Please also see OpenDeal Broker’s Business Continuity Plan and Additional Risk Disclosures. All issuers offering securities under regulation crowdfunding as hosted by OpenDeal Portal LLC are listed on the All Companies Page. The inclusion or exclusion of an issuer on the Platform Page and/or Republic’s Homepage, which includes offerings conducted under regulation crowdfunding as well as other exemptions from registration, is not based upon any endorsement or recommendation by OpenDeal Inc, OpenDeal Portal LLC, or OpenDeal Broker LLC, nor any of their affiliates, officers, directors, agents, and employees. Rather, issuers of securities may, in their sole discretion, opt-out of being listed on the Platform Page and Homepage.
Investors should verify any issuer information they consider important before making an investment.
Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC verify information provided by companies on this Site and makes no assurance as to the completeness or accuracy of any such information. Additional information about companies fundraising on the Site can be found by searching the EDGAR database, or the offering documentation located on the Site when the offering does not require an EDGAR filing.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Therefore, when you use the Services we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license, passport or other identifying documents.
Republic and its affiliates are not and do not operate or act as a bank. Certain banking services are provided by BankProv, member FDIC / member DIF. Digital (crypto) assets and investment products are not insured by the FDIC, may lose value, and are not deposits or other obligations of BankProv and are not guaranteed by BankProv. Terms and conditions apply.
Made in SF/NYC