Grove Lane Luxury Menswear
Grove Lane was founded in 2010 with the purpose of creating a new type of fashion accessory that the market had not seen before. This goal was achieved as the product began to gain serious attention within the media, going on to become featured in magazines such as GQ, Mens Health, Los Angeles Times, Mr. Porter, and more. It's been worn by many celebrities such as Quentin Tarantino, Bill Maher, PJ Morton, and more.
The revenues of this business were at its peak in its earlier years, though it was a humble part time business that made sales through small referrals and organic searches. There is still serious potential growth in this brand!
I believe that the owner of this business would be able to turn this brand into a very successful, possibly internationally recognized brand. The elements are there: it has a unique and high quality product, it already has media coverage, it has celebrity names backing it, and it was founded in New York City (one of the main fashion hubs in the world). It has been around for years, so there is more trust in the brand within consumers and the media (since new brands have a hard time gaining the trust of an increasingly skeptical market)
Leveraging this brand status/age and celebrity endorsements, new products (such as watches, leather bags, vegan leather bags, etc) can be introduced in order to expand the product line and have a higher chance of success because they are associated with a more trusted brand that's been around for a long time (the instagram has images dated back to 2011, so this is legitimate proof)
The ties have gotten many sales in the wedding market, and there is a ton of potential in this area, as it is a multi-billion dollar industry.
Ways to improve the business so that it turns into something successful and high income generating for years to come:
-You can sign up for Sarah's service which connects brands to influencers and celebrities. This would be easier to achieve with GL as it already has tons of connections to celebrities and influential magazines.
(Remove space in front of .com)
- Her training also shows you how to get the product into retail stores. (We have actually been approached by retail buyers before but did not have the financing to produce enough ties. If the new owner had the risk tolerance to take a loan in order to manufacture a larger number of ties, there may be serious potential in the retail market)
More photoshoots and a better social media strategy could bring in a good amount of traffic.
Better management. More passionate owner(s). Can be rebranded so that the new owner(s) is now behind the story.
Entering into international markets. The ties have gotten sales from all around the world, including China, Mexico, Germany, London, France, Austrailia, etc. Its popularity seems to extend to many different cultures around the world. The sales from China indicate that it would possibly be a fit for the highly lucrative China luxury fashion market.
Offering leather bow ties. This (bowties) is a very strong market right now.
What comes with the sale
The entire business.
17 ready made ties worth $2200
Google Shopping Ads made professionally through an [REDACTED] freelancer (worth $200)
Theme worth $180
Contact information for manufacturers
Step by step video demonstration and training on how to make the ties yourself and source the materials, in case you want to start small and handle production yourself instead of using manufacturers. (In order to keep more profits)
Around the end of 2017, we did tweak the website and improve many elements to it in order to have it ready for sale, and we were able to make 3 sales pretty quickly without even advertising it (they came organically)
As you may have picked up from this description, this store is not going to be easy to manage. But if you were able to take on the challenge, it could be incredibly lucrative.
Feel free to get in touch if you have any questions. I will send previous sales from previous years as requested.