Trunk Club, an online men’s fashion service that provides a curated selection of apparel and accessories, today launches its designer series featuring a partnership with Theory for its September trunk.
This story first appeared in the August 21, 2012 issue of WWD. Subscribe Today.
The Theory trunk will feature 10 items from the brand’s fall collection, such as sweaters, shirts, jackets, trousers and outerwear. Following the Theory trunk will be the Eton trunk in October, showcasing five shirts, two ties and a pocket square from the Swedish shirtmaker.
Trunk Club was launched in December 2009. According to Brian Spaly, chief executive officer, the site targets professional males between the ages of 30 and 50 who don’t have a lot of time to spend shopping from store to store. Along with Andy Dunn, Spaly was a cofounder of Bonobos. He left Bonobos in December 2009, but is still a shareholder in the firm.
Essentially the Trunk Club business model has the site buying inventory, which it then sends out in “trunks” to its customers. They then choose what they want to keep at full price and the rest they send back. Trunks can be sent out on whatever timetable the customer chooses.
“We carry 50 different labels. Among the top 10 brands are Jack Spade, John Varvatos, Vince and Billy Reid,” Spaly said.
The difference between the two trunk selections is that the regular selection is upscale focused, while the designer component can be more luxurious in nature and at higher price points.
For the regular trunk selections that are sent out, the average spend is $500. “There are 10 items that are sent out, and the average retail price is $150. Customers keep on average a third of the trunk, or about three or four items,” Spaly said.
The trunks are curated for each customer based on style, fit and size preferences. Each customer works with a style consultant to help him find the right look, whether for work or out to dinner.
The company a year ago raised $11 million in venture capital Series A funding, led by U.S. Venture Partners. Other investors include Greycroft Partners and Anthos Capital. Anthos was also an initial investor providing seed money to the start-up venture.