Watch brand Mvmt tiptoed into eyewear last year, but it’s ready to make a much larger splash in the category.
The direct-to-consumer company (pronounced “movement”) established itself as a brand that was the alternative to high-end watch brands or the more niche offerings from labels operating in the action sports sector. Now it’s looking to be a full-fledged accessories brand.
The company’s new Heat collection, launching Tuesday, is more fashion-forward. It’s also heavy in influencers, with Rocky Barnes, Nicole Isaacs, Jill Wallace, Jourdan Sloane, Racquel Natasha and Kelsey White in the campaign.
The success of eyewear is key as the company looks to build its women’s business, which accounts for 30 percent of overall sales. Mvmt aims to boost that percentage to 60 percent this year.
Overall, eyewear is still a small portion of the business, accounting for roughly 5 percent of the company’s overall $80 million in revenue last year. The goal would be to grow that to 15 to 20 percent this year, according to cofounder and chief executive officer Jake Kassan. The company declined to say what it’s projecting in annual sales this year, but Kassan confirmed the business has been profitable every year since its inception.
Mvmt ships to 160 countries with the bulk of its business generated within the U.S. The company’s watches are also sold in Nordstrom.
The company, like most digitally native brands, is adept at social media, with a combined 4.5 million in followers across its Facebook and Instagram accounts, which has helped it gain traction in a landscape that’s dominated by long-standing heritage brands.
Mvmt is also not beholden to the whims of outside investors, with the two founders bootstrapping their start-up capital: $300,000 raised through an Indiegogo campaign and another $50,000 from cofounder and chief operating officer Kramer LaPlante’s grandmother.
“Kramer and I were college dropouts and we were passionate about creating this aspirational brand and really living life on your own terms,” Kassan said. “For us, we realized when we looked at the market for watches and even sunglasses it was Ray Ban and Nixon.”
There was also the matter of pricing, where Mvmt looks to best its competitors. Its sunglasses hover anywhere from $60 to $90 and $95 to $160 for watches.
While the focus is on eyewear, jewelry is another category Mvmt will continue to build out, Kassan said.
The company is also considering a pop-up this year, although it hasn’t yet pinpointed a location.
“Our brand is about experiences, so if we do a pop-up it’s going to be very experience-driven,” Kassan said. “In terms of [permanent] stores, that’s probably later on down the road.”