SUITING UP: A seed round of funding raised earlier this year was enough to get digital men’s wear brand Eison Triple Thread into new headquarters and finish building out its platform ahead of Thursday’s official launch nationwide.
The San Francisco-based company, which raised $200,000 in April, began in 2014 and has been in beta mode for roughly a year first testing in San Francisco and later expanding to New York with its custom suiting options. On Thursday, the company takes its e-commerce model nationwide, offering suits starting at $699 with turnaround in about 30 days and shirts starting at $149, delivered to the customer within two weeks. There are also jackets starting at $540 and trousers for $199.
“We’re targeting the guys 21 to 40 years old who are crossing over into a progressive part of their career,” said founder and chief executive officer Julian Eison. “We’re going after the guy who is a little bit more discerning. Maybe it’s not his first suit and he has a little bit of a fashion sense.”
The company is in the process of finalizing a move to a 1,000-square-foot office in Union Square that will eventually function as a hybrid showroom space.
“We want to showcase the product as art,” Eison said. “The whole intent here is to get out of the practice of heritage luxury and build something a little bit more personal.”
Eison expects the company’s current seed raise to last it about 12 months from the time of launch, with the business anticipating sales of between $500,000 to $1 million in its first full year in operation in calendar year 2017.
Eison Triple Thread joins a competitive landscape that already has some options in digital men’s suiting brands, although they’re not necessarily direct competitors, Eison contends. Combatant Gentlemen, a born-online brand based out of Irvine, Calif., sells custom suits at a much lower price point and has since gotten into shoes and also opened showroom space in Beverly Hills. There’s also the rental side of the market with companies such as The Black Tux based out of Santa Monica, Calif.
“We built the brand in an area that is vacant,” Eison said. “We know from research the market is highly fragmented and it contains a lot of merchants and clothiers that specialize in low-cost suiting. The market has become saturated with products that don’t necessarily have the longevity and materials that garments once did so we really wanted to exist and compete in a space where the other low-cost leaders aren’t necessarily considering….We don’t want to compete with the bespoke shop.”