When Lightning Strikes: Mon Purse

mon purse, motivation

So did YOUR recent trip to the mall inspire a brilliant business idea?

Lana Hopkins had a fashion dilemma; she couldn’t find the perfect handbag. She wouldn’t spend $5000 for a luxury bag and cheaper mid-priced ones never lasted long.

So yet another fruitless search in 2014 made her leave the shopping mall in frustration. On the way out, a Build-a-Bear Workshop caught her eye.

And lightning was about to strike.

She spent over an hour creating a customized teddy bear and thought ‘why not apply the same model to handbags?’

And the simple idea for Mon Purse was born; allow customers to design and customize luxury handbags and leather goods.

Although the idea was simple, the execution was anything but.

Lana travelled around the world to find materials, craftsmen and manufacturers to execute her vision. She eventually found a factory in Turkey willing to work with her. Then she taught herself to code and bartered her marketing skills in return for help developing the e-commerce back-end for the platform.

Just three years later, the Sydney, Australia-based firm has 30 employees and is on track for $20 million in sales. More important, it’s a model of innovation, as customers use proprietary 3-D technology to build and design their bags online. In fact, there are now SIX BILLION customizable options for a Mon Purse bag (which takes just four weeks to manufacture and deliver).

Next up: world domination, as the brand debuts its ‘shop-in-shop’ with Bloomingdale’s New York flagship store.

Mon Purse’s unique concept, accessible price points and beautiful products are changing the model of consumption. 

And you have a stuffed bear to thank for it.

YOU NEVER KNOW WHEN LIGHTNING WILL STRIKE.

 

 

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John Lavallo57 Posts

John is Columbia Business School MBA with expertise in marketing, business leadership, and law. John is a successful entrepreneur who took his first company public. He currently resides in New York City.