In this article, we will look at and review Trunk Club & it’s clothing subscription box business model. As you guys already know, we are quite big fans of the subscription box business model. For those who are unaware of what they are, to put it in a simple term, think of it as a membership where you pay a monthly subscription fee and receive a box worth of clothing each month. So without further a do, let us dig deeper into it and have a thorough review of Trunk Club.
According to Wikipedia, Trunk Club is a company based out of Chicago, Illinois. It was founded by an MBA student named Joanna Van Vleck in 2009. It was originally started with a humble beginning in Bend, Oregon. The reason for their success was that investors had strong confidence in this business idea and invested a substantial amount of money into the company early on. One other major reason was to hire Rob Chesney, a former executive at eBay. Previously, Chesney helped eBay with boosting the company’s sales and profitability. This has impressed the subscription box company and they appointed him to the position of Chief Operating Officer, putting him in charge of the day to day operations. They received $11 million in funding from various entities but was mainly led by the venture capital firm US Venture Partners.
Through hard work and clever business strategies, the company managed to grow at such a fast rate and attracted attention from retail giant Nordstrom. Nordstrom eventually took full ownership of the subscription box company for a sum believed to be around $350 million. In just five years, Trunk Club managed to go from an idea to being one of the leaders of their industry. That’s what I would define as a successful business idea!
How it Works
Trunk Club specializes in mid-range to high-end clothing and each box is personalized and tailored to each member’s specification. Working with a specialist, members can tick off different criteria that suit their needs and the specialist will come up with suggestions on which items would suit them best.
For example, if you’re a busy individual who works long hours and just can’t find the time to shop for clothes, you can simply log on to their website and register an account. Once registered, you can specify which cut that you would like, the color scheme that you prefer, and your sizes for your tops and bottoms. That is to say, for men, it’s your shirt size and pants sizes.
Moving on to the next part of our review – what’s the cost? Well, it’s not so simple. See, how it works is like this. Instead of the usual, pay a fixed sum each month, and you’ll get a box in the mail, they’re a bit different. Trunk Club’s business model can be summed as this: “You’ll receive several different fashion pieces in the mail. You return what you don’t like. You’ll only be charged for what you do like and choose to keep.” Typically, the cost would be around $100 – $300 per item.
To give a rough idea, you’ll receive two or three pieces of each of these items, pants, shirts, and accessories. They vary so that you can make your own choices. You’ll only need to pay for what you decide to keep.
Pros and Cons
The main major positive point that we can commend them on is that members are able to choose the clothing pieces that they’d like to keep. This helps eliminate doubts if members are unsure if Trunk Club is the right choice of service for their shopping need.
As for the downside, we’d have to say that their price point is a bit higher than similar competing fashion subscription box companies such as Five Four Club.
What do you think of our review? Have you tried or are currently a member of Trunk Club? If yes, what’s your opinion on it? Let us know…