Three years ago, college dropouts Jake Kassan and Kramer LaPlante launched an Indiegogo campaign to create high quality timepieces for the millennial market at a price of between $95 and $140. They were part of the boom in direct-to-consumer businesses–including Everlane, Warby Parker, and Cuyana–and were interested in creating an alternative to overpriced luxury fashion. Kassan and LaPlante ended up having the second-highest crowdfunded fashion campaign of all time, raising over $300,000; they used this money to launch their company, MVMT.
The brand has just dropped an eyewear line that has much the same aesthetic as the timepieces. The collection features both men and women's styles and cost about $70 a pair.
The founders have a cautious growth strategy. They chose not to take on any funding so they retain control of the business. Over the last three years they have had a lean marketing strategy, focusing largely on getting the word out on Instagram and through social media influencers. Their strategy appears to be working: they're on their way to do more than $50 million in sales this year.
[Images via MVMT] ES