Mazur: Ash and Anvil raised $26K in Indiegogo pre-orders
Steven Mazur · EP 336: Ash and Anvil Sells Clothes To Short Guys, 25% Ecommerce Re-Order Rate · Jun 25, 2016 · at 3:12
Steven Mazur, co-founder of Ash and Anvil, recounts the company's early crowdfunding campaign to validate demand for shorter men's shirts.
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“Our goal was 10,000 dollars. That's the point where we said, alright, if we raise 10,000, we know we can submit an order and get this thing off the ground, there's enough traction. We ended up raising 26,000 dollars in pre-orders.”
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More from Steven Mazur
Mazur: 40 million US men under 5'8" struggle to find clothes
“There's forty million adults in our country that are five and below. That's a third of men that have trouble finding clothes that fit well.”
Mazur: Ash and Anvil's landed cost is $20 to $25 per shirt
“Our pricing at low volume is anywhere from 20 to 25 dollars to get the shirts to our door.”
Mazur: Ash and Anvil operates at 50% to 55% gross margin
“Closer to 55 once you, especially once you add everything else, like that packaging fulfillment, but about a 50%, 55% margin at this point with that lower volume.”
Mazur: Ash and Anvil sold out initial 1,000 shirts in five weeks
“Our first round of shirts that we ordered that ended up selling out in five weeks, that was a thousand units.”
Mazur: Ash and Anvil held a 25% reorder rate while sold out
“We ended up selling out in our first five weeks, we sold out of inventory in January, and we're just now getting our next batch in a couple weeks. So, we've been sold out for a few months, and even with being sold out and only taking pre-orders now, we still h…”