Trunk Club was founded by Brian Spaly, co-founder of Bonobos. Brian is a very rare entrepreneur who blends both art and science.
He is obsessed with dressing men well and loves making clothes for men but also has a background in finance and private equity. This duality along with his learnings from Bonobos allowed Brian and his fantastic team to build the business from $5MM to $80MM in revenue in just over three years before the sale to Nordstrom AND it was profitable; rare for a high growth business and practically unheard of in e-commerce. The secret sauce of TrunkClub was the focus on making stylists (sales people) bionic and by extension providing exceptional experience for their customers.
Greycroft participated in the Series A and Series B rounds of funding and helped introduce investors as options at the same time we were contemplating the sale. As the only woman on the board or management team, I spent a lot of time coaching and mentoring the senior sales team who were all women. We helped recruit Rob Chesney, the COO to the company as he moved from CA. We introduced TrunkClub to Nordstrom and encouraged the Nordstrom management team to go and visit them in Chicago. While they were slow to move, this ultimately resulted in its acquisition.
TrunkClub was one of the most capital efficient e-commerce businesses of all time achieving nearly $80MM in revenue and profitability on less than $15MM in invested capital. It was also one of the best exits for e-commerce companies with investors, including Greycroft, making nearly a 10X return in three years.