E-commerce trends
Unlock Bellroy's global success: $83M to $300M in 5 years
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Cathy Carpetta
February 9, 2024
Picture this: In 2009, at a kitchen table in Bells Beach, Australia, Andy Fallshaw and friends sought to redefine the wallet. Frustrated by the bulky and unappealing appearance designs, Fallshaw aimed for simplicity.
In just a year, Bellroy was created, bringing together style and functionality like never before. Fast forward to 2022, Bellroy has evolved into a $300 million omnichannel brand — a massive jump from its $83 million valuation five years ago.
Business Insider, Forbes, and GQ all agree: Bellroy makes the best men's wallets.
Now, let's dive into what exactly made Bellroy rise to the top in the accessories game.
1. Bellroy's secret recipe to put their wallets in every pocket
1.1 Leveraging their community to reinvent an everyday carry
Bellroy was established in 2009 by designers Andrew Fallshaw and Hadrien Monloup, along with engineers Lina Calabria and Matthew Fallshaw.
In 2010, inspired by insights from their blog testing ground, Carryology, the brand started with the five wallets, emphasising the concept of "less is more."
The first products were: Very Small, Very Protective, Slim Sleeve, Hide & Seek, and Take Out – all designed for minimalist everyday carry.
These straightforward product names directly identified pain points based on feedback from their blog community.
“We re-engineered the wallet from the ground up … They took off [and] they found unbelievable resonance. That notion of slim wallets, which hadn’t been a focus before then for brands, grabbed hold,” Fallshaw shared.
As they work closely with groups like our Carryology community to make sure their designs always get better.
The Bellroy Slim Sleeve wallet has been updated over 22 times since they first made it over ten years ago. It’s still the same wallet, just improved each time.
Currently, Bellroy sells +80 products across several categories, including wallets, bags and accessories, on its website.
1.2 Adopt an omnichannel approach to make sure to meet your target
Fallshaw adopts a versatile retail strategy for Bellroy, aiming to meet customers where they prefer to shop.
Bellroy's presence spans its DTC e-commerce site, Amazon, and in over 1,200 physical stores thanks to their extensive partnerships with retailers since 2012.
The brand seeks out retailers who understand their customers and cater to them effectively. This includes fashion-focused stores like Barneys NY, Nordstrom, and Incu, as well as action sports retailers like Patagonia and Burton Japan, and specialty stores like Loft and Tokyu Hands in Japan.
Thanks to their strong sell-through rates, they've earned recognition among top-tier retailers worldwide.
1.3 Match your customers' values
Bellroy's sustainable commitment is represented by embracing Patagonia's sustainable 'cradle-to-cradle' approach.
It’s based on three principles:
- THINK BEYOND THE PRODUCT
- IT'S EQUALLY ABOUT WHAT YOU USE AND HOW YOU USE IT
- CONSIDER THE ENTIRE PRODUCT LIFE CYCLE
Following Patagonia's principles, Bellroy realised that they don't have to harm the earth to make great products. By using high-quality materials and lasting designs, they are helping to protect the environment.
A few key initiatives:
- Certified B Corp company since 2015.
- Leathers come from gold-rated LWG tanneries and DriRanTM, with a focus on environmentally conscious practices to save water and reduce chemicals.
- 100% recycled polyester and nylon fabrics for sustainability.
- MIRUM collection featuring regenerative plant-based, plastic-free leather.
- 100% of their paper packaging is FSC-certified paper 100% of their polybags are made from 100% recycled conten.
2. Bellroy’s marketing strategies: Innovative campaigns and limited edition
2.1 Slim Your Wallet campaign
In 2011, Slim Your Wallet gained popularity and focused on highlighting the benefits of their slim, minimalist wallets compared to traditional bulky wallets.
Through creative marketing materials, including videos, blog posts, ads, and social media content, Bellroy emphasised how their wallets could make your life easier and declutter everyday carry items.
On their website, you can see a visual representation of how the slim wallet compares to standard ones. By sliding a control along a line, users can witness both wallets filling up with cards and cash, effectively illustrating how Bellroy's slim wallet tackles the common problem of bulky wallets.
This campaign resonated well with the audience and still defines Bellroy’s identity.
2.2 Product collaboration and limited editions
Bellroy effectively increased its reach by collaborating with brands in similar industries, especially those with a broader audience.
In 2012, it signed with its first international retailer, Huckberry.
Impressed by Bellroy's Hide & Seek wallet, Huckberry requested a customised version, leading to a highly successful limited release.
In 2016, Barneys New York collaborated with Bellroy and in 2017, they did one with Google for the Made for Google collection.
The collaboration is still ongoing, Bellroy created multiple phone leather cases for the Pixel smartphone but also a sleeve for Google's Pixelbook.
This collaboration not only served as social proof for Bellroy but also garnered extensive free press!
Since then, they have had multiple successful collaborations with different designers like illustrator Karan Singh, personalities like NBA star Patty Mills and brands like STAPLE.
Bellroy smartly used their collaboration to expand its product range at the same time: phone cases, tech kits, functional bags…
In conclusion, Bellroy's rise from a small kitchen table in Australia to a $300 million global e-commerce giant illustrates the impact of innovative design, smart marketing, and a focus on sustainability.
They've reshaped the accessories industry with simple yet functional products, capturing the hearts of consumers worldwide.
After 15 years after its creation, how does Bellroy plan to navigate the evolving consumer trends and adapt their marketing strategy to meet them?
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