Men’s Style Lab Out Of Business – The fashion-focused Des Moines startup has invested in some of the biggest names in retail and technology to challenge the idea of giving everyone personal clothing.
Men’s Style Lab raised $1.85 million this month, including former executives from retailers including Macy’s and Kohl’s.
Men’s Style Lab Out Of Business
Founder and CEO Derian Baugh said the investment will allow the mail-order and consignment menswear company to invest in inventory, hire key employees and build the technology needed to grow the online retailer.
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The Men’s Style Lab, launched in 2013, uses proven models from Trunk Club, the luxury menswear service that Nordstrom bought this year for $350 million: The company’s stylists first interview customers over the phone to learn their tastes and sizes. A box of carefully selected items based on individual customer preferences. Customers pay for what they keep and get the rest back.
While Trunk Club sells luxury clothing at extravagant prices, Men’s Style Lab targets the average man who buys clothes at affordable prices, and Baugh argues that the majority of the American public will be open to the concept.
So did investors. One of them is Jeff Rusinow, a venture capitalist (now head of Men’s Style Lab) who spent 20 years as an executive at Macy’s, Kohl’s and the Hudson Bay Company. The company has long owned Saks Fifth Avenue. department store. There’s also Dennis Phelps, who has invested in tech companies like Snapchat, Twitter and Shazam.
Baugh declined to disclose the size of Men Style Lab’s current customer base or its holdings after the investment.
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The company’s funding round began last spring at Wisconsin-based startup accelerator Gener8tor, which selected Bau’s startup from more than 300 applicants, pitched it to a pitch, and pitched it to investors. . Gener8tor also gave $70,000 in funding to the Men’s Style Lab. By September, Baugh said, he had raised $750,000. The last payment of $1.1 million was made this month.
“The accelerator verifies that it’s a legitimate business when it enters the program,” Bao said. “Investors are paying more attention to that.”
Baugh also assembled a team of advisers, including former Lands End and Goldman Sachs chief financial officer Susan Healy and Mike Colwell of Des Moines investment firm Plains Angels.
Also hired: Kevin Hansen, who managed the Badovers until this month. Hansen has been busy rebranding a decades-old men’s clothing store in Des Moines into a cool, hyper store that appeals to CEOs by wearing suits. Many years of youth. In August, Esquire named Badovers the No. 2 men’s store in the US.
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Hansen, now the company’s vice president of marketing, brings a network of very few contacts in the menswear world and years of experience buying merchandise and debating what men will wear each season.
Baugh approached Hansen a few months ago. Hansen said he believes the startup has some advantages, but wants to think about it. Once the investment was made, he agreed to join.
“I think my greatest skill is understanding how to turn something less effective into something more effective.”
Hansen’s main challenge was to do what he did to the Badovers at Men’s Style Lab: make it cool, create the company’s brand and tone, and convince the everyday Joe that the clothes were cool, masculine, even clothes.
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There’s still a long way to go, but progress has been made: Men’s Style Lab’s website uses the same basic design and promotions as an online retailer. A beautiful new website was launched on Sunday.
Hansen is also responsible for managing and forecasting the company’s clothing inventory at the employees’ daily retail locations. Trunk Club stocks brands like Eton, whose Hansen shirts retail for $255 at Badovers. Expect to see lab coats designed for men in the $50-$100 range, he said.
At Badovers, Hansen trains everyone from young workers at an East Village fashion store to Iowa State men’s basketball coach Fred Hoiberg and Meredith CEO Steve Lacy. Men’s Style Lab presents a different challenge.
“When your business is online, it’s difficult,” said Hanson, who is used to pitching to clients in person rather than over the phone or online. “I think the bottom line is that it’s going to be a place where a guy can come and set a date, and someone will tell him how to dress, make sure he’s fit, hold his hand, and make sure he’s happy. “
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The physical space for Men’s Style Lab is located on the fourth floor of the Midland Building at Mulberry Street and Sixth Avenue. Among several other Midland startups, the company had 15 employees in its offices, according to Baugh’s latest report. She says she gets dressed by a stylist every week.
“We may have to go elsewhere in January, but we’re here to embrace startup culture,” Bao said.
Wherever Men’s Style Lab is located, the company plans to stay in Des Moines, a centralized location that delivers to most U.S. cities within three days, he said.
While attending Grand View University, Baugh drew on the clothes she wanted to wear in class. Prior to his management role at US Cells, he worked at several retailers including Fossil and Finish Line. But his interest in clothing remained until the opening of Men’s Style Lab last year.
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In the early days of the company, Baugh tried to put together the lowest-performing product, which he called the MVP of the tech world. One problem: it has nothing to do with the clothing brand. Baugh went to the Jordan Mall, browsed the shelves and picked up what he could. After the merchandise sold out, it hit the Williamsburg Mall, Minnesota, and other stores in Chicago.
He bought price tags at Hobby Lobby and tied them to his belt. He packed the clothes, sent them, and did nothing.
“We’re here for the common man,” Bowe said earlier this month. “If you can’t find ordinary people in Iowa, I don’t know where you will.”
Badovers is operated by Midwest Clothiers, which also operates Backroom, Mr. B’s and Proper, a regional clothing store focused on womenswear within Badovers.
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Tim Sitzmann, co-owner of Midwest Clothiers, purchased part of the retail space on the first floor of the East Village Soho Development and announced plans in March to move Proper into the Soho store next year.
This month, associate manager Keeley Stenberg said the sister store will make its permanent home in Badovers for men at 2817 Ingersoll Ave.
“Part of it is the Ingersoll area and the passion for the area,” Stenberg said. “I think people are part of it. Companies have bought (the land), so we might consider moving there.” “Men’s Style Lab is all about dressing well. We deliver high-quality, personally selected clothing that fills your life right to your door.
On Monday, menswear returned with an autumn-winter look featuring a flat blazer paired with a wool coat. Sometimes life gets so busy that I don’t have enough time to fit everything into one day. One of the main reasons I hear from men that they don’t dress well is that they don’t have time… So I partnered with Men’s Style Lab to review their services. I took a quick quiz to find out what I’m looking for in terms of age, style and quality, and more. I asked. To be honest, I was a bit skeptical at first, because I make all the designs myself and it’s mostly hand-stitched clothing. But when my Men’s Style Lab personal package arrived, all my doubts were dispelled. Packs are seasonal and include a black denim shirt, plain blazer, wool coat, olive chinos and boots. Have a great time everyone! I was amazed that not only was everything perfect, but they were all from high-quality brands: GANT, BOGA, Scotch & Soda, Florsheim. Honestly, MSL seems to read my mind when it comes to my taste in style and quality. It saves a lot of time from going to the mall and even browsing through many websites.
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The bag has neat details like Mr. Chen – my mind was thinking “It’s your job to accept…” so I decided to put on all my clothes and walk around town. It’s getting close to sunset (which is
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