The Founding of MVMT Watches: 0 to 100 Million in Revenue

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In today’s newsletter, we'll dive into the inspiring story of MVMT Watches and the valuable takeaways entrepreneurs can learn from their journey.

A Bold Beginning: MVMT Watches' Origin Story

MVMT Watches was founded in 2013 by Jake Kassan and Kramer LaPlante, two college dropouts who sought to revolutionize the watch industry. Frustrated with the overpriced watches dominating the market, they set out to create a brand that offered stylish, high-quality timepieces at more affordable prices.

Crowdfunding Success

With no prior experience in watch design or manufacturing, Kassan and LaPlante turned to crowdfunding as a means of raising capital for their venture. Their Indiegogo campaign was a resounding success, raising over $300,000 and becoming one of the platform's most funded fashion projects at the time. This initial backing enabled them to launch their first line of watches, which quickly gained popularity and attracted customers from around the globe.

The Growth of an Ecommerce Empire

MVMT Watches continued to grow exponentially, leveraging the power of social media and influencer marketing to expand their reach. By 2018, their rapid success caught the attention of watch industry giant Movado Group, which acquired MVMT for a staggering $100 million.

Key Takeaways for Entrepreneurs

The success story of MVMT Watches offers numerous lessons and takeaways for aspiring entrepreneurs, and in this newsletter, we will outline some of the most crucial ones.

1. Disrupt the Status Quo

MVMT Watches identified a gap in the market and saw an opportunity to challenge the status quo. By offering stylish, affordable watches, they disrupted a previously untapped market segment. Entrepreneurs should always be on the lookout for ways to innovate and offer unique value to their customers.

2. Embrace Crowdfunding

Crowdfunding platforms like Kickstarter and Indiegogo have proven to be excellent ways to raise capital and build a loyal customer base. MVMT Watches' success story showcases the power of crowdfunding and how it can propel a business from concept to reality.

3. Leverage Social Media and Influencer Marketing

MVMT Watches' growth can be attributed in part to its strategic use of social media and influencer marketing. By collaborating with influencers who shared their target audience's demographics, they were able to reach a wider audience and amplify their brand. Entrepreneurs should consider incorporating influencer marketing into their overall strategy to boost brand visibility.

4. Adapt and Evolve

Throughout their journey, MVMT Watches remained agile and adapted to the changing market landscape. From expanding their product line to include sunglasses and other accessories to embracing new marketing channels, they continued to evolve as a brand. Entrepreneurs should be prepared to adapt and evolve to stay ahead of the competition.

Final Thoughts

The story of MVMT Watches serves as a powerful reminder that with a disruptive idea, hard work, and smart marketing strategies, anyone can build a successful e-commerce brand. We hope that these key takeaways inspire you on your entrepreneurial journey and help you build a thriving business. Stay tuned for next month's newsletter, where we'll explore more success stories and insights into the world of entrepreneurship.

See you Friday :)