Burch sisters land in Forbes 30 Under 30 list
NEW YORK (FOX5NY) - A pair of sisters in their mid-20s is among the youngest members of this year's Forbes 30 Under 30 list, making a name for themselves with an affordable and customizable handbag line.
And you might say, they were born to be in fashion.
Neely and Chloe Burch, happen to be the nieces of Tory and Chris Burch, and their dad was also in the clothing business for 30 years.
In their home growing up, the dinner table conversation was often about design, hemlines and the question "do you really want to wear that?!"
So it was no surprise when these two quit their jobs barely a few years out of college and went out on their own.
The whole idea behind Neely and Chloe, says Neely Burch, is that when you walk out of here, the bag should really be about you and not about them.
The only monograms you'll find on their handbags? Your own.
All of their branding is very subtle and only on the interior, with the exception of one or two items.
The Burch sisters launched their eponymous line this fall with 12 styles of handbags in a pop-up shop in the West Village, filling a void for the 20-30 something year old shopper: high quality at an attainable price point and a well-made form meets function product.
That form meets function is evident in everything from their travel wallet to their lined beach bag.
Chloe says the wallet can fit everything: your phone, passport and boarding pass, plus all your credit cards, and a pen.
The beach bag is lined with coated canvas so if your sunscreen spills or you want to put a wet bating suit in there, you can easily clean it out and it's as good as new.
All of their bags are under $300.
Their most expensive pieces are the weekender, large tote, and backpack which cost $298. Their least expensive items are their luggage tags and bag charms which start at $28.
Nearly everything in the line can be embossed with your initials for just $4 a letter.
Neely and Chloe were able to keep the prices down cutting out department stores and selling straight to the consumer.
By avoiding that second markup they're able to deliver a higher quality product at a better price point.
At just 23 and 24 years old, the sisters started fundraising for the first time, bringing in over a million dollars in convertible debt, mostly from men, to get their brand off the ground.
Their pop-up shop did phenomenally well this fall, with just a 1.14% return rate, virtually unheard of in retail.
They made the Forbes 30 Under 30 list this year.
And just this month, they opened their first 'shoppable showroom' in TriBeCa.
Neely and Chloe say they have inventory in their showroom so customers can come in and look at the product, and leave with something that's embossed right away. While you're there, you can even peek into their office space and see their design boards for the next season.
Over the next few weeks you'll be able to book appointments to visit the showroom where the new spring line is already out.
They're also doing another pop-up shop in SoHo in April.
And their summer line, which includes that incredible travel wallet, is out in May.
All of their products are available on their website: www.neelyandchloe.com