CHSO April 2012 : Page 70

70 | THE RADAR | BIZ | April 2012 Join the Club With a recent $11 million cash infusion, Chicago’s Trunk Club prepares to more than double in size. | By Amalie Drury | It was the opposite of everything else that happened in 2009: A startup where salespeople/stylists pick out clothes for them to try on while they sip luxury retail business launched with just two employees and soon exploded, beer and wine from partners like Finch’s brewery and Atlas Imports.) Venture capital rms like USVP (Silicon Valley), Greycroft Partners growing by leaps and bounds. And now, in the spring of 2012, Trunk Club is preparing to move to a new 30,000-square-foot space that can comfortably (L.A.) and Apex Venture Partners (Chicago) have listened to Spaly’s sales hold its 80-strong sta . e Chicago company has more orders than it can pitch (“Chicago was once known as the out tter to the nation, with companies like Sears, handle and a recent $11 M o nt g o m e r y Wa rd million investment under and Marshall Field’s all its stylish belt to boot. located here. I tell them How did it happen? we’re building the next Because the widely held great out tter,” he says) conception that most and found the idea good men really, really don’t enough to warrant large like to shop is true—and cash infusions. “When Trunk Club CEO Brian you can make guys excited Spaly and his team have about shopping for found a way to make clothes, you know you’re them look good without onto something,” says dragging them to a Stuart Larkins, an angel department store. investor in Trunk Club Trunk Club works and current managing like this: In a sprawling director of the i2a Fund. loft space in River North, “I saw the early response about 40 attractive young f r om c u s t om e r s — women in heels and messy myself included—and buns (along with a sparse it wa s phenomena l. contingent of guy’s guys Trunk Club clients are and a team of nerdy IT passionate promoters of types) sit at a series of long, the brand.” Larkins and connected desks from the other investors were which they connect with sold not only on the idea men who want to revamp of Trunk Club but on their wardrobes. After a Spaly himself. He came series of questionnaires with a proven track and a phone interview, record after building the women (essentially another men’s clothing hybrids of salespeople/ brand, the New York-stylists) retreat to Trunk based Bonobos, in which Club’s well-stocked racks, “When you can make guys excited about shopping for clothes, he remains a shareholder. where they select designer-brand jackets, jeans, Spa ly says he’ ll you know you’re onto something,” says one angel investor. shoes, shirts, ties and grow the staff to nearly “I saw the early response from customers and it was phenomenal.” 150 by the end of the more that are consistent with their client’s desired year, and he credits their look (usually a re ned but determination and word-wearable take on the current season’s styles). ey arrange each out t in a of-mouth prowess with much of the company’s success. “ eir job is to little stack exactly as it should be worn, then turn the bounty over to the promote the business by bringing in new customers and servicing the ones shipping department, where it is packed into a trunk—actually a very sturdy, who come to us via the website,” he says. “ ey talk it up at weddings, in Trunk Club-branded cardboard box—and shipped to its new owner. Items the co ee shop, in nightclubs, everywhere they go. Because unlike Fight that don’t make the cut are shipped back; new knowledge of the client’s style Club, the rule is that you always talk about Trunk Club.” is gleaned from the process; and more pieces are sent his way. (About 30 percent of Trunk Club clients are styled in person at the River North loft, Trunk Club, 311 W. Superior St., Suite 504, 312.266.8700, trunkclub.com BOXING LOVES Trunk Club sends boxes of clothes to reluctant store shoppers around the country. Simply keep what you like, and send the rest back free of charge.

The Radar Biz

Amalie Drury

Join the Club With a recent $11 million cash infusion, Chicago’s Trunk Club prepares to more than double in size. It was the opposite of everything else that happened in 2009: A startup luxury retail business launched with just two employees and soon exploded, growing by leaps and bounds. And now, in the spring of 2012, Trunk Club is preparing to move to a new 30,000-square-foot space that can comfortably hold its 80-strong staff . The Chicago company has more orders than it can handle and a recent $11 million investment under its stylish belt to boot. How did it happen? Because the widely held conception that most men really, really don’t like to shop is true—and Trunk Club CEO Brian Spaly and his team have found a way to make them look good without dragging them to a department store. Trunk Club works like this: In a sprawling loft space in River North, about 40 attractive young women in heels and messy buns (along with a sparse contingent of guy’s guys and a team of nerdy IT types) sit at a series of long, connected desks from which they connect with men who want to revamp their wardrobes. After a series of questionnaires and a phone interview, the women (essentially hybrids of salespeople/ stylists) retreat to Trunk Club’s well-stocked racks, where they select designerbrand jackets, jeans, shoes, shirts, ties and more that are consistent with their client’s desired look (usually a refined but wearable take on the current season’s styles). They arrange each outfit in a little stack exactly as it should be worn, then turn the bounty over to the shipping department, where it is packed into a trunk—actually a very sturdy, Trunk Club-branded cardboard box—and shipped to its new owner. Items that don’t make the cut are shipped back; new knowledge of the client’s style is gleaned from the process; and more pieces are sent his way. (About 30 percent of Trunk Club clients are styled in person at the River North loft, where salespeople/stylists pick out clothes for them to try on while they sip beer and wine from partners like Finch’s brewery and Atlas Imports.) Venture capital firms like USVP (Silicon Valley), Greycroft Partners (L. A.) and Apex Venture Partners (Chicago) have listened to Spaly’s sales pitch (“Chicago was once known as the outfitter to the nation, with companies like Sears, Montgomer y Wa rd and Marshall Field’s all located here. I tell them we’re building the next great outfitter,” he says) and found the idea good enough to warrant large cash infusions. “When you can make guys excited about shopping for clothes, you know you’re onto something,” says Stuart Larkins, an angel investor in Trunk Club and current managing director of the i2a Fund. “I saw the early response f rom cu s tome r s— myself included—and it was phenomenal. Trunk Club clients are passionate promoters of the brand.” Larkins and the other investors were sold not only on the idea of Trunk Club but on Spaly himself. He came with a proven track record after building another men’s clothing brand, the New Yorkbased Bonobos, in which he remains a shareholder. Spaly says he’ ll grow the staff to nearly 150 by the end of the year, and he credits their determination and wordof- mouth prowess with much of the company’s success. “Their job is to promote the business by bringing in new customers and servicing the ones who come to us via the website,” he says. “They talk it up at weddings, in the coffee shop, in nightclubs, everywhere they go. Because unlike Fight Club, the rule is that you always talk about Trunk Club.” Trunk Club, 311 W. Superior St., Suite 504, 312.266.8700, trunkclub.com BOXING LOVES Trunk Club sends boxes of clothes to reluctant store shoppers around the country. Simply keep what you like, and send the rest back free of charge.

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