Making Millions Selling Mens Rings
John Ruggiero was shopping for a wedding band in 2016 and realized there was no selection, they didn’t have his 16.5 ring size and they cost too much. He ended up looking online and ordering a few cheaper rings that came in a plastic bag. The experience left him thinking there was room for improvement.
So his wife Michelle and him decided to make it better and started Manly Bands in November 2016.
They started with 20-30 styles on the website at launch and had sizes 5-17 with half sizes in between, most men are a size 9-13.
They started with an online marketing budget of $30-50 per day and all of a sudden they got their first purchase. They thought it was a bit of luck. Today it’s different. It’s more competitive and they’ve seen their cost to acquire a customer triple in the six years since they started.
But the plan worked. In 2017, their first full year of operation, they hit “low seven figures” by 2018 they were “mid-seven figures” and by 2019 they were already in the $10 million plus per year range.
There’s no report on sales after that. But they’ve done partnerships with Jack Daniels, Lord of the Rings and were around 400 styles before they decided to bring it back to the 200’s to make it an easier choice.
A few other interesting points from the articles and pods out there:
The business is completely bootstrapped
Started in their garage, think you should do fulfillment in house at the start, then go 3PL, then go in house when it makes economic sense due to scale
They had a 20% exchange rate, mostly due to sizing issues
Jack Daniel barrel license saw 2x sales
30% is ready to ship with the other made to order
They do meteorite and dinosaur bone rings
40% of site traffic is organic
After three years they tried to keep their CPA under $100 (likely higher now)
Payment plans increased conversion on custom and ready to ship rings
They ship silicone bands with each order for free
Ridge recently launched rings and quickly hit $10 million in sales in nine months. I think this is a good space with a few issues. Sizes/returns is definitely an issue. But beyond that… You have a targeted audience, if you’re getting married you’re buying a ring.
Most importantly I remember my ring purchase. After my wife's engagement ring with all the crazy diamonds (and price tag) mine was a rounding error. This comparison to a women’s ring, instead of the actual cost of the men's ring to produce is a huge opportunity.
If I was going to compete in this space I would create limited edition rings. Partner with designers. Attach a story to each. And price higher. If you’re getting married and there’s a similar ring for $400 or $600 the natural inclination will be that the $600 is a higher quality ring. And what do you want to wear for the rest of your life?
Sources:
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