Young entrepreneurs have carved out a niche market with a socially conscious handbag brand that sells bags by color to support major causes, including breast cancer, AIDS/HIV, diabetes and Alzheimer's disease, Julie Earle Levine reports.
Angela Lee and Roi Lee (not related), a couple who are in their 20s, launched their namesake handbag company online in February of last year after attending a fashion show where everyone was wearing red to support HIV/AIDS awareness.
They researched other colors, and found there were great and meaningful causes to support.
The duo invested $30,000 of their own money to launch the brand. The goal in 2014 is to triple last year's sales — and they are looking for angel investors.
The company has partnered with 11 charities to promote the popular bags. They are working with about 10 online retailers that focus on philanthropy, like ShopEthica.com and Modavanti.com. Other retail partners are Fab.com and Bluefly.com.
A New York pop-up store (54 Crosby St. in Soho) that opened Nov. 1 and runs through Dec. 28 is attracting big interest for the bags, mostly priced under $100. The most popular cross-body style is $65.
The company donates a flat $5 of each sale, which ranges from a 3 percent to a 10 percent donation, depending on the bag's price.
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