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Bellroy
Leather Wallet Industry - Slim and Convenient
Avijit Samanta
Analysis
Competitive Analysis
Core Purpose
Convenience
Special Purpose
Smart
Value Proposition
Focused only on “wallet” which is slim, convenient with minimalistic design
Target persona is very clear. Primary based on BAG principle (Behavior,
Aspiration and Goal)
Revenue
$4.4 M with funding from Fallshaw's startup investment group Investling
SWOT Analysis
Strength -
Core focus on problem of convenience and minimalistic design
Limited and focused persona (Male)
Founders core strength on industrial design and accessories
LWG-Gold rated leathers only; adhere environmental standards
Continuing...
Weakness -
Overall low number of employees fulfill the ever growing demand
Very low investment in Product division (2%) , Support (4%) and Research (2%)
Continuing...
Threats -
Lack of innovation in “special purpose” wallets like smart security, smart charging
etc.
It’s not IP heavy similar to other apparel business, easy for others to imitate or
clone
Being a niche target segment, the growth is limited to certain core users group
Conclusion
In last six years “Bellroy” became an international brand in 100+ countries. It has
footprints primarily in online and exclusive offline retail presence because of it’s
focus on core community of consumers. Product-Market fit has been established.
Bellroy is now looking to grow significantly in other markets specifically in
developing countries like China, India etc.
Recommendation
To grow in developing market like China, India etc. need to invest in,
- “Consumer Experience” side - any specific pain point, understanding demand,
target segment, market research, demographics, pricing etc.
- Customer service is one of the concerning is which need to be looked upon or can be
outsourced locally in matching time zone
- “Supplier Experience” - plan, design and build efficient supply chain to meet the
demand in target market
- “Product Experience” - To do the matchmaking between supply and demand
need to focus on following activities - features, design, cost analysis etc.
- “Operational Experience” - Bellroy can strategise on “standardization” on certain
quality, efficiency, productivity, TAT etc. and also it should focus on
“empowerment” of people in it’s manufacturing hub in India and China - training,
- “Golfing” can be one classy sport which can be made as niche sport segment
where “Bellroy” can enter with design fit
- “Travel Wallet” among “Jet-setters” and “All-rounder” can be made as secure
with technology like RFID. This will give value addition for those segments.
- Business or women professionals (blue colored) can be a new target segment
for “Bellroy”
- In Nepal there is small, but untapped specialized leather market which seems
to be struggling with low demand specifically from tourists. This is a
opportunity which can be explored and researched further with SMEs in
leather and designers
Other Suggestions...
Reference
Bellroy.com
bellroy.com/faqs
https://en.wikipedia.org/wiki/Bellroy
http://anthillonline.com/how-bellroy-went-international/
https://www.owler.com/iaApp/1188208/bellroy-company-profile
https://www.alibaba.com/showroom/bellroy-wallet.html
LinkedIn Insights
Bellroy   the analysis conclusion recommendation

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Bellroy the analysis conclusion recommendation

  • 1. Bellroy Leather Wallet Industry - Slim and Convenient Avijit Samanta
  • 4. Value Proposition Focused only on “wallet” which is slim, convenient with minimalistic design Target persona is very clear. Primary based on BAG principle (Behavior, Aspiration and Goal)
  • 5. Revenue $4.4 M with funding from Fallshaw's startup investment group Investling
  • 6. SWOT Analysis Strength - Core focus on problem of convenience and minimalistic design Limited and focused persona (Male) Founders core strength on industrial design and accessories LWG-Gold rated leathers only; adhere environmental standards
  • 7. Continuing... Weakness - Overall low number of employees fulfill the ever growing demand Very low investment in Product division (2%) , Support (4%) and Research (2%)
  • 8. Continuing... Threats - Lack of innovation in “special purpose” wallets like smart security, smart charging etc. It’s not IP heavy similar to other apparel business, easy for others to imitate or clone Being a niche target segment, the growth is limited to certain core users group
  • 10. In last six years “Bellroy” became an international brand in 100+ countries. It has footprints primarily in online and exclusive offline retail presence because of it’s focus on core community of consumers. Product-Market fit has been established. Bellroy is now looking to grow significantly in other markets specifically in developing countries like China, India etc.
  • 12. To grow in developing market like China, India etc. need to invest in, - “Consumer Experience” side - any specific pain point, understanding demand, target segment, market research, demographics, pricing etc. - Customer service is one of the concerning is which need to be looked upon or can be outsourced locally in matching time zone - “Supplier Experience” - plan, design and build efficient supply chain to meet the demand in target market - “Product Experience” - To do the matchmaking between supply and demand need to focus on following activities - features, design, cost analysis etc. - “Operational Experience” - Bellroy can strategise on “standardization” on certain quality, efficiency, productivity, TAT etc. and also it should focus on “empowerment” of people in it’s manufacturing hub in India and China - training,
  • 13. - “Golfing” can be one classy sport which can be made as niche sport segment where “Bellroy” can enter with design fit - “Travel Wallet” among “Jet-setters” and “All-rounder” can be made as secure with technology like RFID. This will give value addition for those segments. - Business or women professionals (blue colored) can be a new target segment for “Bellroy” - In Nepal there is small, but untapped specialized leather market which seems to be struggling with low demand specifically from tourists. This is a opportunity which can be explored and researched further with SMEs in leather and designers Other Suggestions...