Cheers! Yoogi’s Closet, Seattle’s premier online luxury goods reseller, is celebrating 10 years in business. To celebrate, Yoogi’s Closet is marking the occasion by donating a portion of sales for the month of August to Mary’s Place, a non-profit organization that provides emergency shelter to homeless families. It’s our 10 Year anniversary celebration and it’s happening all month long!
Today on our blog, our co-founder wanted to share a few words to mark this special occasion. Without further ado, here’s Yoogi to give us a look back at how the company started:
Hi, I’m Eugenia. Yoogi, for short.
Over a decade ago, I was vacationing with my husband Simon Han in the fashionable Ginza shopping area of Japan when inspiration struck. We noticed that the streets were loaded with high-end consignment stores that felt like an actual Louis Vuitton store, not the consignment shops we knew back home. What about an online version of those consignment shops that buys and sell pre-owned luxury goods?
Simon and I first launched Yoogi’s Closet on August 8, 2008. Today marks 10 years in business.
The company was named after my childhood nickname “Yoogi” and we added “Closet” as a nod to the early days of the company when we launched the brand using inventory from my own closet. As a bootstrapped startup, we needed early funding to get our e-commerce site off the ground, so Simon sold his Ferrari to fund the launch of the company.
We set out to change the way people buy and sell luxury handbags online. We wanted the experience to be curated and luxurious, just like walking into a boutique. Finally, we believed that buying online should be as safe and satisfying as buying new.
With zero outside funding and a decade under our belt in business, we’ve been successful at evolving to stay ahead of other luxury resale websites by providing the best shopping experience in the online consignment space. We’re constantly making updates to our site and our customer experience: in-house authentication, free shipping and returns, a dedicated team of merchandisers to make sure every product is described just as it appears in real life, one-click sell back, and of course, our Authenticity Promise.
Over the years, we’ve built a solid client base of savvy customers who collect designer labels, specializing in hard-to-find Hérmes Birkin bags, iconic Chanel quilted flap bags, and Louis Vuitton limited edition pieces. Our average sales order is over $1,000 per transaction and our 2018 revenue projections are at over $20 million in sales… but we couldn’t do it without our clients.
We have the most loyal clients I’ve ever experienced in all of my years working in retail. Many of our clients are friends and family who have been with us since we were selling Louis Vuitton bags out of our walk-in closet. Many are from all over the world: from Seattle to Singapore. Many get on to our website within seconds of our daily upload (we don’t even know how you do it!).
We’ve been featured in Elle, Lucky Magazine, Allure, and The Wall Street Journal, nominated for GeekWire’s Bootstrapper of The Year Award in 2014, and was awarded Puget Sound Business Journal Fastest Growing Company 5 years in a row. Not only that, but our closet has already outgrown two office spaces.
We spend our days authenticating, restoring, merchandising, photography, and shipping authentic handbags, accessories, and clothing to people all over the world, but I like to think our real mission is helping people look and feel more beautiful.
Social Responsibility Matters: How We Give Back To Our Community
We also have another mission: giving back to our community and helping the women in it. We’re proud to support local non-profit organizations in the community we work and live in. Over the years, we’ve spent our time as a company volunteering at organizations like Northwest Harvest and donating to causes we believe in like KEXP, Red Cross, Rainier Scholars, Soles 4 Souls, and The Susan G. Komen Foundation.
For the entire month of August, a portion of our sales will go to support Mary’s Place, which supports women and families in need by providing homeless and emergency shelters in the Puget Sound area. Their mission is to empower homeless women, children, and families to reclaim their lives by providing shelter, nourishment, resources, healing and hope in a safe community. My hope is that Yoogi’s Closet can help someone in need find a home to call their own.
That’s right, your next handbag purchase will help stop homelessness. Tell your friends and family.
Thank you for your support, whether you’ve been with us for 10 years or you’ve just discovered Yoogi’s Closet. Cheers to many more years of limited editions, handbag hauls, and scoring an “almost new” LV for a fraction of the price.
Eugenia “Yoogi” Han