On this episode, we talk to Adriel Darvish,) Co-Founder and CEO at Switch), a luxury handbag and jewelry rental membership service.
The idea for their company originated from Adriel observing his mother’s experience as a jewelry designer. Witnessing a friend return a necklace after flaunting it at a party sparked the realization that jewelry, being durable and reusable, was ideal for a rental model. He and his brother launched an MVP version of Switch, which received overwhelmingly positive feedback.
Their early relationships and vendor network played a crucial role in the company’s success. By viewing luxury vintage accessories as valuable assets rather than traditional inventory, they have been able to secure financing and capitalize on the rental business model. This has led to impressive returns and appreciation of their products over time.
They focus on creating an exceptional offering that excites and engages their members, leading to significant organic growth and referrals, which account for about 65% to 70% of their customer acquisition.
Adriel plans to build and expand the select membership levels, catering to higher-tier clients with a $4,000 average price point, and he has potential plans for even higher tiers in the future.
Resources mentioned:
Adriel Darvish -https://www.linkedin.com/in/adriel-darvish-1187a28/
Switch | LinkedIn -https://www.linkedin.com/company/join-switch/
Switch | Website -https://www.joinswitch.com/
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