Men's Accessory Holdco

Sean Frank plans to build a portfolio of accessory brands and services after exiting Ridge Wallet, aiming to create trend-relevant ecommerce brands with hired service providers running the operations.

Key Points:

• Current Success with Ridge Wallet:

  • Started with wallets in a $10 billion annual TAM
  • Expanded into other categories like backpacks, phone cases, and men's wedding bands
  • Wedding bands became their highest margin, fastest growing product line, doing 8 figures in the first year
  • Wallets now represent about half of revenue, with other products making up the other half

• Exit Strategy:

  • Not planning to be the "long-term shepherd" of Ridge Wallet
  • Expects to sell to one of the ~10 strategic acquirers in the industry
  • Goal is to net $100 million from the exit

• Future Business Model:

  • Create a portfolio of brands and services (like a "little PE" or family office)
  • Launch multiple "weird little ecommerce brands" focused on trend relevance
  • Hire service providers to run these businesses

• Strategy for Trend-Based Businesses:

  • Target growing markets where "you can be average in a growing market and grow very fast"
  • Focus on "trend surface area" - creating products in trending categories
  • Continuously pivot and expand product lines as trends evolve
  • Example: If in bone broth business, expand to bone bars, then bone supplements

• Inspiration from Luxury Holdcos:

  • Modeled after LVMH, Richemont (owns Cartier, Mont Blanc), and Tapestry (owns Coach)
  • Sees opportunity in men's accessories where existing billion-dollar businesses have "nobody loyal or passionate about that"