Feel the Heat
Opportunity: Sunglasses
Stylish sunglasses are today's ultimate must-have accessory. This sizzling market grew 9.1 percent in unit sales from 2005 to 2006, for total retail sales of more than $2 billion, according to the Sunglass Association of America. High-end designer sunglasses are driving the trend, says Tibor Gross, president of the SAA: "People are paying a lot more attention to sunglasses. They're a status symbol and a fashion accessory."
From upscale brand names to more affordable lines, various entry points into the market are open to entrepreneurs. Veteran sunglasses entrepreneurs Jack Martinez, 42, and Dan Flecky, 51, made their mark with Black Flys, an Irvine, California, company founded in 1991 that earned about $10 million in sales last year. Their signature shades cater to a rock 'n' roll, youth and sports clientele. Black Flys has even added Fly Girls, a line for women, and plans to branch out with a new prescription line this year. "Sunglasses are a crazy deal--there are so many brands now," says Martinez. But don't let a competitive market deter you: Success means finding your own style and brand, he says.
Slipping on a great pair of shades is easy, but if you want to become the next sunglass mogul, consider these surefire startup tips: - Be smart about eye health. A fashion accessory, yes, but sunglasses are also a health accessory. Gross notes that entrepreneurs need to keep abreast of the latest in UV protection. He also sees more and more designers adopting polarized lenses into their fashion sunglasses, which help reduce glare and can help with driving and sporting activities.
- Research and develop your sunglass line extensively. You want to be an absolute stickler for quality, says Martinez. Taking extra care in your early days can prevent costly product defects later. Black Flys, whose sunglasses are often worn by snowboarders, skateboarders and the like, road tests its designs comprehensively before selling them to the public.
- Develop a close relationship with your manufacturer. You may be the design genius, but you'll need a trusted partner to bring your vision to market. Martinez recalls searching for a manufacturer for six months before finding the perfect match who could deliver on all the company's desired specs. "You almost have to be in bed with your factory, too," says Martinez. "Fly to China or fly to Italy and work with them."
- Consider private-label business. To augment their successful consumer retailing business, the Black Flys founders made a profitable venture out of private-label retailing as well. They've developed sunglasses for ESPN, Hard Rock Cafe and Jesse James of West Coast Choppers, to name a few.
- Don't fear the classics. Being up on sunglass trends is important, absolutely, but throw in a couple of classic styles (or even revamped takes on classics) to keep your brand relevant through ever-changing fads. The co-founders of Black Flys have found long-term success with their trademark Black Flys silhouette. Says Martinez, "Sometimes you can jump on a trend, and all of a sudden it's gone."
|
|