Happy 10 Year Anniversary Yoogi’s Closet!
I’ve spoken a lot online about my experience working as a full-time employee and now consultant for Yoogi’s Closet. Today, I wanted to talk about the company that I admire and celebrate their ten years in business. That’s a huge feat for any company, but especially one that has received zero outside funding or business intervention.
On August 8, 2008, Yoogi’s Closet launched to change the way people buy and sell luxury handbags online. They wanted the experience to be curated and luxurious, just like walking into a boutique and that buying online should be as safe and satisfying as buying new.
Yoogi’s Closet was named after the real Eugenia Han, a smart, business-savvy woman who began her career as a fashion Buyer. The name comes from her nickname, “Yoogi” and added “Closet” as a nod to the early days of the company when they launched the brand using inventory from their own closet.
With zero outside funding and a decade in business, Yoogi’s Closet been successful at evolving to stay ahead of other luxury resale websites by providing the best shopping experience in the online consignment space. And trust me, I’ve tried shopping the other resellers. Bar none, Yoogi’s Closet does it best. They are constantly making updates to their site and their customer experience: they offer 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 (that was my old job), and of course, their Authenticity Promise.
Nothing is worse than being fooled by a counterfeit bag; Yoogi’s Closet makes sure that never happens to you.
I log on every single day to check latest arrivals, and usually by the time I’ve logged on, products have sold out within minutes of being uploaded. I know from first hand experience that customers log on every single day to check what’s new; that’s loyalty.
Over the years, they’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. Their average sales order is just over $1,000 per transaction and their 2018 revenue projections are at over $20 million in sales… which, again, super impressive for a business with no outside funding and no board of directors to appease.
They’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.
Read about Yoogi’s Closet 10 Year Anniversary
Details about the business
- Yoogi’s Closet: YoogisCloset.com
- Online luxury reseller of pre-owned authentic fashion accessories
- Lake City, Seattle, WA
- 10 years in business (launched August 8, 2008)
- Founders: Simon and Eugenia Han
- Featured in Elle, Lucky Magazine, Allure and the Wall Street Journal
- Puget Sound Business Journal Fastest Growing Company: 5 years in a row (2011, 2012, 2013, 2014, 2015)
- Geekwire’s Bootstrapper Of The Year Nominee (2014)
- Inc 5000’s 2013 Ranking: #1405
Over the years, I collected quite a few pictures of handbags from the collection at Yoogi’s Closet while I worked in-house. Please enjoy these beautiful creations.