Minnow, the Charleston, S.C.-based family lifestyle and swimwear brand, is getting into the cashmere category.
The brand will launch a cashmere collection on Tuesday, retailing from $148 to $372.
“We are celebrating our 10th anniversary this year, which is really exciting, and our knits are a category, especially for women, that have done extremely well,” said Morgan Smith, founder and chief executive officer. “We’ve seen incredible growth with our women’s business, and it just felt like a natural extension to do an elevated fabric — cashmere. Our customer has been asking us for more with women’s.”
Minnow, which is close to 90 percent direct-to-consumer, does about 45 percent of its business with women’s. Morgan said its women’s program is up 114 percent year-over-year, and women’s apparel specifically this year is five times last year online. The brand has one freestanding store on King Street in Charleston.
The pink cardigan from Minnow.
Courtesy of Minnow
“It’s been really intentional. I actually feel there’s been a lot of pent-up demand. I have intentionally not grown women’s and really make sure we know who our customer is,” she said. “It’s been children first, and building out the family, and then listening,” said Smith. “And our women have been asking for more and more from us for a really long time. And this year we decided to double the count, and then we started chasing orders as we needed repeat business from spring, like not keeping up with it. So it’s been really exciting.”
This month, they will be offering three knit sweaters, including their Breton striped sweater that has become a signature. There is one cardigan and two crewnecks in cashmere. There’s a blue with a contrast green tipping and a Breton stripe, along with a gray cardigan with navy tipping. They also have a matching Breton striped cashmere cardigan for children, and a pink cashmere cardigan for girls.
They plan a follow-up après-ski collection. “This is our entrée into the fall,” said Smith.
“We really see ourselves as a resort travel brand, and so where our families show up is ski and swim, and so in the winter, we really want to be in those destinations with them,” said Smith.
On their website, they have a full-price customer, and eight out of 10 orders are sold at 100 percent full price. They have sales three times a year, but then it goes back to full-price selling after the weekend.
She said they maintain a very low inventory. “That is part of why the women’s business was slower and thoughtful in terms of releasing more skus because we just really wanted to have a handle on our customer and the business,” she explained.
While Smith declined to reveal the volume of the business, she said the company is self-funded and they own 100 percent of it. She said she has three big seasons — spring, summer and resort. And they do a monthly drop in some capacity, whether it’s a capsule or a collaboration.
A look from Minnow.
Courtesy of Minnow
Overall, swimwear is their biggest category, and they’ve expanded into apparel, cover-ups and more resort. “And of course, our knits. People are wearing our knits traveling and over their swimsuits. It’s really part of the whole resort lifestyle,” she said.
She said that children’s is their biggest category, and specifically swim. The brand starts at 0 to 6 months and goes up to 13/14. Swimwear is made in India and Vietnam, and pajamas are manufactured in Peru.
She said the women’s looks coordinate with the children’s looks. “It doesn’t need to be an identical look, it can really just flow together. It’s not a mommy and me matching moment,” she said.
Asked about the challenges of being an independent brand, she said some companies struggle and feel the need to expand into wholesale and retail. She said the fact that she’s been able to own her own brand means she doesn’t have pressures from outside lenders and can make thoughtful strategic decisions. “Our repeat customers make up 70 percent of our overall revenue, which tells us customers are coming back again and again,” said Smith.
