In a world where mass production is the norm and cheap products are king it seems backwards to start a company founded to deliver the opposite– small batches of bespoke luxury goods. That is exactly what Loyal Stricklin delivers. The husband-and-wife-owned company seeks out the highest quality materials and most skilled domestic labour they can find to bring their leather and canvass goods to life. The price is an afterthought, dictated by the high cost of the bespoke production model they follow.
The above backpack is of a quality unmatched by mass-produced alternatives, even designer options. The price of this quality weighs in at $495. If this seems high, it should not. Why? Because Loyal Stricklin has trouble maintaining inventory given how many they sell. They have successfully built a brand for the market outliers, the consumer who wants nothing but the best leather and canvas goods to whom price is just a number.
Yea they accessed a market that is not trying to produce for the masses. The focus is on the wealthy individual who has the money to spend on the higher quality goods. They are willing to spend the extra dollar for that higher quality. It is not always about saving the consumer a few dollars.
This is a good example of identifying an opportunity that many have missed. Most people think that backpacks are just a method of carrying things and people want them as cheap as possible without still looking junky. It’s cool to see how they were able to discover this market and capitalize on it. Who would have thought that you could charge $500 for a backpack?