Putting one’s money where one’s mouth is the ultimate dare in betting and business. The reasons are obvious. A bet means little without stakes while putting up a stake means taking a real risk. And in business? Most people who want to start their own business look for investors, bank loans, or both. Funding a start-up with one’s own money places the risk squarely on the would-be businessman’s shoulders.This is true no matter what the industry since the underlying principle is always belief, belief the idea is good; belief that it can be realized and confidence that the person or people who want to take the risk are capable of succeeding.In today’s world, where economic and political factors are uncertain, investing one’s capital in a new business takes fortitude. Yet this is exactly what Sonny Spriggs, son of Lusso founder Wayne Spriggs, is doing -- to the tune of two million pounds. His father’s example likely helped Sonny. Wayne started Lusso with a ten thousand pound overdraft and grew it into what is now a multi-million dollar business. However, there are no guarantees, especially when you’re eighteen and trying your hand at entrepreneurship for the first time, as Sonny is.The business Sonny founded, Etier, competes in the world of luxury leather goods alongside such established giants as Gucci and Hermes. To a large extent, the fact Etier appeals to consumers of luxury goods is a plus, since the market consists chiefly of consumers who are immune to the ups and downs of the macroeconomy. Few women in the wealthiest income bracket will be put off by what most of us would consider the unaffordable price of a handbag.The real question is how Sonny and Etier plan to compete with the giants mentioned above, as well as other established firms in the luxury leather field. The answer lies in a product line of leather accessories that are distinguished from other brands by what we’ll call the Spriggs touch, an unswerving commitment to the best materials allied with world-class design ideas that refine as well as expand the envelope. Hence Etier’s product line of watch cases, watch rolls, luggage, toiletry bags (and more) utilizes premium quality ostrich and crocodile leathers improving upon the old standards. Etier's quality is such that it is obvious these designs can only come from a boutique business with experience yet a fresh outlook targeting a luxury clientele.The latter is what, in the long run, we feel gives Etier a strong foothold. Giant businesses, even luxury ones, necessarily find their level in quantity since they need sales volume to stay afloat, whereas boutique businesses, of which Etier is a prime example, can take chances and be daring while at the same time quickly adjusting to the changing consumer tastes of the marketplace.To keep up with the latest iteration of the Etier and Spriggs family tradition of risk-taking, design, and marketing savvy, visit...Etier’s Instagram.
June 17, 2023 | 05:49 PM