CRV hits hard Mon Purse. The Australian leather goods brand has been wound up. Quite a serious blow indeed for the young business whose suppliers, as highlighted on the company’s website, are also, among others, some Italian tanneries.
Achieving success very quickly
Mon Purse was first established in 2014, as a start-up company, by Lana Hopkins and Andrew Shub. Over a span of just two years, the brand quickly enjoyed a great success so much so that top managers, as reported by smartcompany.com.au, decided to set a 10-million-dollar turnover goal for that year. Then the booming trend slowed down but, in the meantime, Mon Purse successfully rallied some important investors, who allocated, in terms of funds, around 9 million dollars. Meanwhile, in 2018, Hopkins handed in his notice and resigned from his post as Chief Executive Officer, therefore leaving the company.
CRV hits hard Mon Purse
Coronavirus outbreak, most of all, supposedly affected and hit Mon Purse. Since the company could not cope with difficulties, as reported by smartcompany.com.au, it was inevitably wound up, last December 11. As emphasized by smh.com.au, Mon Purse payments in arrears reportedly amount to about 200,000 dollars: for the records, some of their suppliers have already taken legal action. “We are working together with the company’s chief manager to promptly carry out an assessment of the brand’s financial situation; at the same time, we are looking for some signs of interest”, commented on the portal Andrew McCabe, who has been appointed to manage and oversee the wind-up process.
Leather made in Italy
Mon Purse has made clear, on its own internet website, they use “exclusively top-notch quality European leather” coming “from the most renowned Italian and Turkish tanneries”. The Australian brand makes use of top-quality leather, of various origin. Among others, they also use vegetable tanned leather as much as crocodile and ostrich embossed skins.