Mignonne Gavigan
Launched in 2014, Mignonne Gavigan has amassed an international community of playful and bold jewelry lovers. The brand was built in hopes that each jewelry piece would bring joy and happiness to the wearer, with the ultimate goal of cultivating a community of confident women.
Problem
Like any other brand, Mignonne Gavigan experienced business challenges when COVID hit in 2020. They didn’t achieve as much revenue as they had initially forecasted, with some of their wholesalers pulling out and canceling large orders. Furthermore, consumers were beginning to transition to a work-from-home model and were not in search of bold, statement jewelry. Ultimately, the team was searching for a more predictable means of growing their business.
Solution
When the Mignonne Gavigan team began working with Clearco to fund their inventory invoices, they immediately recognized how helpful the fixed fee repayment was - it provided them with the predictability they were in search of and allowed them to retain more cash in strong sales periods. Clearco also allowed them to take bigger bets by purchasing larger quantities of inventory. This impacted the company in two major ways - 1) it strengthened their relationship with their supplier, and 2) it made measurable improvement on their margins due to the discounts involved with placing larger orders.
Partner Quotes
Sperling
“It’s really nice to know exactly what you have to pay back with Clearco. It allows us to retain more cash when it comes to strong sales periods.”
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