In response to the women’s online eyewear brand, Rivet & Sway, shutting down,
as reported in VMail, its CEO Sarah Bryar discusses the reasons for the company’s closing.
There are many factors that influenced this tough decision to close the company. We had been doing quite well with our target audience: stylish women who loved the quality and design of our collection, motivating price structure ($169 for first pair, $99 for each additional), and excellent customer service. Our customers loved Rivet & Sway, as evidenced by daily "love notes" in my inbox and a consistently high Net Promoter Score in the low 90s.
The biggest challenge we faced was the cost of the physical home try on service. Women want to try frames on before purchasing, but it's an expensive marketing program to ship frames back and forth. Our economics were improving, and we had plans to introduce hyper-efficient showrooms to attract customers not yet shopping online, but our progress wasn't strong enough to attract additional capital. We had an option on the table to strip back our team and value proposition, but I felt it would compromise our ability to differentiate on service and quality. And so, we made the hard decision to close the company on a high note.
The customer response to our announcement has been overwhelming, and we are so thankful that we had the opportunity to serve our customers with stylish affordable specs. Here are just a few quotes from our fans:
Say it isn't so! My last 3 (or 4?) pairs of glasses are from Rivet and Sway. I loved the styles, the people, and the mission. You will be missed!
A heartfelt thanks to the rivet and sway team - such a creative bunch! what fun, stylish, and quality glasses you delivered that have allowed women to feel even more beautiful when wearing them.
Really? Over 26,000 Facebook fans, a growing word of mouth fan base, and an effective online ad campaign that stalks me on every website that I visit...and you are still going to close up shop??? Please tell me that someone in the company tried to at least sell this business to another owner or sought out some additional investors prior to closing your doors. Warby Parker just doesn't do it for us ladies. You really had a niche market here. There was value in what your company was offering.
I am as sad as the time my favorite brunch place suddenly closed... Your service and product were as good as an expertly poached egg on a bagel with cream cheese, hollandaise, and capers. I'm sorry to see you close. I hope nice things happen for everyone who worked at Rivet & Sway.
At the time of our closing, Rivet & Sway had 14 employees, but there have been countless contractors, vendors, advisors, and former teammates who have helped us along the way. All are incredibly talented, and I have no doubt they will all go on to do amazing things.
I'm incredibly proud of all that we accomplished. We built an authentic brand that women loved and appreciated. I hope that we've inspired other companies to carry the torch to make buying glasses a delightful experience. It's been a thrilling ride, and I personally have no regrets. I would do it all over again in a heartbeat!