NEW YORK, United States — Galvan launched in 2014 aiming to fill what it saw as a gap in the evening wear market: timeless luxury gowns, mostly priced under $2,000. This month, the London-based brand hopes to fill a similar gap in the handbag category.
On August 10, Galvan will unveil its first handbag capsule collection at Neiman Marcus and Forward by Elyse Walker. The collection will include three styles of clutches in multiple colour options. In the fall, the company will launch a wider handbag collection. Pricing will fall between $450 and $895.
“There aren’t really anything like this new line,” said April Koza, Vice President at Forward by Elyse Walker. “There bags from Saint Laurent, Valentino and Gucci that are two to three times the price of these Galvan ones, or there are [more affordable] bags from Staud and By Far that aren’t necessarily dressy and meant for evening.”
After the initial launch, Galvan handbags will be available at its other wholesale partners including MatchesFashion and Net-a-Porter. This year, Galvan is expected to reach $10 million in revenue, according to Co-Founder Katherine Holmgren. So far, wholesale comprises the majority of its sales — 70 percent — but the chief commercial director hopes to grow the brand’s direct-to-consumer channel, which includes e-commerce and two stores in New York and London.
“When we started the ready-to-wear line six years ago it really developed out of a need we all shared: evening wear that felt clean and cool and modern and of a certain price point,” Holmgren said.
“That same need we felt in evening bags as well,” she added, “Evening bags that are classic and timeless and luxury but not super expensive, fun to wear but not kitschy.”
Galvan’s handbag line has been a year in development, Holmgren added. It’s working with a factory in Florence to manufacture the silk and satin bags.
The handbag market is slated to grow 7 percent between 2019 and 2023, a June study by Technavio found.