#352 - Building a Profitable Timeless Brand: 20 Years, 8 Figures, 100% Bootstrapped with Parker Thatch

Feb 13, 2025

Irene Chen and Matthew Grenby, the co-founders of Parker Thatch, share their journey of bootstrapping a luxury brand to 8-figures over 20 years. Irene, with a rich fashion background from Donna Karan and Calvin Klein, and Matthew, skilled in tech and marketing, discuss their transition from e-stationery to fashion. They touch on pivotal lessons in inventory management, the significance of flexibility, and the importance of understanding market timing. Their insights on building community and adapting business strategies are both inspiring and practical.

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ANECDOTE

From E-Stationery to Home Goods

Parker Thatch started as an e-stationery company in 2000, inspired by email stationery.
It pivoted to physical stationery and home goods after the e-stationery idea failed.

ADVICE

Pivot and Timing

Keep iterating and pivoting your business if the initial idea doesn't work.
Market timing is crucial; being too early can lead to failure even with a good product.

ANECDOTE

The Mimi Bag Origin

The company's original name, "iomoi," was hard to spell and pronounce, so they changed it to Parker Thatch.
Their first handbag, the Mimi bag, was created resourcefully with help from a dry cleaner who had a fashion degree.

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Irene Chen and Matthew Grenby are the co-founders of Parker Thatch, a luxury handbag and accessories brand they bootstrapped to 8-figures over the course of 20 years. Matt’s expertise spans tech, design, and marketing, while Irene brings deep fashion industry knowledge from working with powerhouse brands like Donna Karan and Calvin Klein.

In this episode of DTC Pod, Matt and Irene share how they navigated the shift from an e-stationery startup to eventually finding product-market fit with their signature luxury bags. They discuss key lessons learned in bootstrapping—the importance of market timing, how to manage inventory risks, and why flexibility and systems are critical when growing a brand.

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On this episode of DTC Pod, we cover:
1. Founding and Evolution of Parker Thatch
2. Initial Business Concepts and Pivots
3. Strategies for Managing and Allocating Inventory
4. Importance of Flexibility in Business Operations
5. Bootstrapping and Capital Allocation
6. Building Systems for Scalability
7. Marketing and Demand Generation Strategies
8. Community and Customer Engagement

Timestamps
00:00 Matt and Irene's backgrounds before Parker Thatch
06:55 Starting an e-stationery business in 2000
07:43 Pivoting to selling physical stationery and home goods
9:00 Lessons on market timing and pivoting when starting a business
11:51 Changing company name from iomoi to Parker Thatch
13:52 Creating Parker Thatch's debut handbag
18:19 Bootstrapping, capital allocation, inventory decisions
22:08 Why early business success depends on flexibility and testing
25:53 Introducing leather bags and streamlining production
29:10 Why small businesses fail without systems
32:29 Shifting to systems thinking to enable business growth
35:07 Marketing strategies to drive customer demand
37:01 Building community and brand identity around "functional luxury"
42:34 Relationship dynamics as husband and wife co-founders
45:55 Key focuses for 2025 and beyond with PTTV
47:48 Where to find and connect with Parker Thatch

Show notes powered by Castmagic

Past guests & brands on DTC Pod include Gilt, PopSugar, Glossier, MadeIN, Prose, Bala, P.volve, Ritual, Bite, Oura, Levels, General Mills, Mid Day Squares, Prose, Arrae, Olipop, Ghia, Rosaluna, Form, Uncle Studios & many more.

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• #219 JT Barnett: The TikTok Masterclass For Brands

• #223 Lauren Kleinman: The PR & Affiliate Marketing Playbook

• #243 Kian Golzari - Source & Develop Products Like The World's Best Brands

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Irene Chen and Matthew Grenby - Co-Founders of Parker Thatch
Blaine Bolus - Co-Founder of Castmagic
Ramon Berrios - Co-Founder of Castmagic