The Foundr Podcast with Nathan Chan 287: How July Founder Richard Li Grew His Luggage Company From $0 to $5 Million in 1 Year
Richard Li puts customer service above all when it comes to his luggage company, July.
This unfaltering commitment is why he personally makes house calls to address complaints and why he recently hand-delivered packages after realizing that some customers wouldn’t receive the luggage they ordered in time for the holidays. But this high level of service is only a small piece of Li’s success story with July.
Li, who has previous entrepreneurial experience from his furniture company Brosa, has also figured out a “magic” formula for manufacturing, marketing, and selling physical products. He used this knowledge to grow July from $0 to $5 million in revenue in just a year. And now he’s looking forward to opening up additional retail stores, introducing more products, allowing for more luggage personalization, and expanding into international markets in 2020.
If you want to learn more about what it takes to launch and scale a business that revolves around a physical product, be sure to give our interview a listen!
Also be sure to check out our latest online course, Ecommerce Masters, where Richard Li is one of the five instructors teaching advanced ecommerce skills.
ATTENTION: We're excited to announce that Richard Li has partnered with Foundr to teach one of the modules in our course, Ecommerce Masters. Get on the Free VIP Waitlist to be notified when we open enrollment!
Key Takeaways
- The opportunity Li saw in Australia’s furniture market that led him to launch Brosa
- Why he stepped back from Brosa after five years to focus completely on his new direct-to-consumer luggage company, July
- An overview of July’s funding journey, go-to-market strategy, and first sale
- The journey from $0 to $5 million in one year
- How to find a manufacturer that can grow with your company
- Why Li offers July customers a 100-day trial and lifetime warranty
- The rules of product development that Li follows
- Why Li decided to follow the direct-to-consumer trend of opening up a physical store
- July’s four growth pillars for 2020
- Li’s best advice for entrepreneurs building a business around a physical product