Company and Competitor Report: Psycho Bunny
Overview
Psycho Bunny is a dynamic apparel brand renowned for its daring logo and high-caliber clothing, specializing in men's and kids' fashion. Established in 2005 by Robert Godley and Robert Goldman, the brand is celebrated for its unique polo shirts and has expanded to include golf apparel, swimwear, and accessories. Psycho Bunny is guided by a strategic objective to establish itself as a global leader in the fashion industry.
Leadership
Anna Martini serves as the President and Chief Executive Officer. With over three decades of experience in retail and finance, she took the helm in January 2023. Her previous roles include EVP and CFO at Groupe CH and President of Groupe Dynamite Inc. She is also a director at Ivanhoé Cambridge and has been associated with notable boards like Cirque du Soleil Entertainment Group. Martini emphasizes enhancing customer experience and brand expansion.
Alen Brandman became the owner of Psycho Bunny in 2021 and is the CEO of Thread Collective. He focuses on expanding Psycho Bunny's presence in North America and Europe, prioritizing direct-to-consumer channels.
Market Presence and Expansion
Psycho Bunny has been on an aggressive expansion path, tripling its North American retail locations by 2022, with plans to increase the number of stores to over 70. It operates in prominent locations with partners like Simon and Brookfield and has partnerships in Japan and Latin America, looking to extend into Europe.
Product Line and Strategy
The brand's offerings range from signature polo shirts to casual and golf apparel, emphasizing bold designs with premium quality. Polo shirts account for approximately 30% of sales, while the direct-to-consumer model, comprising 70% of total sales, highlights a strategic pivot from a traditional wholesale model.
Financial Performance
In 2019, sales were $40 million, and recent figures suggest a tripling in sales due to the focus on direct sales and expansive retail strategy. E-commerce sales have doubled from 2020 to 2021, reinforcing the brand's transition to direct consumer engagement.
Notable Partnerships
Psycho Bunny has secured a multi-year partnership with tennis star Alexei Popyrin, boosting brand visibility. Additionally, Franklin Benjamin Elman has been appointed as the creative director, underlining the brand's commitment to innovative design.
Competitors
Mint Showroom
- Founded: 2015
- Location: New York City, with showrooms in Los Angeles, Paris, and Milan.
- Focus: Luxury resort-wear representation and distribution.
- Website: [Mint Showroom](https://www.mint-nyc.com)
Gitman Bros. / Individualized Apparel Group
- Founded: 1978
- Headquarters: Ashland, Pennsylvania
- Specialization: Manufacturing high-end shirts and ties, recently shifted production from Ashland to Tennessee and New Jersey.
Vince Holding Corp.
- Established: 2002
- Headquarters: New York, New York
- Subsidiary of P180, 579 full-time employees
- Products: Luxury garments like cashmere sweaters and silk blouses
- Website: [Vince](https://www.vince.com)
Bonobos
- Founded: 2007
- Headquarters: New York, New York
- Model: E-commerce focused with approximately $126.4 million in revenue
- Emplyees: 512
- Key Range: Men’s apparel with a focus on fit
- Website: [Bonobos](https://bonobos.com)
True Religion Apparel, Inc.
- Founded: 2002 by Jeff Lubell and Kym Gold
- Headquarters: Vernon, California
- Revenue: $467.3 million
- Offering: Premium denim and sportswear
- Website: [True Religion](https://www.truereligion.com)
Market Insights
Psycho Bunny competes in the premium menswear market, evident through pricing of iconic polo shirts around $98 to $100 and a reported annual revenue of $198.4 million. The competitive landscape features brands focusing on quality manufacturing, e-commerce prowess, and luxury essentials. Understanding these dynamics is essential for navigating and leveraging Psycho Bunny's competitive advantages.
