Armadio

Armadio is a fashion e-commerce company selling luxury goods made in Italy.

According to the company, Armadio imports “the luxury of Italy without the markups.”

Italy makes some of the finest leather goods in the world. But by the time these products reach the U.S., retailers have driven their costs up significantly.

Armadio provides a solution to this problem. The company purchases high-end luxury products from Italian artisans and brings them to the U.S. directly. This enables customers to purchase these goods for a fraction of the price of competitors.

The market for fashion luxury products is massive. According to Ernst & Young, a professional services company, fashion luxury products is a $420 billion global market, and it's expected to reach $500 billion by 2020.

Recently, several companies in this market have experienced successful exits — for example:

In January 2018, Swiss conglomerate Richemont acquired online luxury retailer Yoox Net-a-Porter for $3.3 billion…

And Farfetch, a luxury e-commerce retailer started in 2007, went public in September 2018, and saw its price jump 53% in its first day of trading.

Armadio was created in 2016, and began selling high-end bags, shoes, and accessories.

One month after launching, the company completed Y Combinator, an accelerator for early-stage companies. Y Combinator has previously invested in successful start-ups including Airbnb, Dropbox, and Reddit.

After completing the accelerator, Armadio began generating nearly $100,000 in monthly revenue. Then, in 2017, the company went on hiatus to re-brand and create a new website.

Last month, Armadio launched its first wholesale campaign, and this month it's preparing to launch its first branded online collection.

The company is led by Founder and CEO Matteo Gemignani. Gemignani has a background in the fashion industry, and previously achieved two successful exits.

Team Background

Matteo Mattia - CEO

Co-Investors

Y Combinator

Seed-stage accelerator whose alumni include Scribd, Reddit, Airbnb, Dropbox and Stripe