In Silicon Valley lore, the garage is the go-to site of startup founding stories.
If you want a curveball to this cliched tale, check out OXB Studio, the maker of sweat-proof jewelry.
Co-founders Maggie Kyle (yoga teacher turned metalsmith) and Laura Treganowan (cycling instructor turned marketing guru) met in the latter’s 7am spin class.
At the start of 2020, OXB had a growing wholesale operation
But when the pandemic hit, the business lost 90% of its revenue.
OXB was selling its minimalist necklaces, bracelets, and anklets across a network of fitness studios in Denver (where OXB is based) and nationally, in partnerships with Pure Barre.
“Our ecommerce business was tiny when COVID-19 hit,” Kyle tells The Hustle.
Online revenue jumped from $3k in January to $32k in April
OXB — an 18-month-old operation with 6 employees — turned around its fortunes with a multi-pronged attack:
- Learning all things Shopify.
- Staying close to the fitness community by supporting studios (e.g.,OXB set up a program to help customers prepay for future yoga memberships).
- Launching an ambassador program that now boasts top athletes including Olympic gold medalist Missy Franklin.
The business hit $94k in October and hopes for 2021 are high.
“When I started making jewelry, I was targeting $50k a year,” says Kyle. “OXB can do 7 figures next year and we plan on scaling the business and hiring more people.”
That was one fortuitous spin class.
