Rivet & Sway
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Rivet & Sway was a Seattle-based online eyewear retailer founded in March 2011 by John Lusk, focused exclusively on women's prescription glasses. It sold curated high-end frames ($199 with lenses, later $169) with a home try-on service, competing against Warby Parker. Led from 2013 by CEO Sarah Bryar (a former Amazon manager), the 14-person company raised more than $3 million from Baseline Ventures, Mousse Partners and Harrison Metal, and was named one of Internet Retailer's Hot 100 e-retailers of 2013.
02 / Rivet & Sway FAILURE REASONS
Why it failed
The killer was customer acquisition cost — specifically the physical home try-on program. Women wanted to try frames on before buying, but shipping frames back and forth was an expensive marketing program. Economics were improving and the company had plans for hyper-efficient showrooms, but progress was not strong enough to attract additional capital. CEO Sarah Bryar said the challenges did not stem from Warby Parker competition. Rather than strip back the team and value proposition — which she felt would compromise service and quality — the company chose to close on a high note.
03 / EVENT HISTORY
Events in the structured record
- Founded
John Lusk founded Rivet & Sway in Seattle to sell women's eyewear online.
- New CEO
Sarah Bryar took over as CEO; the company opened a Seattle showroom and a 'Specs on Wheels' pop-up tricycle.
- Shut down
Rivet & Sway announced via social media that it had 'sold its last pair of specs'.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
On June 3, 2014, Rivet & Sway announced its closure after just over three years, despite a growing, loyal customer base and a 90+ Net Promoter Score.
- 02
The company shut down rather than dilute its service and quality.