Overview, company details, product information, news, events, rankings and Consultant listings for Madison Handbags.
It was a New York-based custom handbag home-party/direct-sales company founded by Trish Rost in 2005. The business sold design-your-own purses, totes, and accessories through independent consultants hosting handbag “design” parties. In 2011, local coverage described it as having 500 independent design consultants in more than 40 states, 43 employees at its Troy facility, and more than 75,000 handbags produced per year.
The company later operated as Monet Handbags. By the end of 2014, it had stopped taking orders, and in March/April 2015 it filed for Chapter 7 bankruptcy liquidation. Times Union reported that the company closed in January 2015, had about $901,000 in debt, and that revenue had dropped from $1.98 million in 2013 to $1.2 million in 2014.
Original Npros business profile for Madison Handbags, preserved below for archival purposes:
Madison Handbags, founded in 2005, is a direct-selling, home party company offering custom-made handbags and accessories, hand-sewn to order at the company’s production facility in Troy, NY.
Madison Handbags are sold at home parties where guests choose the style and fabric of their bags. The bags are handcrafted to guests’ specific orders and shipped within 6 to 8 weeks. Hostesses of Madison Handbags parties receive 10% of sales in merchandise credit, with no minimum totals to qualify, as well as booking credits, Hostess Specials and free shipping.
Company Goals
Madison Handbags’ mission is “To provide opportunities for women – professionally, financially, and socially.”
Enrollment Options
New Madison Handbags Consultants can enroll for $199 with a kit containing over $600 worth of bags, fabrics and business supplies. The company also offers a Fast Start Program that allows new Consultants to earn free bags and incentive rewards in their first 90 days.
Compensation Plan
Madison Handbags Consultants can earn 20%-30% commission, incentive rewards including trips and jewelry, monthly cash bonuses, and receive a 50% merchandise discount.
Trish Rost, President and Founder
January 15, 2014 -- Trish Rost, founder of Monet Handbags, has announced that the company will close at the end of the month.
The nine-year-old company, originally known as Madison Handbags, has about 300 independent consultants across the United States.
Ms. Rost said a key reason for her decision to close the company was the over-saturation of the home party sales market....
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