Inno under 25: Cameron Storch uses B2B model to wholesale luxury items for $1M in sales, acquires two more companies

CAMERON STORCH

Age: 21

TItles: Founder, Luxe Supply Co.; owner and CEO, The Woodstone

Location: Winston-Salem

What it does: Wholesales pre-owned luxury goods; sells wooden watches

Founded (Luxe): 2018

No. employees: One

Websites: https://luxesupply.co/ and https://thewoodstone.com/

LinkedIns: https://www.linkedin.com/company/luxe-supply-company/ and https://www.linkedin.com/company/woodstone-fashion-group/

Instagrams: @luxesupplycorp and @woodstonewatches

Not many college students can say they run three successful businesses. Cameron Storch can.

Storch began his first and primary business, Luxe Supply Co., as a high schooler in 2018. Luxe sells and distributes pre-owned, authentic luxury goods from brands such as Louis Vuitton, Gucci, Chanel and Prada to boutiques and other retailers. He says to date, the company has made over $1 million in sales.

Now a senior at Wake Forest University studying business enterprise management, Storch also runs The Woodstone, an online wooden watch company, and an online women’s clothing boutique.

During the Covid-19 pandemic, Storch said boutique owners were no longer able to source pre-owned luxury goods from walk-in customers. He connected with a boutique owner who moved his sales online and Storch was able to source the goods in bulk for the owner.

Luxe Supply Co. now sells the goods wholesale to boutiques across the country, sourcing from auction houses around the world. The company also has a consignment model where a boutique sells Luxe’s goods and receives a percentage of the sale. Luxe uses this model in three Hamptons, New York-area boutiques as well as a couple others in Florida and Texas, Storch said.

“We’ve talked about making Luxe direct-to-consumer, but that’s a pretty competitive space and wholesale [of pre-owned luxury goods] is something that is not really being done,” he said.

But he knew he wanted to experience direct-to-consumer sales and have his own brand, so in July 2021, Storch acquired The Woodstone, an e-commerce, 7-year-old sustainable wooden watch company.

He acquired The Woodstone in a liquidation-type deal for an undisclosed amount, as the original owner wanted to move on from the company, Storch said. Storch has since sold off much of the original inventory and will be getting new inventory soon after receiving feedback on popular items.

This past summer, Storch also acquired a 5-year-old online clothing boutique, which he declined to name as his acquisition has not yet been made public. However, Storch said that the boutique had a strong following and he intends to open brick-and-mortar stores in 2024, although he is unsure where.

Running his three businesses has mostly been a solo job, although he does have help with social media for the clothing boutique.

Beginning by selling a wallet on Facebook, Storch said his journey has been a “stairwell effect,” in which he has climbed by reinvesting the money he made into larger purchases and acquisitions.

As he comes to the end of his collegiate career, Storch will soon decide whether he wants to run his businesses full-time and acquire more or get a different full-time job and run the businesses on the side.

“Something I’ve always tried to do, at least while in school, is to make the businesses as self-run and automated as possible. I spend a lot of time keeping up with software and things that can streamline operations,” Storch said. “Yes, there’s been nights when I’ve been up to 5 a.m. doing work or auctions… The end game goal is to build a portfolio of self-run business that work together.”

Inno Under 25