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Factbox: Jane Marvel Handbags

Thu Apr 16, 2009 4:37pm EDT

(Reuters) - A highly competitive industry, a failed startup on her resume and the worst recession in a generation didn't deter Jane Saidenberg from launching her handbag business. A year later her Jane Marvel <www.janemarvel.com/> line of "lifestyle" bags is going gangbusters, landing on the shelves of more than 300 stores from Alabama to Wyoming and racking up sales of $1 million along the way.

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Entrepreneur: Jane Saidenberg

Company: Jane Marvel handbags

Founded: Originally incorporated in 2002 as a home storage line, Jane Marvel was re-launched in June 2008 as a lifestyle line of bags for women

Previous job: Talent agent at the William Morris Agency, representing actors for TV, film and theater.

What's behind the name: Husband Andrew Marvell Saidenberg is a music producer/ songwriter who shortened his name to Andy Marvel for professional use. Saidenberg followed suit and used it for her company.

Target audience: Women, from ages 10-70

Initial startup cost: $200,000

Number of employees: 3

2008 revenues: $870,000

Projected revenues for 2009: $1.5 million

Biggest challenge to growing your business: Finding angel investors in a recession

Additional investment sought: $500,000-$750,000


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