Irene Chen and Matthew Grenby, the dynamic husband-and-wife duo behind the luxury handbag brand Parker Thatch, according to Entrepreneur, epitomizes the art of the entrepreneurial pivot. From starting a garage-based business with a name nobody could pronounce to achieving eight-figure revenue, their journey is a masterclass in resilience and creativity.
Chen, a former director of product development at Donna Karan, and Grenby, with a background in UX design, began their entrepreneurial path in 2001 with iomoi, an e-stationery company. Though the concept was ahead of its time, it quickly became clear that consumers weren’t ready to pay for online stationery.
To adapt, the couple introduced physical products, eventually diving into customizable home goods.
The turning point came in 2009 when Grenby discovered a way to transfer their signature monogram designs onto cotton. This innovation sparked the creation of their first tote bag, crafted with the help of a local dry cleaner in Danville, California. The canvas bags, featuring bold stripe designs inspired by the then-trending Goyard aesthetic, became an instant hit.
Their “Mimi” bag caught the attention of holiday gift guides—and even Reese Witherspoon—cementing its place as a bestseller.
As their success grew, so did the need for a larger workspace. They moved from their garage to a Lafayette office and later to a more spacious location in Orinda, which also became their first showroom. But growth brought new challenges. Customization, the hallmark of their brand, proved difficult to scale, leading to operational inefficiencies.
In 2015, advice from their friends Kate and Andy Spade, the co-founders of Kate Spade New York, prompted another significant change: renaming their brand. The original name, iomoi, was hard for customers to remember. After brainstorming during evenings in Napa, the couple settled on Parker Thatch—a nod to their children’s names and a symbol of their family-driven ethos.
Pivoting from customization to a more streamlined product strategy allowed the brand to expand its reach while maintaining its signature style. Today, Parker Thatch continues to thrive as a testament to Chen and Grenby’s unwavering determination and ability to evolve in the face of challenges.
Photo by Entrepreneur
