Competitor Analysis

Ekster
Ekster is one of the pioneers in the smart wallet revolution. Founded in 2015, by two

friends out of Amsterdam and a Kickstarter guru, Ekster was born. They were tired of

the endless line of boring options in the EDC wallet space. They wanted to address the

problem we mentioned above – losing your wallet, but also all of the other issues that

are important in the world of everyday carry. The wallet had to be slim, high quality

and “look” awesome. As you’ll see in our review below, they were successful. They’ve

grown from a startup to a company that supports more than 15 families. Let’s dive into

two of their most successful wallets launched, the Ekster Parliament and the Ekster

Senate. Ekster generated revenue of $300, 00.

Advantage & Disadvantages

Advantage

 Excellent leather quality and craftsmanship

 RFID protection for up to 6 credit cards

 Ejects cards into a perfect fan

 Trackable with optional solar wallet tracker card

Disadvantages

 It's a thicker wallet style, which may not be to everyone's tastes.

 Ejection button occasionally sticks.

 Back pocket is too tight to easily insert and remove tracker card.
 Main Offers Description
Ekster Parliament Wallet: The Parliament is a smart leather wallet which allows slim

storage and quick card access. The built-in aluminum card case fans out people’s cards

at the click of a button and protects them against unauthorized RFID-scanning.

Optional tracker card can be purchased to make it unlosable.

Ekster Senate: The Senate is a slim cardholder with quick card access and a removable

cash strap. The case fans out people’s cards at the click of a button and protects them

against skimming. Add a tracker to make it unlosable.

Customer Segments
 A slim wallet for men and women

Company Basic Information

Website: http://ekster.com

Industry: Apparel & Fashion

Company size: 11-50 employees

Headquarters: Amsterdam, NH

Type: Privately Held

Founded; 2015

Specialties: Tech, Fashion, and Security.

The Ridge Wallet
Ridge Wallet is a Kickstarter success story that has grown into a worldwide brand

phenomenon. This Ridge Wallet review will get into how and why this father and son

team is redefining the wallet and bringing the money clip into the 21st century. Daniel

and Paul Kane took to Kickstarter with a modest goal of $12,000 to redefine the wallet

for the modern era. They ended up raising over $200,000, a major mandate from both

men and women to make a better wallet for everyone. The father and son duo used that

money to recruit a small team to do more with less, not just with wallets, but with

backpacks, phone cases, power chargers—even pocket knives.

Advantage & Disadvantages

Advantage

 Made with metal, not leather, so they’ll hold up after years of daily use

 Block RFID-skimming devices (wireless identity theft)

 Singular Construction that won't let cards slip out the bottom

 Expandable track that can accommodate a various number of cards

 Available in brushed natural and black

Disadvantages

 They’re pricey – the cheapest Ridge Wallet is $75.

 The Ridge Wallets are slimmed down to carry credit and debit cards, so

business cards will bend.

 Access to cards is cumbersome when carrying 6+ cards.

 Titanium can attract marks & dust.

 Main Offers Description
The Ridge Wallet is a slim wallet designed to help cut down on the bulk of a traditional

leather wallet. It holds up to 12 cards and also includes a money clip. The dual metal

plate design blocks RFID signals, protecting people’s card’s security. It’s lighter and far

less bulky than a traditional leather wallet.

Customer Segments
 Men

 Women

Company Basic Information

Website: http://ridge.com

Industry; Apparel & Fashion

Company size: 11-50 employees

Headquarters: Los Angeles California

Type: Privately Held

Founded: 2013
Secrid
Secrid, a Dutch pocket-wear brand, is growing rapidly. The international demand for

their smart, fashionable wallets is increasing and market expansion is a daily business.

To realize worldwide inspiration and consistency for their employees, retailers, agents

and consumers, Secrid needed a strong brand basis with articulated drivers to guide

every effort into the right direction. Secrid generated revenue of $11 Million. The

company has recently gone through a period of rapid growth and is now exporting to

more than 70 countries.

Advantage & Disadvantages

Advantage

 Award winning design and brand.

 Push lever works like a dream. Deployment is smooth, effortless, and secure.

 Very slim and pocketable

 Card concealment and RFID shielding for security

 Plenty of configurations

Disadvantages

 Carrying cash comes with a ton of extra bulk. Bummer.

 The card holder portion doesn’t play well with overly thin or thick cards

 Moving plastic parts are more prone to break, add complexity

Main Offers Description

Secrid offers several variations of this wallet, at its core, it isn’t so much of a wallet at

all. It’s essentially a sophisticated cardholder, crafted from aluminum to tight

tolerances. It holds a modest 5-6 cards (it varies depending on how many of your cards
are embossed or have raised lettering) with a footprint not much bulkier than the deck

itself. They load from the top of the cartridge and sit flush and secure once inserted.

Customer Segments
 Men

Company Basic Information

Website: http://www.secrid.com

Industry: Design

Company size: 51-200 employees

Headquarters: The Hague, South Holland

Type: Partnership

Founded: 2009

Specialties: Wallets, RFID protection, Fashion, and Pocketwear.

Ögon Designs
Ögon Designs (ogondesigns.com) is a well-known wallet brand. Ögon Designs invented

the concept of these cool aluminum wallets in 2004 and has continued to innovate ever

since with a unique take on the traditional wallet. The arrival of Ögon on the leather

goods market caused a mini-revolution. Being the very first designer wallet made with

aluminum, the Stockholm together with the quilted zipper model for women shook up

the market. The concept of Ögon Design was to create a protective aluminum credit

card case that was lightweight, durable and aesthetically sleek in design. The result is

these smart, very popular card cases.

 Advantage & Disadvantages
Advantage

 Small And Lightweight

 Super Strong Carbon Fiber and Alluminium.
 Rfid Protection
 Soft Velvet Layer Protects Cards
 Environment Friendly - Made from Recycled Plastic.
 Supports Ethical Practices

Disadvantages

 Designed For Cards With No Dedicated Place For Cash

 Pricey

Main Offers Description

New credit cards allow a quick payment, without any contact with the terminal, and

without any PIN (RFID or NFC technology). These cards have a security weakness and

can be distance hacked. The card owner is exposed to bank fraud and identity theft.

Ögon Designs Code Wallets, thanks to their conception, have a Faraday cage effect and

therefore are RFID safe. The cards are protected from data theft and from a possible

demagnetization.

Customer Segments
 Men

 Women
Tru Virtu
Tru Virtu Patented Aluminum Wallets are designed and engineered in Germany to

completely safeguard your valuables from moisture, accident falls and electronic data

theft (illegal RFID scanning) in the safest and most functional way. Made from high-

quality anodized aluminum, high-strength plastics and stainless steel, Tru Virtu is now

available in luxury leather wrap with the same protective functions to store cards, cash,

papers & receipts.

Advantage & Disadvantages

Advantage

 RFID blocking

 Holds change as well as bills

 Offers free shipping policies

 Genuine leather-envelope is suitable for "Tap & Go" cards

 Protective

Disadvantages

 Tiny clips for bills and cards

 Somewhat confusing two-stage layering

Main Offers Description

Space for up to 12 plastic cards (alu-case: 5 cards, mix of max. 4 embossed and 1 flat

cards/ genuine leather-envelope: up to 7 cards, banknotes, receipts, business cards).

TRU VIRTU® products, on the other hand, are made from a fully sealed aluminum-

polymer-compound. This is what keeps the scanner’s radio waves from getting in touch

with the RFID-chip and hereby blocks the scanning and protects the stored data.
 Customer Segments
 Unisex

Pitaka Wallet
The PITAKA carbon fiber magnetic wallet is a minimal wallet that’s made of carbon

fiber, which is RFID blocking. It also features a modular layered design that allows you

to customize what it can hold.

Advantage & Disadvantages

Advantage

 Greater brand recognition

 Features a stylish, minimalist design.

 Offers RFID protection.

 Lightweight

 One handed access to cards

 Brilliant modular design and magnet system

Disadvantages

 Due to the positioning of the magnets, you can swipe off the top layer if

you do not swipe from the right side.

 Even though it is understandable, the wallet is pretty pricey (just the

standard 6 card holder is $80).

 Every single extension costs from $25-$35.

Main Offers Description

The main wallet ships with four layers that include the top and bottom layer end pieces

that can hold one card each and two internal layers that each hold two cards. That
means that the wallet can hold a maximum of six cards. PITAKA also sells additional

layers that can hold coins, a key, SIM card, micro SD cards, and cash.

Company Basic Information

Website: https://www.ipitaka.com/

Industry: Retail

Company size: 51-200 employees

Type: Self-Employed

Founded: 2015

Specialties: Aramid Phone Case, MagMount, Carbon Fiber Wallet, and Magbar.

ZENLET

Zenlet wallet is an ideal wallet created with the concepts of action, secured, and

minimalist. Under its sleek and compact appearance lies the ingeniously designed

mechanism. Cards stored inside the wallet will be fanned out with an intuitive slide-

open of one thumb. The RFID tray prevents the cards from the ID theft while at the

same time it allows the card be read by a sensing device, which makes it the only wallet

for those looking for convenience and protection. ZENLET generated revenue of

$200,000.

Advantage & Disadvantages

Advantage

 Greater brand recognition than Protected Cards.

 User-friendly designs.

 Flexible RFID blocking.

 Easy slide open.

  Auto card arrangement.

 Scratch Proof.

Disadvantages

 Doesn’t have enough internal space to hold extra cards.

Main Offers Description

The Zenlet took a break from the usual as it abandons the traditional leather bifold and

opts for a sleek aluminum unibody enclosure that comes with handy access and

security features. The Zenlet wallet sways towards the shape of the smartphone than

that of a wallet. It slides open through the tilting mechanism on the top of the case of

the wallet.

Company Basic Information

Website: http://shop.zenlet.co/

Industry: Arts & Crafts

Company size: 2-10 employees

Type: Sole Proprietorship

Piquadro
Piquadro is an Italian leather goods company specializing in business and travel items

in Italy and internationally. The company offers products ranging from men's and

women's professional bags to luggage and small leather items. As of April 2010, it

distributed its products through approximately 1500 points of sale. Piquadro has

received a number of patents in recognition of its technical and functional innovations.

Piquadro generated revenue of $118 Million in 2020.

 Advantage & Disadvantages
Advantage

 Wallet made for men and women.

 The exclusively Italian leathers are carefully selected by expert technicians.

 Water resistance and non-toxicity.

 RFID protection.

Disadvantages

 Not just a wallet company.

 Lack of technological advancement.

Company Basic Information

Website: http://www.piquadro.com

Industry: Apparel & Fashion

Company size; 201-500 employees

Type: Public Company

Founded: 1987

Specialties; Premium Leather Goods Manufacturer.

 INE Substitutes

Substitutes of Your Service

 Power bank

 Simple Wallet

 RFID Blocker

 Smartphone Wallet

 Wallet Tracker

 Bluetooth Credit Card Holder

 Crypto Wallet

Compare
Average Price
INE Paris Wallet €69
Power Bank $18.99
Simple Wallet $30 - $40
RFID Blocker $15 - $20
Smartphone Wallet $7 - $10
Wallet Tracker $60
Bluetooth Credit Card Holder $34.99
Crypto Wallet $105
Switching Cost to Substitutes
Types of Switching Costs
Switching costs can arise from a number of different reasons, and the scale of impact

can also vary immensely. Switching costs do not necessarily refer to financial costs. In

fact, switching costs are often found in procedural costs and relational costs.

Types of switching costs include:

 Exit fees (when breaking contract)

 Equipment costs (when changing service provider)
 Installation costs
 Learning costs (time and effort, training)
 Emotional costs (relationships, new employees, and brand)
 Start-up costs
 Convenience (location)
 Risk (financially, psychologically, and socially)

There have no exit fee, Equipment costs and Installation costs of customer when they

will switch INE’s products. There have little switching cost of learning cost, emotional

cost and convenience. When customer’s switch the brand like INE, there have low cost

of switching to the substitutes brands.