MZ Wallace's founders on 25 years of staying independent

Over the past 25 years, most of the accessible luxury handbag brands that came up alongside MZ Wallace have taken outside investment or sold to a conglomerate. Monica Zwirner and Lucy Wallace Eustice have done neither. The New York brand they co-founded in 1999 remains independent and self-funded, and its founders say that is precisely what has let them build it at their own pace.

"Being independent has allowed us to build MZ Wallace on our own terms and stay close to what we know our customers want," Wallace Eustice told FashionUnited. "We've been able to grow thoughtfully, stay true to our strategy, and make decisions based on what feels authentic to us, whether that's a new product extension, collaboration, or campaign. That freedom has been incredibly valuable, helping us strengthen the kind of loyalty and longevity we're proud of."

The two met in a Manolo Blahnik store in 1985 and ran into each other again at the Union Square farmers market in 1999. That second encounter turned an idea into a company.

"I had been thinking about starting a nylon handbag company for some time but knew I didn't want to do it alone," said Zwirner. "When we ran into each other at the Union Square farmers market in 1999, we started talking about the idea and very quickly realized that our backgrounds and perspectives complemented each other. Lucy immediately felt that having our own store needed to be part of the vision, so we could build a direct relationship with our customers and really understand what they wanted. From there, it moved pretty quickly from an idea into something we knew we wanted to build together."

Neither founder was starting out young, and both point to that as formative. "Launching later gave us a different perspective on what we wanted to build. We were less focused on chasing moments of virality and more interested in making thoughtful decisions that could set the foundation for long-term growth," said Wallace Eustice. "From the beginning, we wanted to create products that could resonate across generations, something we could relate to from both sides, and that led us to focus on practicality, quality, and style."

That approach frames the brand's 25th-anniversary campaign, New York Icons, which debuted on Wednesday. Shot across the city from Lincoln Center to Brooklyn, it features actress Hari Nef, Real Housewives of New York cast member Carole Radziwill, Team USA hockey player Aerin Frankel, chef Tara Thomas, New York City Ballet principal dancer Tiler Peck, Goldbelly founder Vanessa Ariel, Bugaboo chief commercial officer Jeanelle Teves, and style creatives Laura and Nicolas Herbert and sisters Shelcy and Christy Joseph, each photographed in their own neighbourhood.

"25 years is a meaningful milestone, and it felt like the perfect time to pay homage to New York. It's the place where MZ Wallace was born and has been shaped over the years," said Zwirner. "New York is known for setting trends and making bold fashion statements, but we wanted this campaign to peel back those layers and celebrate something more enduring: the practicality, versatility, and effortless style that define MZ Wallace and New Yorkers."

On the casting, she added: "New York is made up of so many different personalities, cultures, interests, and styles, and we wanted the cast to reflect that range. At its core, the campaign is about ambitious, hardworking people with full, multifaceted lives, so we intentionally brought together individuals from different worlds who each embody that spirit in their own way."

The campaign marks a shift in emphasis for a brand better known for product-led marketing. "We're always introducing newness and creating products that excite our community, and that will continue to be at the heart of MZ Wallace," said Wallace Eustice. "This season felt like an opportunity to step back and tell a broader story about the people, culture, and lifestyles that have always surrounded the brand. We've really enjoyed bringing that to life through this campaign, and we see a lot of opportunity to continue partnering with personalities and organizations that authentically reflect our community."

The next phase, following the appointment of January Digital as media agency of record this year and new stores in Washington, DC and Los Angeles, extends across channels and markets.

"For us, the next phase is about introducing MZ Wallace to more people while continuing to deepen the relationship we have with our existing customers. We see meaningful opportunity across channels, from expanding our retail presence and reaching new audiences through digital marketing to continuing to grow internationally," said Zwirner. "At the same time, product remains at the center of everything we do."

Asked whether wholesale or owned retail takes priority, she said both matter. "We've built particularly strong recognition in New York and across the East Coast, and we see a significant opportunity to broaden our presence across the country and internationally."

The pressure the founders name is neither trade policy nor competition. "The consumer landscape is changing incredibly quickly, from how people discover brands to where and how they choose to shop. For us, the challenge is making sure we continue to evolve with our customer in ways that makes sense for our brand," said Wallace Eustice. "After 25 years, we've learned the importance of staying focused on what we do best: creating great product, listening closely to our customers, and making thoughtful decisions for the long term."