Olivela's Stacey Boyd: 'No one is going to buy something simply because it does good'

When founder and CEO Stacey Boyd set out to create her company, Olivela, she wanted to establish a luxury shopping platform with a philanthropic mission baked into the core business model. The 5-year-old company donates 20% of net proceeds from every purchase to the consumer's charity of choice from Olivela's list of partners, at no cost to the consumer or brand partners. 

“There are three pillars we work in,” Boyd said on the latest episode of the Glossy Podcast. Olivela focuses on women’s empowerment, climate action and health and wellness. “The name is ‘Olive’ for olive trees, a symbol of growth and wisdom, and ‘vela,’ which is Latin for the sails of the ship, with the idea that we help set people forward on the best path in life.”

“Purpose matters to [our customers],” said Boyd. “As we think about developing and creating the Olivela website, no one is going to buy something simply because it does good. Our customer is going to buy a bag because she loves the bag. She’s going to choose to buy it from Olivela versus somewhere else because of the good that it does and because she has a choice as a consumer."