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Online Fashionistas
Cofounded in 2007 by Alexandra Wilkis Wilson (MBA ’04), formerly of Louis Vuitton and Bulgari, and ex-eBayer Alexis Maybank (MBA ’04), Gilt Groupe is an online, members-only, luxury retailer that features “flash” sales (lasting only a day or two) of a single designer’s clothing line or a small group of brands, all at discounts of up to 70 percent.
Having “revolutionized the fashion world” (Forbes.com, June 15, 2010), the company is expecting revenues of $400 to $500 million this year, up from $170 million in 2009. Gilt Groupe, now with a division for men’s clothing and entering travel markets as well, has grown from 5 employees to more than 400. Membership is by invitation by other members or by registering at the site (www.gilt.com); that exclusivity is a selling point for both consumers and designers. Said Wilson, “A lot of the brands love the fact that our Web site is private…like a very contained platform in which we could sell their goods. It was actually very easy once we got the system up and running to get amazing designers, not only women’s ready-to-wear but for other categories like jewelry, shoes, handbags, etc.”
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