Merchandiser, Billion Dollars discussed on The IVY Podcast - #56: How to Create a Great Brand & Culture to Build a Scalable Venture featuring the Founder of LAUNCH & CEO of M.Gemi, Ben Fischman

Automatic TRANSCRIPT

If you went to our warehouse look like one of the offprice stores it's truly what the when you walked in you saw racks stuff when you shopped rule on the site it looked like a beautiful experience with beautiful product so what does that mean well the brands loved it the branch loved it because they could take their what they thought was they're older merchandiser the lessvalued merchandise and make it look great so it wasn't creating a rozhin for their brands it was actually turning it into a positive the customer logic as they were paying a fraction of a price for product that was beautiful and looks tabuas but in its core rule of law was a really simple idea it was taking off price and reinventing it in a digital environment it was controlling the brand experience in every little bit of that brand experience and it was about creating urgency excitement and theater and to this day in the rule of business now i think it's i shouldn't even say the numbers but it's it's it's a big business probably just shy of a billion dollars in revenue and and while the flash sale industry is a very different place today than it was we never thought of rule allows flash on sri we thought of laws of amazing shopping experience and i think the growth is suggesting that that the customer believes that as well in bend was one of the pioneers to sort of brick wall when you came to a website in and building that exclusivity when you had that referral invite only motto is a crazy idea back then that actually that real we we think about that a lot and our current business back then we were saying what do we do.

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