Gilt Groupe
| 200px | |
| Private | |
| Industry | E-commerce |
| Founded | 2007 |
| Founder | Kevin P. Ryan Dwight Merriman Alexis Maybank Alexandra Wilkis Wilson Michael Bryzek Phong Nguyen |
| Headquarters | New York, N.Y., USA |
|
Key people
|
Michelle Peluso (CEO)[1] Kevin P. Ryan (Chairman) Susan Lyne (Vice Chairman)[2] |
|
Number of employees
|
More than 1000 [3] |
| Website | gilt.com |
Gilt is an online shopping website based in the United States. Gilt Groupe was founded in 2007 and has over 6 million members.[4]
History
The company launched women's clothing and accessories in November 2007, men's in April 2008, Gilt Groupe Japan in February 2009, Gilt Fuse in August 2009, travel site Jetsetter in September 2009,[5] Gilt City in April 2010, Gilt Home in May 2010 and Gilt Taste in 2011.[6] Gilt Groupe is based in New York, N.Y. with warehouses in Brooklyn, NY, Las Vegas, NV, and Louisville, KY. In 2012, the company launched a partnership with Jason Binn's luxury lifestyle magazine, DuJour.[7]
On January 7, 2016, Gilt Groupe announced its acquisition by Hudson’s Bay Company, owner of department store chains Hudson’s Bay, Lord & Taylor and discount seller Saks Off Fifth, for $250 million, less than the amount raised from investors in all the company's prior funding rounds.[8]
Business
Gilt Groupe visitors must be members in order to view sales. New sales last 36–48 hours and feature merchandise from a single brand or small groups of brands. Gilt purchases vendor inventory at an extreme discount, and then adds a margin on top of the discounted price in order to make a profit and sell items at a discount. On August 22, 2011, Gilt Groupe added a Facebook shopping section.[9] Android and iPhone apps allow mobile shopping. Access is also available via mobile web for other smartphone and tablet devices. On September 9, 2015, when Apple has announced the new 4th generation Apple TV, GILT announced to make an application for the Apple TV.
In 2009, growth equity firm General Atlantic led a series C funding round, joined by previous investor Matrix Partners, and General Atlantic’s managing director, Anton Levy, joined the board of directors.[10][11] As of February 2014, Gilt Groupe has begun preparing for an IPO.[12]
Book
Founders Alexis Maybank and Alexandra Wilkis Wilson have released a book By Invitation Only: How We Built Gilt and Changed the Way Millions Shop.[13]
References
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- ↑ Team | Gilt Groupe | About. Gilt.com. Retrieved on 2013-09-05.
- ↑ Board | Gilt Groupe | About. Gilt.com. Retrieved on 2013-09-05.
- ↑ Gilt Groupe - Company Overview
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- ↑ "Catching Up With Jason Binn"
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ August 22, 2011 http://www.internetretailer.com/2011/08/22/gilt-goes-after-facebook-shoppers
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- ↑ Business Week
