Chris Dixon wraps his Founder Stories interview with Gilt Groupe’s CEO and Founder, Kevin Ryan by discussing the early sales strategy of Gilt - a strategy that was designed to build customer and brand loyalty, but not the bottom line, at least initially.
Revisiting the launch period around four years ago, Ryan says, "we were going to make $4,000 for us on a sale and I spent $7,000 on the photo shoot, and you would say that is not a good business model, but what happened was the brands loved it, the customers loved it ... and so now we sell $100,000, $200,000, $300,000 .... on a sale."
(Founder Stories) Gilt’s Kevin Ryan—It Is All In The Presentation (TCTV)
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