Shoptiques
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Shoptiques is an online marketplace for women’s clothing and home décor. The company was started by Harvard Business School graduate and former Goldman Sachs investment banker Olga Vidisheva.Eric Markowitz (March 12, 2012) [http://www.inc.com/eric-markowitz/fashion-startup-takes-aim-at-a-20-billion-industry.html "Fashion Start-up Takes Aim at $20 billion Dollar Industry"] Inc. (magazine) Shoptiques also provides services such as photography, shipping assistance, and digital marketing.Teresa Novellino (July 27, 2012) [http://upstart.bizjournals.com/entrepreneurs/hot-shots/2012/07/27/shoptiques-big-business-in-small-shops.html?page=all "A big dream for small boutiques"] [http://www.bizjournals.com/ BizJournals]
History
Vidisheva spent her second year of Harvard Business School surveying over 800 boutiques to help her write the business plan for Shoptiques.Catherine Sabino (September 16, 2013) [http://gotham-magazine.com/style/articles/olga-vidisheva-introduces-shoptiques-dot-com "Olga Vidisheva Debuts Shoptiques.com"] Gotham (magazine) After graduation, she launched the site in the Spring of 2012 with 25 boutiques on the site.Leena Rao (March 21, 2012) [https://techcrunch.com/2012/03/21/andreessen-horowitz-greylock-back-marketplace-for-local-fashion-boutiques-shoptiques/ "Andreessen Horowitz, Greylock Back Marketplace For Local Fashion Boutiques, Shoptiques"] TechCrunch
In November 2014, Shoptiques added its 1,000th boutique to the site.Ben Fischer (November 12, 2014) [http://www.bizjournals.com/newyork/blog/techflash/2014/11/shoptiques-the-online-store-for-boutiques-finds-a.html "Shoptiques, the online store for boutiques, finds a cheaper path to Internet sales success"] [http://www.bizjournals.com/ BizJournals] In March 2015, the company released its mobile app.Britteny Dee (March 18, 2015) [http://www.fashiontimes.com/articles/19356/20150318/shoptiques-launches-mobile-app-founder-olga-vidisheva-has-sights-set-on-expansion-insider-interview.htm "Shoptiques Launches Mobile App, Founder Olga Vidisheva Has Sights Set On Expansion"] Fashion Times
In July 2020, Olga Vidisheva stepped down from day-to-day operations of the company and Marc Gugliuzza and Elliot Djmal became Co-CEOs.Olga Vidisheva (July 30, 2020) [https://www.linkedin.com/pulse/my-last-day-shoptiques-olga-leiser "My last day at Shoptiques"]
In January 2023, Shoptiques Business was rebranded as Material and it continues to operate the Shoptiques online marketplace as well as a point of sale system for independent retailers.Material (January 19, 2023) [https://www.materialretail.com/blog/introducing-material-the-new-name-for-shoptiques "Shoptiques Business Has a New Name: Introducing Material"]
Business Model
Shoptiques generates revenue based on commission, taking a percentage of each sale made on the site.Kim-Mai Cutler (March 30, 2012) [https://techcrunch.com/2012/03/30/ladies-of-y-combinator/ "Here Are The Women of Y Combinator And They Are Awesome"] TechCrunch Each boutique curates its own selection of products on the site and customers can purchase products from multiple boutiques with a single checkout experience.JoAnne Klimovich Harrop (April 27, 2015) [http://triblive.com/lifestyles/fashion/8171233-74/com-shoptiques-says#axzz3Z8BeHg48 "Pittsburgh store owners say Shoptiques.com creates online word of mouth"] Pittsburgh Tribune-Review
References
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External links
- [http://www.shoptiques.com Shoptiques.com]