Gilt Groupe, a provider of invite-only high-fashion "sample sales" to its members, has raised $5 million in VCs funding
By admin at November 28, 2007 | 8:55 pm | Print
What Company Is Offering:
Gilt Groupe is a private online community dedicated to providing its members with access to coveted fashion and luxury lifestyle brands at sample sale prices.
Gilt Groupe hand selects both established and up and coming brands relevant to our membership base.
How It works:
The ‘sample sale’, a New York phenomenon where consumers line up around the block on a single day to buy top designer items at steep discounts, is now available for the first time online and to shoppers nationally through Gilt Groupe.
Each Gilt Groupe Shopping Event is designer-specific and held over a one day period. The Gilt Groupe production team creates a short video reel to introduce each designer and brand to our membership.
There is no fee associated with joining Gilt Groupe, membership is by invitation only.
For each friend you invite, Gilt Groupe will credit your account with $25.00 after your referral’s first purchase.
Working directly with the designer or brand, Gilt Groupe ensures the best product mix and often showcases top end designers who never discount their products or sell online. Membership is by referral, and there is no fee associated with joining Gilt Groupe. The existing membership base hails from all 50 states and since the Company’s November launch multiple thousands of members join daily.
How Much They Got From VCs Funding:
Gilt Groupe (www.gilt.com), which brings invitation only ‘sample sales’ to its national membership, announced that it has secured $5.0 million in financing from top venture capital firm Matrix Partners..
more at:http://www.gilt.com/
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