Flash Sales Site TheOnlineClothingBoutique.com Goes From $10K investment to $100K in Revenues.
til darling
TheOnlineClothingBoutique.com, a flash sales site offering brand-new in-season fashion at as much as 60% off, today announced that it expects to hit $100k towards the end of the season after only investing around $10k. Although it pales when compared with fast growing e-commerce site Fab.com, which launched with more than 150,000 members, this is a huge accomplishment because it only agreed to be last December that TheOnlineClothingBoutique.com considered turning off its website forever.
TheOnlineClothingBoutique.com operated as a “traditional” online boutique for three years, but encountered difficulties with low conversion, poor inventory turnover, and unpredictable gross margins.
“For an e-commerce site, everything that might go wrong, did fail. At the beginning of December, I'd essentially decided i was going to turn off the website and that i was trying to get jobs within my direct competitors,” said Daniel Hsu, Owner. “Despite use a B.S. Degree in operation Administration from UC Berkeley and a Masters in Finance Degree from London Business School, I didn’t get a single interview for positions I am well qualified for. When ModCloth rejected my application within five hours of submitting it, I knew my options were limited. I knew that my only possibility of residing in the style industry was to reinvent T.I.L. Darling. I attempt to eliminate all of the problems I had familiar with the previous three years and a flash sales site was an ideal solution.”
With flash sales sites opening everyday, TheOnlineClothingBoutique.com is standing up for from your rest having a compelling offer. Unlike other fashion flash sales sites, for example Gilt.com that offer overruns, samples, or off-season items, TheOnlineClothingBoutique.com will offer brand new in-season fashion items at as much as 60% off retail.
“With constrained supplies in the off-price market and strong need for flash sales sites, it’s the next logical step,” said Hsu. “The market leaders have control over the off-price supplies of nationally recognizable manufacturers, but TheOnlineClothingBoutique.com works with independent boutique brands that tend to attract a younger demographic. Established private membership sites have successfully introduced the idea to aspirational luxury buyers, who are usually between 25-34 many older, but you will find great deal of 18-24 year olds who're more concerned with style, uniqueness, and quality than if it’s from a luxury designer. TheOnlineClothingBoutique.com is absolutely targeting a demographic largely ignored by flash sales sites.”
Instead of wanting to take away business from already established flash sales sites, TheOnlineClothingBoutique.com believes it can attract younger customers far from traditional fashion retailers who still play pricing games.
“Fashion merchandisers are taught to mark-up products only for them to discount them to achieve a maintained mark-up,” said Hsu. “Fashion retailers mark-up products 100% to 300%, but the average gross margin for that market is 45%. The data proves that retailers are marking the prices on items in order that over the last quarter of year they are able to hold Black Friday, Cyber Monday, or holiday sales and offer basically the fair selling price. It’s a method that actually works, but there’s no rule that says all fashion retailers have to do it in this way. I really feel that TheOnlineClothingBoutique.com is changing how fashion is bought forever.”
til darling
Membership to TheOnlineClothingBoutique.com costs nothing and available to all fashion lovers. To find out more concerning the company or to join, visit TheOnlineClothingBoutique.com.