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Gilt Groupe CEO on Company Growth

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    Gilt Groupe CEO Kevin Ryan weighs in on the state of the online retail business

  • Duration 3:45
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The stock markets down and out consumers are hunkering down but my guess business is looking not.

How is that Kevin Ryan is the founder and CEO of gilt -- started out as an online private sales site.

Flash cell site now it's so much more its full price it's men it's women it's travel it's they had.

Has business.

So business for -- is fantastic I started this company and launch of three and a half years ago and we just finished year we did 500 million revenue.

We have 800 employees.

So it's been that's been growing like crazy.

But any sign of weakness and I want you to be absolutely frank any any.

Parts of the business -- that kind of ticked off some of them not all of them.

Where you're seeing softness and all.

So we're not -- yet but I think I think our vendors are getting cautious so the uncertainty in the stock market is making -- vendors feel.

We really should produce a little bit less and so I think we'll start to see that in in a couple of months but so far we're not seeing -- and our numbers -- thirty see the greatest strength in your risk I pointed out that He started out and and private online sales.

In like sample sales if you will and that quickly became a very saturated business and you.

But all along where expanding into other areas and I wonder where you see the greatest strength.

-- I don't think financial these saturated yet you know there's don't -- France that started ten years ago they're doing a billion dollars a year just in the French market.

And we have a much bigger market here so.

We've expanded at a vertical so we're seeing a lot of growth in travel -- -- jets that are.

We see a lot of growth in local actually in gilt city where in in -- large cities restaurants things like that.

We just launched -- tastes so food has been surprising for us you know -- and gourmet food full price delivered to your house amazing states.

Fish things like that so we're we're seeing more growth there than even an apparel this.

-- -- vision what is your vision for the company if I know I'm sure people always ask you out.

About do you want to compare yourself to an Amazon.com.

On a -- luxury level is that where you see it on how many more areas can you go.

It weren't born most of the big Ares I wanna be in but were you were a lifestyle.

Retailer and so.

Our visas will always be a -- the largest part will be flash sales that creates scarcity in urgency.

But the full price will be a big party we launched full -- and travel in January.

And 35% of what we do now and travel is full price so the point -- I think about the customer I think what things you would be buying.

-- your home in your closet and looking to provide today to those people.

How valuable is it -- for you to slice and dice the behavior of your early customers and figure out what they want what they need.

Because no offense I would rarely buy anything and Abbott's else likes it frustrates you know what happened okay -- So yet we do -- more work than anyone when you get an email from us in the morning it's actually one of 2000 versions we segmented our audience down.

-- we go to the website you think you're probably seeing the same thing I am.

But your page is different so were already targeting that very people do that right now so that technology.

That that sort of application -- rated double -- for many years I want to bring to e-commerce and so far we're getting great results in terms of.

Public offering where are you and that and that process I think the last round of funding did was 138 million yep earlier this year -- so we're going the public anytime soon as set I think somewhere between may be one to three years from now.

But we're still not working on it right now I mean we're building the business and it's -- to do that as a private company unit profitable company not yet with our new launches we have existing businesses -- profitable.

But new businesses that we've just launch are not profitable the whole company not -- yet -- -- -- about nothing but adding jobs and we like them.

We hired Morgan -- -- -- that's -- -- -- talk to you as always gilt -- You can pretty much but I'm Christina think -- at this point it founder and CEO he's now he's a lot more can you please come back and --

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