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-- stores and online sites all gearing up for the holiday shoppers it's getting to that at time of year gilt city is doing so.
By acquiring daily deal site by with me dot com so that essentially doubles the company size.
Kevin Ryan is founder and CEO gilt -- which is a whole host of different businesses and he is joining us now.
Big picture where you see in the -- are attacking go through travel home decor food wine men's women's clothing.
Are you seeing.
Equal strength across all the different channels.
So we're seeing growth across the board although we see more growth in the business is that we had better younger -- we've just launched so -- taste we launch -- months ago that's going really quickly -- -- bond is two months ago full price -- That's growing really quickly.
Gilt city launch about a year ago so yeah we're still seeing growth there were adding new cities.
So across the board yeah we're seeing the business reinforce each other may -- some comes in because of gilt city but then they start buying clothes on gilts or on jet setter.
So that's that's the point of having all these together now and particularly these coupon everybody was talking -- -- Groupon IPO yeah -- last week of these coupon sites in terms of where they -- Where they go from here I mean how how big is that space how much room is there for different companies to compete within it.
So -- -- you see a lot of consolidation.
It's an enormous base is -- really quickly it's doing well.
But they -- is there isn't room for a 150 players have your be about citizen by with me.
Acquisition is that part of that you're gonna see three or four large players -- -- -- some very small segment to players survived but a lot of consolidation the next year.
You clearly branched out but in your core business -- -- the profits outside with women's clothes and then and other goods.
But how difficult is it now to get inventory because -- being a longtime customer deal.
It seems like the discounts used to be steeper they used to be a lot more big name brand designers on the site and there are a lot more players and also there's a lot less inventory than there was just a few years ago.
So the rallies is is an enormous market if you think of TJ Maxx you know that you twenty billion dollars a year in -- so the overall market for discount clothing just clothing alone.
Isn't it -- when he -- -- -- eighty billion dollar range.
So on that we're -- inventory what you're seeing actually we have the same number of great brands that we had before.
But we've expanded we have more programs so we just -- they keep expanding even more so so far inventory has not been a concern if you on the site you'll see is everything sold out now we have lots of brands and lots -- -- -- -- Let me shift gears just slightly and ask you about the business climate -- -- David -- on earlier in the show we -- talk about taxes and you did an interview it but you -- -- An agency thinks about taxes saying that's not at the -- your list lower taxes -- you think people are obsessed.
With lower taxes -- you would like to see more flexibility with visas for people -- hiring -- but what why would lower taxes decently and it's.
Support -- so lower taxes in the everyone would love to pay lower taxes on anything when your company or person.
-- doesn't make a difference in terms of starting new businesses it doesn't discourage anyone from investing in MySpace at all.
So it's not even issued -- comes outside and on the list relative issues at all.
In terms of what do we do as it did as a disincentive to start businesses not at all not a factor some people might have -- -- what he'll say.
The opposite but at some point -- would it would would -- it depends on what the tax rate -- -- mean we have relatively low taxes in this country but.
If taxes start going up and continue got -- saying that would get in the way business -- -- Obviously if you -- -- -- giving 90% tax rate to be a huge issue the question right now we're really really isn't talking about is if it's three or 4% more does that make a difference.
In one's interest and starting a business in the answer is no.
Especially for people like us out onto the doors are making these decisions here we -- capital gains so our taxes are very low.
But that this issue the immigration issue in particular we do hear a lot of CEOs talking about that's -- a technology CEOs are you win the attach a -- to a diploma camp with you know and apps and there are many -- earlier deal that would work great.
But -- we need we need more people with technical degrees and if we don't get them in the United States.
This is like mine are gonna employ them elsewhere -- and that's not good for the United States I'd rather have a in the United States come work for us maybe -- -- -- business after that.
And these are people we want to in this country otherwise it about their own countries started divorce how much are you hiring right now.
So we've hired in the last twelve months we've -- 500 people.
-- New York almost all New York 80% or in New York and over the next probably six months -- I'd hire a couple hundred more.
It's things like good to talk to you can -- -- coming and thank you semi Kevin Ryan is the founder and CEO of the gilt Groupe.
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