Successful online jewelry startup ‘opens up shop’
BaubleBar’s Daniella Yacobovsky and Amy Jain on their expanding presence in the e-commerce world
- Duration 10:00
- Date Nov 30, 2012
BaubleBar’s Daniella Yacobovsky and Amy Jain on their expanding presence in the e-commerce world
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Well we have the the founders now of bubble -- good it's good to talk about a return.
To the physical and ladies thank you so much for joining me here and we have by Daniel forgive me yup yup -- -- -- about ski very glossy okay Terry and and Amy Jane much easier different I -- Thank you so much for joining us here -- we are talking about it though just there was no dead in and touched at how people are are using technology.
And we sort of you know for a while you know -- where everyone went to the cards in the physical world you guys started out on line.
But higher opening a store fronts and final what was taking one step back quickly for those who are familiar with all the bar and in night give -- the that elevator pitch.
This summation of the.
Company real quick charts so what -- -- does is we source high -- fashion jewelry direct from designer and and we sell online to consumers about the mark got.
So we work with the network got a few hundred different designers we carry a really broad selection of great on trend high end fashion Hillary.
And then that we bring about a 10250.
Skis new -- every single week and they can shop our editorial to pick up the latest and greatest styles.
All right it's an Elwood got -- -- you guys have been online for awhile.
What was behind the Genesis of opening the physical store.
Yes and we opened our first -- like you mentioned the bar and up till our time York city.
We have been fortunate enough to be part of a few pop up shots this -- -- market and the results for -- just staggering.
We're seeing when he walk into the shop and pick up piles of jewelry they were having so much time trying it on with their friends.
And it really -- -- -- -- -- us pot is for realizing that our customers you know really wanted to experience our brand our product no way there was going to be near impossible for us replicate online.
So that's what naysayers are saying you know -- Did dozen years ago you know for some of -- the big retailers maybe one reason took -- so long.
And I think about chain stores and department -- to really have a presence online for e-commerce.
Is that a lot of people like to feel things and that's what we've heard about show -- a lot of companies Best -- for one has really.
To their share eroded by people going in there looking at -- tedium by you don't Amazon or somewhere else right now and you guys are reversing that trend -- -- part -- -- was more -- Parker limelight some of these other.
Companies also doing a similar thing it.
Do you see this trend continuing and are you looking to maybe go full time here with of them all of our New York.
Can't I these are really setting trends anywhere in lean thinking about a -- -- strategy we kind of had -- really think about our African martyr peers they clearly have been hearing -- -- and it just.
You know one -- e-commerce companies -- -- a lot of Dina.
We know exactly what our customers looking for and what we've done with the bar in New York City as we've merchandise and -- real time basis stays and what are -- customers are interacting with online.
I'm not really powerful well you know when she walks into the store she is it's filled with stuff and and is she you know who it is yes it is -- -- -- -- -- on -- wish -- she -- -- on social channels and -- kind of feels -- -- this customized experience south.
Worst seen as a really -- -- overseeing our friends and other start at really kind of leveraging on at the DN that they have access tail.
And she able to use that that it is in her profile ever to maybe he said he can -- I didn't exactly we love that we love when that come and we have Scott's waiting for and I only have champagne waiting for the Carleton S it's a funny shopping experience they get to didn't -- that aren't and -- -- jewelry.
So forget going to the others fairly famous civil limb rooftop -- forget that -- -- -- -- -- -- -- -- -- So it's like a better deal going there but I talk to -- in terms of the traffic -- are you starting to see traffic flow because this is sort of been no word of mouth your building up.
We it would through directly I mean obviously -- the customer who accesses your website knows about this right I mean.
Is that it was a sort of soft opening is that -- It's actually off -- attached to our headquarters -- it's very much kind of a test lab -- right now -- very much experimenting but.
Because of that we are trying to get the word out you know our customers are bringing in their friends from mark their coming at lunch time.
But we're now seeing that there are a lot of ways in New York actually get the -- out there's a lot it.
On editors and a lot of online bloggers have been really supportive and -- drive their traffic to you are shot well.
It's a great way to get them and to have a personal experience that you don't necessarily get if you're going on in reviewing website and one thing that we've also comments really nice is that the bar -- in -- room.
A replica of what you see online it's an extension of our brand so it's a chance to shop some of the best sellers that you see online but we also have a lot of products in there that's not on the site -- you get exclusives you get sneak -- and we have a really really loyal and -- fan -- that comes back to -- site multiple times per week.
And this is a really fun opportunity for them to come and experience are granted different -- it's the same folks.
Course -- our site you are talking to us on social media.
And this is really just another channel for them to engage with the -- Barbara who is the typical shopper measles that you guys have a pretty.
Firm profile I mean.
-- who who is the shopper right now it's actually pretty broad range so we think one thing that's really great about our product specifically is fashion jewelry is a fantastic area for women to experiment with trends.
Where they make you feel little more uncomfortable when it comes to apparel or other items at their purchase I -- we -- a couple of things here Tuesday -- examples of it to show is -- an -- what you guys are offering if you're not familiar with the -- absolutely so you know.
We gonna become some of those guys with some -- We think that statement necklaces are really really big Trenton and CNN this -- -- but wearing them.
Is it really easy way to throw on some -- get up.
Pop of color a little bit of sparkle especially with the holiday pretty -- right very fast and a lot of women who are leaving work going -- holiday parties going to another party.
You wanna be able to -- sitting on -- -- work attire and be able to go out so.
You know obviously pearls are always something that's really fun it's a little bit more classic.
-- -- these styles are sort of pull them -- from the caveat definitely cities are styles that are may be you know a little bit more festive a little bit more exciting there's some sparkle and here's an idea of the price tragedies for those of us who are novices.
Absolutely still you know our our whole business models about taking up that -- -- so.
Our prices range from about 25 dollars to three -- deep but.
On -- -- RC spotted kind of forty to sixty dollars and so this necklace is more have a higher hands on the -- is going to be you know I think this retails for 84 dollars on our -- -- these designers that that that women are familiar wealth in general and in.
Do you promote that -- sort of something that they provide -- -- sort of a test market for them maybe before they take it to it's larger audience yeah.
We just operating under private label brands not a barn and we found -- one category were women are actually fairly frantic not ticket purchase.
And the designers actually love working with that's me push a lot of volume for the retailers market the products so much -- -- -- between times cost that.
Designers actually don't sell a lot of -- and that you know the major stories that women are currently buying -- -- I know we we talk all the time about you know consumer confidence.
The yen very slow recovery we just had yes sandy come through.
What is the state of of your consumer right now you're going to see a lot of them face to face and you clearly have a in excellent database going there you know and -- in interacting with them on line.
What is the state of that the consumer right now.
Yeah I think we need monster really fortunate time.
The price action fund late update your wardrobe and it's such an exceptional price plane when you want to get complement and let me go to work when they go out and this is so conspicuous.
And -- that we feel that I and that we're seeing our customers.
Really really picking up -- and this holiday season to incorporate into their -- Now that you guys have some some pretty big hitters backing you.
What are the what are the plans -- the expansion plans are you gonna raise more capital -- you.
-- targeting an IPO out a couple of years from now what's what's the plan.
Oracle is really just -- common -- retail destination for this category at large so right now we're really focused on expanding into you.
All of the different areas that allow us to be that -- to you for the customer so whether X.
You know extending our offline after -- or going abroad and and shipping internationally I think we're really focused on.
How fast to expand -- to all those areas and and that's he continued to expand we'll we'll think about.
The capital raising that makes the most.
Now what about revenue you guys -- you know revenue positive yet -- that something -- on the line.
The good thing about an e-commerce company -- revenue positive on on day one and so that says that's -- huge -- covered.
Our our business is the fact that we have revenue generating customer without large overhead and again audiences as you said -- and this is part of your storefront as part of your office.
And how is that working out does that make things a little more interesting of the -- a little bit crazier.
Us and I mean we haven't as an e-commerce -- -- guess he gets made on your customers we've had people that been shot -- since day wine and they come at a store we get to -- -- -- percent.
It's great for our customers are getting to experience our brand offline and it's actually completely sapped by -- team.
So they can come in on one day air -- can -- be working at one day my -- -- to -- class.
And it's a great way friend and to understand our brand and what it stands for and kind of personalities behind that.
Any advice for other entrepreneurs out there in this these uncertain times where -- money's cheap but no one really seems to want to -- -- right now.
Yeah I mean it I think it's about really following your passion and really doing what it is that you care about we both.
Laughs you know jobs and financing and decent thing because we felt that there was a real consumer he didn't.
We work consumers of this product and we felt like there was any then any chased after and it.
We're very fortunate in that you know a lot of other women felt similarly so I would say just really.
Follow your passion -- what's your got and be prepared to get really scraping.
But Danielle and Amy thanks so much for joining us here from all of our good luck to you both then thanks again for joining us on Fox Business.
And I think we're gonna take a quick peek out the website for all mobile bar -- for those of -- who are viewing.
There -- there you can see it right there and remind me.
Do you have an -- functional right now is it only through the website we do have a mobile web -- so if you want to shop online it's very easy to do so for all your hand held devices all right.