Discount Daze

Gilt Groupe’s Obsession with All Things Vertical: ‘We Plow Through 100 Ideas a Week’

Mr. Deeming, via Crunchbase

What’s life like for Rob Deeming, Kevin Ryan’s “chief of staff” at Gilt Groupe? In a word: busy. The 33-year-old’s job centers around what seems like Gilt’s primary objective these days: launching new verticals as its core discount business matures and e-commerce competitors multiply.

In an interview with Mr. Deeming, a Brit with a Harvard MBA, The Street reports that the majority of Gilt growth comes from “a dizzying array” of new full-priced verticals, such as Jetsetter, Gilt Taste, and Park & Bond, which are expected to rake in $100 million combined within the next fiscal year. Gilt City, meanwhile, will account for 10 percent of overall revenue.

Dizzying seems like the right word to describe the pace. Mr. Deeming told the Street, “Now we plow through 100 ideas a week,” Read More

Old Dogs Learn New Tricks

Gilt Groupe’s New Men’s Site, Park & Bond, Looks Duditor-Approved

He'd fit right in the Conde elevators.

Gilt Groupe founder & CEO Kevin Ryan sent out an email this morning announcing the launch of its new men’s fashion site, Park & Bond. Between the luxe offerings ($210 for an embossed Alexander McQueen passport holder, anyone?) the editorial layout and service-y content, the beta site comes across like an e-commerce version of GQ as filtered through the Lucky lens .

That shouldn’t surprise anyone who read Betabeat’s interview with Park & Bond president John Auerbach back in June, in which he explained…err…rather gracefully tried to side-step, the symbiotic relationship between the esteemed editors of Gentleman’s Quarterly and Gilt.  In Betabeat’s eyes the mutual benefits are clear,  Gilt gets some press (literally, P&B will have a page in GQ) and a marquee name to distinguish P&B from the seeming endless parade of new fashion verticals. And GQ, after years of being stymied by Conde’s  web phobia, gets a new revenue stream. Read More

Old Dogs Learn New Tricks

Gilt Groupe’s New Men’s Site Get’s Cozy With GQ, Like All Up In There

john_auerbach

Gilt Groupe just announced that its new men’s site, Park & Bond‒ a name that practically drips with the silver-spooned sound of privilege‒ will be partnering with Conde Nast’s GQ magazine on an e-commerce strategy. Not only will Park & Bond host an online store that features products “handpicked from the pages of the magazine by the editors of GQ.” But starting with the September issue, GQ is also promoting the venture in its pages and on GQ.com to drive readers to Park & Bond. Betabeat talked to Park & Bond president John Auerbach (Gilt employee no. 5), on the phone from the Pitti Immagine Uomo show in Italy, about the partnership‒and the genesis of that name. Read More