Shoptiques

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Shoptiques is an online marketplace for women’s clothing and home décor. The company was started by Harvard Business School graduate and former Goldman Sachs investment banker Olga Vidisheva.[1] It was founded to give small local boutiques an online presence by providing them access to customers worldwide as well as services such as photography, shipping assistance, and digital marketing.[2] As of 2015, Shoptiques ships internationally to five countries.[3]

History[edit]

Vidisheva spent her second year of Harvard Business School surveying over 800 boutiques to help her write the business plan for Shoptiques.[4] After graduation, she was accepted as a single non-technical founder to Y Combinator[5] and launched the site in Spring of 2012 with 25 boutiques on the site.[6]

Shoptiques has raised over $2 million in funding from Greylock Partners, Andreessen Horowitz, SV Angel, Benchmark, and Y Combinator.[7] In November 2014, Shoptiques added its 1,000th boutique to the site.[8] In March 2015, the company released its mobile app.[9]

Business Model[edit]

Shoptiques generates revenue based on commission, taking a percentage of each sale made on the site.[10] Each boutique curates its own selection of products on the site and customers can purchase products from multiple boutiques with a single checkout experience.[11] In 2014, Shoptiques recorded total revenue of $3 million.[12]

Press[edit]

Shoptiques has received media attention from fashion publications including Vogue (magazine), ELLE, and Women's Wear Daily.[13] Shoptiques was named to Forbes’ 2015 list of America’s Most Promising Companies.[14] Vidisheva was named to Forbes’ list of 30 Under 30: Retail.[15] Vidisheva was also named to Inc. (Magazine’s list of 30 Under 30.[16]

References[edit]

  1. ^ Eric Markowitz (March 12, 2012) "Fashion Start-up Takes Aim at $20 billion Dollar Industry" Inc. (magazine)
  2. ^ Teresa Novellino (July 27, 2012) "A big dream for small boutiques" BizJournals
  3. ^ Jessica Binns (January 05, 2015) "Small Brands Go Big with E-commerce" Apparel
  4. ^ Catherine Sabino (September 16, 2013) "Olga Vidisheva Debuts Shoptiques.com" Gotham (magazine)
  5. ^ Tomio Geron (March 28, 2012) "Y Combinator Demo Day: Which Will Be The Next Dropbox?" Forbes (magazine)
  6. ^ Leena Rao (March 21, 2012) "Andreessen Horowitz, Greylock Back Marketplace For Local Fashion Boutiques, Shoptiques" TechCrunch
  7. ^ https://www.crunchbase.com/organization/shoptiques/funding-rounds TechCrunch#CrunchBase
  8. ^ Ben Fischer (November 12, 2014) "Shoptiques, the online store for boutiques, finds a cheaper path to Internet sales success" BizJournals
  9. ^ Britteny Dee (March 18, 2015) "Shoptiques Launches Mobile App, Founder Olga Vidisheva Has Sights Set On Expansion" Fashion Times
  10. ^ Kim-Mai Cutler (March 30, 2012) "Here Are The Women of Y Combinator And They Are Awesome" TechCrunch
  11. ^ JoAnne Klimovich Harrop (April 27, 2015) "Pittsburgh store owners say Shoptiques.com creates online word of mouth" Pittsburgh Tribune-Review
  12. ^ Karsten Strauss (January 30, 2015) "World Fashion On A Single Site: Shoptiques In 2015" Forbes (magazine)
  13. ^ "Press — Shoptiques". shoptiques.com.
  14. ^ "America's Most Promising Companies". Forbes.
  15. ^ Claire O'Connor (January 5, 2015) "30 Under 30: Meet The Young People Reinventing Retail And E-Commerce" Forbes (magazine)
  16. ^ Donna Fenn (April 22, 2015) "Shoptiques: An Online Home for Small Boutiques"Inc. (magazine)