What is Gilt?
Gilt Groupe is an online retail store which came into existence in 2007.It is a private company which is headquartered at New York. Kevin Ryan is the founder of Gilt Groupe. The company offers a wide a range of branded luxury items. Most of the world’s sought after designers work with the Gilt Groupe. The company is also described as the ‘darling of luxury obsessed bargain hunters’. Gilt is known for its successful flash sales. Flash sales sells branded and designer specific items at very high discounts for about 24 to 36 hours. The store offers everything including men’s wear, women’s wear accessories, designer apparels for children and lifestyle items. They also provide luxury travel packages to their members.
Members can only participate in the sales. There is no membership fee associated with joining the Gilt Groupe but it is by means of invite only. The Groupe informs the members about the shopping event through email
The sales site of the Gilt Groupe for men is called Gilt Man. The men’s only site was launched on October 2009.Gilt will also open a traditional retail store for men in 2011.Gilte has now expanded its product category by featuring indoor and outdoor furniture, lighting, house wares, table tops, rugs, bedding and electronics. At present the Gilt Groupe has about 2 million members. About three quarter of them are females with high income. The revenue of the company in 2009(two years after the launch) was $170 million. Unlike other online retail sites Gilt do not advertise but they widen its network through existing members. It offers incentives to the members if they invite their friends or relatives to join Gilt.
Gilt is the ultimate fashion destination for all luxury lovers. Even though the fashion industry was hit by recession Gilt Groupe was able to succeed through its creative and innovative ideas.