In 2000, when many of the early dot-coms were imploding, Greg Selkoe created an e-commerce site that was years ahead of its time. Its focus? “Verge Culture,” a convergence of hip-hop, pop art, skateboarding and electronic music subgroups that often followed small up-and-coming brands and lent big companies some street cred. His company would give these consumers access to fashion that was hard to find outside of New York or L.A and build on their unique brandloyalty.
Today, Karmaloop is a 170-employee company with offices in Los Angeles and New York – and a subsidiary in Europe. The site attracts four million unique visitors a month and is on track to do $160 million in revenue this year. Despite its growth, Karmaloop stays true to its indie consumer by offering limited quantities of products that, in many cases, are exclusive to the site.
Of course, communicating with this audience is an art unto itself. Selkoe, 39, favors a grassroots marketing approach – working with 200,000 brand ambassadors who promote Karmaloop via social media, pop art, even fortune cookies.
Entrepreneur spoke with Selkoe about how his branding embeds itself into a culture.Featured Posts, Updates and tagged business, entrepreneur, featured, Strategy. Bookmark the permalink.