GROWING FROM 0 TO 100 MILLION W/ GREG SELKOE, FOUNDER OF KARMALOOP
December 16, 2014 at 12:47 pm
Karmaloop is the largest online streetwear retailer in the world. How did that happen? It wasn’t easy. Karmaloop founder Greg Selkoe takes us on a journey from how he built his business, and what it takes to keep it growing today.
What’s great about Greg’s story is how he, like many founders, began with a problem they saw people were having or they were experiencing themselves. He noticed how hard it was for people living outside of major urban areas like NYC, to get their hands on the dope upcoming clothing brands. Turns out the solution to that problem was worth hundreds of millions.
Greg breaks down in this interview how doing non-scalable things is what made his brand stand out. His phone number is still on the website today. Karmaloop was also one of the first online retail brands to fully take advantage of co-creating with it’s customers using rep codes. Rep codes is a loyalty/coupon system that allows customers to earn points when they get other people to use theirs. Greg gave us funny stories about just how far some people would go to earn points.
He also dropped a few gems about:
- How he pitched Karmaloop in their early days and how you can too
- Why every brand needs a compelling story
- How to choose who to work with
- …..and much more.
If you enjoyed the interview be sure to hit Greg Selkoe up on Twitter (@Selkoe). Tell him The Phat Startup sent you.
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