One King’s Lane is doing pretty well for itself these days. The company is now exceeding $100 million in yearly revenues after experiencing an “explosive 2010” in which annual sales jumped more than 500%, with 75% of those sales coming from repeat customers. Who is driving those sales?
One Kings Lane CEO Doug Mack hung out with me for a bit to chat about One Kings Lane’s crazy huge growth and where the company is going from here. During our conversation, he revealed that women are largely responsible for One Kings Lane’s enormous increase in sales. More than 90% of One Kings Lane’s users are women, typically mid- to upper-income, and distributed throughout the U.S.
“That’s one of the things that’s driving next-generation commerce sites like ours,” he explained. “Women spend more time on social networks and have more friends on places like Facebook, and when they find something amazing, they can broadcast it out.”
Stay tuned for Part 2 of our interview, where I chat up Doug Mack about how One Kings Lane is squaring off against the competition in the home décor flash sales market.