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?
Women.
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.
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Startup/Business
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One Kings Lane is the only private online sales site solely dedicated to designer home décor. Each day (Monday – Friday) there are 3-5 sales that are brand specific and last 72 hours. Events begin at 8 a.m. PST/11 a.m. EST. For the first time ever, consumers have access to the personal inventory of high profile interior designers thanks to the Tastemaker Tag Sales. The sales will include an exciting, eclectic mix of vintage finds, one-off samples, décor and furniture from a designer’s branded line. The first TTS will launch on April 10th. Every Saturday, for three days, an interior designer will offer a signature assortment of hand-picked selections, which will be offered to One Kings Lane members at 50 percent or more below retail value. One Kings Lane was founded by Susan Feldman, a former fashion executive who has worked with such companies as Warnaco/Ralph Lauren Swimwear, Polo Jeans, and C&C California, and Alison Pincus, a digital media expert who spent time at ELLE Décor, Home, and Metropolitan Home. When Susan moved back to Los Angeles from New York a few years ago, and into her first house as an adult, she was house proud, but noted the frugal climate. She saw an opportunity to create a new way to make beautiful home furnishings available affordably, a sort of online sample sale. She and Ali were introduced and Susan’s background in retail, combined with Ali’s background in digital media created the perfect combination to create One Kings Lane.
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Doug Mack is CEO of One Kings Lane. As CEO, Doug is helping to create one of the most exciting online brands today. Doug previously was CEO and co-founder of Scene7, leading platform for e-commerce.
