The Chinese e-commerce giant will have $8 billion in cash after its IPO as well as valuable stock it can use for acquisitions. The ...
Doug Mack will discuss how the flash sale site achieved 500% sales growth.
Since One Kings Lane launched in 2009 as an early entrant into the members-only, flash sale space, a slew of retailers ranging from Amazon.com Inc. to PCMall Inc. have debuted their own daily sales sites.
While the proliferation of flash sale sites shows that the format works, Doug Mack, CEO of One Kings Lane, will address what it takes for a retailer to succeed in the increasingly competitive space during a session called "Leading today and building for tomorrow: How One Kings Lane is growing the daily sales space” at the Internet Retailer Conference & Exhibition 2011 in San Diego.
One Kings Lane’s focus is high-end home décor and its daily sales offer registered members access to a changing selection of exclusive, deeply discounted merchandise from designer names. It’s a formula that the company has leveraged with considerable success—Mack says the retailer’s sales rose 500% in 2010 over 2009, though he did not provide revenue details. One Kings Lane also has gotten Wall Street’s attention as it raised $23 million in new funding round from existing and new investors in February.
Mack says he will talk about what his site and others like it must do to keep shoppers interested in order to sustain growth in e-commerce.
"I joined One Kings Lane as a big believer that next-generation e-commerce models, such as flash sales that are built around customer interaction models unique to the Internet, will introduce an exciting new wave of innovation for the industry," Mack says. “One Kings Lane is truly reinventing how consumers find and purchase distinctive home products, building a new model where curation is king.”