San Francisco-based RedEnvelope, an online and mail order specialty gift retailer, says it achieved a 300% increase over last year's sales for Valentine's Day and experienced its largest order volume to date. Over 10,000 packages were shipped on peak days the week leading up to Valentine’s Day. The company says the success of this season sets it on a clear path to profitability for the fourth quarter of this year.
The Valentine's Day catalog featured an assortment of proprietary goods developed by RedEnvelope and was mailed to approximately seven times as many customers than last year. Seven out of the top 10 best sellers for Valentine's Day were RedEnvelope exclusives. Proprietary products represent approximately 30% of the total collection and the company will continue to increase that number. "Our differentiated gifts place us in a clear leadership position with our target customers who look to us for creative ideas every holiday," said Hilary Billings, chairman and chief marketing officer.
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