Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
Karmaloop Media will focus on such areas as music videos and commercials.
Online apparel retailer Karmaloop, which sells what it calls streetwear to the hip and fashionable, has launched a full-service video production company called Karmaloop Media. The e-retailer, No. 138 in the Internet Retailer Top 500 says the video arm will focus on such areas as music videos, commercials and branding.
“There is no one in the world that knows global influencer culture better, what works and doesn't work,” says CEO Greg Selkoe. “Our vision coupled with a team of extremely talented individuals gives me full confidence that Karmaloop Media is going to produce some groundbreaking work.”
Karmaloop Media has already produced work for several musicians and brands, including hip hop artist Lupe Fiasco and sneaker manufacturer Vans, the e-retailer says. Karmaloop adds that music video director Shomi Patwary and graphic artist Jack Cearnal now work for the production arm.
The retailer says its production unit builds upon the 2008 launch of Karmaloop TV, an online entertainment network that offers video content designed to appeal to the retailer’s young consumers.
Karmaloop is not the first e-retailer to move into entertainment production. Amazon.com Inc., No. 1 in the Top 500 Guide, earlier this year selected London as the home for its global creative center for its film and television offerings.