Susan Feldman is the co-founder and chief merchandising officer of Internet phenom OneKingsLane, the upstart in the home décor space.
After stints at Ralph Lauren Swimwear, Polo Jeans and Warnaco, Feldman traded in apartment living in Manhattan for a house in the Hollywood Hills of Los Angeles that she shared with her husband and daughters. It was from her frustration with finding great furniture online to furnish her home, that she came up with the idea for an online high end home décor site, similar to what Gilt is for fashion.
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She partnered with Alison Pincus in 2008 to bring her vision to life. Pincus (wife of Zynga CEO Mark Pincus) heads marketing and strategic development. They launched at the height of the recession, working out of their respective homes with $90,000 of seed capital they committed themselves.
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It didn't take long for them to see they had a product that could fulfill a need and sales grew explosively surpassing $100 million in revenue, then $200 million, and now it is the No. 2 internet site for interiors, behind only behemoth Pottery Barn.
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Susan sat down with me at CNBC headquarters to share her experience, success and mistakes and to tell me about the surprising business model that made 2008 an ideal time to start OneKingsLane.
- Karen Finerman, Metropolitan Capital Advisors