Kim Kardashian may be known for her reality show, but she's also making a name for herself in shoes.
Not just wearing them — designing them and selling them at ShoeDazzle, where she's chief stylist.
Never heard of ShoeDazzle?
Amazon has — it's paying close attention to the three year old company, which is on track to top $70 million in revenue this year, from millions of women spending forty bucks a month. And sources tell me that Amazon and other retailers have expressed acquisition interest.
Kardashian co-founded ShoeDazzle with celebrity attorney Robert Shapiro to bring her celebrity glamour and the idea of a personal stylist to the masses. The company has an unusual business model — it's a monthly shoe subscription service. To join ShoeDazzle shoppers submit an online fashion survey and their credit card info. Every month a "digital stylist" works with your preferences to suggest shoes and accessories tailored to users' taste.
Every month users are charged $39.95 for a pair of shoes, but members can opt out within the first five days of every month. But in order to opt out, members have to go to ShoeDazzle's website — so they're exposed to the new shoe options, which means they're more likely to buy than if ShoeDazzle were a standard retailer.
Women are flocking to the site — its traffic has increased tenfold in the past year and a million women fill out the style survey each month. It's also one of the most popular retailers on Facebook with over 900,000 fans.
Kardashian says she's determined to bring ShoeDazzle's members the latest styles without topping that $39.95 price point. And COO Deborah Benton says they can keep prices down thanks to a vertically integrated system — they design all the shoes in-house, with Kardashian's help, and they manufacture overseas, owning every point in the supply chain.
There's no question ShoeDazzle has plenty of room to expand to the rest of the world where Kardashian has a fan base. Next up, the company's looking to bring the service to the UK. Is Kardashian interested in selling to the likes of Amazon? She says for now she's just interested in growing the company, and would be interested in eventually bringing it public with an IPO.
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