As retailers struggle in a changing environment, Chieh Huang is forging his own path as the CEO of Boxed, an privately-held online bulk retailer that he says brings more to the table than its competitors.
"All these retailers these days are under pressure. Why? It's because … for the last 30 years, value equaled price. But now, value equals price, convenience, and a little bit of brand. And so that's what we bring to the equation," Huang told "Mad Money" host Jim Cramer on Friday.
Boxed has seen its sales skyrocket in recent years, from $8 million in 2014 to $100 million in 2016. Huang attributed the jump in part to a booming number of millennials that have grown up with the e-commerce model.
"They've gotten everything delivered to them throughout their childhood, and now that they're the biggest generation in the workforce, the biggest baby-producing generation in America today, I think those habits are going to continue," the CEO said.
Watch the full segment here: