Birchbox recently opened up its first retail store in New York City. The beauty e-commerce startup is known for its subscription service, where customers pay $10 per month to receive a box of product samples. The company has attracted more than 800,000 users since launching in 2010, but only around 30 percent of those subscriptions translate into full-product online sales from Birchbox.com. Its new store is an attempt to figure out why
Over the last few months, New York-based startup Birchbox has taken over the retail realm. In a little over three years, the subscription commerce beauty brand has grown to 800,000 subscribers, has 250 employees and has worked with 800 brands, amounting to $96 million in annual sales — not to mention its recent venture funding acquisition and plans to open a brick-and-mortar location this summer in SoHo. Birchbox Co-Founder Hayley Barna sat down with Retail Online Integration at last week's Women in Retail Leadership Summit to discuss how she and co-founder Katia Beauchamp came up with the business model, what their vision is for the future of Birchbox, and share her thoughts on expanding to other retail channels.
In part one of this interview, Birchbox Co-Founder Hayley Barna discusses how she and co-founder Katia Beauchamp came up with the business model and what their vision is for the future of Birchbox.