Discount luxury goods retailer Gilt appointed board member Michelle Peluso CEO effective at the end of February 2013, replacing company founder Kevin Ryan. Peluso is currently the global consumer chief marketing and internet officer at Citigroup and has served on the Gilt board since 2009. She fills the position held by Ryan, who founded the innovative company in 2007 and will remain as chairman. Current chairman Susan Lyne will become vice chairman.
Many startups are able to work remotely with just a laptop and working internet connection — though good luck finding one right now. For online retailers focused on pushing products out into the real world, "just ship it" is taking on a whole new meaning. Between extensive power outages and three days without a functional subway, the disruption is likely to last through the week.
Gilt Groupe CEO Kevin Ryan said up to 90 of the company's 900 employees were being laid off. The departures include John Auerbach, who led the company's Park & Bond men's apparel site, and Nathan Richardson, who led the company's Gilt City daily deals operation.
Online luxury clothing retailer Gilt Groupe plans to launch an initial public offering late next year or possibly in 2013, the company's chief executive told the Financial Times. "I think it's entirely possible that in 2013, depending on the markets and depending on how things are going, that we would look to go public," Chief Executive Kevin Ryan was quoted as saying.
Gilt Groupe hopes to attract up to $100 million in new financing next year, most likely with the help of a new investor. The money would help the flash-sale site expand its offerings beyond designer apparel and travel packages, said CEO Kevin Ryan.
Gilt Groupe, Inc. announced that David Zucker has been named chief marketing officer. Zucker will report directly to Kevin Ryan, Gilt Groupe's founder and CEO. As chief marketing officer, Zucker will be responsible for the company's generation of demand across all channels, creative direction, overall brand position, research and analytics.