Sometimes, we're really jealous of those who initially invested in flash sales site Gilt Groupe back in 2007.
Why? Because after a fast ascent to the top of the online retail mountain, the company continues to dominate the scene with new products, including Gilt Man, Gilt Fuse, travel deals Web site Jetsetter, an iPhone app and, most recently, an iPad app. And while several sources inside the company say that talk of a private label is false, it's always a possibility....
Gilt City is being compared by techies to Groupon, a very popular sales site that offers discounts on products if a certain amount of people sign up. But it's different because, while there's a limited quantity available in each deal, it doesn't require a minimal amount of participants. And of course, the offers are a bit more high end. Initial deals have included 50% off dinner at Rouge Tomate and 50% off packages at Vartali Salon, a midtown spot beloved by Gilt founder Alexandra Wilkis Wilson.
If Gilt City is successful in New York, it'll expand to other metropolises.
Of course, all this good news about Gilt is exciting, but the company still has its faults. One of which is its insane return policy, highlighted today on Racked National.
But as Gilt moves in the direction of going public, it's likely that issue will be resolved.