BagBible

The lowdown:

• Launched in December of 2007 by CEO Adam Bernhard, Brett Markinson, and Konstantin Glasmacher.

• Bernhard says, “I always keep in mind that we’ve got two customers: the brands and the shopper.  For the brands, we serve as not only a way to just clear their inventory, but as a marketing tool to engage new customers” adding that, “We allow the brand to control their own destiny.”

• Offers off-market pricing on some of the most coveted clothing labels, accessories brands and beauty brands (a recent addition to the lineup) at discounts between 40% and 75% off.

• To become a member, you must be invited by a friend (via email–your friend will get a $10 credit to the site if you sign up), get on the wait list by simply signing up, or find a VIP email referral to use, occasionally given out by Hautelook.

• Each brand’s as sample sale lasts on the site for 24 to 48 hours, which in turn causes some of its members to obsessively check the site each morning so they’re abreast on what the day’s offerings are.

• Items sell out quickly, and there’s only so much stock to go around.  If an item says “On Hold” that means that the last piece of inventory for that item is in someone’s shopping cart.  It will be released if the item has been in a member’s shopping cart for 10 minutes with no activity.

• On any given day, there could be seven, sometimes even eight sales in motion to peruse, depending on how long each sale is and how many new sales commenced that day.

• Think a current season (as opposed to last season’s leftovers) $230 Lauren Conrad maxi dress for $68, $198 Citizen jeans for $110, coveted $89 Go Smile whitening systems for just $30 and a $495 Robert Rodriguez trench for $149.

• Basically, If it were a brick-and-mortar establishment, lines would form outside in the early morning hours (even in a snow storm or pouring rain) and wrap around the building, with a subsequent mass of clothes flying in every direction, possibly a little hair pulling and bow throwing.  After all, sample sale shopping is practically a contact sport.

Hautelook’s Membership:

• Currently, Hautelook serves over half a million members.

• Bernhard said that each month, Hautelook’s membership grows by 30%.

Who is Hautelook CEO Adam Bernhard:

• Spent time working at beloved contemporary clothing label Joie before launching Hautelook.

• Bernhard’s success isn’t much different than that of his successful entrepreneurial comrades. He saw a hole in the market, and Hautelook filled it.

What’s New:

• To add insult to injury for all those businesses tanking during the prolonged recession, just Tuesday morning, Hautelook announced that they scored $10 million in new financing from Insight Venture Partners, a partner that Bernhard says, “makes the most sense.  We thought it was a good time to raise some money, and although we were approached by many firms, Insight turned out to be a great fit for us.”

• They’ll be putting their newly acquired funds to good use, debuting a top-secret massive site re-design next month that Bernhard says, “will make the shopping experience much more exciting for members.  We’re doing things to the site that you can’t even imagine,” and launching new marketing efforts, developing inventive techniques to maximize their outreach to new brands and new customers.

• Last week, Bernhard issued a personal apology email to all members of Hautelook after the site experienced some hiccups during two popular sales, two days in a row featuring (surprise) Manolo Blahnik shoes and Kiehl’s bath and body products.  In the apology letter, Bernhard offered up his personal e-mail address in order to field member questions and comments regarding the incident.

• “It was the first time I personally reached out to our members,” Bernhard said “and I really wanted to make sure they know that they are the most important thing.

• In response to the heartfelt apology, Bernhard said that he received, “thousands and thousands of emails, none of which had a negative thing to say.  All of them thanked me for my attention to the issue or commented on how appreciative they were to hear from me personally.  The response was extremely positive.”

How are the Brands Featured on Hautelook Chosen?

• When it comes to the tasks of choosing brands, Bernhard hands the baton off to his branding ace, his Senior VP of Brands who he mentioned spent 12 years in the buying department at Saks Fifth Avenue, and a no-doubt fashion insider who has her finger on the pulse of the customers needs, and what they want to see in Hautelook’s sales.

• When asked which label’s or brand’s sales have garnered the most amount of traffic on the site, Bernhard replied with a long list of predictable standout stars, that he noted was not entirely representative of all of their biggest hits, but a sampling of sale studs which included BCBG Max Azria, Diane Von Furstenberg, Seven for All Mankind jeans, Splendid, Ella Moss, and one that was featured on the site just yesterday, Lauren Conrad.  Basically, these brands sell out, and sell out FAST.

What’s Next for Hautelook?

• Bernhard said, “We’ve got huge things on the horizon, but you know, I’m not exactly ready to talk about them.  When we are ready, you can be sure that we’ll announce them in a big way.” A cryptic yet alluring answer–a tactic Bernhard seems to know well.

• Just to wet your taste buds, he did mention that Cartier, Cavalli and Smashbox cosmetics sample sales are all already on the calendar and coming our way very, very soon.

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