How Data Helps This Fashion E-Commerce CEO Stock Up for the Fall Season
Retail buyers from Macy’s, Bloomingdale’s and Amazon attend fashion trade show Coterie to handpick items for sale. Fashion startups also cruise the designer booths, including Rakesh Tondon, CEO and co-founder of Le Tote, a San Francisco-based business that lends prepaid outfits to members for $49 a month. Since users can rent unlimited looks each month, its stock requires a steady stream of new looks to keep subscribers engaged.
Tondon, a former investment banker, walks us through the process of replenishing the LeTote.com with fashionable merchandise. It’s a balancing act between marketing sales reports and what’s in vogue.