Gilt Groupe

Gilt Groupe, the glitzy brainchild of Kevin Ryan, Alexis Maybank and Alexandra Wilkis Wilson, sashayed into the e-commerce scene in 2007. Known for turning the flash sale into an art form, Gilt offered luxury fashion at cutthroat prices, turning high-end retail into an online frenzy. Defining moments? Think the 2008 economic crash when bargain-hungry fashionistas flocked to its virtual doors, making it a darling of the recession. Current valuation is rumored to be around $250 million, a far cry from its heyday but still a player. Accomplishments? Transforming retail with a model so enticing it snagged accolades like the Webby Award for Best Retail App. Scandals? Plenty. Like the time they slashed prices so aggressively it sent ripples of panic through the fashion world. Key figures include Susan Lyne, who tried to steer the ship through turbulent waters, and Michelle Peluso, who made her mark before the company’s sale to Hudson’s Bay Company. Gilt’s rise and wane is a tale of high fashion, high stakes, and a relentless pursuit of the ultimate bargain, proving that even in the luxury world, everyone loves a good sale.