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Thank you Daniel Gulati for the introduction to our guest today, Jeremy Cai, founder and CEO of Italic. Italic is the destination for the best luxury goods without the brand names. In this episode we touch on his unique C2M business model in luxury, the evolution of ecommerce, learnings from Costco and Amazon and his approach to scale. Without further ado, here's Jeremy.
Questions I ask Jeremy:
- What was the insight that led you to found Italic and how did you approach the business model?
- What were some of the first steps you took whether that's market research or speaking with manufacturers that helped made you release this could be an opportunity?
- Now Italic changes the manufacturers business model?
- Since your dealing with manufacturers directly, what is there business model. I'd image it's heavy inventory
- When it comes to ecommerce, how do you think about differentiation and your focal point in building a marketplace + subscription business?
- Who do you believe is your target customers?
- Walk us through a little bit of the world of contract manufacturing and your model?Do contract manufacturers typically have exclusive partnerships with the major brands?How do you ensure quality?What's your current take rate?What's the delivery process?What is C2M? Has it been the missed opportunity in ecommerce?How do you see the model evolving?
- What were some of the effects of COVID?
- As retail opens back up, how do you think about
- What's the vision? What are we going to see from Italic in the next 5-10 years?
- What was your approach to fundraising?
- What's one thing you would change about venture capital?
- What's one book that inspired you personally and one book that inspired you professionally?
- What's the best piece of advice that you've received?
- What's one piece of advice to founders?