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Concept
Karmaloop
Résumé
Karmaloop is a streetwear e-commerce company. It was founded in 2000 by Greg Selkoe and purchased by Shiekh Shoes in 2016.
Karmaloop was founded in 2000 by Greg Selkoe in his parents' basement in Jamaica Plain, a neighborhood of Boston, Massachusetts. Selkoe's interests in break dancing, graffiti art, and fashion influenced his decision to focus his business on urban style and streetwear. His initial concept for Karmaloop was to provide universal reach for hard-to-find boutique streetwear brands.
The Karmaloop brick and mortar store on Boston's Newbury Street launched in 2005. The store carried products available on the website as well as limited edition items, and was often used as a testing ground for new products. In a 2010 interview, Selkoe revealed that the store "never made a penny," and in 2011 it closed. In the meantime Karmaloop's online presence grew to a number of websites including online retailer Karmaloop, women's fashion site MissKL, flash-sale site PLNDR, online skateboard shop Brick Harbor, independent marketplace Kazbah, subscription service Monark Box which mailed exclusive gear to members in exchange for a monthly fee and internet television station KarmaloopTV launched in collaboration with music producer Pharrell Williams and former AMC president Katie McEnroe.
In 2011, the company grew by 81%, generating 80 million and the company was over 19 million of which it owed to vendors. Comvest Capital and CapX Partners purchased the company in May 2015 and announced plans to restructure its management, with Seth Haber named CEO, moving Selkoe to an advisory role.
Source officielle
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