Global Glam Reaches a 7 Figure Valuation
Philip then saw a golden opportunity with the popularity of in-person samples sales in New York City, especially with women who are on the hunt for a deal. Not only did Philip aim to reclaim that 13% fee she was being charged on the digital platforms, she also hoped to build relationships and a loyal clientele in New York.
Global Glam, the lifestyle magazine focusing on democratizing luxury and uncovering secrets in travel, fashion and beauty, business and tech, culture, and people, have added to their portfolio. Global Glam just launched House of Global Glam, the commerce arm that offers designer and private label brands up to 60% off the original price. These pieces come from editorial photoshoots and samples that are often straight from the runway.
CEO Christine Philip has given us an inside look at the company’s financials, and walked us through her commerce business that was initially an eBay business selling luxury goods which has ultimately morphed into Global Glam sample sales. "Unfortunately, eBay and Paypal commissions and fees are around 13%, which eats into a big chunk of profits,” said Philip. “But eBay has amazing SEO and attracts a lot of eyes.”
Philip then saw a golden opportunity with the popularity of in-person samples sales in New York City, especially with women who are on the hunt for a deal. Not only did Philip aim to reclaim that 13% fee she was being charged on the digital platforms, she also hoped to build relationships and a loyal clientele in New York.
Within the first five months of the launch of in-person Global Glam sample sales, Philip amassed over 200 RSVPs for each sample sale pop-up which lasted around 3-5 days at unique venues around the city. Clients traveled from as far as New Jersey and Brooklyn.
Revenue soared over six figures within the first five months and have shown consistent month over month growth, helping Global Glam's commerce business reach a market value of $5 million in 2020.
“Of course the pandemic changed all of that,” said Philip. Inspired by the shift to online retail during the pandemic, Global Glam is now bringing the designer sample sale concept online. According to IBISWorld, the online designer clothing sales industry is an $11 billion dollar market. This industry grew to double digits even before the pandemic, and Philip is ready to conquer this market.
Philip trademarked Global Glam in 2009 because she knew that it would become more than just a magazine or an online store. She understood that combining the two unlocks massive synergies. “In a sense, we inform you what to wear, when to wear it and where to wear it,” said Philip.
Global Glam is becoming a global lifestyle brand. Philip looks forward to gaining momentum on her ecommerce business as well as slowly getting back to in-person Global Glam pop-up sample sales. To fund the next stage of Global Glam's expansion strategy, Philip is looking to bring on new investors.