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That pressure to log on to the Web at noon separates Gilt from other online shopping sites, like BlueFly and ShopBop. “People are trained to make purchasing decisions within minutes, which I think leads to some of the excitement,” Wilson says. “Sometimes it can be a little nerve-wracking,” she adds.“It’s very hard,” says Jonathan R. Meminger ’12, a sophomore who shops with Gilt. “If you’re an hour late...
Gilt Groupe’s appeal, in the Harvard community and beyond, seems inextricably linked to the Web site’s 36-hour shopping window. It was this, the idea of a time crunch, that allowed Wilson and Maybank to assess a growing industry, and carve out a niche in a popular market. That model has been expanded to other Gilt Groupe projects, like Gilt Fuse, the Web site’s younger, hipper sister. But enough economics, it’s time for a history lesson...
Maybank, an Enviromental Science and Public Policy concentrator, and Wilson, a Romance Languages and Literatures concentrator, met in a Portuguese class (“Of all things,” Maybank says). Though Maybank was a senior and Wilson was a sophomore, both lived in Lowell. “I loved my time at Harvard,” Maybank says. “I had a great social experience here, a great social life, and then did a little bit of homework too along the way.” That bit of homework led Maybank to a finance...
...women will sneak out of their office during the day just to attend one.” Maybank smiled. “It creates this kind of hysteria.” The sample sale—and its hysteria—inspired Maybank and Wilson to start Gilt Groupe...
...take it online to a national audience, but have that same sense of event-based shopping, urgency, people dropping everything to be there.” All they needed was a name.“We chose the name Gilt because it had some double meaning,” Wilson says. “So obviously you feel guilty when you shop, but Gilt also implies being covered in gold and sort of luxurious items like that...