Menlook’s sales soaring
Amidst the gloomy economy in France, there are still companies that outperform and want to let everyone know about it. This is the case of e-retailer Menlook for men’s fashion, launched in 2010 by Marc Ménasé.
The CEO said that last year the site pulled in over 16 million visits, with 104% growth in web traffic. He also touted a 114% increase in sales compared to 2012. FashionMag estimates Menlook sales to be over 25 million euros for last year.
Several elements contributed to the growth, especially the acquisition of the upscale British e-commerce website Oki-Ni. Other factors are an increase in the average spend to 160 euros, a 17% increase compared to 2012 and a rise in international business.
Menlook is available in five languages on eight regional websites. The French company has a French site of course, but also an English version for the U.S., Singapore (where it just opened a marketing office) and the U.K. (Menlook's second strongest country in terms of sales). The company also has four other markets with websites in the local languages: Germany (number three in sales) Italy, Spain and Holland.
Looking at results for February 2014, the e-retailer delivered merchandise to 125 countries from two warehouse, one in the south of London and the other outside of Lyon, France.
As for Oki-Ni, the upmarket website accounts for 20% of all comapny sales, with the U.K. leading the pack, followed by the U.S., Australia and Japan.
Both sites currently offer between 5000 and 6000 SKUs from 400 brands, a number that meanwhile no long increases. On the other hand, the e-retailer is working much more in depth with its existing brands. It has also developed a concession business model that should become very important in the next two years, as opposed to fixed purchases, the only model initially used at the company’s start.
Menlook has also welcomed new brands such as Armani Collezioni, Armani Jeans, Levi's, Gant, Harris Wilson, Veja. Oki-Ni has brought on names such as AMI and Alexander Wang.
The website did drop Rag & Bone, Faconnable, Dunhill, and others, "but because these brands do not work on Menlook doesn't mean they will not work elsewhere," said Marc Ménasé.
The Menlook group is planning to open another market by the end of the year. "The idea is to offer products other than clothing, associated items, more sports products, etc. To establish this new market, we will bring in other retailers and manufacturers or the brands themselves," said the CEO.
Another important development the company plans to release during the current quarter is Menlook's new app for iPhone and iPad. These platforms will be set up to offer exclusive app deals. "You have to be realistic. Today's consumer does not rush to his smartphone to buy a product on the internet, like a Lacoste polo shirt," said Marc Ménasé. "He mostly uses it to get his order ready, which he then places from a computer. However, he may be tempted by a specific offer for a limited time.”
To that end, Menlook will launch Menlook Today for tablet and smartphone, an online pop-up sale for "one day, one product, one special price." Every day a product is selected from the Menlook range and offered at a great price for a period of 24 hours only, at discounts between 20 and 40%. "These will be either iconic products or basic ones," said Marc Ménasé.
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