According to Greg Bettinelli of UpFront Ventures and former exec of eBay and HauteLook, “eCommerce is the only worldwide business that’s greater than a trillion dollars, growing at a double digit rate. And that trend isn’t going anywhere anytime fast.”
Apparel drives US retail e-commerce, further illustrating the space for more innovation for fashion startups. Check out these numbers.
- $186.2 billion U.S. online commerce market
- $54.2 billion from apparel alone
- ModCloth – $100 million in sales
- Fab.com – $120 million in sales
- Beyond the Rack – $200 million in sales
- Rue La La – $400 million in sales
- Gilt – $600+ million in sales
- Fancy – $100,000/day in sales
Damn, talk about Monday motivation. When are you jumping into fashion tech?
*all sales revenues are from 2012