Question

what is the economic environment of Shoedazzle business company ?

Answer 1

ShoeDazzle is an American online fashion subscription service based in El Segundo, California. Each month the company debuts a selection of shoes, handbags, jewelry and provides its members with a showroom curated to their indicated fashion preferences.The ShoeDazzle concept came from an exchange between co-founder Lee and his wife. Lee had asked his wife why she bought shoes from expensive Beverly Hills showrooms. She replied, "When women shop, they want to feel beautiful and pampered.The company's objective is to translate that environment online.

Every month, clients receive a curated selection of fashion items in their personalized ‘Showroom.The goal, according to Fast Company, is to deliver “a collection of items users feel has been handpicked just for them..

FUNDING AND GROWTH

In November 2009, ShoeDazzle secured its first round of $7 million funding from Polaris Ventures, a venture capital firm specializing in early-stage investments.In April 2010, Lightspeed Venture Partners led a $13 million round of financing. In May 2011, ShoeDazzle secured $40 million in funding led by Silicon Valley venture capital firm Andreessen Horowitz.In September 2011, Bill Strauss, the former CEO of Provide Commerce (which operates sites such as ProFlowers), became ShoeDazzle's CEO.Co-founder Lee became chairman. In March 2012, ShoeDazzle dropped its $39.95 monthly subscription model and expanded into apparel, handbags, weddings and lingerie.In July 2012, ShoeDazzle signed up a record one million new members. From 2011-2012, ShoeDazzle grew from 3 million to 10 million members.In August 2013, ShoeDazzle was acquired by rival online fashion subscription service JustFab.^[7] The two companies will continue to run independently as separate brands

The economic environment refers to all the economic factors that affect commercial and consumer behavior. The economic environment consists of all the external factors in the immediate marketplace and the broader economy. These factors can influence a business, i.e., how it operates and how successful it might become.