Digital Edition
This issue shares the experiences of seven alumni who are breaking through in retail, an industry full of challenges and opportunities! Marc Lore took a leave of absence from Wharton to found Diapers.com and later Jet.com. Today, he runs one of the nation’s fastest growing online retail businesses at Walmart’s eCommerce division. Marc brought in a Chief Customer Officer to address customer concerns irrespective of whether the purchase was made online or in a store. Reham Fagiri, WG’12, is Co-Founder of AptDeco, a peer-to-peer marketplace for buying and selling second-hand furniture. Rather than warehousing inventory, she drove efficiency by having her company pick-up furniture from sellers and deliver it to buyers on the same day. She also realized she could provide more consistent service to customers by owning her own fleet of vans driven by company employees.
Geralyn Breig, W’84, Founder and CEO of AnytownUSA, headed marketing in firms such as Pepperidge Farms, and then managed divisions at iconic retailers Avon, Godiva and Clarks. Based on trends she perceives in the market and wanting to support the maker movement, she focuses on products Made in America. Geralyn is also a new contributing writer to this magazine! Jeff Raider, WG’10, one of Warby Parker’s co-founders, went on to also create Harry’s, the shaving company, by audaciously convincing investors to purchase a $100 million razor factory, a continent away. As we go to press, Harry’s is being purchased by the owner of Schick razors for $1.37 billion!
Although retail appears out of favor, consumers still drive 70% of the economy. The Retailing Center at Wharton – founded by Jay Baker, W’56, who we covered in the Spring 2014 issue, continues to drive innovation in this sector. And investors, such as Rob Fioretti, W’91, WG’99, Managing Director at Palladin Consumer Retail Partners, have done extremely well investing in select retailers. Rob also supports a school-related social impact initiative, Locust Walk Impact Partners. Rob explains in this issue how he approaches retailer investing today. Andres Modak, WG’12, and Rachel Cohen, WG’12, are Co-Founders of Snowe, a fun site showcasing home furnishings. They are passionate about understanding and serving their customers and other stakeholders, and even created a magazine — Snowehome!
Three authors are also covered in this issue. Be sure to read Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage. Well-researched and written by two of Wharton’s star professors, Christian Terwiesch and Nicolaj Siggelkow, it contains fascinating strategies to reach customers at a different level. Speaking of stars, Professor Jeremy Siegel, HON’80, spoke at the Grand Hyatt near Grand Central, hosted by the Wharton School’s More Than Ever tour. Many WCNY members attended the event to hear Siegel’s insights from the latest edition of his book, Stocks for the Long Run. WCNY’s author speaker series showcased Erez Cohen, WG’11, who wrote Real Estate Titans: 7 Key Lessons From the World’s Top Real Estate Investors. His book focuses on the traits of those who began with less resources and yet succeeded. That is certainly a New York story!
Regina Jaslow, W’97
President | Wharton Club of New York
Chief Revenue Officer, Amplicare