I got the opportunity to catch up with KarmaLoop founder and CEO, Greg Selkoe! KarmaLoop is one of the biggest online retailers of street-wear and brings in about $200 million in annual revenue. We talked the keys of having a successful online business, how to get your brand on KarmaLoop, his definition of style & more.
Check out this exclusive interview here!
Q: Hi How are you?
A: Hi, I’m good how are you doing? busy crazy time of the year.
Q: What age were you when you first had the vision that you wanted to create a online business?
A: I was 25 when I came up with the idea.
Q: Where exactly were you when KarmaLoop was created?
A:The first office of KarmaLoop was my parent’s basement, I was living at home that’s where the whole thing was, down there.
Q: KarmaLoop has been around for about 13 years throughout that time i’m sure you have seen different brands emerge and what not. Do you feel certain street-wear brands lack originality, the fact that some of them try to mimic other brands with their clothing?
A: Yeah I mean that happens alot with any brand any fashion genre whether it’s street-wear any other brand any other type of clothing theirs certain brand’s that are the leaders then the other people follow them.
Q: What are a few of your favorite brands?
A: Well, I don’t generally say that because, like I get that asked alot but whenever I say anything in a interview the other brands complain so I generally just don’t know.
Q: What is your definition of style?
A: I mean style is just a way someone carries themselves it’s being able to move through life effortlessly. I think you know a person’s personal style reflects their personality and their interest and often times you know if someone’s quiet their style reflects that if someone’s loud their style reflects that too. So it’s generally a manifestation of people’s personal you know way that they operate in the world.
Q: In the fashion world do you have any fashion influences?
A: I mean I think definitely when people ask me who are my fashion influences of all-time I think JFK, Marc Jacobs, Tom Ford, I think of Pharrell alot of different people in Japan I run into. Q: What do you do in Japan? A: I go over there for different business reasons sometimes I go their for inspiration sometimes I’m down there to meet with like Nigo from Bathing Ape. Q: Would you say he’s another fashion influence of yours? A: Definitely
Q: Your Top 3 favorite kicks?
A: My favorite kicks I would say the Reebok Pumps my all-time go to kicks I say Adidas Shell Toe, Reebok Pumps I mean the new business as usual Reeboks that just dropped frank the butcher put out who works for me so that’s like kinda the hot shoe that I’m talking about right now the Reebok DMX.
Q: You and Pharrell are pretty close what do the two of you learn from each other through a business stand point?
A: I think that well we both have alot of similar ideas were both creative obiviously he’s more musically inclined I’m more on the business side of things but I mean I think we work well together cause we have alot of the same ideas.
Q: KarmaLoop has been around for a long time did you expect to have this much success, most online businesses do not stay around very long? I was about 7 when KarmaLoop was created.
A: Yeah I mean i always wanted it to be a big success so I mean everything I do I expect to give it my all so yeah I wasn’t suprised I expected it to get big and it did.
Q: What are the keys to having a successful online business?
A: I mean I would say that the keys would be have a good product that the people want, have something do something different than what is available out there I think in general in business you have to be relentless and never give up.
Q: What would you say to someone who wants their brand on KarmaLoop?
A: I would say they should submit it to the Kazbah which is the market place section of the site and I would also say they should come at us with something fresh and new and innovative if they want to be on the site.
Q: Your last words?
A: Don’t change, Look good and have fun.
This wraps up my interview with KarmaLoop Founder/CEO Greg Selkoe! Thanks so much for your time!
Interviewed by Ajrashed