In Episode # 227, Nathan speaks with Diego Abba, president of Italist, an eCommerce site that sells luxury Italian items. Listen as Diego shares his experience working with consumer giants like Proctor & Gamble and Activision, as well as his inspiration to abandon the security of the corporate world to venture out into the uncertain plain of entrepreneurship.
- Favorite Book? – The Ultimate Question
- What CEO do you follow?— N/A
- What is your favorite online tool?—Skype
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?— Stay more zen
Time Stamped Show Notes:
- 01:00 – Nathan’s introduction
- 01:57 – Nathan welcomes Diego
- 02:10 – Diego’s experiences in Bain, Proctor & Gamble, Activision and Global Bank
- 03:45 – Speaking on Activision
- 05:00 – Italist
- 05:50 – 2015’s transaction volume $10M
- 06:39 – How Italist makes money
- 07:00 – The idea of Italist revolves around creating the look and feel of an Italian Luxury Store within the confines of the digital space
- 07:36 – Percentage income is 20-30% of retail value
- 09:23 – Farfetch
- 11:20 – There are 2 seasons in luxury goods –spring/summer and winter
- 13:03 – Gross margin of $250,000
- 14:17 – Affiliates
- 17:23 – Who would you love to sell to one day? –Ebay or Amazon
- 21:12 – fab.com comparison
- 21:34 – The key is to stay focused, do the best you can, and keep the rest simple
- 22:40 – Diego’s LinkedIn
3 Key Points:
- You company website has to have a look and feel that is reflective of your product or service.
- If you’re going to get into the consumer luxury goods market, be ready for a dogfight.
- The key to success has three teeth—focus, effort, and simplicity.
- Host Gator – Powerful web hosting made easy and affordable.
- Italist – company founded by Diego that sells Italian luxury items across 85 countries
- Farfetch – a competitor of Italist
- fab.com — another rival of Italist
- Activision – An American video game publisher
- Mallard Creatives – Provider of Show Notes
“Momentum is King! (Click hereto grab the exclusive shirt – 10 available)
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