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Full-Time

Product Development

Apparel

Posted on 6/18/2024

OpenStore

OpenStore

51-200 employees

Acquires and manages online businesses for resale

Consulting
Consumer Goods

Entry

Miami, FL, USA

Category
Product & UX/UI Design
UI/UX & Design
Required Skills
Communications
Requirements
  • Experience in sourcing/buying/merchandising ideally for Apparel
  • Market Research and Trend Analysis
  • Excellent communication skills
  • Creative thinker with problem-solving skills
  • Experience at a high-growth apparel DTC brand is a plus
Responsibilities
  • Own end-to-end analysis, research, conceptualization, and planning of new product development based on brand guidelines
  • Stay updated on current fashion trends, consumer preferences, and market demands to guide design choices and provide informed customer recommendations
  • Budget time, manage several projects simultaneously, and meet deadlines
  • Maintain adherence to internal and customer calendar dates, ensuring timely delivery of product presentations and meeting customer needs
  • Collaborate closely with cross-functional teams to ensure seamless execution of private label and SMU design initiatives
  • Provide the leadership team with data-driven insights and solutions to assess the impact of NPD

OpenStore operates in the e-commerce sector by acquiring online businesses, managing them for a year, and selling curated products from exclusive brands. The company guarantees original owners a set monthly income during the management period, providing financial security as they transition out of their business. OpenStore's revenue comes from selling these curated products and from reselling the acquired businesses. Unlike many competitors, OpenStore offers a hassle-free acquisition process, often completing purchases in as little as two weeks. The goal of OpenStore is to support online business owners through a smooth transition while also expanding its portfolio of exclusive products.

Company Stage

Series B

Total Funding

$152M

Headquarters

Miami, Florida

Founded

2021

Growth & Insights
Headcount

6 month growth

-9%

1 year growth

-6%

2 year growth

7%
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Simplify's Take

What believers are saying

  • OpenStore's rapid growth and significant funding, including over $150 million in venture capital, indicate strong financial health and expansion potential.
  • The company's innovative approach to e-commerce, including successful initiatives like increasing Jack Archer's revenue from $1M to $10M, showcases its ability to scale businesses effectively.
  • OpenStore's commitment to employee well-being and creative collaboration, as evidenced by its expanded Miami office with wellness rooms and themed conference spaces, enhances its attractiveness as an employer.

What critics are saying

  • The reliance on acquiring and managing a diverse portfolio of online businesses could lead to operational complexities and integration challenges.
  • Guaranteeing a set monthly income to original business owners regardless of performance may strain financial resources if acquired businesses underperform.

What makes OpenStore unique

  • OpenStore's unique model of acquiring, managing, and reselling online businesses within a year, while guaranteeing a set monthly income to original owners, sets it apart from traditional e-commerce platforms.
  • The company's focus on curated products from exclusive brands and a hassle-free acquisition process finalized in as little as two weeks provides a distinct competitive edge.
  • OpenStore's strong backing from prominent investors like Lux Capital, Atomic, Founders Fund, and Khosla Ventures, along with its Miami-based operations, further differentiates it in the market.
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