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.
Famous 5
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 – www.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.
Resources Mentioned:
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
www.fab.com -- another rival of Italist
Activision – An American video game publisher
Credits
Show Notes provided by Mallard Creatives
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