History of Zappos
Zappos, the online shoe retailer, was founded in 1999 by CEO Tony Hsieh. The company is now one of the largest e-commerce businesses in the world with over $5 billion in sales. Zappos has become known for its customer service, and offers a wide variety of shoes and clothing. In 2006, Hsieh announced plans to move Zappos out of the online space and into a brick-and-mortar retail location. The first store opened in downtown Las Vegas in 2007. In 2013, Hsieh announced that he would step down as CEO but remain chairman of the board. In February 2017, Amazon acquired Zappos for $2 billion.
Expansion into Other Retail Categories
In the early 2000s, Zappos was an online shoe retailer that was quickly gaining a following for its customer service and innovative approach to product selection. In 2005, Zappos announced plans to expand into other retail categories, including books, DVDs, and furniture. Over the next several years, the company continued to grow rapidly, expanding its offerings further into apparel, home goods, and even food. By 2011, Zappos had become one of the largest lifestyle brands in the world.
Today, Zappos continues to grow rapidly by offering unique products and exceptional customer service. The company has also begun to invest in technology and innovation to help it stay ahead of the competition. As Zappos continues to grow and evolve, its impact on the retail industry will be difficult to ignore.
Zappos Unique Customer Service Model
Zappos has become a household name for its unique customer service model. The company was founded in 1999 by CEO Nick Swinney and President Tony Hsieh. Zappos' philosophy is simple: treat customers the way they want to be treated.
The company operates on a "no questions asked" policy, which means that customers can order any item and receive free shipping without having to ask for it. In addition, Zappos offers a return policy that allows customers to return any item within 60 days for a full refund, no questions asked.
Recent Acquisitions and Partnerships
In early 2015, Amazon.com (AMZN) made waves when it announced that it was acquiring shoe retailer Zappos for $2 billion in cash and stock. The move made sense for both companies as Zappos had built a loyal customer base and Amazon was looking to expand its presence into new retail markets.
Since the acquisition, Zappos has continued to operate as an independent company, but its future looks a bit more complicated now that Amazon is also the largest online retailer in the world. In September of this year, Zappos announced that it had entered into a partnership with India-based e-commerce company Flipkart. Under the deal, Zappos will provide sales and marketing support to Flipkart’s Indian operations while also developing its own line of footwear products for sale on Flipkart.
The agreement is one of several recent acquisitions and partnerships that suggest that Zappos is still looking to grow even after its acquisition by Amazon. In August of this year, the company acquired shoe design firm Sole Society for an undisclosed sum. Sole Society will help Zappos develop new styles of footwear and expand its reach into other retail markets. And in July, the company announced that it had signed a licensing agreement with luxury fashion brand Louis Vuitton to produce a line of shoes and clothing under the LV name.