Beyond the Rack is a Montreal-based
online shopping
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the r ...
company that operates a website that offers clothing, accessories, fragrances, electronics, home goods, beauty and home decor products. The company was founded in 2009. In 2014 it had ten million members, comprising the largest free Canadian private shopping club.
["Beyond the Rack racks up another big round of financing". ''Internet Retailer'', 10 November 2011. Retrieved 29 November 2011.]
History
Beyond the Rack was launched in 2009 by Yona Shtern and Robert Gold. Shtern was the former chief marketing officer at Ice.com, My Virtual Model and Microcell Telecommunications. Gold was the former president of Gosh Marketing and Donald Berman Enterprises. In 2011, ''Internet Retailer'' magazine called ''Beyond the Rack'' the fastest growing online retailer in the USA.
The company is privately held with its offices in New York City and Montreal.
["Beyond the Rack's Shtern delivers inspirational tale"](_blank)
''Winnipeg Free Press'' The site current serves 15 million members internationally and works with various major partner companies.
Overview
Beyond the Rack visitors must be members in order to view the company's merchandise. Products are grouped into sale "events" from a single brand or small groups of brands. An email is sent to all members prior to each event's start. Once launched, each of the events lasts 48 hours.
In 2011 the company started retailing designer wedding dresses, and in the same year the Montreal Gazette named the company one of the fastest-growing companies in Quebec. In 2013, the company had achieved sales in excess of $150 million. Its investors include
Panorama Capital
CCMP Capital is an American private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, the investment professionals of JP Morgan Partners separated from JPMorgan Chase o ...
,
Highland Capital Partners
Highland Capital Partners is a global venture capital firm with offices in Boston, Silicon Valley, and San Francisco. Highland has raised over $4 billion in committed capital and invested in more than 280 companies, with 47 IPOs and 134 Acquisi ...
, BDC Venture Capital,
Export Development Canada
Export Development Canada (EDC; french: Exportation et développement Canada) is Canada's export credit agency and a state-owned enterprise wholly owned by the Government of Canada. Its mandate is to support and develop trade between Canada and ot ...
, Tandem Expansion Fund, Rho Canada and Inovia Capital.
In 2014, Beyond the Rack received $10 million funding with the
Silicon Valley
Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo County ...
Bank.
Beyond the Rack
Beyond the Rack serves over ten million members in North America and offers merchandise from over 3,000 brands. The website organizes 15 new sales each day.
BTR Home
Launched in October 2011 as a subsidiary of Beyond the Rack, BTR Home offers bed and bath, furniture, decor, kitchenware, wall art and home organizer brands, including U.S Polo Linens, Kosta Boda Crystal, KitchenAid and Cuisinart appliances and Denby dinnerware.
["Beyond The Rack Launches BTR Home". ''Canada Newswire'', 7 October 2011. Retrieved 29 November 2011.]
"Transcript: How Beyond the Rack fashions its strategy"
''The Globe and Mail''
"How Beyond the Rack Used Social Media as a Customer Service Tool"
, ''MarketingWise''
"Beyond the Rack conclut une émission de 25 millions"
''Le Devoir'', 27 November 2013
- Bogart, Nicole
"Black Friday deals put Canadians in shopping mood, many go online"
''Global News''. 28 November 2013.
References
{{Reflist
External links
Beyond the Rack websiteBeyond the Rack blog
Online retailers of Canada
Retail companies established in 2009
Internet properties established in 2009