Nasty Gal -(Nastygal.com)- Files Bankruptcy, Founder Sophia Amoruso's Fortune Gone
Posted by Inance Publicist on 12/6/2016 to
How on earth did this happen? Cult online fashion retailer Nasty Gal filed for Chapter 11 bankruptcy protection. Just a few years ago they raised $65 million between 2012 and early 2015. That is close to impossible to go though all of that money unless there is careless spending. Now, they are looking for a buyer to come in and save the day.
Nasty Gal's bankruptcy means Amoruso will tumble off Forbes' list of Richest Self-Made Women, where she was one of the youngest members. She made her debut this year with an estimated net worth of $280 million, based entirely on the assumed value of her majority stake in Nasty Gal, which according to multiple sources had nearly $300 million in sales. In 2016, Nasty Gal secured the top spot on e-commerce bible Internet Retailer's Top 500 guide thanks to its reported 92.4% compound annual growth. So how on earth did this happen?
It is now clear the startup was unable to maintain the momentum required by such investment. Index Ventures, which pumped $49 million into the edgy e-tailer, will be feeling the brunt of this bankruptcy. Partner Danny Rimer is expected to resign from Nasty Gal's board, as is Amoruso, the executive chairperson.
Could Forever 21 and H&M be next? Bebe is reporting major losses as well. Why do these companies over spend and set themselves up for failure is my question? Inance is 100% self funded with no debt. Thats the best way to do business. We strive for 100% satisfaction in customer service and all of our Inance women's clothing pieces are made in the USA!
Celebrity Brand Inance Opens New Women's Clothing Store Located at Town Center Mall in Boca Raton on Black Friday
Inance Women's Clothing Boutique In Store Preview
Inance Billboards Are Going Up All Over South Florida
Super National Press Magazine Editorial
Inance Grand Opening Party Date Change is Now Friday, November 4, 2016
Want to meet a Bravo Housewife? Date has changed to Friday Nov 4
Inance Handmade Bikini Video
Date Has Changed to Nov 4th- Teresa Guidice Hosts Grand Opening of Inance Women's Clothing Boutique
Celebrities Love & Tweet about Inance Skincare
Theresa Guidice star of the "Real Housewives of New Jersey" says, "My Skin Looks Flawless, im excited about Inance!"
Kym Johnson, Star of the hit show Dancing With The Stars and fiance to Shark Tanks Robert Herjavec says," I love the way my skin looks thanks to Inance!"
Celebrities Love Inance and So Will You! 30 day money back guarantee! Try it today!
How to Avoid a New Dress Nightmare
If you’re as much of a shopaholic as we are, you know that nothing beats the thrill of clicking “Add to Cart.” You’ve seen the dress of your fashion fantasies on a great-looking women's clothing site, you've sailed through the online checkout system and now you’re basking in the knowledge that soon that new swag will be all yours. It’s a special kind of shopping high when you think you’ve nabbed a bargain. You wait excitedly for your goodies to arrive, daydreaming about how fabulous you’ll look and checking the mail every five minutes in case your parcel’s somehow come early. But what happens when what arrives isn’t what you paid for?
A Whole New Brand of Buyer’s Remorse
It’s happened to all of us. A stunning picture with a bargain bin price tag is so seductive. Just look at that style…and at that price. But when we open the package, what we imagined would be a high-end dress turns out to be an undersized, off-color waste of fabric. And time. And money! That horrible disappointment is why so many fashionistas like you only shop at sites like Inance that are as trustworthy as they are stylish. We are an American company and all our products are made in the U.S.A., so you know you’re in safe hands with us.
When It Seems Too Good to Be True, It Often Is
So many of us fashion lovers have been duped by false advertising. Increasingly, customers order based on high-quality photos, only to be left with flimsy, threadbare garments that look nothing like the ones advertised.
These clothing companies steal pictures from the internet and Instagram. They grab photos of celebs, bloggers and models wearing designer gear, sometimes cropping out the models’ faces and removing watermarks. Knock-off prices can be as low as $10 for what appears to be a $350 dress. It’s no wonder shoppers get sucked in.
But ladies, beware. Sites that have been named and shamed include: RoseGal, RoseWe, SammyDress, DressLily, Zaful, TrendsGal, TwinkleDeals, TideBuy, RomWe and Choies. Further investigation reveals that many of these sites appear to be separate companies, but they are actually linked. Sapna Maheshwari, a BuzzFeed journalist, reported, “At least eight of [these sites] are connected to one Chinese e-commerce company that made more than $200 million in sales in 2014.”
Sketchy Retailers Are Getting Rich by Conning Bargain Hunters
These sneaky women's clothing sites target new customers with Facebook ads. You've probably seen one in your newsfeed: a beautiful dress with an unbelievably low price from a website you've never heard of. Sound familiar? A huge audience and loose policing make Facebook ads a highly effective marketing strategy. Retailers can easily delete negative comments so they don't put off potential buyers. But don't be reeled in, or your online shopping spree could quickly turn sour.
The Federal Trade Commission has received thousands of complaints about this worrying trend, as have consumer review sites like TrustPilot and the Better Business Bureau. Shoppers can view customer complaints about online retailers when they paste the site’s address in the search bars at these consumer review sites.
Some customers have been so disgusted with their purchases that they’ve created Facebook forums to share their experiences and campaign against these sites. The group “Knock Off Nightmares” has over 34,500 members. Disappointed shoppers swap horror stories and post pictures of the badly made dresses they received next to the flawless sales photos that lured them in. They also post warnings around Facebook to discourage other women from making the same mistakes they did.
How to Avoid Your Own Fashion Nightmare
It’s always worth doing your research before buying. Look for the brand’s customer reviews and, if you’re suspicious, try searching the company name with the word “scam” to see what comes up. Search for business complaints using TrustPilot and the Better Business Bureau. Do your homework before spending money from your hard work.
It’s easy to be tempted by the false promise of a designer quality item with a thrift-store price tag. But as savvy shoppers, we all need to be careful. Instead, buy from brands like Inance that you know you can trust.
You don’t have to worry about fake fashion, poor quality, or sketchy deals when you shop with us. We’re proud to be an American company and all our products are made right here in the U.S.A. Yes, we offer amazing deals on women's clothing, but we also offer amazing quality and style. There's no risk of receiving duds when buy from Inance. So be smart. Avoid bogus sellers and shop from a site you can trust.
If you're looking for your next fashion fix, you can check out our gorgeous selection of dresses here.
Celebrities Love Inance Lingerie