Digital Startups Mark 10 Years in Business
National Retail Federation | February 24, 2021
2021 marks the 10th anniversary of brands such as Dollar Shave Club, Stitch Fix, HelloFresh, Chewy, Poshmark, The RealReal, The Honest Company and BHLDN.
Ten years ago, “It was the beginning of the digital world,” says Marshal Cohen, chief industry advisor, retail, of The NPD Group. E-commerce in the fourth quarter of 2011 accounted for just 4.5 percent of total sales.
Each business celebrating 10 years has made it by shifting and adjusting to the marketplace while holding true to its original purpose.
Dollar Shave Club is celebrating its anniversary with a shift to omnichannel, as well as a new CEO, logo, color palette and acronym: DSC. Walmart began carrying DSC’s razors and shave aid products in 2020, with more than 10 retailers such as Target, Walgreens and Rite Aid to follow. DSC has always been — and will continue to be — a brand that makes it OK for men to talk about grooming.
HelloFresh is serving about 5 million customers in 14 countries. In late 2020 the company said it aimed to grow annual sales nearly three times above its targeted 2020 revenue by offering more products and expanding to new geographies. HelloFresh will also continue expansion to one or two markets each year until 2025.
Poshmark, founded by Manish Chandra, has grown to 70 million registered users. Since day one, “we’ve been focused on building a marketplace that’s social, in order to make shopping fun and human again, sustainable and data-driven, to make it simple and easy for anyone to discover, shop, buy and sell.”