If you haven’t hear of What Goes Around Comes Around you really should take a look here. When I was in Orange County this past summer, I landed in a Off 5th Saks and was a bit puzzled when I came across Hermès in a glass case. Not that it was in a glass case (where it should be) but why was Hermès at the discount store for Saks 5th Avenue.
After talking to a few employees, one gave up the info. The bags were part of a business deal to do a pop up in their store by What Comes Around Goes Around. Interesting idea as I’ve seen other companies partner with larger retail chains to offer their goods in store.
After a year of consulting for What Goes Around Comes Around, Frank Bober has taken a stake in the company and has signed on as vice chairman.
Targeting more than $50 million in revenue this year, the luxury and vintage accessories resale retailer recently opened a Miami boutique, started buying items including clothing from clients and quietly relaunched its site with an official unveiling of the $1 million redesign set for next month.
Bober has spent his career in the fashion industry, most recently as the founder and chief executive officer of Stylesight, which WGSN paid “in the $100 million area” for in 2013, he said. Early on he had his own men’s wear label before taking executive roles at Arthur Richards and Polo Ralph Lauren. He started CMT Enterprises in 1979 to develop private label men’s wear and women’s wear for top retailers and sold it in 2000. He now is an investor and board member for Fuser, a start-up that offers an ecosystem of a smart helmet, camera, headset, handlebar remote and app for adventure types.
What Goes Around last year was looking to raise $30 million in an investment round and those who saw the prospectus from the company said its 2016 revenues.
Holding pop-ups is not a new idea but when you mix one of the biggest resale companies with one of the biggest department stores, that’s not only a great idea, it brings brands to areas that may not normally see them.