Money Matters

30 Under 30 2018 Retail And E-Commerce: These Young Entrepreneurs Are Changing The Way We Shop

(Source: www.forbes.com)

With reporting by Vicky Valet and Katherine Love

You can only stop to smell the roses if they’re still alive. And a garden-variety bouquet doesn’t last longer than one week in a vase.

The roses from the green-thumbed Seema Bansal on the other hand, last a full year in full bloom without water.

“We treat them with our proprietary wax-based solution,” explained Bansal, 26, who bootstrapped New York-based e-commerce business Venus ET Fleur with her now-fiancé Sunny Chadha, 28, in 2015. “But the rose’s texture, its shape and a little bit of its scent remains.”

In 2017, Venus ET Fleur expects to do in the region of $7.5 million in revenues thanks to sales of their long-lasting rose arrangements, which typically sell for between $300 and $1,500 and come in any Pantone color, including silver, green and lavender. By the end of the year, they’ll open a second distribution center in Los Angeles.

Bansal and Chadha lead this year’s crop of impressive young founders on Forbes’ 30 Under 30 list for 2018 in the retail and e-commerce category.

These entrepreneurs and executives have raised millions of dollars in venture funding between them. They’ve built game-changing e-commerce platforms, apps, and bots. They’ve launched exciting new products across categories as varied as vibrators, kitchenware and nail art.

They’re pioneers of the subscription economy. They’re figuring out what a transparent supply chain looks like in the age of mobile shopping. And they range in age from just 14 to 29.

(Photo by Jamel Toppins for Forbes)

There’s Ali Kriegsman, cofounder of Y Combinator-backed startup Bulletin. She and cofounder Alana Branston take vacant, marked-down real estate and offer online retailers a physical space to rent — like coworking spaces, but for bringing small vendors together in one storefront.

The company charges $300 to $2,000 a month and takes 30% of sales. Kriegsman and Branston have raised $2.2M in VC funding to date.

Another standout? Iyore Olaye, a young star at Walker & Co., the venture-backed tech company creating beauty products for people of color. As lead product engineer, she heads up research and development for men’s grooming brand Bevel and haircare line FORM.

Some of these Under 30s are revolutionizing e-commerce in categories often forgotten by mainstream retail.

Brad McDonald, for example, cofounded Chicago-based Agroy. The company allows farmers to buy fertilizer, seed and more online, updating what was an age-old co-op buying model in the agriculture sector. In 2016, its first year, Agroy did over $2 million in sales. 

Meet all this year’s retail and e-commerce list-makers here, and learn more about the wunderkinds changing the world across all Forbes’ categories here.

What do you think of the list? Join the conversation on Twitter with #30under30

More Info: www.forbes.com

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