Diego Abba, president of Italist, an eCommerce site that sells luxury Italian items. Listen as Diego shares his experience working with consumer giants like Proctor & Gamble and Activision, as well as his inspiration to abandon the security of the corporate world to venture out into the uncertain plain of entrepreneurship.
Famous 5
Favorite Book? – The Ultimate Question
What CEO do you follow?— N/A
What is your favorite online tool?—Skype
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be?— Stay more zen
Time Stamped Show Notes:
01:00 – Nathan’s introduction
01:57 – Nathan welcomes Diego
02:10 – Diego’s experiences in Bain, Proctor & Gamble, Activision and Global Bank
03:45 – Speaking on Activision
05:00 – Italist
05:50 – 2015’s transaction volume $10M
06:39 – How Italist makes money
07:00 – The idea of Italist revolves around creating the look and feel of an Italian Luxury Store within the confines of the digital space
07:36 – Percentage income is 20-30% of retail value
09:23 – Farfetch
11:20 – There are 2 seasons in luxury goods –spring/summer and winter
13:03 – Gross margin of $250,000
14:17 – Affiliates
17:23 – Who would you love to sell to one day? –Ebay or Amazon
21:12 – www.fab.com comparison
21:34 – The key is to stay focused, do the best you can, and keep the rest simple
22:40 – Diego’s LinkedIn
3 Key Points:
You company website has to have a look and feel that is reflective of your product or service.
If you’re going to get into the consumer luxury goods market, be ready for a dogfight.
The key to success has three teeth—focus, effort, and simplicity.
Resources Mentioned:
Host Gator - Powerful web hosting made easy and affordable.
Italist – company founded by Diego that sells Italian luxury items across 85 countries
Farfetch – a competitor of Italist
www.fab.com -- another rival of Italist
Activision – An American video game publisher
Credits
Show Notes provided by Mallard Creatives
The Top is FOR YOU if you are:
A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4)
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The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).
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Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at http://NathanLatka.com/TheTop
