— The founder of a local start-up hopes to cash in on the growing trend of online-only retail stores, by partnering with a local business.
Michael Korman has built a reputation for his passion for building high-end brands and he’s already looking to expand his reach into the online-oriented retail space.
“We think the opportunity is just to really be able to create a high-quality retail store that really appeals to the consumers,” he said.
With just a few months to go before he opens his first online shop in the Boston area, Korman is betting that his vision will resonate with local businesses and local residents who aren’t accustomed to the convenience of online shopping.
His plan is to use the store as a platform for an online platform that allows users to customize their experience, from buying clothes and shoes to finding local restaurants and even renting out furniture to make their own home.
It’s a gamble that will have to pay off with the company’s first brick-and-mortar shop in Massachusetts, which will open Jan. 27.
Korman said his idea will be similar to what he’s doing in New York City, which is to set up a physical storefront, but with the added benefit of giving consumers a platform to shop and browse the goods on their own terms.
For instance, he said, customers can select a product and browse through hundreds of thousands of options.
Komal said he plans to start by creating a small shop that will serve a few items.
Then he said he’ll expand to the rest of his inventory, expanding to larger items, like the latest fashion or beauty items.
The idea is to create an experience that is not only a fun experience, but also a great value for the customer, he added.
That’s a big change from what Korman did when he launched his clothing business in 2014, when he sold about 500 items at a time.
That number has grown to about 2 million items in 2016, according to Korman.
In Boston, Kahan will open his first store at 1630 Massachusetts Ave., a small storefront with a sign on the front reading, “Brick-and.-mortar store,” and a small sign outside the door.
It will have a small staff of about six, including a few on-site designers, he announced.
Kahan said he was inspired to open his online shop after hearing from a local resident who said the store was “a really good experience.”
He said the concept is a new and exciting way to bring more people to the shop, and he said it was a way to make his business work.
“I was really happy with how well it turned out,” Kahan said.
“And I think it’s going to be really successful.”
Kahan’s online store is a first in the state of Massachusetts, but he said other online stores could open in the region.
“I think a lot of these things are already happening, and I think we’re just kind of waiting for the right moment,” he added, noting he’s open to working with other online retailers.
In Massachusetts, online retailers have to have the same minimum online store rules as brick- and-mortars.
Kahan is hoping to set an example for others.
“It’s really about making sure that it’s a real opportunity to get a customer to shop online and not just a physical store,” he explained.
“The customers will be able choose the items, they’ll be able see what they want to buy, and they’ll see what kind of store they can find,” he concluded.
Kogan said his company will also have a full bar, a restaurant, a movie theater, and a coffee shop, among other offerings.