In this interview I speak with Richard Kestenbaum, partner at Triangle Capital on the ups and downs of the life of Gilt Group which was recently acquired by Rue La La, it's main competitor. The flash sale commerce model took off like a rocketship a few years ago but has fizzled recently and the market is not growing as much as it was once expected. We also discuss other commerce models including subscription, rental and direct-to-consumer as well as the ongoing battle between the heavyweights Amazon and Walmart.
Richard is a co-founder and Partner of Triangle Capital and has been an investment banker for over 35 years. Richard has a great deal of experience advising clients in merchandising businesses, particularly in the Retail & Consumer sector. Richard is an often-quoted expert on the retail and merchandising industries. He is a Contributor to Forbes.com where he writes a regular blog about trends in retail and consumer product businesses. He also appears regularly in print and other media as well as industry panels and speaking programs.
Before co-founding Triangle, Richard was a Managing Director at a boutique investment banking firm called Financo, Inc. While at Financo, Richard was responsible for a majority of the firm’s apparel industry transactions. Prior to joining Financo, Richard was a Partner and First Vice President at Drexel Burnham Lambert Inc. At Drexel, Richard was responsible for a group of 14 professionals doing middle-market mergers and acquisitions around the world.
Richard is the co-author of three books on finance and computer programming. He is formerly an Adjunct Assistant Professor of International Business at the graduate program of the Stern School of Business at New York University. Richard received a BS in Accounting from New York University and an MBA with a concentration in Finance from Harvard University.