US jewellery trunk show phenomenon will allow flexible working hours.
Stella & Dot, a social commerce initiative which has taken North America by storm, is set to launch in the UK later this year.
The company model works through empowering its sales team, which it calls stylists, to sell its designer jewellery and accessories at home or office gatherings in a trunk show format, and online via e-commerce platforms.
Stella & Dot is expected to record a turnover of over $200m this year. It will open its doors in the UK this autumn. The business has grown from a $1m turnover in 2007 to its present size in four years.
The business, which is ranked as the 57th fastest growing company in the US by Fortune Magazine, aims to recruit 500 of its stylists in the UK this year. It hopes that its business model will appeal to women who are seeking flexible working hours and who want to build a career from home, following on from the success of similar initiatives such as Avon cosmetics.
Mike Lohner, chairman of Stella & Dot, said: “Comparisons may be drawn with conventional direct selling models, but Stella & Dot is actually on the cutting edge of social commerce. Our stylists benefit from enjoying the ability to grow a business using all the social media tools that the internet now provides."
"This is the future of retail and our successful track record in the US and Canada demonstrates how quickly social commerce is becoming mainstream," he added.
In the US, the top performing Stella & Dot stylists make up to $500,000 per year through selling jewellery to their friends and peers and through building their own sales team.
Each Stella & Dot stylist acts as a standalone business owner and receives a 30% commission on all sales. Each is provided with their own e-commerce website as well as the tools to host trunk shows at their home or office.
The company was founded by mother-of-two Jessica Herrin, who was inspired to set up a business specifically to cater for women who wanted to succeed in juggling a career with home and childcare demands.
She said: “Time is our most precious commodity. My goal was to create a company that allows women to thrive as entrepreneurs on their own terms and provides ample time for family and other commitments.”