USD1.2 billion in 2009 from US$1.6 million in sales in 2000 In 2009 Amazon purchased Zappos for US$1.2 billion. Ten years earlier, Zappos had sales of just US$1.6 million. By any measure, and even taking into account the propensity of businesses to pay over the odds for online retailers in 2009, this valuation suggests that […]

USD1.2 billion in 2009 from US$1.6 million in sales in 2000 In 2009 Amazon purchased Zappos for US$1.2 billion. Ten years earlier, Zappos had sales of just US$1.6 million. By any measure, and even taking into account the propensity of businesses to pay over the odds for online retailers in 2009, this valuation suggests that the previous ten years had been stunningly successful for Zappos. What is more, that success has been sustained since 2009. In 2020, Zappos is the world’s largest shoe store (albeit – online). Global sales in 2019 were US$568 million.Behind the growth of Zappos has been Tony Hsieh. On many occasions, Tony has been asked to explain the success of Zappos. Here are some of his suggestions: “At Zappos, we really view culture as our No. 1 priority. We decided that if we get the culture right, most of the stuff, like building a brand around…