Profile: Virgil's Tours Inc (REDEQ.PK)
10 Jan 2013
RedEnvelope, Inc. (RedEnvelope), incorporated in June 1997, is an online retailer of upscale gifts. RedEnvelope offers a collection of gifts through its catalog, Web store and phone store. Its in-house design team creates products and its merchants source products domestically and from various parts of the world, often commissioning artists and vendors to create gifts. It offers an assortment of products in 12 categories with core product categories that include jewelry, home, men's and women's accessories and new baby gifts. RedEnvelope has an internal database of approximately 3.4 million customer names, with approximately 514,000 new customers added during the fiscal year ended April 2, 2007 (fiscal 2007). In April 2008, the Company announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) with the United States Bankruptcy Court for the Northern District of California, San Francisco Division (the Bankruptcy Court).
The Company's Web store generally features approximately 700 to 750 products, increasing to over 800 products during the holiday shopping season. In addition, through the Web store, customers can register for gift reminder service, sign-up to receive e-mail promotions, view their order history, chat live with a customer service representative and request a catalog. In fiscal 2007, approximately 77% of customer orders were placed through its Web store with the remainder placed through its phone store. RedEnvelope also publishes its full-color catalog several times during the year. Each catalog generally features approximately 150 to 200 products, increasing to approximately 260 products during the holiday shopping season. The catalog also serves as the primary direct marketing channel and advertising vehicle for its Web store and phone store.
During fiscal 2007, it mailed approximately 31.5 million catalogs. The Company also sells directly to corporate clients through its business gift services (BGS) group. During fiscal 2007, approximately 81% of RedEnvelope's products, representing approximately 82% of its revenues, were designed and developed by its in-house team. During fiscal 2007, the Company sourced approximately 83% of its products from overseas, representing approximately 86% of its revenues.
The Company competes with Amazon.com, eBay, Macy’s, Bloomingdale’s, Neiman Marcus, Pottery Barn, Brookstone, The Sharper Image, Tiffany’s, Harry & David, J Crew, 1-800-Flowers, Williams-Sonoma, AOL, Yahoo! and Google.
Virgil's Tours Inc
3rd Floor, 201 Spear Street
SAN FRANCISCO CA 94105