In any case, it's far from proven that online shopping malls will work. Online shoppers tend to go directly to retailers' sites. Fashionmall also has yet to turn the corner financially. It derives its revenues from advertising sales, sponsorships, placement fees, and by generating leads for member stores. Market followers such as Tom Julian, a trend analyst for marketing firm Fallon, have their doubts about Narasin's chances of success.
People just think of it as a very expensive mistake to learn from.
Ben Narasin realizes that. And he's convinced that the lesson is even a spectacular flameout can present opportunities for a saavy entrepreneur. The McGraw-Hill Companies Inc. All rights reserved.