Elliot Djmal
- Co-CEO at Material Retail
GetLatka interview
How Material Retail Hit 200 Software Customers While Reaching Profitability (Interview with CEO Elliot Djmal)
Elliot Djmal (Co-CEO of Material Retail) spoke to Nathan Latka on June 21, 2023.
Material Retail figures from the interview
- Software Customers (2023)
- 200
- Software Price (2023)
- $125 per month
- Total Funding Raised
- $19M
- Full-Time Staff (2023)
- 18
“So Shoptix, we rebranded to materialretail in 2022.”
“So software is like 70% of the revenue. Oh, wow. Yeah. But a lot of the economic activity happens in the marketplace. The marketplace is not really profitable for us. We use it as G channel. Called a funnel. Yeah. Marketing funnel. And we also use it to add value to the boutiques. Like the boutiques use our software. It's one of our biggest differentiators. Like why would you use material versus Shopify? It's because you come in and you start getting online sales right away without having to pay, you know, Google or Facebook for ads.”
“So we have 200 boutiques who are using the like, full software suite and then, like, another, call it, 300 on top of that who are selling on the marketplace.”
Bio
As an experienced entrepreneur, I successfully led an independent retail business with 8 locations for 8 years. Currently, I serve as the Co-CEO of a dynamic startup that offers a comprehensive suite of retail software. Our innovative solutions empower independent retailers, bridging the gap between brick-and-mortar and online channels, while also incorporating a fashion marketplace to showcase and promote emerging brands. With a passion for nurturing growth, we provide a holistic platform for retailers to expand their reach and thrive in the digital era.