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Private Shopping Clubs Combine Discounts With Luxury (We Have One Kings Lane Coupons)

http://techcrunch.com/2009/04/06/private-shopping-clubs-combine-discounts-with-luxury-we-have-one-kings-lane-coupons/ Thanks to a surge of consumers looking for deals in the recessionary economy, private online sample sales, which offer highly discounted merchandise from luxury retailers looking to unload excess inventory, is becoming a fast-growing business. BuyVIP, a European private online shopping club with more than 3.5 million members, just secured $14.9 million in Series A funding from Kennet Partners, Bertelsmann Digital Media Investments, 3i Group and Molins Capital. BuyVIP’s American counterparts, Ideeli and Gilt Groupe have also been able to latch on to this expanding market where big-name designers like Calvin Klein, Zac Posen and Givenchy sell last season’s clothes, jewelry and handbags to shoppers at significant markdowns. Now, private shopping club One Kings Lane is trying to be the online sample sale for affordable designer home wares and furnishings. The first 100 TechCrunch readers who sign up here will get a $25 credit towards any purchase.