Fashion news site Refinery29 is on a roll. The hyperlocal fashion site is expanding to San Francisco today, its fourth city after New York, LA, and Chicago. The site covers high-end local fashion designers, and it launched a sister group deals service called Refinery29 Reserve last November. CEO Philippe von Borries tells me the company's is on track to do $8 million in revenues this year, based on the first quarter run-rate. It ended 2010 with $2 million in sales, up from %600,000 in 2009. "Our formula is to engage users with content and convert them into shoppers," he says. Still, he expects advertising to make up 75 percent of his revenues this year, and the commerce business to make up another 25 percent. The Reserve business is only in New York right now, but will soon launch in San Francisco as well. 
Source: http://feedproxy.google.com/~r/Techcrunch/~3/s7oP2O1afnU/
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