CEO of ModCloth wins Entrepreneur of the Year
Eric Koger, CEO of ModCloth, was named the Ernst & Young 2010 Entrepreneur of the Year for the Upstate New York, Western Pennsylvania and West Virginia region in the eBusiness category at a ceremony held Friday night. This honor is just the latest in a series of accolades the young couple behind ModCloth has received. In 2009 they were featured by "Inc Magazine" in their 30 Under 30 Coolest Young Entrepreneurs and they were recently named one of the Top 15 Tech Entrepreneurs by "BusinessWeek."
"This award is just a testament to the legendary efforts of the entire ModCloth team," says Eric. "Without such a dynamic and talented group of individuals putting their heads and hearts together, ModCloth wouldn't be what it is today. It's a privilege to represent all of them, and it's my pleasure to accept this award in their honor."
Eric's story is truly unique—he and wife and co-founder, Susan Gregg Koger, started ModCloth in 2002 when they were 18 and 17 respectively, the summer before they began attending college at Carnegie Mellon University. This dynamic duo combined Eric's technical skills and business aptitude with Susan's creativity and love for all things vintage to build a successful company. The business began as a small dorm-room venture. Susan loved thrift-shopping and couldn't pass up a good find and ended up with a collection of pieces that weren't necessarily in her size, or didn't fit her personal style, but that she knew other vintage-lovers would adore. To facilitate the business, Eric built a website where Susan could offer her one-of-a-kind finds up for sale. On the first day a customer made a purchase, and the rest is history. The company has since gained attention for its dedication to customer engagement on the site, as well as being a vanguard in the social media sphere. Their goal is to democratize fashion and build a social shopping community that empowers both indie designers and customers.
This year, the Entrepreneur Of The Year awards program celebrates its 24th anniversary. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world. Awards are given to entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Entrepreneurs are nominated and evaluated by those in each region, including local business, academic, and community leaders.
This regional award will enable Eric to compete in the national program in November, and potentially internationally. Eric, along with other regional honorees, will attend the National Entrepreneur of the Year gala on November 13, 2010, hosted by Jay Leno in Palm Springs, California. This event is the country's most prestigious gathering of high-growth, market-leading companies in the nation.
ModCloth.com is an e-retailer that sells affordable independent designer women's fashion. They've attracted a large, devoted following through their unique selection of indie clothing and engaging promotions on the ModLife Blog and social networks. The company is founded by husband and wife team Eric Koger and Susan Gregg Koger.