The one who re-structures the Book of the Month Club for Millenials is no other than John Lippmann. He is the CEO of the company and strongly believed that it is possible for the Book of the Month to re-launch and become a subscription box business for one and only Millenial Women. He has given the company great success.
His views about Book of the Month
John Lippmann certainly had a music background but along with it, he had a great interest in books which made himself convinced to purchase the Book of the Month Company. He wanted to use his knowledge of music business learned so far from the book industry. Though it was very challenging only one thing was going in his mind, “there was not a lot of innovation in the space because nobody was trying.”
And with this thought, he moved towards making the company relevant again and his plans were all accomplished.
His success story
Although several companies tried to bring back Book of the Month club to its pace again nothing proved effective. And after all the attempts, John Lippman, a 43 years old man who had the background in music and private equity, showed interest in controlling the power of the company which owned Book of the Month.
And with jazzy and new outlines in 2015, the Book of the Month was re-launched. And now the members get the offer to choose any 5 hardcover books for only $14.99. And by making the business digital he had given the freedom of no paper catalogs, no returning of order cards and also the facility of free shipping.
With this, he was successful in making a great number of membership for his newly developed club. The subscribers loved his ideas and showed amazing love and support towards its company which helped him make about $2 million in 2016 and he is moving his dream towards turning it into $10 million in the next passing years.