The C-Suite Insider: Boxed CEO on fighting the pink tax, doing the right thing and going public.
When Chieh Huang started the online bulk shopping club Boxed in 2013, he didn't know what the"pink tax" was. Now, it's an issue key to the company's identity.
"We have also begun working with legislators in Ohio and Michigan to help support similar repeal efforts in those states," Huang wrote in the blog post. The first time I heard that I was like,"That can't be right." If my wife called me and said,"Hey could you bring some pads on the way home?" And I said,"Listen hon, [Gross Domestic Product] is looking kind of soft this month, luxury good items -- probably not this month, but I promise we’ll get this luxury good next month.
Totally. I think at the end of the day, most companies out there…they like doing what's best for their bottom line better than what's doing what's best for society. And that's fair given that, you know, for-profit companies are for profit. But I think what they're kind of missing is that doing the right thing, which may have short-term impacts to your bottom line may actually be the right move in the long-term.
It absolutely does, for a few reasons. When you think about, you know, say, Uber versus Lyft. Lyft is not cheaper than Uber. Lyft is not more convenient than Uber yet, they have millions and millions of customers for no other reason ostensibly than it's good service and people like the brand. We still believe in that, even though we have to be sharp on pricing. We have to be fast on delivery.
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