Business

Peluso to lead Gilt Groupe

Fashion tech startup Gilt Groupe named a new CEO yesterday.

Michelle Peluso — who has served on Gilt’s board since 2009, was Citigroup’s chief marketing officer, consumer, and once headed Travelocity — will take the top spot at the web retailer.

Kevin Ryan, who had been serving as CEO, will remain as Gilt’s chairman.

The change is expected in February.

“Gilt has done a terrific job establishing itself as one of the most innovative online shopping destinations and I am looking forward to continuing to build on Gilt’s growth and success,” Peluso said in a statement.

Gilt, mostly known for its high-end fashion sales, was co-founded in 2007 by Ryan.

Gilt revenues more than doubled in 2011 from 2010, to more than $500 million.

With the fast growth, it attracted enormous interest in a fundraising round last year that valued the company at $1 billion, a rare plateau in New York’s tech scene.

Ryan said that, while revenue growth has slowed in 2012, Gilt had its first Ebitda-positive month in October.