In August, Balaguer raised more than $10 million in the first round of venture capital funding for Nuevo Mall from investors Li & Fung and Regatta USA, which had previously partnered with LatinWE to develop Vergara's Kmart line. Balaguer affirms NuevoMall.com, set to launch in November, currently has a $40 million valuation.
But will it take off? "My experience has been that the success of measurement is the longevity and relevance of your project and how it evolves and stays connected to your consumer and community you're serving," says Robb, its CEO. "We will know very rapidly how successful it is by how we incentivize our fans."
Balaguer is firm in his positive outlook of the new venture: "I foresee Nuevo Mall is going to revolutionize the way we experience talent's social media and online shopping...This is a new world."
This post appears as part of a joint partnership with Poder Magazine. The article originally appeared in print and at poder360.com.