Feeling invigorated by wholesale and corporate opportunities at NAMM, Nici's Picks applied to Etsy Wholesale and will hopefully hear back in time for Etsy Open Call.
Ironically, Nici's Picks evolved out of a dissatisfaction with Etsy's de-clumping, the drive to have market domination in the custom metal guitar pick market, and gain exposure in Google Shopping. Born on Etsy in 2012, we are once again eyeing up the company for networking opportunities to help Nici's Picks grow in the #1 producer of metal guitar picks. Already #1 in Google for brass and bronze guitar picks, Nici's Picks LLC passed the 6 month mark with some serious causes for celebration.
After hitting an all time low of $6.00 per share, Etsy has had quite the Bull Run since February 2016 with a stunning 37% increase per share. As of 15:00 today, the stock was making strong gains and heading towards $10.00 per share. Indeed we have very mixed feelings about Etsy and personally I'm not convinced going public was the correct move to benefit both the company and sellers. My sentiments come from a particular fondness for REIT investing and a desire to see similar models evolve elsewhere in the markets which leaves me to ponder the idea of an Etsy Artist Trust. In this model, Etsy would sell shares primarily to sellers and then re-distribute 85% of earnings to the shareholders much like EPR Properties or Realty Income. Income would be generated by seller fees, leasing studio space, and providing seller services such as accounting or tax filing. My thinking is to directly involve sellers in the company and keep the fiduciaries between the sellers and administration instead of anonymous shareholders. Of course, there's nothing stopping sellers from investing in Etsy under the current model, however the consensus seems to be leaning more towards sellers resisting such investments in favour of creating their own websites or finding other opportunities elsewhere due to eroded confidence in the administration. Since April though, we have seen tremendous growth in our Etsy Shops and are hopeful Etsy can shake off some of the recent negativity to restore buyer, seller, and investor confidence in the company.
While certainly feeling positive about Etsy once again, we will continue to maintain the position that selling should be managed with a portfolio approach that includes a good collection of various selling channels, social media, live venues, trade shows, blogs, and having a presence on the biggest player such as Amazon and Ebay.