Gurley recounts how Zappos extended payables to 90 days versus industry standard of 45 during crisis.
“And I don't remember the exact number, but he said something like 90. And having worked with Nordstrom at nordstrom.com, I knew the industry standard was like half that, like 45.”
Gurley recounts how Tony Hsieh doubled Zappos's payment terms from 45 to 90 days by threatening vendors during a crisis.
“And I said, how in the world did you accomplish that? And he said, I just called them all and said, if they didn't move to 90, we were going out of business.”