Ernst & Young Announces Karmaloop CEO and Founder Greg Selkoe is the Entrepreneur Of The Year® 2012 -- Award Winner in New England

BOSTON, June 26, 2012 /PRNewswire/ -- Ernst & Young LLP today announced that Greg Selkoe, CEO and Founder of Karmaloop, the online streetwear giant, received the Ernst & Young Entrepreneur Of The Year® 2012 Award in the e-commerce category in New England. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Selkoe was selected by an independent panel of judges, and the award was presented at a special gala ceremony on Thursday, June 21, 2012.

"This is very exciting for me and I feel truly honored.  I wouldn't be here today without my staff at Karmaloop! We are working really hard to make Karmaloop the best "Verge Culture" destination in the world for commerce and content.  Another really wonderful aspect of this recognition, for me, is that it will help me to build the accelerator program for my new non-profit, Future Boston Alliance. Future Boston is dedicated to supporting entrepreneurship and creativity in Boston, in an effort to retain more young talent and start-ups.  I want to help other entrepreneurs thrive in Boston."

Now in its 26th year, the Ernst & Young Entrepreneur Of The Year Program past winners include such entrepreneurs as Jeff Bezos of Amazon.com, Michael Dell of Dell Inc., Herb Kelleher of Southwest Airlines, Larry Page and Sergey Brin of Google, Richard Schulze of Best Buy, Andrew Mason of Groupon, Mindy Grossman of HSN, Inc., Reid Hoffman and Jeff Weiner of LinkedIn, and many more.

As a New England regional award winner, Selkoe is now eligible for the National Entrepreneur of the Year 2012 Award. Award winners in several national categories, as well as the National Entrepreneur of the Year Overall Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 17, 2012. The awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation's most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur of the Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation. In New England, sponsors include Marsh, Nixon Peabody LLP, Citybizlist, Murray Devine, RR Donnelley, Scherzer International

About Ernst & Young Entrepreneur Of The Year®

 Ernst & Young Entrepreneur of the Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur of the Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About Karmaloop 
Karmaloop.com is one of the world's largest and most-respected online retailers of street wear (including footwear, apparel and accessories), offering more than 500 of the hottest men's and women's brands to a loyal customer base spanning 80 countries, including a partnership with Xiu.com, a fashion powerhouse that distributes iconic luxury brands to the Chinese market. Attracting more than 4.5 million unique monthly visitors, the company is projected to do over $200 million dollars in revenue in 2012. The Karmaloop, Inc. online platforms also include KarmaloopTV.com, PLNDR.com, BoylstonTradingCo.com, BrickHarbor.com, Karmaloop Europe, Kazbah Underground Brands, and MissKL.com, a ladies-only sister site of Karmaloop.com. The company owns 11 private label clothing brands. The multi-platform broadband programming network KarmaloopTV launched in 2008 and received 69 million video views in 2011. In 2012, KarmaloopTV will launch a network via IPTV (Internet Protocol Television) as well as 1 of the 100 premium YouTube content channels. Founded in 2000 by Greg Selkoe, Karmaloop, Inc. is headquartered in Boston, MA, with offices and TV studio in New York City, an office in LA and a Karmaloop Europe headquarters in Denmark.

SOURCE Karmaloop, Inc.