Kitson Is Closing Online And Retail Stores

Posted: Dec 12 2015, 8:40am CST | by , in News | Latest Business News


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Kitson is Closing Online and Retail Stores
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A few years ago, Kitson was featured in almost every paparazzi photo of big-name stars and tabloid fodder like Paris Hilton, Britney Spears, and Lindsay Lohan. In fact, there used to be a waiting list just to get into the store. Just like many of those stars, the brand is starting to go downhill.

The company announced that they are now hosting a "going out of business" sale as they will cut off all online shopping and close all 17 retail locations.

The chief restructuring officer of Kitson, James Wong, said that Kitson was talking with "interested parties" to preserve the brand. This most likely means that, like other names that have gone out of business the last few years, it could come back online.

Kitson was a starting point for many big name lines, including Wildfox Couture.

However, the chain started to grow too quickly and went to places where the rent was too high. They started dealing with lowbrow merchandise, focusing on kitschy or flashy instead of quality, according to the LA Times.

"The key to Kitson is they had to constantly discover the up-and-comer, the latest and greatest," said Lloyd Greif, chief executive of Los Angeles investment banking firm Greif & Co. "But that's difficult. You don't know when the music will end."

Those brands would eventually go on to be sold at department stores for a lower amount. Now that many people are doing their shopping online, it is even worse.

However, many people also felt like Kitson higher ups didn’t know how to spend the vast amounts of money they were bringing in – from paying celebrities to go in and shop to purchasing fancy installments, they tended to spend more than they likely brought in.

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The Author

<a href="/latest_stories/all/all/46" rel="author">Noel Diem</a>
Noel passion is to write about geek culture.




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