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Thread: Vancouver's Shoes.com shuts down operations

  1. #1
    INGSOC GURPS's Avatar
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    Vancouver's Shoes.com shuts down operations

    Vancouver's Shoes.com shuts down operations


    Vancouver e-commerce company Shoes.com Technologies Inc. shut down operations effective Friday, and will work with its lenders to liquidate its assets and assign some of its companies to bankruptcy. The company took its websites offline and said it had closed its two stores in Vancouver and Toronto.

    It’s an abrupt end for a company that was once touted as an IPO hopeful, as chairman and CEO Roger Hardy hoped to repeat the success of his previous e-commerce company – online eye wear merchant Coastal Contacts – which he sold in 2014 to Essilor International for $430-million. Shoes.com had previously said it brought in more than $200-million in revenue two years ago and had hopes to reach $1-billion by 2020. Mr. Hardy did not return messages Friday.

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    Shoes.com’s demise is the latest in a string of e-commerce disappointments, as companies including Canada’s Shop.ca and Beyond the Rack and U.S. retailers One Kings Lane and Hayneedle either filed for creditor protection or sold for a fraction of their former value. At the same time, many other e-commerce merchants continue to thrive, as evidenced by the strong growth of Ottawa-based online retail management platform Shopify.com and last year’s sale by upstart Dollar Shave Club to Unilever for $1-billion. E-commerce sales are expected to expand well ahead of overall retail sales in Canada and internationally through the end of this decade, according to eMarketer.

    Doug Stephens, founder of consultancy Retail Prophet, said the company suffered from having too few managers from the fashion industry and too many from the technology sector. And customer service “wasn’t where it needed to be to give online customers the level of confidence necessary – especially in such a tricky category ...”


    A Zappos competitor is ditching Ivanka Trump's shoe line


    Shoes.com, a Canadian online shoe store, is ditching Ivanka Trump's shoe line following calls for a boycott of the Trump family's businesses.

    In the days after Donald Trump's presidential election, anti-Trump Twitter users have been circulating a spreadsheet that lists retailers selling Trump brand products. The so-called Grab Your Wallet movement is encouraging people to boycott the companies in an effort to get them to drop Trump products.

    On Saturday, Shoes.com — one of the brands that was on the list — announced on Twitter that it was removing Ivanka Trump shoes from its inventory.

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    I wonder if the two are related
    Never attribute to malice that which is adequately explained by stupidity.
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  2. #2
    Board Mommy vraiblonde's Avatar
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    Quote Originally Posted by GURPS View Post
    I wonder if the two are related
    They are related in that whoever runs Shoes.com is clearly an ideologue and not a serious business person. The Netflix guy could give him a tip or two about allowing the fringe crazies to dictate your business practices.
    "Too much agreement kills a chat."
    ~Eldridge Cleaver

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