Fashion retailer My-Wardrobe.com which stocks designers such as Tom Ford and Mulberry, has cancelled their spring 2015 orders. It is pausing to see what the next steps will be and reviewing its options.
My-Wardrobe will continue to sell its autumn 2014 stock and there will be no redundancies. Employees and suppliers will still be paid during the review period.
The online retailer was established in 2006 by Andrew and Sarah Curran. Sarah stepped down shortly after receiving an MBE for services to fashion alongside Andrew after it was bought out of administration by Growth Capital Acquisitions.
The company is now run by Steven Tucker who fronted the takeover. My-Wardrobe entered administration last year in November but was bought the same month through a controversial process known as pre-pack. The new opportunity for the company meant the plans were to expand, and ultimately, compete with sites like Net-a-porter. Unfortunately for My-Wardrobe their performance since the takeover has been mixed.
On June 30th, My-Wardrobe.com opened their first brick-and-motor store in Whiteleys shopping centre Bayswater. The 1,200 square foot store gives customers the option to try on products found on the website before ordering them. Customers can then arrange for their purchases to be delivered to an address or click and collect in store. The site also works as a showroom for press and is where the retailer‘s offices are located.
My-Wardrobe may require further funding as the company works on prospective deals. They have yet to appoint advisers to handle the discussion.
The major cancelation comes about at the same time as My-Wardrobes co founder Sarah Curran fronted a new website launch with Shop Direct and Very.co.uk. Sarah joined Shop Direct in 2013. The luxury standalone division from Very is VeryExlusive.co.uk which will go live in February 2015 and will offer diffusion and second designer lines by McQ, See by Chloe, Marc by Marc Jacobs, Carven, Red Valentino and Vivienne Westwood. A print and digital campaign is set to run from October to February.