Online luxury fashion retailer Avenue 32 has announced its closure after a failed sales process.
This morning an announcement on the retailer’s site read: “After six wonderful years, we have decided to focus on new projects and so, sadly, Avenue32.com is now closed.
“Thank you for being such loyal customers.”
This follows news last month that the company, founded just eight years ago, had put itself up for sale after a “strategic market review”.
Sources stated that this was due to under performance.
It added that any orders placed before August 11 would be processed as usual, and the returns period remains 15 days.
Meanwhile, rival online luxury fashion retailers like Farfetched and Matchesfashion continue to grow rapidly.