- Vivian Hendriksz |
London - The newly formed company Yoox Net-a-Porter Group is set to wind down its multi-branded platforms Shoescribe.com and TheCorner.com by end of the Spring/Summer 2016 season and migrate its customer base to its other online stores.
Thanks to a severe overlap in both brands and customers, the Milan-based luxury Group decided it was best to pull the plug on the two webshops. Customers who visit either website will be redirected to another of the Group's website to ensure no traffic is lost as well as revenue. Employees who work for either site need not worry, as they will be reallocated with the Group.
According to the financial results published earlier this week by the Group, both Shoescribe.com and TheCorner.com accounted for 2.4 percent of Yoox Net-a-Porter Group's pro-forma net revenues in the first nine months of 2015. The Group also predicts that additional opportunities for the expansion of Net-a-Porter.com shoe business will arise by levering the experience gained from operating Shoescribe.com and by tapping into the value of the redirected customers from both sites.