The British fashion retailer, is planning to shut down its online trading, by 2018 – but this doesn’t necessarily mean that the brand is struggling.
According to Drapers, Lipsy will cease trading from its own website in January 2018.
Founded in 2006, the brand, most well known for its party and evening wear, currently has 40 stores in the UK, and is reportedly planning to open “several more” this autumn, followed by a store on Oxford Street in March 2018.
But why shouldn’t we be worried for the young brand? Well, back in July, Lipsy reported a 17% increase in turnover for the year to January 28; and sales of third party brands through Lipsy increase to 34%.
This is because the brand has the ‘vast majority of online sales through Next’, as well as other online retailers such as ASOS, Very and Zalando.
Self described on their website as ‘unique’, ‘stylish’ and ‘sexy’, the brand recently collaborated with Michelle Keegan back in July with a range of glamorous bodycon dresses, shirts and Bardot style pieces.
What do you think? Do you think it’s a good move for Lipsy to shut down their site?