As the coronavirus crisis batters the fashion industry, Moda Operandi has made the decision to shutter its men’s business.
The luxury online retailer has only been in the menswear business since June 2018, but the spread of a pandemic and slowing demand even among top luxury consumers has caused the site to redirect its focus to its women’s clientele.
“As a result of the economic impact to the fashion industry caused by COVID-19, Moda Operandi has made the difficult decision to sunset our men’s division, and focus on our core business around women’s fashion, fine jewelry, and home products,” said a Moda Operandi spokesperson in a statement. “We are extremely proud of and grateful to our men’s team, who will remain at Moda Operandi through the second quarter to help wind down the business.”
Employees who support the men’s team will stay employed until the end of June to help wind down the business.
This news comes as the troubled e-tailer recently raised $100 million in new equity and debt financing in January. But, it didn’t stop the company from making a sizable cut to its staff, laying off at least 50 people, the same month.