Avenue 32 says goodbye and ceases trading after 6 years

The British fashion online retailer has announced it will cease its operations. Although the reasons have not transcended yet, many in the market point out how fierce competition is for online boutiques.

“GOODBYE...After 6 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 is Avenue 32 farewell message, now posted on their e-commerce site.

Sources close to the matter quoted by ‘WWD’ explain that the company struggled to generate sales, which ultimately generated financial difficulties. In this regard, market experts say it’s difficult for small online retailers to secure funding while coping with increasing with ever-growing competition, especially from the likes of Amazon or newly interested in alternative fashion labels Walmart.

In 2011, Roberta Benteler traded a career in private equity for the fashion world, launching Avenue 32. The e-commerce site was backed by Germany’s Benteler Group.