Fashionette to close smartwatch division

As part of the efficiency and cost reduction program, Fashionette AG has announced that the smartwatch division will be closed in May 2023.

The development follows the company’s recent decision to discontinue the beauty division.

With smartwatches, the company said in a release, Fashionette and the associated Brandfield Group (Netherlands) achieved sales in the single-digit million euro range and a negative contribution to earnings to date.

Fashionette AG is a European e-commerce group offering a selected range of premium and luxury fashion accessories, such as handbags, shoes, small leather goods, sunglasses, watches and jewellery from more than 300 brands through Fashionette.com and Brandfield.com.