The Berlin streetwear platform Highsnobiety is to cut 24 jobs, making up around 10 percent of the entire workforce, and impacting the areas of editorial and commerce, as well as data and marketing. In addition, the in-house creative agency HS + is also to be affected by the downsizing.
According to Business of Fashion, employees were informed about the changes last week in an internal conference call with CEO David Fischer and chief operating officer Jürgen Hopfgartner. According to the industry magazine, the layoffs were justified by the unfavorable economic conditions and the need for cost-cutting measures.
Last June, the Berlin online retailer Zalando acquired a majority stake in Highsnobiety. Since then, the platform has taken further steps in physical retail. The first own store Unter den Linden in Berlin is expected to follow this summer, but according to Business of Fashion the opening will now be postponed to the end of the year.
The workforce is not only being reduced at Highsnobiety, Zalando also announced in February that it would cut hundreds of jobs. It is unclear exactly how many jobs will be affected.
Highsnobiety has not yet responded to a request for comment from FashionUnited.