Off the air, FashionAIr

Online fashion and entertainment platform FashionAir is closing its fashionable online doors. The high end fashion website is not much more than a holding page after its owner stopped funding, according to The Times. Fashionair was co-founded by Simon Fuller, former manager of the Spice Girls and Sojin Lee, a former Net-a-Porter buying executive, and was established as an “entertainment and shopping platform”. Last week staff were told that they would be made redundant after an investment review by its American parent.

CKx, which bought Mr Fuller’s 19 Entertainment in 2005, said that it was scaling back its London operations and would not be funding the business. Mr Fuller left CKx, which owns and produces American Idol, in March but stayed as the “creative force” behind its television programmes, with a profit-sharing agreement.

A spokesman said: “Fashionair is to cease production of new content and scale down its London operation with immediate effect.” Related Links

Ms Lee was a former chief buyer at Net-a-Porter, an online luxury fashion retailer sold last month for £50 million to Richemont, the owner of Cartier. She is thought to be seeking a new backer for Fashionair. CKx, which controls Elvis Presley’s estate as well as 19 Entertainment, this week reported revenue of $67 million (£45 million) for the first quarter, down 18 per cent.

Image: FashionAir co-founder Sojin Lee