- Sara Ehlers |
Apparel company Kit and Ace is undergoing some hardships in the current retail climate. The company is experiencing layoffs as well as closures for some of its international stores including locations in the U.S., U.K., and Australia.
Two of the brands stores in the U.K. have already closed, according to Drapers. Kit and Ace’s locations in Shoreditch and Borough have now effectively closed, while more U.K. locations seem to be headed in the same direction. The company, founded by the family of Lululemon founder Chip Wilson, has also announced major layoffs on an international scale. As reported by Huffington Post, the Canada-based company will be laying off employees in Australia, the U.S. and the U.K.
Founded by Shannon and JJ Wilson three years ago, this doesn’t mark the company’s first time experiencing layoffs. Kit and Ace also laid off approximately 35 people last February. Experiencing more difficulties in retail this year, the brand will also include president Wendy Bennison in part of the layoffs, who joined Kit and Ace just a year ago.
In addition to the layoffs, the lifestyle brand will also be shutting down some of its bricks-and-mortar stores. “We recognize the traditional world of bricks and mortar retailing is changing, which is why we’re shifting strategies,” Wilson, a founder of Hold It All Inc., parent company of Kit and Ace, said according to WWD. “Going forward, we will be a stronger company…We remain deeply grateful for the creativity and commitment of those leaving the company and thank them for their valuable contribution.” It seems that the layoffs and store closures do not necessarily mean the company is headed towards its end. While the future of Kit and Ace remains bleak, the activewear brand is stil set to close 32 of its stores including U.S. and Canadian units.