Kit and Ace closes international stores
Canadian apparel brand Kit and Ace is reducing its head office staff and closing its international stores, including in the U.S., Australia and the U.K.
The announcement was made in a short and abrupt news statement released on Wednesday, where the retailer announced it is simplifying its business in order to focus on its Canadian operations and global e-commerce platform.
"We recognize the traditional world of bricks and mortar retailing is changing, which is why we're shifting strategies," said Chip Wilson, founder of Kit and Ace parent company, Hold It All Inc. "We believe in the business model for Kit and Ace. Going forward, we will be a stronger company."
Adding that: "Fewer stores require fewer people. We remain deeply grateful for the creativity and commitment of those leaving the company and thank them for their valuable contribution."
The Vancouver-based retailer rooted in athletic wear was founded in 2014 by Shannon Wilson and her stepson, JJ Wilson, before her husband and Lululemon founder Chip Wilson, took over the business. The brand launched a rapid expansion, opening over 60 stores internationally in less than three years.
Since early last year, the company has seen a series of layoffs. Prior to the layoffs, Kit and Ace once employed some 600 people.
Former Roots Canada executive Wendy Bennison was hired last May as President.
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