Last Month in an interview with WWD.com Conde Nast’s Chief Business Officer Jim Norton spoke on a bunch of things related to the company and its future plans . He couldn’t say whether or not the company was for sale saying that he can’t address it and that the idea of a sale has never come across his desk. He talked about how much print meant to the company and why they had to let 100 people go. Another topic Mr. Norton was asked about was Style.com and why it was taking so long for a U.S. edition to launch. He responded by saying:
Yeah. How much are we talking about Style right now? It’s Condé Nast International right now that is really piloting a lot of the e-commerce.
Well this morning we now know why it didn’t seem like Style.com was a priority because the site is being shut down after just nine months. Style.com was relaunched as a “Global Multibrand E-Commerce site” and Conde Nast is said to have pumped $100 million into it but for some reason couldn’t get it to work, especially with a domain name like STYLE.com and and more than 340 million built in customers. visitors to Style.com are now sent over to Farfetch which is said to be a “rapidly growing” online market place for high end fashion items that Conde Nast is also an investor in. Hmmm? Well there is an idea that flew over everyone’s head at Conde Nast. The company is said to have invested $100 million into Style.com right? And is also an early investor in this rapidly growing e-commerce operating called Farfetch that Style.com was partnered with right? Assuming it wasn’t thought of, why didn’t Conde just buy Farfetch, you know the rapidly growing online market place for high end items and fold it into Style.com using Farfetch’s engine to power Style.com which has a far better domain name?
Matt Starker Conde Nast’s GM of Digital Strategy Said and Acknowledged:
“Our experience with Style.com taught us that content is a powerful driver of commerce, and the combination of great editorial with a great shopping experience creates a great user experience and revenue upside. The skill sets required to create content and those required to run a seamless shopping site were different.
To run the all new Style.com Conde Nast hired some big guns like the head of e-commerce at the French department store Galeries Lafayette, and the fashion director Yasmin Sewell, a well-known industry consultant and street-style personality. But this wasn’t enough and rumors of infighting didn’t help either. Farfetch has acquired some assets of Style.com including the domain name and later on this year, readers of GQ and Vogue in the U.S. will have the ability to shop from content via Farfetch. Now the ideas seem to be flowing at Conde now that Style.com is dead.
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