With competition as fierce as eBay and Etsy, the handmade and used-goods marketplace is a difficult place to find success as an online retailer. The latest casualty: Hunters Alley, which has been described as the newer, quirkier sister to flash-sale site One Kings Lane.
According to Re/code, One Kings Lane said Tuesday that it has laid off 15 percent of its staff (79 jobs) in a corporate restructuring, and that it will also be shuttering Hunters Alley just five months after its launch and less than six months after the company raised a $112 million investment that valued it at more than $900 million.
CEO, Dinesh Lathi, who took the helm in April, is said to be the reason for the changes, which aim to focus efforts back to One Kings Lane.
"After careful consideration we have decided to close the Hunters Alley marketplace in an effort to focus on our core business," a One Kings Lane spokesperson told The Huffington Post. "We are working to ensure a smooth transition for buyers and sellers, and moving forward we’ll continue to feature a wide assortment of vintage products on One Kings Lane," she added.
One Kings Lane was founded in the fall of 2008 by Susan Feldman, a former senior sales executive in New York, and Alison Pincus, whose background includes web content and business development. The spinoff site was a response to feedback that revealed shoppers "were dying to get in on the action themselves, but didn't have anywhere to do it online," merchandising manager Noel Fahden explained.
Hunters Alley will continue to take orders until the site comes down, likely early next week. All orders taken will be fulfilled, a spokesperson said.
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