If you’ve logged on to My-Wardobe.com in the past few weeks you’ll have noticed mind-boggling discounts on current season designer stock.
Escalating from a generous 30 per cent to a too-good-to-be-true 70 per cent off, the wheels have finally come off as today the luxury e-tail site ceased trading.
Cannily, its digital rival Net-a-Porter.com, has acquired some of its assets.
A spokesperson for the company told The Telegraph today: “The Net-a-Porter Group confirms that it has acquired some the Company’s assets, including its URL, which will help direct returning My-Wardrobe.com customers to The Net-a-Porter group,” adding how the company “has not acquired My-Wardrobe.com or any of its liabilities.”
The only functioning part of My-Wardrobe’s business now is that it will continue to accept returns until January 16, 2015.
The site was founded in 2006 by former sub-editor Sarah Curran MBE and her now ex-husband Andrew in conjunction with a boutique called Powder in north London. As online sales quickly outperformed those of the store, they decided to concentrate on making the website a global destination for accessible luxury fashion. Several cash injections from private equity firms ensued to secure its global reach, and in 2012 it ceased stocking menswear to focus on further global expansion and hired a fashion director from glossy magazine Harper’s Bazaar.
Curran left the business in July 2013 at which point Andrew Curran, together with another group of investors, stepped in with a cash injection, but the money ran by November, forcing the company into administration.
Cutting costs meant the business’s headquarters – including buyers and the press office – were moved to Nottingham, where its warehouse and customer service team were based from the beginning.
But co-founder Curran resigned in April this year and the day-to-day running of the business was undertaken by Steven Tucker, My-Wardrobe’s financial backer.
And then, an almighty u-turn occurred; Tucker opened a bricks-and-mortar ‘store’ in Whiteley’s shopping centre in West London, a place where customers could try on the products found on the website before ordering them online. This concept was pitched as a “positive start for My-Wardrobe” by a spokesperson.