Condé Nast’s experiment with Style.com, an e-commerce destination, has flopped, as Business of Fashion reports. Condé Nast had planned to invest $100 million in Style.com over four years, but after one year, it is shutting the site down. It is unclear what will happen to Style.com’s 75 employees.
Condé Nast has inked a strategic partnership with Farfetch, a brand that it has invested in, although the terms of the deal are still not public. But it appears as if the new strategy is for Condé Nast to focus on delivering content and collaborating with other brands that have expertise in technology and e-commerce.