Park & Bond Set To Be Shut Down By Gilt Groupe
Park & Bond, the curated men’s retail site owned by Gilt Groupe, will soon be closing its digital doors. The company has announced that the spinoff site will be shuttered after the holidays.
Unlike most sites under the Gilt umbrella, which offer limited time sales on premium goods, Park & Bond was a more traditional online retailer, pushing a consistent inventory of regularly priced men’s clothing and accessories.
The site is known for blending in magazine-y editorial content on its homepage as well as for its curated storefronts that offer handpicked selections from tastemakers that have included GQ and Street Etiquette.
In an interview with AllThingsD, Gilt Groupe President Andy Page said the company was looking to consolidate its business divisions. The Park & Bond team will be folded into Gilt Man.
“Customers felt that by having two separate sites to purchase from, it was confusing,” he said. “We are trying to streamline our offerings overall.”
The company is trimming the fat in order to make itself as attractive as possible ahead of a pending initial public offering, expected to take place next year.