Style.com may have only relaunched as an e-commerce platform this past September, but it looks like Condé Nast was none too pleased with the site's newest iteration. On Tuesday, Farfetch announced that it has entered into a new "global content and commerce partnership" with the publishing giant, dissolving Style.com. According to a release, Style.com will discontinue operations and redirect to Farfetch.com, effective immediately; Farfetch has also acquired Style.com's trademark, intellectual property and customer database.
As Farfetch continues to ramp up efforts to compete with e-commerce rival Yoox Net-a-Porter Group (see: scooping up Net-a-Porter founder Natalie Massenet as recently as February), we're not surprised to see the company engage in a deal of this size. Even so, any details surrounding the partnership remain scarce; Business of Fashion speculates that of Style.com's 75 employees — including fashion director and otherwise street style magnate Yasmin Sewell — most will lose their jobs.
In a statement, Massenet, Co-Chairman of Farfetch, explained in vague terms that the deal will help "elevate the digital shopping experience" and "develop the next evolution of content and commerce":
We are thrilled to be partnering with Condé Nast. Since 1999 I have believed in the importance of combining content and commerce in order to elevate the digital shopping experience. Content educates, entertains and inspires purchases, which is crucial in the customer journey of discovery. We have long admired the depth, breath and sophistication of Condé Nast's international reach and are excited for Farfetch to partner closely with Conde Nast. For the consumer, this will be a joy to move from inspiration to transaction at any time and any place. And for the brands and international boutiques that have always partnered with Condé Nast, this will further enhance their presence in Conde Nast's media. It will be thrilling to develop the next evolution of content and commerce with Anna Wintour and all the brilliant talented minds at Condé Nast.
It's a sad way for Style.com — once a gem in the Condé Nast crown — to go, but surely it can be gathered that the platform wasn't performing as expected in its first eight months. As for Farfetch? Yoox Net-a-Porter had better watch its back, because Farfetch is clearly playing to win.