/
1x
Advertisement
Proudly Canadian, obsessively Toronto. Subscribe to Toronto Life!
Style

Will Gilt Groupe in Canada survive? Gilt Groupe insists (despite rumours) that its finances are solid

By Frances McInnis
Copy link
Will Gilt Groupe in Canada survive? Gilt Groupe insists (despite rumours) that its finances are solid

Will Gilt Groupe in Canada survive? Gilt Groupe insists (despite rumours) that its finances are solid
Gilt Groupe

, grand poohbah of online designer flash sales and purveyor of Lady Gaga’s Mugler dress, has taken to the Internet to defend its financial health. After yesterday’s BetaBeat report of impending layoffs and restructuring at the company, Gilt CEO Kevin Ryan contacted AllThingsD to do some damage control. “We are not closing down any businesses,” he said, adding that the 50 or so layoffs that executives have planned will be more than offset by hiring in the coming months. Whether or not Gilt is in a spot of financial trouble, it’s still contending with a flood of competition from Ideeli, Beyond the Rack, Rue La La and the like. We’re left wondering if the expansion into Canada wasn’t just a wee bit premature.

NEVER MISS A TORONTO LIFE STORY

Sign up for This City, our free newsletter about everything that matters right now in Toronto politics, sports, business, culture, society and more.

By signing up, you agree to our terms of use and privacy policy.
You may unsubscribe at any time.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Advertisement
Advertisement

Big Stories

Inside the rise and fall of the Vaulter Bandit, the 21st century’s most notorious bank robber
Deep Dives

Inside the rise and fall of the Vaulter Bandit, the 21st century’s most notorious bank robber

Inside the Latest Issue

The June issue of Toronto Life features our annual ranking of the best new restaurants. Plus, our obsessive coverage of everything that matters now in the city.