The Düsseldorf online retailer Fashionette AG is streamlining its range. On Wednesday, the company announced that it would stop selling cosmetic products. The decision was made as part of the ongoing “efficiency and cost-cutting program” and “against the background of the low sales volume and the negative contribution to earnings to date” in the beauty segment, explained the e-commerce specialist.
The division will now be “listed in the 2023 financial year until it is finally discontinued as part of reporting under the position of discontinued operations,” the company explained. The reclassification will be taken into account accordingly in the upcoming forecast for 2023, which Fashionette intends to present on April 28 together with the final results of the past financial year.
The online retailer had already admitted at the beginning of February, citing preliminary figures, that the result in 2022 had fallen far short of expectations. The company then underwent a change in management and is now striving for a “strategic reorientation” under the leadership of the new CEO Dominik Benner.