«
»

The Iconic defends recent job cuts and losses as growth phase

Online retail giant The Iconic has defended recent staff cuts and losses as a shift from start up phase to a more established phase.

The company suffered $14 million in losses in its first year of operations and has laid off about 10% of its 300 member workforce recently.

But if co-founder Adam Jacobs is to be believed, that is all part of the plan.

“Last year we invested heavily in market entry. Our focus was on growth. And we experienced hyper-growth and that was great for us – it was a validation of our business model,” Jacobs recently told the Financial Review Sunday.

To read more about this story, click here.

 

This entry was posted on Wednesday, July 3rd, 2013 at 10:09 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

2 Responses to “The Iconic defends recent job cuts and losses as growth phase”

  1. Solid supply chain better bet for online retailers than fancy websites | OPMC Australia Blog says:
    July 26, 2013 at 8:57 am

    [...] seems to be the philosophy of online fashion retail giant The Iconic, which placed a tremendous amount of importance on getting people their orders as quickly as [...]

  2. Set That sets itself up for success | OPMC Australia Blog says:
    August 5, 2013 at 9:56 am

    [...] Set That has impressed some big players enough to land some lucrative online partnerships. [...]