Fashion website scraps expansion

By THIS IS MONEY
Updated:

 

Fashion advice website Ready2shop is the latest victim of the dot.com backlash, it was reported today.

The internet venture, founded by Daily Telegraph columnists Susannah Constantine and Trinny Woodall, has laid off a quarter of its staff and scrapped its planned expansion into health and furnishings.

Ms Woodall, however, has denied the site is in financial difficulty. She claims the recent problems in the dot.com sector have simply forced many companies to rethink their business plans. She said the site, which offers advice rather than selling goods on-line, was now hoping to 'monetise' its 30,000 subscribers.

The news comes just a few months after the crash in dot.com values.

The site was founded after Ms Woodall and Ms Constantine secured £5 million from the venture capital firms JH Whitney and Atlas Venture.

Around 15 staff out of a total of 54 have now been laid off.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Most watched Money videos