The beloved go-to e-commerce site known for its "top-brand, vintage and designer items" along with an array of endless lifestyle inspirations, One Kings Lane is about to undergo some major company changes.
The company's headquarters is located in San Francisco, CA, and, since the launch of OKL in 2008, the company has opened two more offices in Los Angeles and in New York City. However, according to Home and Textiles Today, the online retailer is closing its Beverly Hills doors.
Current employees have been notified that the shut down will occur by the end of the year. It was only a few months ago in June when the company cut nearly 80 jobs resulting in laying off 15 percent of its staff.
Along with restructuring its corporate team, the online retailer got rid of its Hunters Alley site, the short-lived sister flash-sale site allowing individual sellers to sell their used interior products directly to individual buyers.
A spokesperson from One Kings Lane told The Huffington Post, "After careful consideration we have decided to close the Hunters Alley marketplace in an effort to focus on our core business. We are working to ensure a smooth transition for buyers and sellers, and moving forward we'll continue to feature a wide assortment of vintage products on One Kings Lane."
The previous site, Hunters Alley, had originally launched out of the Los Angeles office. Reportedly, employees of the Beverly Hills workplace became aware of the shut down yesterday and have been given the opportunity to transfer to the New York locations.
In January, the company had announced the $112 million it received in venture capital funding. According to Recode, the San Francisco-based company is valued at $912 million.
Dinesh Lathi took over as the company's chief executive officer in April and is apparently trying to cut back where possible in hopes of generating business growth for the future of One Kings Lane.
