Fashion retailer Nasty Gal is cutting about 10 per cent of its staff as a part of its strategic restructuring.
“Today we had to layoff 19 employees as part of a strategic restructuring. While this was a difficult decision to make, it is necessary and will allow us to continue to evolve as a company,” said Sheree Waterson, Chief Executive Officer, Nasty Gal.
The layoffs come one year after the fashion brand raised a US $ 16 million funding from Index Ventures and former JCPenney and Apple Executive Ron Johnson, which brought its total support to US $ 65 million. Earlier in 2014 also, the company had cut 10 per cent of its staff.
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“We have seen other tech and apparel brands make similar types of business decisions recently. It is imperative for us to be nimble and think strategically about the future of our brand,” Waterson added.
Nasty Gal is an American-based and owned fashion retailer that specializes in clothing, shoes, and accessories for young women. The company has more than 550,000 customers in over 60 countries.
Founded in 2006, Nasty Gal was named “Fastest Growing Retailer” in 2012 by INC Magazine. It had Internet Retailer-estimated 2014 web sales of US $ 320 million.
