Dive Brief:
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After closing its Hunters Alley marketplace and cutting 15% of its staff in June, furniture e-retailer One Kings Lane has announced it will close its Los Angeles office by the end of the year.
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Previous layoffs already largely affected the Los Angeles office, where many of the company’s merchandising staff works. Most are being offered the chance to follow their jobs to New York. The company also has an office in San Francisco.
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One Kings Lane, founded in 2009, is based largely on a flash-sales model, which is struggling lately.
Dive Insight:
Since arriving in April, One Kings Lane CEO Dinesh Lathi has made sweeping changes aimed at changing the company's approach and boosting growth. The flash-sales model that served One Kings Lane well at first appears to be flagging in general, and the company’s revenues have recently fallen. No word on whether or how much the flash-sales model might change.