Kit and Ace, founded in 2105 for Lululemon founder Chip Wilson, is closing all 32 stores located outside Canada and laying off staff at its Vancouver head office.
The luxury athleisure chain will shift its focus to its “solid” Canadian showrooms and global e-commerce platform. All showroom locations will be closed in the U.S., Australia and the U.K.
“We recognize the traditional world of bricks and mortar retailing is changing, which is why we’re shifting strategies,” said Wilson in a statement. “We believe in the business model for Kit and Ace. Going forward, we will be a stronger company.”
Wilson added, “Fewer stores require fewer people. We remain deeply grateful for the creativity and commitment of those leaving the company and thank them for their valuable contribution.”
Kit and Ace president Wendy Bennison, a former Roots president, has reportedly left the company
