Only a few short months after Piperlime underwent a massive image overhaul, fuelled by celebrities like Chrissy Teigen and Poppy Delevingne, Fast Company is reporting that the Gap-owned retailer is shutting down completely, including the e-commerce site and all brick-and-mortar locations.
"We plan to keep on pushing new ideas and look forward to seeing how we can apply what we’ve learned to the rest of the company," said incoming Gap CEO Art Peck in a press release announcing the company's closure.
Piperlime, which launched in 2006, was Gap's first official foray into starting its own e-commerce business from scratch, without physical locations as a predominant source of revenue. Gap aims to shutter all commere by the end of the first quarter in 2015; Piperlime is worth $16 billion, which is certainly a lot, but is still only about 1 per cent of Gap's total revenue.
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