Headlines

Birchbox Cuts Staff

Suspends Canadian operations

Published

8 years ago

February 1, 2016

Beauty retail startup Birchbox Inc. (New York) will be cutting 15 percent of its current staff and will suspend its Canadian operations. Bloomberg Business reports the move comes after the company’s venture capital funding has begun to dwindle.

Birchbox CEO Katia Beauchamp said in a statement that the company will use the cuts to reinvest in current opportunities and future growth, as well as attempt to reach profitability this year.

Venture capital funding for tech-based startups fell in the fourth quarter and reached its all-time low since 2011. The advent of subscription services from other companies, such as Amazon.com Inc. (Seattle) has also increased competition for the beauty retailer.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design