End of an Era: Major Washington Online Retailer Suspends Operations, Lays Off Employees
Zulily, once seen as a serious challenger to Amazon, officially ended operations last week, marking a sad demise for the online retail business.
The online retailer, based in Seattle, Washington, was established in 2010. By 2014, it had achieved sales exceeding one billion dollars, joining the ranks of Amazon and Old Navy as one of the fastest companies to reach this revenue milestone.
Zulily, which reached a valuation of $7 billion, had been a sponsor of the Seattle Sounders from 2019 to 2022. However, the company has faced recent challenges, including laying off staff and the resignation of its CEO. In a recent announcement, Zulily revealed that it would be closing its Seattle headquarters and laying off employees in Ohio and Nevada.
Retail Dive recently reported that Zulily has taken legal action against Amazon, accusing the e-commerce behemoth of price fixing and pressuring third-party sellers and wholesale suppliers to artificially inflate prices on Zulily.
The company’s now defunct website had a note on Friday, stating that it was winding down faster than anticipated.
“As previously announced, Zulily, LLC, made the difficult but necessary decision to conduct an orderly wind-down of the business to maximize value for the companies’ creditors. This decision was not easy, nor was it entered into lightly. However, given the challenging business environment in which Zulily operated and the corresponding financial instability, Zulily decided to take immediate and swift action.”
Hundreds of people have expressed their anticipation for Christmas orders on Zulily’s Facebook page. According to a statement on the Zulily website, customers who have not received their orders by January 22 may have had them canceled and refunded. In such cases, customers will be required to submit a claim.
Your thoughts
Are you worried about the decline of this business? Are you afraid the United States might be moving towards a recession? Who should be held responsible for the loss of jobs? Is there anything Governor Inslee can do to minimize layoffs in Washington?
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