Luxury second-hand fashion etailer Covetique, in which Asos owned a share, has closed down after three and a half years.
- Second-hand luxury etailer Covetique has closed down
- The etailer said the level of investment to continue running the website was unsustainable
- The website was part-owned by Asos, which had a 30% stake
The etailer, which resold clothes, shoes and accessories from labels including Alexander McQueen, Burberry and Chanel, was part-owned by Asos. Its stake was understood to be 30%.
Asos said: “This venture was part of a very clear strategy of making sure we explore interesting opportunities and, whilst we are disappointed that the investment did not work out as hoped this time, we will always continue to explore newness.”
On the Covetique website a statement thanks sellers and buyers for support over the past three and a half years.
The etailer said: “It is with extreme sadness and heavy hearts that we have now closed our doors.
“Your support and custom was invaluable in achieving this. However, continuing to provide the top quality level of service that customers rightly demand involved a level of investment that became unsustainable,” it added. “So, it is with much regret and personal sadness that we have closed our doors.”