Roger Hardy, who in February sold web-only eyewear company Coastal Contacts for $385.7 million, will consolidate OnlineShoes.com and ShoeMe.ca.
The web retailer will become a full-priced online retailer of fragrances.
Live Current Media Inc. is overhauling Perfume.com to make it a U.S. e-commerce company and a full-priced online retailer of fragrances.
Live Current Media says that it will shift Perfume.com from a Canadian subsidiary—Domain Holdings Inc.—to Perfume.com Inc., a new U.S. company headquartered in Delaware. The transaction, which Live Current Media funded by an interest-free note between the companies, will help to better establish Perfume.com as U.S. online retailer and streamline operations.
“This structure puts the assets and the business activities of Perfume.com into a company in the jurisdiction where the company generates 92% of its revenue and where the company keeps its inventory, and eliminates the cross-border issues experienced with the old structure,” says Live Current Media.
In order to attract and retain more suppliers, Perfume.com will also reposition itself as a full-priced online retailer of fragrances. “Perfume.com Inc. is being registered as a vendor by several prominent brands, allowing the company access to both the latest new products and the ‘hard to get’ classics,” says Live Current Media. “The company has started placing orders in anticipation of the key holiday season.”
Live Current Media says selling at full retail price rather than at steep discounts will help to attract more prestigious brand name manufacturers. “This ability is unique among e-commerce sites as the major brands have not traditionally sold through the Internet channel,” the company says. “Brands typically will not sell to ‘discount’ sites but have agreed to sell to Perfume.com based on the new prestige and luxury positioning of the site and the fact that perfume.com is selling fragrances at full retail price.”
Perfume.com says it is now working directly with such brands as Elizabeth Arden and Oscar de la Renta.