Online retailer BrandAlley has acquired a majority stake in footwear resale platform The Edit LDN.
The Edit LDN sought to find a buyer in late 2023 after running into cash flow issues during the final quarter, according to Women’s Wear Daily.
Following the acquisition by BrandAlley, The Edit LDN will be restructured through a formal process and will utilise BrandAlley’s back-end infrastructure.
The Edit LDN founder Moses Rashid, who will remain as chief executive, said: “Although 2023 was another year of positive growth and revenue, it has been a difficult period with financial challenges being accelerated by external funding sources that we had on our creditor books.
“It was crucial to act fast to find a long-term partner who sees the potential to take The Edit LDN global and offer the operational infrastructure required for sustainable growth.”
BrandAlley said the acquisition provided it with the opportunity to “tap into a more youthful customer demographic and their substantial community of engaged followers.”
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