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GILT To Close Full-Price Retail Site Park & Bond

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According to WWD, purveyors of men's clothing will have one less source to shop from come next year. In a brief statement today by online retailer GILT Groupe, the company announced that it will start to "merge" Park & Bond into its GILT Man shopping site. In the same statement, Andy Page, president of GILT Groupe said, "We understand much more today about what draws our customers to Gilt. That insight has informed our decision to focus on a single shopping destination, offering product relevant to each member."

Launched in August 2011, Park & Bond offers a great range of fashion brands and designers, often more than its GILT counterpart since it was established as a full-price site instead. It will interesting to see how this transition plays out and its effect on consumer habits.