The Iconic cuts 69 roles in shift from marketplace to platform

Online fashion marketplace The Iconic has dissolved 69 staff roles, equivalent to 6 per cent of its workforce.

All of the roles are at the head office level and some of the impacted staff may be redeployed to other parts of the business.

“Our people have been our biggest priority throughout this process,” a spokesperson for The Iconic told Inside Retail today.

“We have been acutely focussed on limiting the impact on our people as much as possible.”

The cutting of the jobs is a result of a broader restructuring program of The Iconic, which is focusing on “transforming into a platform business”. Typically, a platform connects buyers and sellers leaving fulfilment to the vendor.

“This has resulted in the rescoping of some role descriptions, streamlining some roles through role consolidation or role redeployment, and in some cases, role redundancies,” the spokesperson said.

“We are enormously grateful for the contribution that the affected individuals have made to The Iconic during their tenure and we will be supporting them with an outplacement program to help them transition into their next role or career path.”

The Sydney-headquartered pure play online retailer was launched in 2011 and boasts more than 1500 brands, including local Australian labels. It is part of the Global Fashion Group.

The company says that by transforming itself into a platform business it will continue to connect with its 2.2 million customers in Australia and New Zealand by curating local and international fashion, beauty, sport and lifestyle brands, “while facilitating flexible and scalable partnerships” with its valued brand partners.

“This includes expanding our fulfilment models with an optimised Marketplace and Fulfilled by The Iconic, and offering data-rich insight resources to our brands including Data by GFG and Marketing by GFG,” the spokesperson told Inside Retail.

This article was first published on Inside Retail.