Shopify aggregator OpenStore is reportedly in the midst of a reorganization in which it is shutting down more than 40 Shopify stores,liquidating remaining inventory,and focusing solely on its menswear brand Jack archer.
These changes follow a four-year period in which OpenStore acquired more than 40 Shopify storefronts offering a variety of products, CNBC reported Friday (Aug. 8).
OpenStore did not immediately reply to PYMNTS’ request for comment.
Jack Archer said in a post this month on LinkedIn that it is becoming a stand-alone brand after spending three years inside OpenStore.
“Our company culture has an amazing mixture of startup-style tech talent, experienced retail brand leaders and unicorns,” the brand said in the post. “If you’re interested in working at a brand that’s using bleeding-edge tech to change the game in men’s apparel, we are hiring across finance, marketing, product development, eCommerce and supply chain.”
The former OpenStore website address open.store now redirects to jackarcher.com.
OpenStore was valued at $50 million in a funding round that closed in recent weeks after being valued earlier at $1 billion,the CNBC report detailed.