Gilt is shutting down Park & Bond, the company’s full-priced men’s apparel site. It is also cutting back on Gilt Taste, the company’s food and wine site. The announcement comes off of a series of layoffs and changes that have been announced over the past several months as Gilt is supposedly preparing itself for an IPO in 2013. Some interesting stats on their progress to date:
1. Gilt City, their daily deals business, became profitable in January after refocusing/reducing their attention on a smaller number of cities.
2. Gilt Groupe overall is expected to be profitable in Q4’12 and in Q2’13
Read more at AllThingsD