The Gents Pack has announced its closure two years after its launch.
The start-up offers a monthly subscription service that includes underwear, socks and grooming products. It launched in 2014 but has announced that it will ship its last box on 15 August this year.
James Fletcher, Founder at The Gents Pack, said that “uncertainty in the British economy” was behind the closure. He said that fluctuations in the value of the pound had means that importing goods is no longer “predictable, profitable or feasible” for the company.
Fletcher said: “To continue to develop a luxurious experience at a good cost price has been a tough challenge and a huge learning curve for both the team and I. Sleepless nights, stressful shipping days, and even the odd late package are all factors that have contributed to our decision.”
The company also said that it believes that retail is “one of the toughest markets to launch in” thanks to increasing cost-per-acquisition and consumer pressure to lower prices.
The Gents Pack has previously been listed in The Independent as one of the “Eight best subscription boxes for men” and has featured in The Gay Times on multiple occasions.
Consumers can shop on the company’s website until 31 August.
Fletcher added: “I would like to thank all of our customers and suppliers, as well as those working in the media that have supported us over the duration. A special thank you goes to the entire Gents Pack team for their hard work and dedication.”
