Seattle Company Lays Off 102 Employees in Move to Fight Bankruptcy
An online cosmetics retailer based in Seattle Julep is laying off 102 employees as it is going to shut down its local nail parlors and its Seattle headquarter. Julep’s parent company New York-based Glansaol filed for bankruptcy protection last week.
As per the official statement of the Glansaol, the Julep brand will continue selling its products online and in the retail store at Nordstrom and Ulta. The operation of the Julep will be combined with two other brands of Glansaol naming Laura Geller and Clark’s Botanicals. As the Seattle headquarters will be closed, the operation will be led from the Glansaol’s New York office.
Julep’s Seattle office will be closed in February and two months’ notice has been served to the employees. As per Glansaol’s statement, most of the workers of Julep will be given the option to work at New York’s office.
It should be reported here that Julep had four nail salons in this area. One salon at Gig Harbor closed a few years ago, and the Seattle one will be closed this month. The end of February will close the rest two salons in the University District and Bellevue.
Julep’s history-
Julep was founded in 2006 by a former Starbuck executive, Jane Park. It has become famous after launching its $19.99 per month beauty subscription package. The subscription package delivers beauty items and skincare items at home. It had opened four nail parlors around the Puget Sound region.
The subscription of beauty products attracted the ire of the then Attorney General stating the package pricing was deceptive. And the company would have to pay $3 million for this, the Attorney General’s office said.
Later, there was a settlement where the term ‘deceptive pricing’ was removed.
Julep was taken over by Glansaol, and before that takeover, it had raised $68 million from Seattle investors including the mighty Madrona Venture Group and Maveron in 2016.
With the parent company Glansaol filing bankruptcy, it has now planned to sell most of Julep’s assets to AS Beauty. But, the company has confirmed that Julep would be in business.
