The Gilt Groupe announced today that it's rolling back "some of its unprofitable businesses," including the high-end grocery Gilt Taste, which launched last year with Ruth Reichl as its editorial adviser. All Things D reports that Gilt Taste won't be going away completely, as its grocery component will shift to focus mostly on "seasonality and holidays, as well as wine and champagne."
As for the editorial side, Riechl is staying on as "a consultant," but editorial will be reduced. Per Gilt President Andy Page, that whole concept of "editorial content works well for Jetsetter, the company's travel division, but it did not lead to more sales on Taste." According to All Things D, Gilt Groupe is undertaking this restructuring — shuttering its menswear site Park & Bond, too — as it plans to file for a public offering next year.
· Exclusive: Gilt Groupe to Shutter Park & Bond, Cut Back on Groceries [All Things D via Racked]
· All Gilt Taste Coverage on Eater [-E-]