After layoffs, Brit + Co to focus on direct-to-consumer biz
Brit + Co is in pivot mode. The digital media company, which made a name for itself as a lifestyle destination site for women over the course of its eight-year existence, announced layoffs and changes to its business model this week.
“It’s not news that the media industry has been challenging, especially for independent, digital publishers with advertising-centric models,” wrote founder Brit Morin, a former Ad Age 40 under 40, in a Medium post. The 33-year-old noted that while the company has purposely tried to diversify its revenue streams into e-commerce, classes and events, it is still struggling enough to downsize.
Morin, a tech veteran from Google and Apple, told Ad Age that the brand has seen a lot of return from its commerce and direct-to-consumer retail initiatives. The company “will be placing a bigger emphasis” on such areas moving forward, she says, and will announce more soon.
Brit + Co has its own line of do-it-yourself kits at Target and has a shopping section on its site. The company’s cross-network distribution generates hundreds of millions of unique users a month, according to Morin. D-to-c brands, which challenge traditional retailers by offering more value and engagement to customers, have been growing in popularity and size.
In her Medium post, Morin wrote that in the future, smaller publishers will begin to resemble direct-to-consumer brands by “brokering distribution deals with larger platforms; launching subscription services; and bolstering ad revenue with e-commerce, licensing deals and other consumer services.”
According to Recode, which first reported news of the layoffs, Brit + Co had been in talks to be acquired, but these discussions fell through. The company reportedly had around 50 employees before the layoffs. Morin declined to provide specifics.