The co-founder of online furniture retailer Made.com says the business lost sight of its principle focus as it nears collapse.
Ning Li founded MADE some 12 years ago on a ‘shoestring’ budget in Notting Hill and was key in the brands growth until 2017 when stepping down as CEO.
Following the recent news of MADE’s terminated sale process and suspension of taking new orders, Ning Li shared his views over social media, labelling the situation as ‘heartbreaking’.
“The brand was my baby. It pains me to see that suddenly the lifeline of many (800!) employees and hundreds of suppliers – some of them have been with the business over a decade, is in jeopardy. I feel both powerless, having stepped down as CEO in 2017, – but also immensely frustrated as lawyers and the board has formally forbid me to even talk to any of them.
“12 years ago, my co-founders and I started a fledgling business on a shoestring in Notting Hill, with a simple idea of making high end design accessible to everyone. The idea became a £430m business in sales last year.
“The mantra was simplicity – because it meant value for our customers and cost efficiencies for the business. From where I am sitting today, I think the brand has lost sight of that focus in the recent years, – and as a result, lost its strength.
“But should there be any future for MADE.COM – I do hope and pray that there is, I think that simplicity will be the only way forward.”