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 Failed Twice! Closed finally!
Written by Ricky Wallace from Hong Kong on 9/8/2001
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| Icon's previous name is actually the failed dotcom "looks.com", now Icon is trying to combine the virtual with the real world retail chain, but it went bankrupted again. The realisable surplus available for preferential claims - or recoupable money that may be paid out to some creditors - is estimated at HK$4.15 million, before liquidation and other costs. I really don't know what works now for on-line shopping!!! May be SaSa.com is next!!!
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Wrong timing and wrong model!
Written by Dillion Ellis from Hong Kong on 3/16/2001
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| Why would someone setup another failure B2C cosmetic model? This business model has been proved NOT WORKING both in US and locally. looks.com's failure is not because they don't have a physical shop, it's because people in Asia still haven't accept the way to shop on-line, especially for cosmetic stuff. Look at Tokyo, Hong Kong, girls prefer to go to department store and try out new products, how can they do this on-line? |
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Step behind looks.com
Written by Salami from Hong Kong on 3/15/2001
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| I still remember looks.com started with high sprits, and aiming for IPO, but it's finally ended up selling to an traditional cosmetic store after the dotcom burst! Icon is not a virtual one, I think it's combining bricks and mortar. I am sure their management will learned the failure story from B2C models and they will avoid the same mistake. I wish them every success in the future. |
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