Online delivery business Urbanfetch.com said yesterday it will no longer deliver goods to consumers in New York and will cease operations altogether in London. Instead, Urbanfetch will concentrate on its more profitable business-to-business delivery service in New York.
Urbanfetch Express, the company's 6-month-old BTB service, generates more revenue than its London and New York consumer businesses combined.
Consumer operations in New York will stay in business for several more weeks as the company liquidates inventory.
This week Amazon.com-backed Kozmo.com, Urbanfetch's main rival, broke off merger talks with Urbanfetch.