Kit and Ace DC Stores Close

WASHINGTON, DC — Kit and Ace — the high-end athleisure store started by Lululemon founder and ex-CEO — is closing all of it's 32 U.S. stores, according to Racked. This includes the two DC locations on M Street and 8th Street.

Kit and Ace launched in 2014 in Vancouver, Canada, and specializes in technical cashmere and luxury athleisure clothing meant for people to wear in and outside of the gym. Chip Wilson owns the business with his family, and said they now plan to focus on their online marketplace and their Canadian stores.

Prices for the clothing range from $88 for T-shirts and scarfs to $148 for men’s pants and $168 for dresses, according to the company’s website. A spring looks section online promotes the retailer’s Technical Cashmere, which it says can be washed and is cool enough for warm weather.

See Related: New Clothing Store Coming to M Street

“We recognize the traditional world of bricks and mortar retailing is changing, which is why we’re shifting strategies,” Wilson said in a statement. “We believe in the business model for Kit and Ace. Going forward, we will be a stronger company. Fewer stores require fewer people. We remain deeply grateful for the creativity and commitment of those leaving the company and thank them for their valuable contribution.”

According to Racked, Kit and Ace has had problems for a while now. They closed a quarter of their stores in September, changed CEOs and laid off about 20 percent of the employees working at the Vancouver offices.

Wilson said he's planning to rebrand the company and wants to focus less on technical cashmere and more on mind, body and health tactics like holding meditation classes in the stores.

The M Street, 8th Street and Bethesda Row storefronts are now permanently closed.

See the full Racked post here.