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October 20, 2000
By: TOM BRANNA
Editor
A pioneer in the e-commerce revolution is calling it quits. Eve.com, one of the first e-commerce sites to specialize in health and beauty products, announced today taht it will cease operations, effective immediately. The company said it will lay off most of its 164 employees immediately, keeping a minimal staff of personnel to provide an orderly wind-down of operations. All orders received as of midnight on October 19 were filled and shipped if the inventory was in stock.In a statement, the company said that after a careful and thorough review of its business, industry dynamics and all available options, it was determined that fundamental industry issues related to product supply would preclude the company from achieving an acceptable level of profitable growth in cosmetics alone. In addition, the company noted that it lacked adequate capital to reach sufficient operating scale.
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