The closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
Threads Styling on Cracking the Millennial, Gen Z Code
The company sells fine jewelry and luxury products solely through messaging apps and is eyeing the North American market.

Shopping in the Time of COVID-19
No retail business is immune to the effects of the global pandemic shutdown, but Threads is able to navigate it better than most.
“It definitely has impacted the business,” Quy noted. “We’re lucky because the client journey hasn’t been impacted.”
Ordinarily, Threads shoots its social media content in its three in-house studios in the London office, but with its teams working from home they’ve had to get creative.
“One of the first things we did was to ask our clients and our community on social media what content they wanted to see when we all suddenly found ourselves at home,” Quy said.
The answer was content that is “more authentic, a little bit more raw.”
“Our stylists and shoppers are already used to making content and sending it to their clients,” U.S. President Virk said, “so we were able to transition our content to follow that format.”
Threads has its eye on new markets, catering to a growing Asian clientele, who are already comfortable with shopping via chat courtesy of Chinese app WeChat that acts as a social feed, messenger and payment app all in one and that boasts more than 1 billion users.
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