Thirty-One Gifts announced it is closing. In a video statement made to representatives yesterday, Founder Cindy Monroe informed field leaders that the company would be closing. The official end date is expected to be effective before the end of 2024.
Thirty-One Gifts was launched by Cindy Monroe in 2003, selling primarily personalized bags, gifts and home décor. In a 2019 Direct Selling News interview, Cindy described the purpose of her venture as helping women: “I wanted to give women an opportunity to earn extra income while being able to stay at home with their children or have a second income with a flexible schedule.”
In 2020, Kanbrick, the investment firm led by Tracy Britt Cool, former key deputy to Warren Buffett at Berkshire Hathaway Inc., became a partner and owner of the company.
Thirty-One Gifts’ closure is part of a larger pattern of companies exiting or modifying their direct selling model, and follows the announcement of a number of other direct selling companies with multi-level structures switching to single-level or affiliate models in the last six months, including BODi, Seint and Rodan + Fields, as well as the closure of Beautycounter in April.
