Co-founder flies in amidst crisis at online retailer The Iconic Retailer The Iconic is understood to be struggling with rising overheads. Picture: Dan Himbrechts Source: News Limited THE billionaire co-founder of online retailer The Iconic has flown to Australia for crisis talks amid speculation the e-tailer is on the verge of another round of redundancies. Sources told Business Daily the media-shy Oliver Samwer was upset at the slowdown affecting the company. They say the German played a role in the decision to dump the company's multi-million dollar ad campaign fronted by YouTube phenomenon Bondi Hipsters. The Hipsters are best known for the viral hit The Life Organic, which is approaching a million views. The Iconic is understood to be struggling with rising overheads, with a recent hike in delivery charges from Australia Post cutting into its bottom line. Last week it was revealed the company - which sells local and international fashion labels from Australia - had sacked about 10 per cent of its 300-strong workforce, including from its distribution warehouse in western Sydney. The business was launched with a staff of four in October 2011.