Sorry Antonio— this image is too good, I had to borrow it. The irony is incredible– “Live Beyond Your Means” on the window of a store that went under. Says a lot about the retail climate we’re experiencing.
There’s a lot of reactionary “strategy” in motion right now by apparel retailers & wholesalers who are desperately trying to stop the bleeding. Slash prices, cut inventory levels, homogenize the product, reduce the workforce, cut expenses, close stores– but what’s the long term answer? The industry is facing unprecedented times– but this didn’t happen overnight, and we only have ourselves to blame. The industry is finally paying the price for years of over-saturating the retail landscape with too many stores, an excess of irrelevant “me too” brands & products, and in many cases– undeservedly fat markups.
“The consumer is so well-informed today, they don’t want to be told how to buy and they feel conned and manipulated by big flagship stores, and by the disproportionate margins the brands are making,” Inacio Ribeiro said. “However, the consumer will welcome suggestions, and that is the way forward.”
Fashion’s reliance on ever-lower prices failed last fall, as sale signs shouting 60, 70 and 80 percent off attested. Value is making a comeback across the price spectrum. –WWD
In short– we got fat, lazy & greedy, as the consumer became more sophisticated and savvy. Now they are deciding with lethal force who will survive and who will die– and quite honestly, a lot of us deserve to die.
The Selvedge Yard 