Early Black Friday sales are adding to a year marked by heavy discounting in what’s sure to lead to long-term brand headaches.
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Sophia Amoruso’s Trust Fund, whose backers include Marc Andreessen and Paris Hilton, has so far invested in seven companies, some of which have some useful applications for fashion and retail.
Market share gains and progress have been noted. A full revitalization of the brand “is going to take time,” said Gap Inc. President and CEO Richard Dickson.
The Newport Beach brand has promised its “biggest online sale ever” beginning Tuesday as it seeks to clear through inventory.
Can such a mentality work for the surf industry in a world where fashion and retail are truly global?
“Aspirational luxury consumers who were flush with cash 18 months ago, just don’t have the same capacity to spend in the current environment,” said co-CEO and co-founder Mike Karanikolas.
Sources say the L.A. retailer’s iconic Melrose door is also slated for closure this year under parent Sazaby League Ltd.
Scaling distribution is the big emphasis of the two fast-fashion powerhouses’ partnership, but what to do about brand differentiation? That’s less certain.
Some look to former Mattel President and COO Richard Dickson to produce Barbie-sized successes for Gap Inc. Thursday’s earnings call did little to offer visibility on what’s in store for the company.
“We find it unacceptable; it needs to be addressed.”