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What They Sell at Daffy's -- New Blog on Daffy's Menswear

Discussion in 'Classic Menswear' started by Peurist, Feb 13, 2011.

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  1. lee_44106

    lee_44106 Well-Known Member

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    Poor Daffy's.

    I always get a good laugh out of the name.

    It was a good run and experience with the crazy cheap Incotex/Mabitex a few years back.
     
  2. mfadam

    mfadam Well-Known Member

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    I don't understand how this happened. If you read this Crains piece from almost 2 years ago, they talk about the company's low debt situation.
    http://www.crainsnewyork.com/article/20101128/SUB/311289971

    How do they go from little leverage to enough leverage to put them under in less than 2 years? As far as I can see the only expansion was that 44th Street Times Square store? Maybe others know more about their financials but it doesn't sound like they are a debt bloated company that got stuck in lean years...

    Thoughts?
     
  3. musicguy

    musicguy Well-Known Member

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    :( the end of an ERA. Wow... that sucks. Well, now I don't miss Philly anymore.
     
  4. Peurist

    Peurist Well-Known Member

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    There have been two store openings in the last few years -- one in Times Square, another in the Bronx at co-op city. The thing is they added those two stores, and revenue stayed the same, but of course, expenses went up. There are a lot of additional problems and a lot of other issues that the company has faced in the past few years, but it would take me an hour to go over everything.
     
  5. Brianpore

    Brianpore Well-Known Member

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    To be honest...we just need to find out where all the Incotex will be going from now on. Anyone have any clues.
     
  6. jrd617

    jrd617 Well-Known Member

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    This is why we don't spend an inordinate time promoting a discount store with a fanboy blog. :nodding:
     
  7. ThinkDerm

    ThinkDerm Well-Known Member

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    Not cool of you. :(
     
  8. jrd617

    jrd617 Well-Known Member

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    No hate intended. Just tough love.
     
  9. plei89

    plei89 Well-Known Member

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    I think the company could survive if it had a better buyer (better inventory) and rebranded it's image...
     
  10. Peurist

    Peurist Well-Known Member

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    Ha. There are a lot of Daffy's-only brands being lost w/the closing of the chain (Mastai Feretti/Truzzi, Del Siena, Gazzarrini, Jey Cole Man...). Unless the men's buyer winds up at a place like Century 21, I foresee a lot of these brands disappearing from the States for a while, though, Incotex will still be available elsewhere, just not at Daffy's prices. I will touch base w/some of my connections and see if they know where that buyer is headed. If not, I am thinking about putting together an online closeout shop of my own w/Euro-closeouts, though don't envision having the capability to handle that kind of volume from the get-go.
     
    Last edited: Jul 14, 2012
  11. mfadam

    mfadam Well-Known Member

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    Daffys has a ton of great shirts/other items that generally don't wind up on B&S. For the local shoppers who know what's what, Daffys will be a big loss. B&S regulars better get used to a lot less incotex and what is around will be more expensive.

    I'm still hoping that maybe a buyer will come in, but that time may have already come and gone. I do feel badly for their employees as they had a lot of nice people. Sorry, yoox and gilt just don't come close to Daffys imho...
     
  12. Ebonyman

    Ebonyman Well-Known Member

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    Agreed. This is sad news. I've become familiar with a lot of Daffy's employees through the years and I'm saddened that the will soon be unemployed.

    As much as I'll miss the great clothing deals and there have been too many to even begin to list, I'm far more concerned about the ability of some of these nice folks to find alternative employment.
     
  13. FlaneurNYC

    FlaneurNYC Well-Known Member

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    Wow! This truly is sad news. I fee l badly for all the SA's I've become chummy with.
     
  14. davesmith

    davesmith Well-Known Member

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    That really sucks... I seems like it is pretty sudden to me, Daffy's has been plodding along and doing the same stuff for a while now, no big CLOSING DOWN sale signs but what do I know.

    Someone get in there and buy all their stuff & contacts really cheap and revive the B&S.
     
  15. theyare

    theyare Well-Known Member

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    Looks like it's official.

    By Sapna Maheshwari
    July 16 (Bloomberg) -- Daffy’s Inc., a 19-store chain that sells discount designer brands in the U.S. Northeast, said it will shutter its business in the next few months, citing an uncertain economy and weak consumer spending.
    “The process will entail the gradual closing of Daffy’s stores and the liquidation of its merchandise,” Michael McMullan, a spokesman, wrote in an e-mailed statement today.

    Daffy’s, which doesn’t have a final date for the closure of the business, will continue to employ its associates and give them pay and benefits for at least 60 days, McMullan said.
    Daffy’s has about 1,300 employees.

    The announcement comes after Syms Corp. and its Filene’s Basement LLC affiliate filed for bankruptcy in November. The clothing chains faced a drop in consumer spending amid increased competition, a proliferation of private-label discount chains and a decline in buying opportunities.

    Daffy’s traces its roots to 1961 when Irving Shulman opened a store called Daffy Dan’s Bargain Town in Elizabeth, New Jersey, according to the company’s website. The retailer has locations in New York, New Jersey and Philadelphia.
     
    Last edited: Jul 16, 2012
  16. davesmith

    davesmith Well-Known Member

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    Century 21 is still going strong?? [​IMG]
     
  17. kmdsimpson

    kmdsimpson Well-Known Member

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    My guess is that that's the biggest factor in their decline. Too many online flash sales and huge clearance sites competing for merchandise.
     
  18. cioni2k

    cioni2k Well-Known Member

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    Thought I'd see what was up at the Herald Square store considering the closing. No signs or notice of a liquidation sale. Same old garbage as of late. Absolutely no good pants, shirts, suits, ties, etc. All no name junk. I did see some decent pairs of Bass bucks and J&M Desert Boots but nothing that would make me need to buy. That looks like the end of it for me. Bye Daffys, thanks for the two successful Mabitex runs!
     
  19. thegreatgatsby

    thegreatgatsby Well-Known Member

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    There are a few people who don't quite grasp how amazing Daffy's is (and it's about more than pants).

    Not all Daffy's locations are (or were) created equal.

    If you're in NYC then you have your pick of about 10 stores that are well stocked twice a year (now is one of those times).

    Their leather jacket selection is phenomenal. Their blazer choices are second to none at this price point.

    Once you weed out 5 or 6 weak brands, the stock is top quality.

    The labels were not household names in America, but labels like Messagerie are now relatively common at Daffy's.

    (And if you read Italian Vogue or Italian GQ - you will notice 2 or 3 Daffy's "alleged house brands" that are actually top brands in Italy).

    The SYMS idea of "the best consumer is an educated consumer" applies splendidly to Daffy's as most clothing customers just did not know what they were letting slip through their fingers.

    I do think that Daffy's was (perhaps) the most overlooked value by styleforum members, and, more to the point, I am no fanboy of Daffy's --- I am sad that the chance to buy some of the best off-the-rack that Italy has to offer (but least known) --- at such great prices --- has come to an end.

    As a post-script:

    I have purchased a hell of a lot from Daffy's in the recent past (especially knowing of their demise early on), but my favorite find came last week:

    A 100% handmade Antichi Telia 1894 cream linen safari jacket (with detachable belt), complete with bemberg lining.

    It was $70, and it retails for $850

    Take that, Daffy's haters...
     
  20. ThinkDerm

    ThinkDerm Well-Known Member

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    Photos please.
     

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