Discussions about the fashion industry thread

[Sartorium]

Honestly, feel terrible for the small business stakeholders, but from an ecosystem perspective a good clearing fire will probably benefit the whole, especially if landlords struggle to fill spots in the interim and some rents come down as a result. Not just NYC but metropolitan cities broadly speaking, IME.

The other option is a bunch of hedge funds buy up commercial real estate and refuse to budge, but I think eventually the result of that will be migrations to new parts of the country and revitalization while the hedge funds eat it.

 

[King Calder]

Rent the Runway to close all its stores permanently.

The Latest on RTR Stores - The Shift

Read the latest on our decision to close our retail store locations to focus on expanding our RTR Drop-off Box network.

rtrshift.com

 

[Zamb]

Rent the Runway to close all its stores permanently.

The Latest on RTR Stores - The Shift

Read the latest on our decision to close our retail store locations to focus on expanding our RTR Drop-off Box network.

rtrshift.com

Good riddance.....
Businesses like these were a part of the Problem to begin with.

 

[clee1982]

What’s wrong with rent a runway, thought it’s better than buying stuff then never wear again?

 

[Zamb]

What’s wrong with rent a runway, thought it’s better than buying stuff then never wear again?

Yes but my focus is not about two bad things and which one is better than the other. There are numerous problems and business models that are killing fashion and this is one of them.
I am am firm believer in several things

1. designer clothes needs to be about 25 to 30% cheaper at retail
2. people need to actually BUY clothing and rental should be as it were, like Tuxedo, wedding dresses etc that are hardly used
3. there needs to be less sales and good reasons for them, like items that are not selling etc.
the changes that are going to create a healthier industry are going to be very hard to implement, but for years it has been a race to the bottom and its time to fix or at least create a healthier industry

 

[clee1982]

Yea, I guess rent a runway is walking with the “existing system”.

I see lots of bankruptcy then it’s going to change to I have no idea what.

not sure if 20-30% cheaper is really making a difference though, like isn’t that basically the retail price if you just wait for the first family and friends sale...

 

[Zamb]

Yea, I guess rent a runway is walking with the “existing system”.

I see lots of bankruptcy then it’s going to change to I have no idea what.

not sure if 20-30% cheaper is really making a difference though, like isn’t that basically the retail price if you just wait for the first family and friends sale...

there are bankruptcies left and right, and more to come, the whole thing is painful to watch.
the truth of the matter is that for a long time a lot of large companies adopted a model that was unsustainable. many big stores were basically funded on credit and not necessarily the revenues they made from sales of products.
then another set went public and sold shares, and so the selling of shares be4came more important than making great products people actually wanted to buy. the common (but risky) logic was to assume that if bankruptcy came, the brand name was too string and too valuable to not find a buyer.........which is kinda what happened with barneys.

I understand that brands and stores have to woo customers, but too much bells and whistles have led to ridiculous prices, crazy sales (of which I myself have been guilty of and trying to change now).

right now New York is a ghost town, with big stores deciding not to reopen and a lot of small ones struggling.

 

[Zamb]

I sincerely hope this guy is wrong

New York City is ‘dead forever,’ according to this proud New Yorker

Will the city that never sleeps ever wake up? Not according to James Altucher, a best-selling author and former hedge fund manager, who says that New York...

www.marketwatch.com

 

[dieworkwear]

I sincerely hope this guy is wrong

New York City is ‘dead forever,’ according to this proud New Yorker

Will the city that never sleeps ever wake up? Not according to James Altucher, a best-selling author and former hedge fund manager, who says that New York...

www.marketwatch.com

That post is so bad, but I'm jealous of how stupendously bad posts go viral. I have a huge archive of brain-dead dumb posts and idiotic opinions. Not a single one has gone viral

 

[bry2000]

I sincerely hope this guy is wrong

New York City is ‘dead forever,’ according to this proud New Yorker

Will the city that never sleeps ever wake up? Not according to James Altucher, a best-selling author and former hedge fund manager, who says that New York...

www.marketwatch.com

I mean, if we are going to live with the pandemic until the end of time, he might have a point. But if we are not, then I strongly disagree.

 

[mmmargeologist]

Martin Margiela: In His Own Words movie review (2020) | Roger Ebert

Apart from its ample eye candy, the film deftly illustrates how one can live a life of integrity in any profession, provided one has the guts to break the mold.

www.rogerebert.com

 

[London]

I mean, if we are going to live with the pandemic until the end of time, he might have a point. But if we are not, then I strongly disagree.

This one in a long time history of NYC being written off. The city will come back better than before.

 

[clee1982]

yup, I think the city will come back too, but how long it takes to come back is a bit unknown...

 

[sushijerk]

I love how in most of these nyc exodus interviews people brag about how old school new york they are then their reason for moving is because they suddenly saw one guy on drugs at their uws Duane Reade.

 

[Mariokartfever]

yup, I think the city will come back too, but how long it takes to come back is a bit unknown...

My exact sentiment. Could be back to "normal" in two years, or it could be twenty. If we're entering into another 70s/80s NYC era things are going to get much worse before they get better.

FWIW, subway ridership peaked in 2012. Anyone who has been a commuter for the last few years knows that things have been getting worse on the subway in spite of the fact that ridership has been in a steady decline.

As millennials have more kids they are looking for space and community - something that gen X was able to get in gentrifying NYC in neighborhoods like Park Slope. But that process has sort of already happened... the neighborhoods with convenient subway lines and safer streets have largely priced out first time buyers. I have coworkers who considered buying a brownstone in Williamsburg for $300k in 2005... it costs 10x that now.

This math not adding up for people in their late 20s/early 30s is something I discussed a lot with friends before covid and the BLM riots. With these new challenges in place and the current leadership of NYC looking very weak, the cities future for the next few years looks grim.