G&G Trunk show; We know, worst possible timing, but

[Omega Man]

Originally Posted by lee_44106

I like the G&G styling, and I hope the venture continues to thrive.

But let's face it, times are difficult now, people are losing savings and houses and jobs. Shoes, especially shoes in the price range of G&G, fall into discretionary income.

Whereas bigger outfits like Lobb or C&J may be able to weather the bad times, smaller business like G&G may not.

+1. With the massive layoffs coming from Wall Street and a dimmer outlook for the US economy, people have already started to tighten their belts.
Many will focus their spending on staples rather than on luxuries..... they may even consider resoling the shoes instead of buying a new pair! Those who are buying luxuries now are probably on the verge of their last spending "spree". I also tend to think they want their dollar to stretch a bit more.

From Masaichi's first post, I sensed G&G is experiencing a significant drop in business. In the past, posts like these (i.e. trunk shows) usually generated a lot of excitement and intrigue. I don't think it is the case anymore.
I like G&G, they are different. I was able to take advantage of their summer sales (a first for them).

I sincerely hope Tony and Dean will be able to weather this downturn (also a first for them as a business).

 

[zjpj83]

Originally Posted by Golf_Nerd

With all I read they sold around the world. If only 90% paid their shoe bills they can buy an island, a plane and retire!

Other shoe companies built up their business and staff for decades. G&G was up not long ago and have earned alot of moeny! So I don't get the "...continue to do business otherwise we won't survive"-blabla. Are there any other companies which sell multicolour shoes for thousands??

There's a reason why "revenues" and "profits" are not synonymous.

 

[mussel]

I suspect Golf Nerd is a troll.

 

[whacked]

Originally Posted by Golf_Nerd

With all I read they sold around the world. If only 90% paid their shoe bills they can buy an island, a plane and retire!

Other shoe companies built up their business and staff for decades. G&G was up not long ago and have earned alot of moeny! So I don't get the "...continue to do business otherwise we won't survive"-blabla. Are there any other companies which sell multicolour shoes for thousands??

Are you their accountant?

 

[speedster.8]

Originally Posted by mussel

I suspect Golf Nerd is a troll.
Na just cranky

 

[stilmacher]

This is a weird thread. If my interpretation of the original post is correct all you G&G nerds should gather your last 1000 USD before they will only buy you a loaf of bread and run and get a pair of G&G shoes before they go out of business.

 

[aportnoy]

It's not just G&G fellas.

I'm getting love notes from my sales associates from Bergdorfs. Barneys, Korshak, Saks and Polo. This going to be a hellish fall season and holiday sales are, IMHO, going to be abysmal.

The resulting blow-out markdowns should be great, but everyone is getting hurt, not just the small guys like G&G.

 

[fritzl]

Originally Posted by speedster.8

Ya just a cranky troll.

F...d

 

[grimslade]

Originally Posted by aportnoy

It's not just G&G fellas.

I'm getting love notes from my sales associates from Bergdorfs. Barneys, Korshak, Saks and Polo. This going to be a hellish fall season and holiday sales are, IMHO, going to be abysmal.

The resulting blow-out markdowns should be great, but everyone is getting hurt, not just the small guys like G&G.

So there's a bright side to this mess after all! Feeding frenzies, here we come!

 

[fredfred]

High end home (& condo) sales are up. The TOP END of the wealth spectrum (only a very small portion of which is on Wall Street) is NOT the people who are losing their homes.

It's the people who had BAD CREDIT (subprime) who shouldn't have been allowed to take out a loan... they would NOT have been able to prior to the lending rules being changed. Trust me... I live in the data. The default rate is highest in Mexican neighborhoods of California, etc., where loans were given when they should not have been. Now we are all paying for it.

But will this affect the affluent that drop $500 on shoes?

I doubt it.

 

[voxsartoria]

Originally Posted by fredfred

But will this affect the affluent that drop $500 on shoes?


In this thread, that gets the affluent either a left or right shoe, but not both.


- B

 

[aportnoy]

Originally Posted by voxsartoria

In this thread, that gets the affluent either a left or right shoe, but not both.


- B

And only 1/4 shoe if were taking bespoke.

 

[sartort]

I agree though that the tone of the first post was somewhat dire. In one sense, you could take it to mean hey everybody's gotta eat so we're still coming to NYC to go about our business as usual. But the sense I gathered was we gotta eat (and eat soon), so we are coming to NYC to see if we can strike up any business as desperate as the attempt might be. Are things really that bad?

Even though I do not own any G&G shoes as of yet, I hope that G&G can survive.

Maybe we all reading too much into it. I certainly hope so.


Like Grim mentioned this all means there will be some feeding frenzies. I am anxiously awaiting the sales post Christmas. I can taste the deals.

 

[rach2jlc]

No doubt the financial situation is impacting ALL luxury markets, but as I read it, the situation is perhaps less DIRE than simply being very respectful to members here.

To me, it reads as a very Japanese way of doing business; when your perceived client is in a tough state, you certainly don't want to say, "Hey, fellas, look at my new shoes! If you buy now, I'll throw in shoelaces, a tote bag, and orange juicers. Get 'em while they are hot!!!" Instead, the respectful thing to say, rather ambiguously, is that you realize the situation is tough, but that 1) you are still in business and are willing to accommodate clients and 2) any industry feels the pinch, but business must continue.

So, I'd say we don't need to be worrying too much about G&G just yet... but instead we can rest assured that Masaichi-san is a very honorable and respectful dealer.

For example, if I'm going to ask one of my Japanese colleagues to help me with a project, I don't start off by saying, "Hey, check out my cool project. Wanna sign up?" Instead, I usually start with an apology for bothering them and acknowledging that they must be busy with their own projects, BUT...

 

[sartort]

You are probably right. Now I feel like a dumb American.