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Party Is Over At Asprey

Discussion in 'Classic Menswear' started by heavyd, Mar 17, 2006.

  1. chorse123

    chorse123 Senior member

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    For those who know more than me about retail (admittedly very little), what will happen to Asprey's current stock? And what about the stuff left at the end of the sample sale? Any guesses?
     
  2. whoopee

    whoopee Senior member

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    The Asprey name is, while pretigious, not very well-known to many label whores who keep luxe houses afloat these days. Plus, their clothing, while of great quality, was, IMO, cut way too easy.
     
  3. von Rothbart

    von Rothbart Senior member

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    According to reports, Asprey won't close the NY flagship until September, so I guess the liquidation sale will start in July at the flagship and whatever leftover will move to sample sale after the store closed.

    The space is too big, too overwhelming. I feel like I walk into an empty MoMA. Asprey is catered to the carriage trade and 5th Ave. is more suited for mainstream luxury brands like LV, Gucci.... After less than 3 years, an expensive renovation, $1M a month in rent and $25M just to break the lease, the loss from the space alone will be over $100M.

    Asprey should have bought & renovated a townhouse somewhere along Madison (think Hermes).

    Kiton spent only $25-26M in buying and renovating its townhouse. God forbid, if Kiton failed (bite my tongue) and had to pack up and leave, it could sell its townhouse and recoup some of the losses.
     
  4. chorse123

    chorse123 Senior member

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    Thanks, von R. Very interesting.
     
  5. zjpj83

    zjpj83 Senior member

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    I think it's a shame.

    I also think that their "Asprey cut" diamond is absolutely gorgeous.
     
  6. LabelKing

    LabelKing Senior member

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    Asprey seems to have had problems in recent years, with their collaboration with Garrard dissolved, etc.
     
  7. zjpj83

    zjpj83 Senior member

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    Asprey seems to have had problems in recent years, with their collaboration with Garrard dissolved, etc.
    Well, as much as I hate to say it, a lot of trouble originated in the Ferrari partnership. Of course, the owner before the current one was the Sultan of Brunei, who was obsessed with Ferrari. They entered into a partnership under which Asprey was a major F1 sponsor, and Asprey also produced a bunch of branded items (such as cufflinks - and I truly wish I could find some at reasonable prices today...) In any event, the partnership existed when Asprey was owned the Sultan of Brunei - or Prince Jefri - and he, among other things, wanted a Formula 1 race in Brunei, so that was another driving force. But, from what I hear, the sponsorship cost Asprey more per year than their entire revenue.
    I think Asprey is now owned by Lawrence Stroll, another gigantic Ferrari nut and Ex- Tommy Hilfiger investor.
     
  8. LabelKing

    LabelKing Senior member

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    Somehow Ferrari and Asprey don't particularly correlate in terms of aesthetic.

    If it were Bentley or Austin or even Alfa Romeo, it seems a better match.
     
  9. Augusto86

    Augusto86 Senior member

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    Wouldn't that imply three stores take its place?
     
  10. bengal-stripe

    bengal-stripe Senior member Dubiously Honored

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    Asprey seems to have had problems in recent years, with their collaboration with Garrard dissolved, etc.
    I don't think that's quite correct. The firm Asprey & Garrard has been de-merged, with Asprey here and Garrard there, but they still have the same parent company AG Holding (or so).
     

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