As a young man starting out in the apparel business that is what friends would tell you, if they had a friend who had a friend. But after watching the fashion industry evolve over the past many years, I’ve come to believe that it’s time to disrupt things a bit.
Our business model has been based on selling our Collection to the best retail stores and pricing our goods accordingly. This is a difficult challenge for a start-up in a world that values the tried and true and avoids the new and different.
Here’s what I know to be true:
• Too many good stores have lost their sense of adventure and personality, devolving into worst thing possible… predictable. They carry the same brands with the same merchandise. And their point of differentiation… some sell these goods for less.
• Product knowledge is the cornerstone to building a successful and on-going business. Do folks actually know how the products they sell are manufactured? Or why one product costs a bit more than another? Or do things just “look cool” and that’s why one should buy this item?
• Quality does make a difference. It allows one to build a wardrobe, invest in stylish and tasteful merchandise and be confident that you will look great for many, many years to come.
• Predictability is the hobgoblin of the apparel and accessories business. Modern, classic, tasteful merchandise should be an inspiring vision into the future… not bound by the rules of the past. Yet it should be understandable and make one ask themselves, why didn’t I think of that?
• Overpriced is not luxury, nor are painted leather bags with a designers initials emblazoned on them. Luxury is timeless, tactile, sexy and most of all aspirational. Luxury shows up in the right places on the right people.
Who knows how the state of the “upscale” retail industry fell into their current malaise… I’m merely pointing out what is going on! Years ago the best stores earned their living because we trusted their vision, sense of style and taste and were willing to pay a little more for their talent of bringing merchandise to us which we admired. Historically retailers earned a mark-up of 50% (double the wholesale cost) or more for buying, stocking and displaying their vision to us… that’s how stores came to a retail selling price.
For us at 79 Ashley, this business model simply is not functional anymore. We know that our vachetta leather is discernibly better than other leather qualities and has been for over 1,000 years. We know that the design of our goods is modern, classic and always appropriate. And we know that our Collection is cut and sewn by hand in a wonderful factory in Worcester, MA. We also know that we constantly strive to be good citizens of the earth.
Because it has been difficult to make our voice heard we are choosing to offer our Collection to consumers directly at what are wholesale prices. It’s the only way that small artisanal and self-funded businesses like ours can gain traction. As a matter of fact, if you would like to host a 79 Ashley trunk show I will gladly visit your get together and show you our Collection for men and women.
Many years ago a brilliant fellow told me that “the best thing about the retail business is that everyday your customers vote.” If we are honest with each other, they have voted, clearly and loudly! I have always known that “disruption” can be fun and profitable… and in this case necessary.
And by the way, it’s nice to have a friend who can get it for you wholesale.
Onward and upward,
George Ackerman, Curator of Extraordinary Objects