Gap clothes packed away instead of discounting: what it means - Business Insider

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Gap and other stores are mothballing clothes they planned to sell this spring and summer instead of discounting, and it could fundalmentally alter the fashion ecosystem

After having all of their stores closed for months, some of the biggest apparel brands are trying out a pack-and-hold strategy.

Manny Chirico, the CEO of PVH, which owns Tommy Hilfiger and Calvin Klein, said during an earnings call on April 2 that the company would consider a similar solution. "Is that essentially an internal admission that that newness — that the need for newness — is a fabrication of the brands?" Simeon Siegel, managing director at BMO Capital Markets, said to Business Insider.

"There are plenty of smaller, less well-capitalized brands and retailers that don't have the luxury of taking product they've already paid for and saying, 'We're going to wait a year to see [if we can get] anything from it,'" he said.

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Well, when they come out next year, pay them with moths.

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