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