I would’ve liked to see it to believe it.
It sounded like a novel idea and considering it came out of Harvard Business School, we hoped it would be good and true. I’m not sure what factors went into the closing of stores, but I think it would’ve been fantastic to see where the company idea could’ve gone.
Based on the designer’s thought process:
Men have had suits tailored to them for a long time, says Wallace, while women have had only work suits tailored for the past 40 to 50 years. There’s room for improvement—and maybe even greater sensitivity. What woman—or man—wants to be called “extra-extra large,” anyway?
I really feel like Quincy Apparel has been one of the brave companies to venture into the tricky field of women’s formal business wear. They offered tailored alternatives that were promised a better fit based on bra size; it sounds novel, but where did things go wrong? What can Veni Vici Apparel do to avoid it’s closing if/when we decide to open?
- Product did not deliver – they had many returns of their clothes
- Proof of future cash flows – you need to show this order to raise further funds to grow the company
- A durable team – the CEO left the team a few months because the store ultimately closed down; that’s never a good sign
- Unsustainable business model – designing custom business clothes and selling at reasonable prices makes everything difficult from scaled manufacturing to inventory management
As we develop Veni Vici, we’ll be keeping all these lessons in mind; it would be the high point of my decade if we could do for our future customers what an early Jos A. Bank did for men. Get excited ^_^