As it turns out, you could probably have guessed as much from the lack of excitement & conversation about them over the last 12 months…but at least now the financial results make it clear how far the business has fallen from its perch
Of course, in some quarters, the fact that the product doesn't wear out is blamed for the disasterous end to the tail but the real issue is that the HERD which was responsible for the brand's explosive growth has now moved on (as it inevitably would – that's the nature of fashion).
Just like those musical one-hit wonder, lots of folk connected with the company must now be sitting, scratching their heads and wondering what they did wrong. Musos also often get confused, happy to (mistakenly) accept that success is the result of their talent and skills but not sure what to make of failure. It sure feels hollow…
Of course, those who suggest the company board made some real howler decisions also have a point but the truth is success in a fashion market often has little to do with the product or its maker…yes, it's the human stuff again, everyone!
Implication 1: be grateful for success; try to stay unfazed by failure – neither are much to do with you
Implication 2: please don't use successes of this sort as best practice guides
Implication 3: keep being interesting and carry on serving and facilitating the people stuff as much as you can
Interesting piece in the Times yesterday on similar lines