Simultaneously expanding US stores and launching womenswear damaged Suitsupply's growth momentum
Fokke de Jong · Suitsupply: Fokke de Jong · May 1, 2023 · at 1:07:25
Fokke de Jong, founder and CEO of Suitsupply, reflects on how having excess cash led to overexpansion and operational friction.
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“We did a year when we opened I think, We have 10 or 12 stores in the U.S. When we only had 10 or 12, then, you know, at the same point, we started, you know, figuring out and opening a women's line, and it was few women's stores, and we did too much. And instead of gaining a lot of momentum and gaining scale, what happens is that your execution starts to suffer, your momentum starts to slow, and this big snowball that was rolling out of the mountain and accumulating a lot of that stops.”
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