The Ledger
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Cole: The wholesale retail sector is shrinking rapidly with few growth avenues
“And the wholesale world is getting smaller right now. We're seeing a lot of, you saw what happened with Saks and Hudson Bay to your point. And I don't know if you're going to find a lot of growth opportunities in the short term”
Rent the Runway rented current-season inventory at 5-10% of retail
“You can imagine we were renting current season designer inventory for five to 10% of the price at the exact same time that it was at Nordstrom and Neiman Marcus and Saks and Net-a-Porter for sale.”
A 50-store department store rollout quadrupled Kate Spade's business
“Either Neiman's or Saks, they were buying for two or three stores, and they said, we're going to buy for all of our stores. And that was 50 stores, or more than 50 stores, and that quadrupled our business.”
Department store expansion to 50 locations quadrupled Kate Spade's business overnight
“Either Neiman's or Saks, they were buying for two or three stores, and they said, we're going to buy for all of our stores. And that was 50 stores, or more than 50 stores, and that quadrupled our business.”