(Source: fastcompany, copyright belongs to the original author)
Just yesterday, the once-fashion giant Express, which went bankrupt, filed for bankruptcy protection in Delaware.
At the same time, express announced that it will gradually close 95 express stores in the United States, as well as all UpWest stores.
01
Tears of the Times!Express has fallen
(Source: CNN, the copyright belongs to the original author)
Founded in 1980, Express specializes in casual business wear, with Express, Express Factory Outlets, Bonobos and UpWest stores.
As debt and expensive mall leases dragged down business, Express's sales have plummeted over the past few years, with $1.2 billion in debt as of March this year.
Neil Saunders, Managing Director of GlobalData, said: "The formal and casual market has been softening in recent years due to the rise of remote work and the rise of casual fashion, but Express has not made a difference. ”
Express products are on the high side of the price, lack of variety, and difficult to attract consumers, and bankruptcy seems inevitable.
(Source: Reuters, copyright belongs to the original author)
The team leader vaguely remembers that when he first came to the United States many years ago, Express was still a small trendy brand in the United States, and it was on the same level as Gap, Diesel, Guess, CK... It's really embarrassing that it has come to the point of bankruptcy now.
But then again, from April 23 (that is, today), the closed express and UpWest stores will start to clear the sale, don't miss it when you pass by, you may be able to find a few good clothes at a low price~
The full list of closures is here
02
The U.S. garment industry has closed stores and laid off workers
(Source: QZ, the copyright belongs to the original author)
lululemon, which exploded in the circle at the beginning of the year with a "lingerie to save marriage", has also seen its recent revenue situation worrying.
(图源:Lululemon,版权属于原作者)
Currently, Lululemon is closing its distribution center in Washington and laying off 128 employees to relocate to Los Angeles.
Outdoor Voices, a local U.S. brand that previously benchmarked lululemon, announced last month that it would close all its stores and only retain online sales channels.
(Source: The Cut, copyright belongs to the original author)
On Friday, Nike announced plans to lay off more than 700 employees in advance of its multi-quarter cost-cutting strategy.
(Source: fox19, copyright belongs to the original author)
From J.Crew in previous years, to Ann Taylor, Ascena, the parent company of LOFT, Brooks Brothers, who was favored by former presidents, foot locker of sporting goods, and now Express...
Countless American clothing brands have gone bankrupt, and the clothes are "earthy and expensive", stagnant and have no new ideas, and it seems that they can't roll up the recent rise of fast fashion e-commerce such as SHEIN.
I wonder who will be the next to go out of business?