“The young luxury customer, what I refer to as new luxury, they’re purchasing things from brands that inspire them, not brands that are aspirational,” he said, adding that they’re “signaling cultural knowledge” more than wealth.
Christopher Bossola, founder of Need Supply
That Retail Dive excerpt via Christopher Bossola, the founder of US apparel retailer Need Supply, was a perspective that made Need Supply as interesting as the pieces they featured.
Need Supply’s attentiveness to customers and brands that value stories and cultural knowledge over a strict vision of aspirational wealth is a theme that should live on through us in the way we interact with each other, and brands, during and after pandemic times.
Their September closure continues to highlight a common thread in 2020, which has seen the closures and bankruptcies of fashion industry household brand names and department stores alike.
Need Supply featured inspiring brands and garments edging you to test the limits of your style as you know it. The admiration of Need Supply accompanied the creation of Luvet, and we were excited to have had the chance to work with Need Supply as one of our first affiliate partners!
Another casualty of the closure is sister company Totokaelo, whose founder Jill Wegner spoke to our hearts by stating to the New York Times …
“Our client comes to us because they want clothes they can put on with sneakers and a giant cardigan or blazer and tromp around and do life in,”
Jill Wegner, founder of Totokaelo
The companies, known collectively as NSTO, were even purchased by a favorite brand of ours, Herschel Supply Company, in 2016, and were feeling optimistic about the direction they were headed.
As uncomfortable as it is to see them go, the discomfort of this pandemic has surfaced in many industries around the world, with the economic effects unwillingly weeding their way sporadically into our lives.
Need Supply’s contribution to fashion and understanding of what you and I love about brands needs to live on. Despite the current circumstances, we will continue to keep the NSTO vision and in mind. Their perspective nudges us to be inspired by people, brands and ideas that value cultural knowledge and authenticity. These values are necessary in cultivating trust, coming together, and fashionably creating thoughtful brands.
You can read more about Need Supply’s journey below.
by Matthew Schneier
Twitter: @matthewschneier
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