Forget fast or slow fashion, now it's ground to a halt.
) said they had stashed away unsold basics, with the aim to offer them to shoppers next year instead.“This is not like wine that gets better with age. Your inventory gets worse,” said Emanuel Chirico, chief executive of PVH Corp, which owns Calvin Klein and Tommy Hilfiger, on a recent earnings call.
In-store discounts are usually a better option as dumping inventory in bulk to off-price players returns just pennies on the dollar for the retailers. “Some of our customers are waiting for retail to open up to gauge their performance before they make a commitment on how much stock they want to write off,” he said, referring to both selling at discount in-store and offloading to off-price.Potentially more lucrative is moving merchandise to online re-sale marketplaces that take a commission on sales, although that option is largely only open for high-end brands.
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