The malls and shopping centers of America are littered with the ghosts of fashion retailers that once ran a thriving business–Fashion Bug, Cache, Casual Corner. Whether it was ecommerce, larger competition, a recession or the failure to embrace a new technology or fashion trend, they found themselves unable to adapt.
The latest trend in retail is already foisting similar change and disruption on retailers and most aren’t ready for it. According to RIS News, more than 20 major brands have either declared bankruptcy or liquidated so far in 2015.
Teen retailers Delia’s and Deb who recently filed bankruptcy, struggled with offering products that identified with today’s fast-fashion marketplace. Gap, the iconic t-shirt and jeans behemoth, announced the closure of 175 stores. Cache, who WSJ reports hasn’t turned a profit since 2011 filed for bankruptcy, closing 21 of their stores this year. For these retailers and those akin, the stories are comparable.
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