Lean Luxe has learned that landlords, while they search for long term tenants, are warming up to short term leases with smaller modern luxury brands who’ve been scrappy enough to pitch them on these spaces.
Wilson has been forthcoming on Kit and Ace’s missteps in a PR push aimed to both raise his profile and build momentum for the debut of his new clothing brand arriving this fall.
Having just shuttered 36 out of 45 total stores last week, Kit and Ace’s aim of opening 95 global stores by 2019 (and taking out $300M in debt to do so) is over. This is just the latest in a consistent series of embarrassing missteps since early 2016. (837 words)
After scaling back its unicorn ambitions, we wouldn’t be surprised if this new direction at Kit and Ace is a direct result of Chip taking over as CEO in September. (813 words)
The activewear brand is shutting down many of its stores, has ousted co-founder JJ Wilson, and is laying off 56 employees. It’s a tacit affirmation that they’ve expanded too quickly.