No more wholesale costs and distribution, only online sales. This is the strategy adopted by Tamara Mellon to bring its brand back to the top, after it had filed bankruptcy proceedings under Chapter 11 at the end of 2015. Now the company has collected 12 million dollars from the New Enterprise Associates (NEA) and has been restructured. Together with the new CEO, Jill Layfield, Mellon wants to sell its products exclusively on the brand’s e-commerce website. “Three years ago I had performed the same operation, but the market wasn’t ready” said Mellon, who will not be preparing a collection. “The consumer wants to see something today and wear it tomorrow. This is how the next generation of luxury brands will be built” Mellon continued. “I will not have a wholesale margin on my products, so I can offer great quality at competitive prices”. For Layfield, “we have the opportunity to redesign the footwear purchasing experience and create an iconic brand in this process”. (mv)
A new life on the web: having avoided bankruptcy, Tamara Mellon will only sell online
