Dear Animals,
It’s been a long and beautiful journey together and I couldn’t be more grateful for the memories we’ve collectively created.
But sadly, it’s time for us to close.
The fashion economy has been brutal. With major corporations like Shein, Temu, Alibaba and so many others knocking us off by the thousands, competing has become nearly impossible. The knockoffs, have gotten so bad that SpiritHoods was featured as a case-study in an article by the ITIF, a Washington DC think tank that makes policy suggestions for the United States Trade Representatives (USTR).
Tariffs made it harder still. Tariffs introduced uncertainty. The possibility that our cost of goods could increase by a 50% tariff significantly hurt our ability to manage inventory. Even with some recent temporary reprieve, we were never able to absorb costs that kept climbing.
Then the war on Iran destabilized oil prices and our cost of goods just kept rising, transportation costs followed… recently by more than triple.
We have always toed the line between extraordinary quality and affordability, and over the last few years that line has become almost impossible to walk. Vendors keep going out of business. Development and sourcing costs keep climbing. At some point it just became unmanageable.
With inflation on the rise, it has become too expensive to borrow money. Our products are expensive to make, and holding enough inventory to keep every size available is a high burden to bear.
The predatory lawsuits were another little surprise this year. Ridiculous claims of CIPA violations that are innacurate and extremely costly to defend against.
And there is one more reason, the one that's hardest for me. I always envisioned a world past mainstream faux fur acceptance (which we finally achieved), one built largely on sustainable fabrics. After millions of dollars in research invested by our manufacturing partner and years of collaboration, the truth is that the world economy is more concerned with survival right now.
I love what we built and what faux fur has become as an industry, AND it still isn't enough. Long pile faux furs that are both sustainable and realistic are still a long way off, and we are not going to be the ones to get there.
I feel tremendous gratitude for our time in the world.
Ni komentarjev:
Objavite komentar