overly ambitious sales forecasts, then a fire sale.
To his credit, all the Vulpine stuff I bought was really good quality, well designed and I’m still wearing it. These jackets look similar (and I’ve been tempted because they do actually do a ‘tall’ fit as an option with longer arms and body. But my current winter coat has some years left in it yet).
Vulpine started off reasonably expensive. Then had half price sales when they were overambitious with their ordering. Once you’ve done that a couple of times on the whole range no-one’s going to pay full price. I think they then tried to raise the prices further to compensate and it just looked ridiculous. His solution with Frahm is 100% pre-order, with the only full price stuff being returns but it’s a big ask for people to order that far ahead, and I can’t see that it can get beyond a certain size with that model. (I’m guessing if you buy on your credit card you remove any personal risk on the order? When do you actually pay the full amount – on order or delivery?)
Crowdfunding for equity is so high risk as to be ridiculous. Theres no exit route and while a few large ‘angel’ investors would have some control and influence over strategy (and how their money was being spent) load of small investors dont. But frankly I’m full of admiration for him pulling off the same thing a second time.