Matt Scanlan is the CEO of not just the brand he co-founded in 2015, but also of Thakoon and the upcoming Something Navy line:
This is perhaps not a novel concept in retail, but it's one that fashion brands too often lose track of, producing $800 dresses that don't sell until the third markdown or skirts that only fit shoppers with runway-model proportions.
When Scanlan and Panichgul first began talking through the strategy for the relaunch of the designer's namesake line, they spent hours browsing the floors of Barneys New York, Intermix and Bergdorf Goodman — stores that a decade ago were some of Thakoon's key wholesale accounts.
"Especially in today's retail and consumer environment, there is not a long list of people that are proven leaders at these companies," says Richie Siegel, founder and CEO of consumer consultancy Loose Threads. Retail executives with 20 or 30 years experience may have once been the safer choice, but if they've never built a digitally-native DTC brand from the ground up, they're now considered more of a risk.
"I think when you're in the [fashion] industry for too long, you can start to lose your discipline and objectivity," says Siegel. "[Scanlan] is not going to be emotionally invested in certain colors or fabrics and just can look at it more objectively." Naadam, Thakoon and Something Navy now all live under the Naadam, Inc. umbrella, which has created certain operational efficiencies, in terms of setting up backend systems for finance, fulfillment and logistics, Scanlan says. Though for now, he's the biggest shared resource.
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