When wholesaling multiple brands you’re as strong as the market. You can’t sell what isn’t available. Obvs. Often there is a demand from your customers with nobody fulfilling the supply.
I’ve spoken to buyers at large designer websites, in the past, who have said that many brands have forgotten about the basics and instead only offer key, statement pieces of the season. Tiger, anybody?!
Left - RAEY - AW17
They’ve picked up lesser known brands to fill these gaps - sometimes a guy just wants a plain white shirt without a snake on it - but, ultimately, they know what they need and often the only way to find it is to create your own “house” label.
Matchesfashion.com launched “Raey” a few years ago and, Mr Porter is launching a “Mr P” own label, today. Own labels used to be looked down upon as the lower/entry end of the retailer’s offering, but, now, they are offering something you can’t get from the other brands or give the retailers some consistency and reliability, whether that be black trousers, simple grey v-necks, or something more directional like Sta-press denim.
There’s obviously a demand. Since its inception, in 2015, Raey, matchesfashion.com's in-house brand, has seen 85% growth year-on-year with strong growth across knits and jersey, in particular. A standalone store opened in April 2017 in Notting Hill, in a former franchise store owned by matchesfashion.com.
According to the blurb, the creation of MR PORTER’s “MR P.” brand has been informed by seven years' of customer insight - more than 600,000 shoppers to date - and the invaluable feedback and shopping patterns they’ve observed since launching in February 2011.
The MR P. launch collection has 53 items across ready-to-wear, including 24 “Essential" styles, available year-round, and 29 seasonal styles within the debut capsule. The majority of the collection is made in Italy, with select items made in Portugal, and the denim in Japan. Pricing ranges from £55 for the core T-shirts, through to £875 for the capsule’s leather aviator jacket.
Right - MR P. - the new own label by MRPORTER
The chosen muse for this launch capsule is 20th-century British painter and portraitist Lucian Freud, during his prime in 1950s London.
“At MR PORTER, we are – first and foremost – product people. This passion for quality, uniqueness, style and versatility has been the backbone to developing our business for the past seven years. The launch of MR P. has therefore been quite organic for us; we felt there was a space in our mix of 400-plus brands for something that could present a unique take on wardrobe classics and also present regular capsules of more trend- and seasonal-driven pieces throughout the year. We like to think we have an unparalleled view of the male wardrobe, garnering the combined knowledge of our buyers and editors, and MR P. is ultimately the result of that: smart details, easy pieces and enduring style.” says Toby Bateman, Managing Director, MR PORTER.
The second limited-edition MR P. capsule will launch in February, followed by a third in April. MR P. will introduce shoes and accessories for AW18.
This is a case of these retailers trying to fill the gaps and offer pieces that are consistently available. As these businesses get bigger and bigger then can afford to offer more and also a point of difference that makes them a destination rather than just another retail site selling the same designers.
It’s also important to note that wholesale is so difficult, now, that many brands are moving away from it or closing altogether. Smaller brands can’t afford to tie all their money up in stock, which they won’t get money from until the end of the season or, could, at worst, be sent back to them. This cashflow problem is what has killed off many small brands and also deters many from the wholesale model.
Plus, many people are happy with affordable basics so look to designers for something different or recognisable which has driven designers to only offer these styles. Matchesfashion.com and MRPORTER are so big now they can offer these own-label collections. What they have to remember is, these “Essentials” are the workhorses of a man’s wardrobe and as such need to be good quality in order to satisfy the customer.
Left - Unbranded "Essentials" mixed with a few capsule pieces is part of the new MR P. ethos