Founder Michael Preysman and his investors are back in growth mode after implementing cost cuts and changes to the product mix last year. Whether Everlane can find a new leader to make it the sales juggernaut it's always dreamt of being will be a test case for whether late-stage start-ups can escape the direct-to-consumer curse.
The underwear start-up was once pegged as Gen-Z’s answer to Victoria’s Secret. But investors, executives and founder Cami Téllez couldn’t agree on whether to prioritise growth or profitability. They ended up with the worst of both worlds.
Instead of emulating the face-paced growth favoured by their predecessors, Gen-Z-centric fashion and beauty start-ups are taking a steadier approach to brand-building.
Case Studies & Reports
Warby Parker’s revenue for 2023 rose 12 percent year over year to $670 million, beating estimates, as the eyewear maker’s store expansion continues to be a growth driver.
Shoemaker Rothy’s on Tuesday announced a number of leadership changes. Co-founders Stephen Hawthornthwaite and Roth Martin have stepped down from their roles as chief executive and president, respectively. Hawthornthwaite will transition to Rothy’s chair of the board, and Martin will become chief creative and innovation officer.
Allbirds sales and profits have slipped amid its ongoing plan to streamline its business.