Yogasmoga Is Applying For Bankruptcy In Manhattan

"Authenticity" should come from direct communication with consumers instead of credulity in the "consumer demand" or "Lululemon style success" in investment.

As if yesterday, Rishi Barry (Rishi Bali) still had high spirits.

And many new leisure sports.

Similarly, Yogasmoga, founded by him, is becoming the next Lululemon, and he is confident that he will stand out.

"Yogasmoga."

Trousers and trousers are the most soft and durable.

The high-end fabric Aurum made of Lycra and Supplex durable nylon is selected.

These fabrics are made in the United States, so that Yogasmoga can make real-time response to the trend. "

But this week, the New York based company filed for bankruptcy in Manhattan's local court.

According to the world clothing and shoe net, its total assets value is between 1 million and 1000 US $10000, but the debt figure is also close to this level. At present, there are 50 to 99 creditors.

According to the world clothing shoes and hats net, Rishi Barry's explanation of the reasons for bankruptcy is particularly familiar: there are differences with major investors, unable to complete a new round of financing, resulting in capital chain rupture.

"For various reasons, we have financial difficulties.

Our development is a bit too fast, and bankruptcy is also intended to slow down. "

Yogasmoga was founded in 2013, and Rishi Barry, founder of the Goldman Sachs, was formerly the director of operations.

The brand first started from the electricity supplier, opened 2 stores in 2015 years, and expanded 10 by one year.

When we raised $12 million 500 thousand in venture capital in March this year, Bari was also preparing to increase the number of shops to 25 yuan, and put the rest of the money in high-tech fabric research and production as well as beautiful hard shots.

The problem seems obvious: funds are burning at some cost inputs that can not be immediately effective, and they are blindly expanding when the team is not yet familiar with how to operate the entity channel, how to handle the inventory and how to deal with the backlog.

A more serious problem is brand positioning: no consumer needs second Lululemon, but over the past three years, Yogasmoga's marketing and business decisions have been too frequent to match this yoga pants ancestor.

In the initial invitation letter issued to the media, the word "Lululemon" has a new rival.

Last year, Barry said in an interview, "we will do better than Lululemon, because we are more real."

They even spent two years developing a kind of black dye, just to ensure that there will be no "perspective pants" incident that happened in Lululemon in 2013.

But "truer" should come from direct communication with consumers, rather than credulous investment in the population of "consumer demand" or "Lululemon style success".

Indeed, at one time, few analysts denied that sports, casual wear and sportswear would be a hot market in the long run.

The description of this market demand is: "young consumers are increasingly yearning for a fashionable and healthy lifestyle. The pictures of cold pressed fruit juice and yoga classes published and forwarded on Instagram are more than the pictures of new Coach handbags or Max Mara dresses."

At the same time, the application scene of sportswear has become more extensive, and has begun to appear in offices, banquets and other formal occasions.

But that does not mean that the market with a total value of 9700 US $10000 will be better off.

On the contrary, the influx of too many brands has made it too saturated. A large number of irrelevant brands have become competitors in this category: sports brand Nike, Adidas, Under Armour, fast fashion brand H&M, Gap, Old Navy, Target, e-commerce brand Net-a-Porter, underwear brand Victoria "Target".

After Kanye West, celebrities are also eager to try this market.

Beyonc, Selena Gomez, Heidi Klum, Carrie Underwood, Jessica Simpson have launched their own sports casual wear line.

Fortune has a proper metaphor for this: "yoga pants are yoga pants are the new perfume".

Against this background, even if a Lululemon can really be copied, it will be difficult to win more picky consumers.

Rishi Barry feels that filing for bankruptcy is just a way to make Yogasmoga "continue to develop in a more appropriate way".

"We also have a group of consumers who are strongly sticky to brands.

Only a few stores will be closed during this period, and I will still manage the brand full-time. "

But it is hard to say if other brands can be like Yogasmoga, even if the capital chain breaks down, there will be a chance to rely on the core user base and products to make a comeback.

Perhaps any market trend is so - Normcore, cold pressed fruit juices and necklaces -- at the moment when the peak of popularity is reached, it may also be the beginning of downhill.

More interesting reports, please pay attention to the world clothing shoes and hats net.