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Steven Alan is downsizing

Apr 25, 2018 / United States
Steven Alan is downsizing
The US-based retailer is about to close stores and exit wholesale, after a rough couple of years
The first Steven Alan store, by the eponymous retailer, was opened more than two decades ago. Since then, the retailer has built a reputation for combining a strong portfolio of established and emerging labels.

The first signs of the rough period that the company is currently crossing started a couple of years ago, resulting in a major restructuring plan last year, which involved closing stores in Chicago and Brooklyn. At the time, a strategic change took place with the retailer refocusing away from the multi-brand boutique and onto his own label.

Now, the signs seem to indicating that, after a rough two years period, Steven Alan is in the process of substantially downsizing its business, exiting wholesale and shutting down several stores.
 
At the highest moment of its existence as a brand, Steven Alan operated 23 stores across the US and employed roughly 200 people. Currently, the company is down to just six stores and a staff of only 20, including those who work at the corporate office and at its retail units. The ecommerce segment was also hit hard by some severe technical issues, which resulted in stacks of unsold inventory and massive expenses.

Despite the current situation Steven Alan has said he hopes to see the company "back on track" in a near future.

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