Rock & Republic recently filed for bankruptcy, but it plans to keep operations running as smoothly as possible. They've hired some fancy suit-wearing types to get their finances in order and recruit some new investors. Those fancy suit-wearing sorts of people are reportedly all kinds of eager to invest in the label. Meanwhile, the label plans to refocus on its core apparel.
"We’re slowing the expansion of diffusion lines. The brand is what we need to protect and we need to improve our shipping record in our branded goods. The problem was our senior lender put a crimp in that,” [chief restructuring officer Geoffrey D. Lurie] said.
Rock & Republic's core apparel centered around $200 jeans, which the recession mostly pushed to the sale rack, ushering in what seemed to be a new, perhaps lasting age of affordable denim. But with their diffusion lines on hold, Levi's launching $200 jeans, and Hudson launching $995 jeans, that age sadly may not survive its infancy as the economy shows signs of recovery.
Marvin Traub, who was recently hired as strategic adviser to Rock & Republic, said many candidates have shown interest in investing, since the brand has "a personality and a niche of its own." Traub was spotted this week having lunch at the Harvard Club with Michael Kramer, CEO of Kellwood Co. Traub was coy about the meeting, saying only that they "were talking broadly about business." Sure. We can just see them in there, relishing the seats they paid exorbitant dues to sit in, conspiring to revive the overpriced denim movement. The Harvard Club — founded for people used to ridiculously overpaying for everything — would be the nexus of such conspiracies.
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