Luxury retailer Theory has opted to shut down its bridge business, Premise. The lower-priced Theory line, which has been in stores like Bloomingdale’s and Saks for two years, will quit shipments after fall in the US, but will continue selling in Japan. RIP!
Theory president and co-founder Andrew Rosen had this to say about this business… "I very much believe in the opportunity in bridge, but I was not 100
percent satisfied with the execution and in the direction we are headed. I don’t want a business that’s just one of the pack — if we can’t
dominate and be the standard for a category, it’s not enough for me and
us as a company. I don’t believe that I won’t get involved in the
bridge segment again, but I would rather when it’s painless to me and
to my retail partners."
According to WWD, Premise didn’t catch on partially due to its colorful competitors: "The line, which has a minimalist aesthetic and neutral color palette,
didn’t catch on like some of its […] print-happy counterparts" like M Missoni and Tory Burch. Sad for us, because we always need wardrobe basics!