On Nov. 27, off-price retailer Filene’s Basement will offer more than 2,000 pieces of Band apparel — for both men and women — at 50 percent off its original retail price. The discounter, which presently operates solely online at filenesbasement.com, will reduce these prices by an additional 25 percent from Nov. 27 through Nov. 30.
A spokesperson for Filene’s Basement said the merchandise represents “the full inventory of Band of Outsiders’ flagship retail location [in New York],” and includes a “mix of seasons and collections.”
The inventory, comprised of more than 500 stockkeeping units, is chock-full of pieces exhibiting Band of Outsiders’ quirky skew on preppy attire — including oxford cloth button-downs, sweaters, and T-shirts.
Following Band of Outsiders’ closure in May, its majority stakeholder CLCC SA attempted to sell the brand’s intellectual property, as well as its residual inventory. The Belgian fashion fund was unable to recover the brand’s $2.5 million debts in the sale, and continues to hold the label’s IP in its portfolio.
It is understood that Filene’s Basement purchased a portion of this remaining inventory from CLCC after the advertised IP sale had fallen through. The fund had originally hoped that a single buyer would take on its full load, but now appears to be selling the inventory piecemeal. A source tells WWD that another portion of inventory has been purchased by a high-end American retailer, but would not disclose specifics.
At the time of the ill-fated sale, a source told WWD that if the sale did not succeed, CLCC would investigate the possibility of bringing back and operating the label in its same high-end contemporary market, with a creative director other than its founder Scott Sternberg. Potential candidates were said to have already been reviewed.
A source now tells WWD that CLCC is still investigating “opportunities” for the label’s IP, particularly in the European market. According to the source, CLCC has still not ruled out the options of a sale or a reboot.