Calypso St. Barth store on Newbury St. in Boston is among 16 locations participating in going-out-of-business sale. (PRNewsfoto/Tiger Group)

Resort lifestyle brand Calypso St. Barth is relaunching this year with investment fund Solera Capital and the senior leadership team from the newly formed surf lifestyle brand Ansea, WWD has learned.

Having opened its first store in 1992, the brand grew to include fragrances, luxury resortwear, accessories and home goods at its peak — with retailers such as Anthropologie still carrying its fragrance line.

In December 2017, news came that the brand was to liquidate all of its $15 million in inventory across its 16 store locations before shuddering all remaining doors permanently. This was reported nearly a month after a group of creditors forced the brand into Chapter 7 bankruptcy.

It’s no surprise that traditional retail has taken a beating in favor of more nontraditional formats — such as smaller format stores, pop-up shops, mobile retail and flash web sites — with omnichannel and convenience largely dictating the winning traits of retail today.

Just this year, WWD reported a “run of major bankruptcies and liquidations” including the likes of Payless, Barneys New York, Dressbarn, Sugarfina, Diesel and many others. Mall-based brands, typically overstored and too reliant on stockpiling merchandise, appear particularly vulnerable to these shifts.

Because Calypso’s intellectual property assets like the business name and web address were not part of the bankruptcy sale, Solera, which acquired a majority stake in the company in 2007, maintains its new growth direction. The details of this strategy have not been reported, but it is likely the brand will leverage nontraditional formats.

For More WWD News, See:

Calypso Set to Liquidate, Close All Stores

6 Headlines that Captivated the Retail Industry in 2019

Even as Weekly Retail Sales Jump, Industry Set to See Massive Store Closures

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