Monday, May 05, 2008
Ode to Nau
I'm very sad to hear the news that upscale-urban outdoor retailer Nau has closed up shop only a year after opening. My good friend let us know on Friday that his job at the home office and all of his colleagues' jobs had been completely dissolved with less than 48 hours' notice. My friend introduced Rachel and me to Nau several months ago, and I immediately found their clothes to be perfect for my slender frame. Since then I've been one of their biggest patrons. As I look down at my extremely well manufactured Nau jacket and wool pants, I don't understand how the investors would allow Nau to simply stop production. It just doesn't make any sense. Where will I go now? North Face is so pedestrian, and all those clothing stores in the mall (ala Banana Republic & J Crew) have no personality and are made of extremely poor quality fabric for pear-shaped men.
Quick Nau highlights: start-up, investor money, lots of press, cult following, credit crunch, investor money stopped (huge missed opportunity & super dumb non-visionaries), cash flow = $0, 48 hour termination notices, very sad patrons, like canceling Seinfeld after the first season, big gap in the apparel world.