While many retailers are packing up their slow-moving suits and sportcoats to put back out on selling floors for fall ’21, others are taking an opposite course.
Marc Streisand, owner of Marc Allen Fine Clothiers in Providence, Rhode Island, understands that nice clothing makes a huge difference in how underprivileged men feel about themselves. To elevate self-esteem during tough times is a noteworthy goal, as is clearing out excess inventory, in Streisand’s case from recently closing his Newport store and consolidating in the Providence flagship. Creating a questionnaire for Rhode Island-based nonprofits to apply for new clothing (written up in the Rhode Island Monthly), Streisand was able to find good homes for more than $100,000 worth of luxury shirts, trousers, sweaters, sportcoats, and accessories. (Prior to this, Marc Allen had been making and donating thousands of masks to Rhode Island’s frontline workers.)
We applaud the example Marc Allen has set and hope it inspires more of the same. For if retailers hold over too much inventory, how will their suppliers stay in business?